Surviving the Economic Downturn: Your Guide to the Top 6 Side Hustles of 2023.

Looking for ways to make money during a recession? You’re not alone. Social media often tempts us with other people’s glamorous lifestyles, making us want more than our standard jobs can offer. We’re also living in uncertain economic times, which has made us cautious about our finances. However, even during tough economic times, there’s room for new beginnings and chances to make some extra dough!

Here’s a quick story: during the pandemic, when I felt a bit stuck at home, I decided to try out some business ideas. Guess what? It was a fun and productive way to fill my spare time, and I ended up making some extra cash.

Want to know more? Let’s dive into the world of side hustles that can be profitable, even during a recession.

But first, a quick lesson: a recession refers to a period of economic decline. It sounds scary, right? Companies battling solvency issues, people losing jobs, economic activity slowing down – but there’s a silver lining.

Recessions can be a great time to start a side hustle. Why? Firstly, during economic instability, entrepreneurs seek cost-saving solutions. So, if you’re a freelancer or entrepreneur able to provide affordable, efficient solutions, you might just snatch customers from larger, pricier players. Secondly, most of us generally have more free time during recessions, making it a good period to start a low-investment side hustle.

Now, let’s take a look at six recession-proof side hustles:

1. **Delivery Driver**: It doesn’t take much to start – just a mode of transportation. Delivery jobs are flexible and can even be a fun way to spend time if you love music or want to keep fit (if you’re biking). The average hourly wage for food deliveries is around $15.

2. **Cover Letter and Resume Writer**: In times when jobs are scarce, this service is in high demand. All it takes is understanding your client’s needs and translating them into attractive resumes and cover letters. You can earn about $25 per hour doing this, and you can do it remotely!

3. **Virtual Assistant**: Here’s a role that came into the limelight during the pandemic. As virtual assistants, you need basic software knowledge and the flexibility to tune in remotely.

4. **Social Media Manager**: Regardless of the economy, businesses rely on social media for affordable promotion. As a social media manager, you can earn between $25 and $35 per hour.

5. **Uber/Lyft Driver**: Need a ride? There’s always someone! While your car is a prerequisite, driving for Uber / Lyft can make roughly $20 per hour.

6. **Freelance Copywriter**: This is my favorite! It’s flexible, and you can work in niches that interest you. The starting wage is about $20 per hour, but experts can earn way more.

Bottom line? Recessions, while tough, can also open doors to new opportunities. If the only thing in danger is free time, why not give these a try? After all, these could become substantial streams of income allowing you to earn, save, and live the lifestyle you aspire to. Remember – fortune favors the bold!