Monday, October 6, 2008

How to make money During a Depression- Part 2

In Part 1, I gave stock betting as a solution to make money, instead of investing in the stocks, you invest "on" the stock. But if you are not a stock expert, it will be tough for you to make a significant profit from stock betting. Now lets talk about the more basic types to make money during a depression.

1.) Look for job options on the Internet. Since economic disasters don't affect some parts of the world, internet is a good income provider which was not available during the 1930s great depression. On the internet, the economy is always on the boom. Google advertisements are a healthy way to make money from a popular website or a blog created online. If you are one of the people that might get hit hard with the economic tsunami, then you should start looking online for job opportunities.

2.) Analyze the affects of the depression. A depression hasn't really occurred it; the economy might flourish again and I think it will. The economists must have learned something form the Great Depression and will try to prevent this from happening. Analyze what affects you are going to have if a depression does occur.

If you are a doctor, then you might actually make more money during the depression, due to the number of patients with high blood pressure, heart attacks, suicides, etc. In this case you don't need to worry about the depression at all! However if you own a business, or have jobs related to stock market, investing, real estate, then you will get affected and that is when you should start piling up some cash right now and look for other ways to make money.

3.) Do more work! If you only have a part-time job, then make it full-time or get two jobs. You need to work hard right now and earn as much as you can before you get fired. It is not difficult to handle two jobs; I know because I have done that in the past to pay tuition fees. If you don't want to suffer bankruptcy, then start earning more money by working more and spending less. Save some money and earn some money in case the depression comes.


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