It is quite a tough year this 2020 because of the COVID-19 pandemic. The pandemic brought a dynamic change in our economy. The unemployment rate in the Philippines significantly increased this year. Everyone has to tighten their belts to survive. Earning money is hard but there are many ways to earn it, it is just a matter of being creative and learning how to think outside the box. Whether you have an extra, just enough, or in desperate need of money – it is better to make an effort to make some extra dough on the side to help you pay your expenses or save a rainy-day fund.
Here are a few ideas to earn money amidst the pandemic:
Capitalize Your Skills And Expertise
There are silver linings despite the negative impacts of the COVID-19 pandemic. This pandemic teaches us to be adaptable and resourceful. The current situation is highly unstable and all you can do is be as productive as you can. Assess yourself. What are your skills, hobbies, and expertise? What do you want to do the most? From there, you can think of something you can start with. You can be a freelancer using your expertise while having a small business that is related to your hobby. For instance, being a part-time consultant and selling pastries. It is also important to consider your available resources and time when making a decision.
Optimize Your Expenses
It is time to go through your expenses. What are the unnecessary expenses you can cut? This is an indirect way of earning money. Instead of allotting a budget for the unnecessary expenses, you can use it to pay the bills or set it aside as a rainy-day fund. This amount of money might be a little but once accumulated it will make a difference. Prioritize your essential expenses and save as much money as you can.
Take Advantage Of The Emerging Trends And Businesses Boosted By The Current Season
The pandemic has brought many changes including the current market’s preferences and demands. The majority of the businesses have shifted to B2B e-commerce which is more convenient and safer. Here are some in-demand industries you can engage in:
- Online Selling – Many customers prefer online shopping especially now that Christmas is approaching.
- Cleaning and Janitorial services
- Medical and Pharmaceutical supplies
- Food Delivery Services
Nobody knows how long the pandemic will last. It is not easy but there is always a way you just have to stay positive. Stick to whatever you set your mind on and be patient. It will eventually yield a result. If you need assistance with your tax compliance, bookkeeping, payroll, BIR audit assistance, and business registration contact us today at firstname.lastname@example.org or 8-809-6463.