Recession busting tips
Jasmine says: "Don't think for a moment that an economic downturn needs to be bad news for you and your family. There are always opportunities if you look. In fact, for some, it can mean more business and a greater income, not less."
Rent, rent, rent
We all know that people are now more into renting than buying property, but there are also many other things that can, and should, be rented rather than bought when times are hard. This is another area where you can cash-in.
Driveways
For a start, do you have a driveway or garage you could rent out? There are a few websites now that will advertise your parking space to drivers. Parklet, Parkatmyhouse and Gumtree all offer this service as we explain in our article on making money out of your driveway.
Spare rooms
It's so obvious I hesitate to say it again - but of course if you have a spare room then now is a good time to rent it out and make some tax-free money from it. Under the Government's Rent-a-Room scheme you can make up to £4,250 a year tax-free from renting out your spare room.
And if you can't bear the idea of having someone else in your home 24/7, go for the short-term option of renting to foreign students. We have all the details here in our article on hosting students for cash.
Everything
Then there are other things you could rent out like your car, your power tools, your clothes, your accessories and even your toys. A few rental websites have sprung up recently that aim to match owners with potential renters. Zilok, The Hire Hub, and Rentoid all offer this service. It's a new concept so you may find it slow to start - but if you put your items on all three you will have a better chance of renting them out and making some money.
Everyone is looking for cheap ways to get things done. Of course, for most people price has always been an issue, but it's even more critical now. If you can offer services locally at a much cheaper rate than proper businesses, you could get even more work than before.
For example, find out how much window-cleaning companies in your area charge and offer your services for 20% less.
Or if you're at home looking after your children, register as a child-minder. Many families who used to employ nannies or a private nursery will be looking for cheaper options now and there should be more of a demand for childminding.
If you're a cleaner and you're worried about being dropped because of cost-cutting, offer extra services such as cooking and filling the freezer for your clients.
Are you good with computers? Offer your services as a computer trouble-shooter at a knock-down rate in your local area. Whereas people used to simply throw away their computers when they went wrong, as times get harder they are starting to get things mended. Computer mending can be expensive, so if you can offer a cut-price service there you will be increasingly in demand.
Think about what people need to have done - or would like to have done - but don't have the money to pay. Mending and repair services will be in greater demand, but people will be looking for the best price they can get. If you're good at altering clothes, DIY or repairs to household goods, your services will be needed more and more if your price is right.
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