How To Be Recession-Proof — Increase Your Cash Income

By: Barbara Filla

When there is an economy slowdown or recession – You have two choices for your life:

1. You can implement strategies and work to thrive or pass through it quite easily
2. You can let it hit you right at the beltline and make life stressful, dismal, miserable, even take you down.
Your life today and I the future is all up to you!

The old saying, ‘plan for the worst rather than wish for the best’ is a wise approach.
How do you plan for the worst, so you can have the best?

The solution is to increase the cash in your pocket. Again there are 2 ways to do that:
1. Cut back on spending - AND -
2. Earn additional cash income through various sources

To get the best results, you need to implement both strategies. In another article, we discussed reducing your spending. Now, let’s talk about some ways to get more cash into your pocket.

How to Earn More Cash In Easy, Effective Way

Provide a solution to other people’s problems and challenges. People will pay for that. When people pay you for products/services you are in business, most likely a home based business, with many advantages.

Some examples of possibilities:
1. A hobby - what do you love to do, what are you passionate about? This is an easy, simple, effective way to earn cash quickly. Sell these products or services.

2. What wisdom, knowledge, skills have you gained over your years of living? Put that wisdom, knowledge into saleable format and sell it to solve problems for people. No matter what your experiences, from repairman to aeronautic engineer, with any level of education from grade school to Ph.D, you are better than others at certain things, have wisdom others need. Your expertise may be a service or product and is valuable.

3. What are you interested in, but never got around to doing it. Quickly brush up on it, produce the product or service.

4. Tax savings. Yes this is a huge benefit because it reduces the taxes you pay, because you are operating a business, likely from your home, which is even more beneficial. We’ll discuss this at another time. But just a peek into the benefits. Many of the personal expenses you incur are likely the cost of doing business, which is a deduction from your income for tax purposes. Wow, believe me when I say taxes is an unbelievably big savings that is ethical, legal. (my experience as a CPA, business consultant for 25 years)

Because you enjoy and love doing the things above, you are interested in them, it won’t even seem like work for you to start and grow your business. What a dream come true, doing what you love to do, and generating income from it too.

The cost of bringing your product or service to market will be much less because you already likely have done it, love and enjoy doing it, have the wisdom, skills and knowledge. So you have available many of the tools needed. Your learning curve is small or none.

Marketing Your Product/Service

Because you have some of things already in place, you will have the product or service ready to sell more quickly and easily as well.

Yes, marketing is crucial to your success. Today there is so much free, effective marketing available on the internet and other places. Your market is world wide - your product/service is a solution to many people.

The purpose of this article is to inspire and empower you to find a way to earn more cash now and who knows, maybe you’ll find the solution you implement so enjoyable and rewarding, it will be with you a long time.

In a companion article I discussed how to reduce expenses to free up more cash for you.

For more information on increasing getting your cash generating business started, contact me for your complimentary 30-minute consultation. My passion is to assist people to build and grow their personal and business life to achieve happ
iness, success and wealth.

The best to you. Take charge of your life – and - Enjoy and live everyday “in joy”

Barbara Filla
Business/Life Coach & Consultant
Barbara’s Happiness, Success and Wealth Blog

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Barbara Filla Life Style Mentor and Successful Entrepreneur, is helping many become the next success story. Whether you're looking to create an extra few thousand dollars per month, be an ex-corporate executive, or the next millionaire Mom, Barbara can assist you to create a second stream of income and greater peace of mind. For more information visit : Financial Freedom