As I read the news today on the BBC website, I see more doom and gloom about the looming recession.
The Bank of England are increasing interest rates to help ease the problem of inflation which is good news for savers, but not so good news for those with loans and mortgages.
I read about one man whose mortgage had already gone up £100 a month and he was a little concerned that it was set to go up again.
He works for a large supermarket chain and they had recently moved him to a new store an hour’s drive away from where he lived.
He was worried that the increased mortgage costs would hinder his commuting costs as he was already paying out £200 a month fuelling his car to simply get to work to earn money.
With fuel and food costs going up too, it has become ‘a never-ending cycle of trying to make ends meet’ he said to the BBC.
Fortunately he gets staff discount on the food he buys in-store which will help ease the squeeze a little.
There are a lot of hard working people struggling currently and it appears that it is only going to get worse.
I can only echo what I have said in previous articles which is… the best way to ride out a tough financial period is to find a way to make more money.
I feel I should say here ‘but that’s easier said than done’ but that is only applicable to those who don’t know much about making money.
Truth is, there are many ways to make money, and quite a large number of those are relatively simple and easy.
Yes, during times of crisis, some opportunities are made more difficult with people cutting back on spending.
For example: a person who makes money ironing clothes for clients should do well in a growing local population but when times become hard and people start to save money to ease the pressure, they stop spending on services which they themselves can do and that will have a negative impact on the ironing business.
Ironing clothes is quite easy and can be done in an evening or weekend while watching the television.
Paying someone to do that is either a luxury people give themselves or they do it to free up time so that they can focus on other more important stuff.
Those who fall into the latter category may carry on paying to have their ironing done, the others are more likely to cancel and do it themselves to save the money.
So yes, when times are hard some types of money making will be affected.
But the opposite also happens, during times of financial uncertainty some industries thrive. Fast food takeaways and betting shops do really well during recessions.
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I’m not suggesting that you start a business selling takeaway food or open up a betting shop as a way to make money, but you might want to consider providing a product or service which people really need at a time like this.
Ideally, if you were thinking of starting a business where you sell products or services, you really should consider doing something which you can start today, doesn’t require a lot of upfront financial investment, doesn’t need a lot of expensive equipment and doesn’t need you to spend much time learning.
If you are in need of money, the last thing you need is to put hurdles in your way and make things more difficult for yourself.
You need to find something easy to do and that you can do today (or within a few days).
Ideally, you want something where you are done and finished within a day or a few hours so that you can get paid right away.
One such business is consulting or online teaching.
If you know or can do something other people want to know or do, you can always teach people online via a face-to-face chat and charge for the time spent talking to them.
I know this isn’t for everyone and finding people willing to pay you to learn from you is going to take a little more than posting an advert on social media, but it’s a great way to get paid anywhere up to a couple of hundred pounds for an hour.
If starting your own business sounds like a lot of work and you prefer to look for something simpler, then the other option available is to leverage whatever spare money you have.
Even with the increase in interest rates, £500 in a bank account will not earn you as much as using it to either trade the financial markets or specific sports.
£500 can be doubled in as little as a couple of months, possibly less depending on what staking plan and system you use.
Kate Davis is a busy mother who made the decision to make her money work for her.
She generally makes between £750 and £1,725 each month trading the markets before going to work using just her smartphone while working out.
The current cost-of-living crisis may affect the markets, but it doesn’t stop them nor does it stop people making money from them.
Markets go up and down all the time.
People like Kate make money by getting in when a market appears to turn one way or another.
It’s not rocket science, you look at what is happening in the world and what the market is doing and make an informed decision which results in people like Kate making a substantial amount of profit.
You can do the same with Kate’s guidance.
If you would like to discover how to make between £750 and £1,725 each month, click the link below.
www.TreadmillTrader.co.uk
Kind Regards.
John Harrison
PS… Did I mention the £750 – £1,725 per month Kate earns is TAX FREE?
Here’s that link again: