The coronavirus pandemic has taken the world by storm. The way we look at our daily lives, health, children’s education, and ways to make an income has shifted tremendously. Making money during the pandemic has been difficult for some due to job losses or reduced salary.
If you may be struggling to make ends meet at this time, stay hopeful and realize that you can chart a new course to maintain your finances.
For example, since they are at home, many people had to turn to online methods of earning cash. Data shows that work from home roles are highly in demand since the pandemic has affected us worldwide. According to OneRec, searches for remote working opportunities rose by 222.4% since last year.
Here are six easy ways to start making money during this pandemic:
Cut Back Unnecessary Expenses
First off, it’s time to cut down on your regular expenses. You will find that taking a close look at your regular monthly finances will reveal ways to save. What weekly service can you reduce or remove entirely? Some of these could be monthly online subscriptions, dining out, use of laundromats, travel expenses, and yard cleaning services.
Budget and Invest
The largest bank in Jamaica, NCB, gives a good tale for budgeting during the pandemic. They state that budgeting can help you control your finances and reach your goals quicker. Budgeting is simply knowing your monthly net income, clearing monthly expenses, and creating a plan to save and invest for your future.
It may be that the stock market is down. However, you can look into less volatile instruments, such as bonds. Additionally, now may be the time to purchase usually steady and robust stock or ones related to services that will flourish during and post-pandemic. After the pandemic, these will accrue a significant gain and make your portfolio healthier.
Sell Some Of Your Junk or Old Stuff
Now maybe the time to ruffle through your closets, basements, and storage rooms for unwanted junk. Look for old clothes, appliances, and electronic devices that are still functional. Then sell them online. You could create a business by selling items for persons and taking a commission. Many online marketplaces allow used items sales, such as Amazon and eBay.
Start A Business
According to John Rampton, times of crisis “drive creativity and innovation.” During other worldwide crisis such as the Spanish Flu Pandemic, Great Depression, World War 2, and the 2008 Economic Recession, many businesses were formed and still thrive today.
Becoming a freelancer may be what you need during COVID-19. There are some great options to post your skills online and earn income. My favourites are Fiverr, Upwork, and Freelancer. You can use the skills you already possess or learn a new one online.
Some in-demand online skills you can do are graphic design, web design, social media management, virtual assistance, transcription, and customer service calls. However, you may already have professional skills, such as teaching, accounting, or counselling, can all be converted to online businesses.
Do A Part-Time Job
Aside from freelancing, there are many other methods to approach doing new businesses. Look and see what new skills or needs there are due to our standard change in circumstances. For example, more people being at home require child care, home cleaning, and delivery services. Some persons may need healthcare for elderly or indigent relatives. Frontline workers at hospitals also desperately need assistance.
Whatever you decide on, ensure you follow the COVID-19 protocols to remain safe. Increased contact with persons may increase your risk of the illness. Wear a mask always, socially distance, keep sanitized, and wash your hands regularly.
Become An Online Tutor
The increase in online learning has been significant during the coronavirus outbreak. With many people trying to upskill and students learning online, you can capitalize on being an online tutor.
If you know English subjects and Mathematics, this could be your time to train students for CSEC & CAPE exams. You can even do simple teaching on how to use online devices and platforms. Persons have started to use email, cloud storage platforms, social media, and their phones and laptops more regularly. If you’re tech-savvy, set up a service to teach about these.
The world is in lockdown, but you don’t have to suffer financially. Try some of these ways to increase your cash flow. Leave a comment below and state which tip helped you the most.
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About the Author:
Joneil J. Alcock is a digital marketer by day and a “Superman” by night. When he’s not helping his mentors to run online campaigns, he can be found discussing Christ’s love. Somewhere between working and teaching, he finds time for a great book or an action-packed Netflix show. If you fancy a chat, catch Joneil on Instagram, or email him joneiljalcock[at]gmail.com.
