When recession hits, it takes everything down with it – pass time, money, work, and morale. Money isn’t everything, yes, but money does mean more than something, it acts as a catalyst to everything that you do around you. If you haven’t the money in your pocket, you can’t even start a bee business, yield honey and stock it.
And in times of recession, the first thing you want to do is to pile up as much money as possible, to receive an amount of income that will keep you away from the heat of inflation and fulfill at least your basic needs. So what exactly do you need to do to make your income recession proof in the forth coming months of 2012?
Things You Can Do to Make Your Income Recession Proof
Market Yourself on the Internet
The internet is the best way to market oneself. Share your professional attributes and qualities online, either by using a blog, a social networking site or even by simple HTML WebPages. You can constantly share your resume by using LinkedIn and sites of the like. If your profile is upped on the internet, you will have a chance to be presented with a business opportunity.
Widen Your Source of Income – Freelance
One of the best methods could be adding up different streams of income other than your main source. If you are an employee, it is most likely that you will be one of the many scapegoats for cut down of expenditures. To be safe even if you’re axed, you can work as a freelancer. But make sure that you do not break any office rule regarding free lance jobs.
Earn Through Blogs
Working online would be a good option. You can start blogs that are supported by advertisements; you can sell products on EBay or provide your expertise to different online marketing firms. Online jobs do not bring instant big money but by this you gradually increase your profile online; making newer and more valuable contacts and there will also be a rise in income.
Look For Areas Immune to Recession
What most people think about recession is that there will be no recruitments. It is the contrary. There are areas where employers will be in need of the right employees to keep their business alive. Areas like healthcare and education are not affected by recession.
List Your Job Specifications
There are many sites online which offer you a list of the best jobs to take upon during recession. And in few of these sites you can enlist your name and job preferences. When recession hits these sites, like Craigslist, will notify you of a job opening or give you tips to improve your skills based on the specification of companies who are out looking for employees.
Debt Control
Debt is the last thing you would want to have during recession. There are two types of debts you can fall into. One is the usual debt that is the credit card debt. Another is your necessary debt. The credit card debt is the one you must clear as soon as possible. Most people fall into huge amounts of debt because of maintaining multiple credit cards.
Instead of paying off debt of all your cards start with the card which has the highest rate of interest. The lesser interest rates one can be cleared in the same manner. It would be wise not to use them if you cannot meet up the balance. As for necessary debt, it is genuine for you need a house to live in.
Save up money from your income. Saving is the best way to go through recession. If you have a high paying job, save around 20 percent of your monthly income for several months. This saving will make you able enough to buy basic commodities and take care of other necessities in the time of recession.
Investing in land and other profitable businesses will bring you profitable returns. Investing in stock markets and reaping rewards before the economic fall can be of your benefit. The same goes for land and other businesses.
Saving for the recession and investing and reaping rewards before the recession are both profitable.
Work Overtime
You can work overtime and demand more from your employer or if you run a private business you can squeeze out more money. Overworking before a recession and earning more is better than waiting for recession and continue doing nothing.
The danger of an economic collapse loops large in 2012, but if you act wise like Tornado prone people who have back up plans, you can probably have a happy time during the recession. If not giving you great amount of money, even money needed to fulfill your needs will be a happy feeling during the recession.