Whether you like it or not, our economy is changing. Jobs are becoming more scarce, and yet prices continue to rise. With arguments about minimum wage ongoing, it's not hard to see that at some point, we are headed for another recession.
Robin Bew, CEO of the Economist Intelligence Unit (EIU), told CNBC that they are anticipating a recession in 2019.
"We think the (Federal Reserve) will continue to tighten pretty steadily over the course of the next couple of years or so, but we're starting to think that the end of the cycle, you can start to see it now," Bew said. "So we're saying 2019: recession."
As someone who works a full-time, salaried position with benefits and also works a part-time position on the side, it's frustrating to hear that my hard work may become obsolete. Obviously I can still spend the money I earn, but it won't go as far as it does right now.
Really, there's no way to avoid the recession on a personal level. Unfortunately the recession hits everybody in the working class and we all feel the effects of our struggling economy. However, there are ways to protect yourself by starting saving habits early and having a spending plan in place. These are some ways you can either supplement your income or save some cash, all on your own time.
You can't just stop buying groceries, but there are ways to make it more worth your while. While Checkout51, you can earn cashback on your groceries when you shop at your favorite stores, including Walmart. Every week you'll get a list of the items included in that round of offers. Upload a picture of your receipt with the items on it and you'll earn money. You can cash out once your total hits $20.
My friends hate when I ask them to do groceries with me, because I'm that person at the cash who has 55 coupons waiting to be scanned. But you know what? I have no shame! Using Coupons.com, I can download free coupons for whatever products I need, print them off, and be on my way. There are coupons for personal care items, food, electronics, and just about anything else you can think of!
3. Become an Airbnb Host
I bought my first house recently, and even though I’m single right now, I bought it with the intention of growing a family. I currently have two extra bedrooms which seemed like a good idea at the time, but now it feels like a waste of space.
Luckily, my friend pointed out that I could conveniently list the rooms on Airbnb and earn income from it. I've done it a few times and I love having the company around the house.
Basically, you list your available space on the Airbnb website and people can book your spare room (or entire house if you're away) as opposed to staying in a hotel. They get the added benefit of being in a home rather than a stale hotel room, plus, the cost is relatively reasonable because the person who is listing the space gets to choose the price.
You are insured for accidental damage up to $1 million with the Airbnb Host Guarantee, and there's also house protection should anyone get injured while staying in your home.
I don't know about you, but driving is an activity that relaxes me. I always offer to drive my friends places and I would much rather do a road trip than take a train or bus. It seems like a waste of gas to just drive around for no reason, so being an Uber driver gives you a reason! You can pick your hours, work during peak hours to make more money, and the money goes right into your bank account every week. If you're going to be out driving anyways, why not make some money off it?
A lot of us, myself included, have relied on taxis to get to and from certain places. However, the cost of a cab is astronomical and not a great way to spend your money. With Uber, you can get lower rates and a friendlier experience while getting to and from your destinations. With Uber's rating system, you can review drivers to make sure you are comfortable with their portfolio. Plus, if you sign up with Uber right now, you'll get your first ride for FREE! Who doesn't love that?
If you're like me, most of your shopping these days is done online. I hate dealing with crowds and big stores, so being able to order from the comfort of my home is perfect. Using Ebates, you can earn money for shopping online...yes it's that easy. Simply sign up for an Ebates account, click on the store you'd like to buy from, and then proceed as usual! Ebates will take you to the proper site and then let the company know you've bought from them. Your money can either be sent by PayPal or check, it's your choice!