5 side hustles that can boost your wealth during a recession

From dropshipping to NFTs, crypto, copywriting and more, these side hustles can help you boost your bank account.

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We live in a time when money is being traded faster than ever. If you know how to navigate the web, you can take advantage of the nearly 30 million Canadians who shop online each year. But like most adults, you probably have a day job that keeps you from new ventures. And if that’s your perspective, chances are you haven’t explored side hustles yet. These are gigs that you can work part-time to increase your income and potentially replace your full-time job one day.

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photography and videography

The photographed image is one of the few forms of content that is more valuable than the written word. And if that photo is a moving video, all the better. So if you’re looking for a side hustle that might scratch a creative itch, this might be the way to go. Social media platforms like Instagram and TikTok dominate the industry, so image-based content will only become more valuable over time.

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If you’re not sure where to start, you can learn modern photography best practices with a few easy and affordable online courses. These accessible resources can also show you how to optimize your images for valuable social media platforms.

Dropshipping with Amazon

Many parties are involved in making a product in one location and then selling and shipping it to another. With Amazon’s dropshipping services, the intermediaries between creators and consumers can now operate from anywhere in the world. If you have no idea what that is or how to get started with it, take a moment to check out the 2022 Complete Amazon Dropshipping & Private Label Master Class Bundle.

This 4.5/5 star rated pack consists of eleven courses and will show you how to find, source and sell your first products on Amazon. The information comes from Brock Johnson, a multimillionaire who has sold over $8 million worth of products on Amazon. Training covers in-demand and effective strategies for paid-per-click advertising, blocking prevention, and starting and scaling a business. That might sound like a lot for a side job, but if you start learning now, you can build yourself a stream of passive income for years to come.

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NFTs and cryptocurrency

Even if you’re not actively following the blockchain revolution, you’ve probably heard about it from a friend or colleague recently. The Bitcoin and Ethereum craze has inspired a series of endless competing coins trying to replicate their value, new celebrities every day and the launch of parallel markets like that of NFTs. However, similar to dropshipping, these supposedly lucrative worlds are often marred by ambiguity and confusion.

To set things straight, you can opt for an all-in-one NFT masterclass for artists and entrepreneurs. Once you learn how to create original, compelling digital art, interact with and invest in the blockchain, and mint NFTs, you can open up an entirely new and potentially fruitful endeavor as a crypto trader and NFT entrepreneur.

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No matter what industry you’re in, you have a message that needs to be conveyed to an audience. And if you’re talented at delivering those kinds of messages, copywriting might be for you. This side hustle can quickly grow into a full-time career; it just depends on your ability to attract clients, keep them and grow in terms of your skills and professionalism.

When you start out as a copywriter, there are many avenues you can take including advertising school, responding to Craigslist ads without a portfolio, taking on smaller projects, and slowly building a client base. But no matter how you find your way into that side job, once you’re there, the freedom can be compelling and make it easy to keep your main job for as long as you like.

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Invest

Investing may seem like a generic side-hustle concept, and that’s part of what makes it appealing. Use your perspective of the world and your interests to focus on an industry that’s of particular interest to you, then research how to invest in it. If you’re interested in general savings and wealth growth, consider one of the many financial services applications and regularly allocate portions of your paycheck.

Building a portfolio and developing different strategies to save, grow, and preserve your wealth can act as both a safety net and a side hustle. If you focus on an evergreen sector like real estate, you can brace yourself for significant, life-changing gains.

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