Times might be tough, but that doesn’t mean we can’t find creative ways to keep our spirits high and our bank accounts happy. Today, we’re diving into three recession-proof side hustles that not only bring in extra cash but also provide a much-needed boost to our mental well-being. Let’s explore 3 recession-proof side hustles that can help keep depression induced by money worries at bay.
Virtual Assistance
Are you organised, detail-oriented, and tech-savvy? Virtual assistance could be your ticket to a lucrative side hustle. Start by identifying your skills and services you can offer, such as email management, scheduling, social media management, or customer service. Create a professional profile on platforms like Upwork, Freelancer, or Fiverr to showcase your expertise and attract clients. Remember, as a freelancer in the UK, you’re now subject to tax on your side hustle income, so be sure to register with HM Revenue & Customs and keep track of your earnings.
Freelance Writing
Got a way with words? Freelance writing could be your calling. Begin by honing your writing skills and identifying your niche—whether it’s blog posts, articles, copywriting, or content marketing. Build a portfolio of your work and create profiles on freelance platforms like ProBlogger, Contently, or LinkedIn. Network with other writers and editors to find potential gigs, and don’t forget to set aside a portion of your earnings for taxes.
Online Tutoring
Passionate about teaching and helping others succeed? Online tutoring is a rewarding side hustle that allows you to share your knowledge and expertise with students worldwide. Determine your areas of expertise and target audience—whether it’s academic subjects, test prep, language learning, or special skills like music or coding. Create a profile on tutoring platforms like Tutor.com, Chegg Tutors, or Wyzant, and promote your services through social media and word of mouth. And remember, just like any other income, your tutoring earnings are taxable, so stay on top of your tax obligations to avoid any surprises come tax season.
Just because these are fairly ‘easy’ side hustles to get into, let’s face it with a little practice anyone can do these it doesn’t mean that it will be easy to establish yourself. The market can be quite competitive. When creating your profiles, put your best work out there. Let your profile attract people to you. Then put the work in. Advertise, bid for gigs, share it with your friends. Establishing yourself online is similar to standing at an auction house, for your product to get picked your customers have to see the value of your services. Don’t give up, your persistence will pay off in the long run. Check our recommended reads section for books that could help you take that step.
While financial worries can take a toll on our mental health, there are always opportunities to turn things around and thrive, even in tough times. By exploring recession-proof side hustles like virtual assistance, freelance writing, and online tutoring, you can not only alleviate money worries but also find fulfilment and purpose in your work. So why wait? Start hustling today and take control of your financial and mental well-being!
