By Contributor, Cleo Childress

Year 2020 has been life-changing for everyone. From the COVID-19 pandemic, to the recession, stimulus checks, unemployment, Black Lives Matter, virtual school, and the list goes on.

Life as we know it has changed within our personal and professional lives. One thing that many of us have learned is that our ability to earn money is extremely important. We must take a deeper look at our current jobs and careers to decide if what we are currently doing will benefit us financially during a recession. 

When life is going well, it may seem easy to earn money. When a recession hits, life gets real really quick. We begin to evaluate our skills to determine if they are essential enough to financially support us during a recession. 

Ask yourself these questions: 

  • What do I enjoy doing? 
  • What am I able to do with little effort? 
  • What do other people ask me to do often? 
  • What am I already known for? 
  • What skills and experience do I already have?
  • What new skills am I able to quickly learn? 

Once you’ve answered these questions, you can then create an action plan that will help you use the skills you already have and possibly add new skills into the mix. This action plan could lead to additional streams of income. The time will come again when another recession hits. Getting your skills in order now will allow you to navigate through a recession with financial confidence. 

Consider These Skills You Can Monetize:  

  1. Information Technology (web development, coding, troubleshooting, support, etc.) – We need IT professionals to help keep systems effectively running.
  2. Medical Professionals (doctors, nurses, pharmacists, assistants, etc.) – Medical facilities are always in need of quality staff. 
  3. Digital Marketing – With so many people online everyday, there are more eyes and ears ready and waiting to see what they should read, listen to or buy. 
  4. Social Media Management – Small and large businesses realize the power of social media. It gets more attention than radio, TV and billboards. 
  5. Content Creator – Knowing how to take ideas and create them into fun and exciting content for an audience is important when building a brand and creating savable, shareable content that leads to sales and customer loyalty. 
  6. Videography and Photography – Individuals and businesses are always in need of content. Being able to capture personal moments or a business campaign is still needed during a recession. 
  7. Customer Service – Most of the time customer service representatives are at the front lines of a company. Being able to have kind, professional and efficient customer service representatives is important when operating a business. 
  8. Virtual Assistant – In today’s digital age, we have the ability to get help with projects and not have to physically be in the same room. 
  9. Copywriting – Having the ability to use words in a way that will capture the attention of potential customers and turn them into clients.
  10. Sales – Having the ability to connect and persuade people to buy products and services is needed in every industry. 
  11. Financial Professionals (Accountants, Tax Experts, Credit Experts, Financial Advisors, Financial Coaches) – When a recession hits, many people are in need of guidance to recover from the recession or learn how to continue to do well during the recession. 
  12. Teaching and Tutoring – During a recession the learning doesn’t stop. In many cases, the learning increases.
  13. Transportation and Delivery Services – The need for food and other necessities to be delivered to work, school or home is still needed. Transportation to work, school, home, grocery store, etc. are still needed. 
  14. Mechanic – Vehicles are still being driven on a daily basis, which means there will still be vehicles in need of maintenance or repairs. 
  15. Babysitter – Many parents will still need to work or just need a break from the kids. 
  16. Dog Walker or Sitter– People love their dogs and want to make sure they are well taken care of while they are busy or away. 
  17. Cleaning and Organizing – Understanding how to properly clean and rearrange items at home or at work can help people become more productive. 
  18. Business Coach – Many businesses are started during recessions. Having the right guidance and mentorship is key to longevity. 
  19. Hair Stylist – Many people will still find a way to get their hair done. Some even consider it a form of self care. 
  20. Resume Writer – A recession can cause many people to begin searching for a new job.  Updating resumes may not be something most people do often. 
  21. Fitness Trainer or Yoga Instructor – A recession can bring a lot of mental and physical stress. Many people will begin to work towards new fitness goals.

Schedule a money date with yourself this week to evaluate your current skills. How can you monetize the skills you already have? What new skills can you add to your life?

The sooner you create a new monetization plan, the sooner you can increase your income and reach those financial goals.

**Featured Image via Unsplash.com**

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Created by nationally recognized millennial money expert Tonya Rapley, My Fab Finance is a leading financial education and lifestyle blog for millennials who want to become financially free and do more of what they love.