How to make money in a recession

With the current state of the economy, it’s easy to get sucked into all the doom and gloom being reported in the media. News of the recession, redundancies, mass bankruptcies and so on can spread fear and despair around the country. Quite often people feel so depressed by this news that they don’t even bother to try to make money. However, for those who refuse to be hypnotised by media gloom there are always ways of coping and even doing well in these depressing times. We’re often asked by readers ‘How can I make money fast?’  Well, take a look at this article to discover four ways to make money in a recession.

There are some businesses that actually do better in a recession than usual. This is because people often have different needs during an economic downturn and anyone who notices these gaps in the market and fills them can make some cash.

There are plenty of long-term and lucrative opportunities to make money in this economic climate. Here are just a few of the ways you can do it:

1. Sell your junk

cbsIn a downturn, secondhand and generally cheap goods tend to do very well. In fact, they often do better than they do when times were good. eBay and other auction sites such as eBid are still doing a roaring trade so now is an even better time to sell everything you don’t need or want.

Most of us have far more stuff than we need (or really want) so make it a regular exercise to go through cupboards, drawers, shelves and so on and see what you could possibly get rid of for ready cash.

Sell for others

If you are a major eBay enthusiast you could make money by selling other people’s things for them on the site. Many people would happily pay a percentage to someone who is willing to photograph their stuff, put it on the site, write a good description then send the things off for them. Charge about 30% of the sale price and you’ll make it worthwhile for yourself and the people you’re selling for.

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