Virus aside, news bulletins remind us daily that our future prospects are decidedly dire. A line-up of experts warn us about high unemployment, deflation, and ultimately an economic recession… but what will a post Covid-19 world actually look like?
According to a live Facebook discussion that I’ve just finished watching (about the benefits of a Universal Basic Income), we should brace ourselves for a long period of deflation. Apparently we have “enjoyed” an inflating economy for some decades, in fact some of us have never properly experienced a deflating economy before.
Essentially a period of deflation will see the price of goods and services continue to drop for the foreseeable future, so earnings will go down accordingly. With less revenue coming in, businesses will be forced to cut costs wherever possible which will naturally lead to mass layoffs in a huge number of cases. Many businesses will unfortunately fold, adding to the growing unemployment problem.
Positioning ourselves to cushion the blow of pending job losses is paramount. We must look ahead and plan for the worst case scenario.
I spent the bulk of an entire month in lockdown compiling a resource for the unemployed. 50 Ways to Make Money in a Recession is exactly that: practical ideas for affected people from all walks of life. The tips range from simple things you can start doing right now, to longer term business ideas that will work well if executed correctly. My sincere hope is that everyone will find at least one money-making idea that resonates with them and works for their lifestyle.
You can download the ebook directly from this page of my website or find it in electronic and paperback form on Amazon (here). My only request is that you let me know in the comments section below which ideas have proven successful for you.