You may have seen this kind of article all over the internet recently, so you’re pretty sarcastic about what I’m about to say. But note this, I’m not going to say that the things listed here are the best way to earn money in 2020, what I’m trying to say is the safest way to earn money in 2020.
We are going to be hit by a huge storm of economic uncertainty this year. The virus that is out and about is going to cost a lot of companies billions of dollars, which later means that workers are going to get laid off by the millions. Imagine 2008 but on a much larger scale. Therefore, it is imperative that you know where you can have a steady income even if it is not millions of dollars every year that other articles may promise you.
So, now that we’ve set the tone, let’s dive into 3 of the best ways you can earn money in 2020 without having to leave your house.
Forex trading
Forex trading is most definitely not the safest way to earn money when there is no financial crisis out and about. In fact, it’s one of the riskiest things you can do. However, it has an amazing feature that lets it be almost untouchable by no matter what happens with the economy. People are able to place trades on depreciating currencies and make profits off of that. This means that no matter where the economy goes this year, there will always be an opportunity to profit from Forex trading.
The best way to get into Forex trading as a beginner is to learn how the software works. The best suggestion would be to learn the Metatrader4 software because it’s pretty much the Google of trading. Almost 95% of traders use it.
Next would be a decision on which currencies you want to trade. I suggest always pairing up a currency with the USD or EUR. This makes the trade much less risky. Sure it may not lead to huge profits in the beginning. But slow and steady wins the race when it comes to Forex, so it’s best to take things easy.
That’s pretty much it. Nobody thought Forex would ever be a safe way to earn money, but thanks to the recession that’s on its way, it may be the best place to be.
HR service
Going back to that whole recession argument. It’s pretty obvious that we will be seeing some serious issues in terms of unemployment rates in the coming years. Considering that most people would have to settle down for pay cuts, or go with jobs they don’t necessarily want but need it could be an amazing time to set up an HR service agency.
In all honesty, having an HR agency is definitely not hard. All it takes is to simply call yourself an HR agency and most companies will start taking you much more seriously than an individual applicant on one of their job listings.
Furthermore, you as an agency will have exclusive access to company positions way before they are displayed publicly for everybody to speak. The first few months may be a bit rough as you network your way through companies and try to establish connections. But once all of that is squared away, it will be time to promote your agency to job seekers and start finding jobs for people.
Even though there will be a huge increase in demand for jobs coming this year, it still does not make sense to place a high price on your services. Remember, people are looking for jobs in order to continue paying their bills, so they most likely don’t have too much remaining to give for your service. Putting a slightly below-market price on your service could guarantee swarms of applications.
Freelance journalism
With the pandemic growing ever so strong the world keeps on requiring more and more information on what is going on in most of the countries. Considering that the mainstream media in these countries is in the local language, not too many people are able to understand the situation clearly.
Taking information from your own country and translating it into English or other largely accessible languages could land you a steady income with a reputable news outlet. This is especially the case if your country is currently very successful and holding back the virus. The information spread by your local experts could be very valuable for news outlets abroad.
The best way to do this is to reach out to some of the largest news websites you know of and offer your services. The first few articles may be demanded to be free, but once the delivery becomes consistent, there is room to request payment.
Considering that you’ll mostly be doing translations, it’s quite a low-effort/high-reward gig.
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