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Side Hustle — Recession Proof Action Plan
With inflation on the rise and a possible recession looming in the distance, now is the time to be prepared. Being prepared and having a plan for the recession can help alleviate financial stress in the future and give you economic security.
So if you have an entrepreneurial spirit, or you’ve been thinking about putting your side hustle idea into action, now is the time to do so. Keep reading to learn how you can fight this recession with a side hustle action plan.
Recession 101?
A recession is a business cycle contraction that involves a temporary decline in economic activity. This typically occurs when there is a widespread drop in spending. During a recession, the economy struggles, trade and sales activity declines, people lose their jobs, and the overall economic output declines.
Bankrate Indicates that Side Hustles are a Necessity for a Growing Number of Americans
According to Bankrate.com, 41% of adults in the United States have a side hustle to help with living expenses. This number is up from 31% in 2019.
