4 Online Endeavors to Try for Extra Income During the Recession

The recession has affected all of us in one way or another, but it has been especially hard on women. Unlike the 2008 recession, the current crisis has had the biggest impact on industries where women hold the majority of jobs, such as healthcare, education, retail and hospitality. If you’re among the many women who have lost their jobs or are feeling burnt out as a result of the pandemic, it might be time for a change. Below, learn about a few of the best opportunities for boosting your income — all without having to leave home. 

Land a Remote Job

One of the best ways to start earning a full-time income at home is to apply for jobs with companies hiring remote workers. Telecommuting has been gaining popularity for years, but thanks to the pandemic, there are more opportunities than ever. 

Finding a legitimate work-from-home job can be a challenge, but there are a variety of job boards created just for remote positions. Consider browsing through various websites to start your search.  

Try Freelancing  

Becoming a remote employee is great because it gives you the same level of stability and security you would get working in-person. However, it also means you might need to stick to a set schedule, attend meetings and do other tasks expected of regular employees. 

For more freedom and flexibility, you might consider becoming a freelancer. As an independent contractor, you can set your own hours, rates and policies, but the trade-off is that you are responsible for finding your own clients. Luckily, it’s easy to connect with clients by using job boards like Upwork. Plus, you can find success with just about any skill. For example, you can become a freelance Google Suite administrator, virtual assistant, writer, salesperson or anything else you have experience with.    

Start a Blog or YouTube Channel 

Blogging and making videos is another option. This often starts as a hobby, but with the right approach, you can earn money from it. It’s easy to monetize a blog through affiliate marketing, which involves referring readers to products and receiving a small commission for purchases they make. Becoming an Amazon Associate is one of the most lucrative ways to earn affiliate income, but there are a number of other programs to choose from. 

Similar to blogging, you can earn affiliate income through a YouTube channel. However, it’s not always possible to start earning right away. For example, Investopedia explains that YouTubers can earn money from their videos through advertisements, but this is only possible only after gaining 1,000 followers and having 4,000 hours of watch time on their videos. However, becoming an influencer or offering special paid content for subscribers can help you earn money too. 

Gathering followers might feel intimidating, but thanks to the quarantine measures, people are watching more YouTube videos than ever. At-home exercise tutorials, stress-reduction videos and videos that follow the “with me” format have soared in popularity. 

Open an Ecommerce Store 

Just as the pandemic has caused YouTube views to skyrocket, online shopping is more popular than ever. And despite the recession, many consumers are eager to keep shopping online. However, for the best chance of success, you’ll want to choose a product category that’s performing well right now, such as pet supplies, hobby supplies or home office equipment. And ideally, you’ll connect with a well-rounded source of information like Ecommerce Academia to explore the tools and tricks of the trade.

In addition to deciding what type of products to sell, you’ll also want to choose a business model. If you have the room and want to keep products on hand, you can choose to ship orders out yourself. However, dropshipping might be a more viable choice if you don’t want to worry about inventory. With this model, you operate your store yourself, but work with a supplier who ships out orders on your behalf. 

The recession has changed a lot about our daily lives, but there are still numerous opportunities for earning extra income. Getting hired on as a remote employee is a great way to make a living at home, but if you’re an entrepreneur at heart, getting into ecommerce, blogging or freelancing might be worth trying.