How to Make Money Online in a Tanking Economy

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The economy was soaring before the COVID-19 pandemic hit. Once that happened, people panicked and economies were shut down all over the world. Many states in the US got hit hard with the pandemic, where thousands of people died. For example, in its early stages, the governor of New York ordered nursing homes to accept COVID patients. Consequently, tens of thousands of vulnerable older people caught the disease and died. In response, New York and other states tightened their COVID-19 restrictions, ordered people to stay at home, and shut down vast sectors of the economy, most notably retail and restaurants. Some people were lucky enough to continue to work from home, but many people lost their jobs, and many businesses went bankrupt. SBA loans lessened the blow to businesses, and stimulus payments served as a buffer for people who lost their jobs due to the government lockdown. But, they didn’t save everyone. Now that we are coming out of lockdown, it’s time to get back on track with earning a living and paying our bills. If you’re one of the unlucky ones who lost your job, or even if you aren’t, give some of these tactics a shot and you might have some much-needed cash in your pocket.

Sell Old Stuff on Facebook or Craigslist

We’ve all got old stuff laying around. Some people have closets full of old clothes that no longer fit. Others have appliances that they haven’t used in years, or which are still sitting in boxes. Still others have unused items like tchotchkes, dishes, curtains, laptops, and a variety of other items that they will never use. Take inventory of your own belongings, and pull out anything that you haven’t used in over a year. Put those things in a pile and think seriously about getting rid of it. If these things are in good condition, then try selling them online before you throw them away. You’d be surprised who sees value in that old laptop, or that set of dishes that you’re saving for a special occasion that never comes. Although you’ll take a loss on what you paid for these things, you’ll have cash in your pocket, and more space in your home. Put them up on the Facebook Marketplace, or sell them on Craigslist. Sell what you can, and get rid of the rest.

Create an Ecommerce Website

If you’re ambitious or have a lot of time on your hands, then start an ecommerce business. Pick a product category that you already know, and find a small market within it. So, for example, if you like fashion, then think about the specific style of clothing you prefer and know the most about. Maybe your thing is Goth clothing. If that’s the case, then think about whether there’s an even smaller category, like brown Goth clothing. There are lots of web hosting companies. So, do your research and start with articles like this DreamHost VPS hosting review. Once you select a hosting company and domain name, you can get your website up and running. Use an existing platform like WordPress with the Woocommerce plugin and it’ll be relatively easy to do. On the other hand, you can also try a platform like Shopify or Big Commerce. Just keep in mind that those platforms won’t be as customizable.

Launch an Etsy, eBay, or Amazon Store

If you plan to start a Shopify or Big Commerce store, then you might as well get onto some of the main shopping platforms, too. If you’re artistic and can craft unique items, then Etsy is a great place to start. Put your hobby to work for you! However, if you’re not so handy, then you can buy and sell products on eBay or Amazon. You’ll need to do some work to find wholesale deals on merchandise that you can then resell at a markup. But in the end, having your own home business can really be worth it.

Register With a Gig Site Like Uber or Fiverr

Product sales aren’t for everyone. Many people don’t want to deal with the hassle of maintaining inventory, processing orders, refunding people’s money, and providing customer service. There are many of us who instead prefer to provide a service. If that’s you, then sign up for some gig websites. The gig economy is exploding, and you can find small tasks that will earn you cash right away. You might have a knack for writing, or taking pictures, or doing artwork. Fiverr is great for these sorts of things. If you don’t have these talents, then try a platform like Uber or Lyft, where you can drive people around for cash. Just keep in mind that there may be regulations in your area that make it difficult to become a driver.

Fill Out Paid Surveys

Another common way that people can earn quick cash online is by filling out surveys. Some companies will pay $10, $25, $100 or more for a qualified survey response. Just get on Google and search for paid surveys. You’ll find lots of them. Some will be scams, so be careful about which company you give your information to.

When All Else Fails, Look for a Job Online

Start with the above tips, and you should have some cash in your pocket in no time at all. However, you would really need to hustle if you want to earn a full time living on your own. That being the case, sometimes it’s easiest to find a job while you build your online empire. Use a jobs website like Monster.com or LinkedIn, post your resume, and respond to the listings on a daily basis.

About Author

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LaDonna Dennis

LaDonna Dennis is the founder and creator of Mom Blog Society. She wears many hats. She is a Homemaker*Blogger*Crafter*Reader*Pinner*Friend*Animal Lover* Former writer of Frost Illustrated and, Cancer...SURVIVOR! LaDonna is happily married to the love of her life, the mother of 3 grown children and "Grams" to 3 grandchildren. She adores animals and has four furbabies: Makia ( a German Shepherd, whose mission in life is to be her attached to her hip) and Hachie, (an OCD Alaskan Malamute, and Akia (An Alaskan Malamute) who is just sweet as can be. And Sassy, a four-month-old German Shepherd who has quickly stolen her heart and become the most precious fur baby of all times. Aside from the humans in her life, LaDonna's fur babies are her world.

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Olivia
Olivia
22 days ago

People pay money for things that are valuable to them. One person knows how to cook according to the author’s recipes, and the other is willing to pay to be taught this. Someone who plays the guitar professionally, started a channel on You Tube, showed their talent, and now wants to sell a video course of skill training — there will be buyers. The main thing is to have a good budget for web development. The product in the network does not sell itself, it is sold by the description, and someone is very good at it. Such a person will not be left without earnings.

Adam Weinstein
9 days ago

When the market is down, it is the best time to make a fortune. There is always an opportunity to make money. And the online system provides just that!

Amanda
Amanda
3 days ago

Registration and participation in surveys is an opportunity not only to earn some money, but also to have a good time. But if you want to earn more on paid surveys, you will have to register on all of them at once, rather than on one or two sites. But most importantly, first read the process in more detail here https://surveyexaminer.com/ to see if it’s right for you, and not make mistakes.

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