4 Tactics to Beat Inflation & High Energy Prices

With inflation and energy prices at record levels, consumers are feeling an economic squeeze worse than anything in the last two decades. Just the at-the-pump cost of gasoline has skyrocketed so much that people are already driving less, buying electric cars, taking public transport, and figuring out every way possible to not break their monthly budgets. The same is true, on a larger scale, for inflation.

Across the board increases in the cost of groceries, household items, medicine, dining out, and dozens of other things have sent plenty of consumers into emergency mode. For many hard-working adults, that means taking action like selling their unneeded cars, tightening budgets, and taking extra jobs. The primary goal of all the frenetic activity is to generate extra income and ultimately defeat the general effects of costly gasoline, higher utility bills, and widespread inflation. The silver lining to that dark financial cloud is that there are multiple ways to bring in some much-needed cash. 

Citizens are doing whatever they can to build second income streams. Both computer-based and traditional jobs are part of the solution, even though the vast majority of people attempt to snag a decent online position so they won’t have to do any additional driving. Besides online trading, some of the other profitable positions up for grabs include notary services, virtual assistant companies, job search services, resume writing, medical van driving, selling online courses, and car brokerage services. Consider the following second income sources to see which ones are most suitable for your financial and personal situation.

Notary Services

The need for notarization services has grown in the digital age when so many jobs and contracts are remotely sourced. For so many transactions, an in-person, verified, authentic signature is all that remains to close a deal. This is the typical situation in fields like real estate, banking, auto sales, and others. Every state has its own laws and regulations about how to become a certified notary public, but the process tends to be similar across the nation and only takes a few days.

The secret to building a side income as a notary is to connect with the professionals who regularly use the service, like property sellers, financial brokers, and lawyers. Those three demographics are the targets for most independent notaries. There are a few modest up-front expenses in addition to advertising expenses. Most working adults who become notaries spend at least six months building up a core group of repeat customers.

Online Trading

One of the most interesting and potentially rewarding ways to outsmart inflation and rising energy costs is to open an internet-based trading account with an elite brokerage firm. While there are many online trading platforms, it’s important to do your due diligence and select a broker that has a solid reputation for catering to newcomers. In fact, you’ll have the highest probability of long-term success if you focus not only on finding an excellent broker but choosing one that has a good platform. Additionally, new traders need to acquire in-depth knowledge of the markets they intend to trade, like stocks, cryptocurrency, commodities, precious metals, and others. The ideal approach for those who want to earn from trading is to partner with a top-notch broker, place trades on a proven platform, and operate from a position of having strong knowledge of the markets in which they are active.

Virtual Assistant

This inflation problem may get worse and setting up multiple streams of income can be crucial to survival. Virtual assisting is one of the fastest growing employment niches today. Hundreds of major corporations outsource at least some of their administrative duties to reliable online professionals. As a virtual assistant, your duties include a vast array of chores, most of which are typical office-type tasks that can be done on the internet and remotely for your clients. Depending on the industry and the kind of work you do as a virtual assistant, the pay ranges from modest to very good. In general, the hours you work will coincide with the schedule of the company you work for. However, dedicated virtual assistants sometimes put in just a few hours per week for multiple clients in order to fill out a part-time or full-time schedule.

Car Broker

Automobile brokers are one of the newer additions to the employment universe, but the niche has grown rapidly during the past five years as more vehicle sales are done via the internet, or remotely. The everyday duties you’ll be expected to perform include hunting for specific years, makes, and models for customers. Your clients hire you because they don’t want to visit dealerships or negotiate with salespeople. Car brokers usually charge a per-transaction fee, but sometimes the amount is based on the purchase price of the vehicle you find for your customer.

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