Depression Proof Income Streams

This might seem like an oxymoron, but finding depression proof income might be the smartest move you make moving forward. If you read any of my other Hubs, you'll know that I'm extremely pessimistic on the state of the economy and the future. Securing your wealth, securing your family and finding ways to prepare for major times of uncertainty are all high priorities for me these days.

Depression proof income is an income stream that will remain relatively stable even in a disastrous economy. Obviously, this is a tough feat. Let's look at a few options:

Repairs & Maintenance

If you have some handy skills that allow you to fix yourself everyday household items such as air conditioners, bicycles, garbage disposals, or even perform tasks such as lawn care, dry walling, etc. you can lend your skills to your neighbors and other folks during a Depression. In a terrible economy, people will work to get more use out of their items versus purchasing a new one. As such, repairmen will continue to earn a living quite easily.

Action To Take: Find an interest of yours and learn how to fix things related to that interest. For example, if you are an avid biker, learn how to tune up bikes.

Online Income

Establishing an online income stream can very much be Depression proof or at least resistent. Most online income is tied to online advertising and while advertising overall will be very impacted in a Depression, online advertising is a very small piece of the pie and is growing extremely fast. In fact, businesses might focus only on online advertising in a terrible economy since it is more targeted, cheaper, and easily measured.

Action to take: Research ways you might be able to make some money online. Check out the website Earn Money From Home for additional insight and options for you to consider.

Private Instruction / Teaching

During a time of massive unemployment, there might be millions of people attempting to learn new skills in an effort to make a living. If you have some unique or expert skills, you might be able to sell instruction or teaching sessions to individuals. While people will have very low discrentionary funds, you might be able to offer a good rate while still earning some extra money.

Action to take: Take an inventory of the skills that you possess that are rare or unique. Do some trial classes to friends/family/neighbors and get their feedback. If you think it might be a worthy approach, start to consider ways to market yourself (i.e. a website)

Do you have any suggestions that you would add?  Add your comment below.