Government shutdown: prepare with extra income

As we all sit waiting to hear whether or not the government is really going to shut down, it seems like there is no other possibility.

With people on both sides unwilling to negotiate to the detriment of the entire country, the possibility of a drop in the economy seems the most likely option. In the coming weeks, things could get really bad and really scary. What are you doing to prepare financially? And what can you do if you lose your job during the few bad weeks?

Job loss a real possibility

More people will be affected by a government shutdown than you know. Traveling could be near to impossible if you don’t already have a passport or plan to visit any national parks, according to CNN. Hopefully you didn’t already have that trip planned! Anyone with a government job will get furloughed for the time being, and the economy will tank. With a poor economy, the number of jobs will decrease once again leading to a much higher unemployment rate. With fewer jobs, there will be less spending, and that will lead to more people getting laid off. It could be really bad, so you need to be preparing right now for the worst. It is a vicious circle that may be unavoidable at this point.

Should have started saving

It would have been nice if you had already started to save months ago. You would have been much better off if you had prepared ahead of time. You will have to do the best you can to save money while hoping your job isn’t about to get cut.

What you can do now

One way to prepare for possible job loss is to start a second source of income. The best way to do this is to start some kind of online blog. If you can get a good enough following, then you can start making money through ads. One way to do this is through pay-per-call leads. More or less, anytime someone calls the number of the ad on your blog, you will get paid a good chunk of money. Not only will this help you save money now, but it can help keep your lifestyle secure in the event the government shuts down and you lose your job. If you prepare now, then government shutdown will no longer scare you, and you will be ready for the worst.

Source: CNN

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