Recession Effects on Making Money Online

So what do you think about recession? Increase in unemployment. Selling/Losing of property to pay mortgages and loans. More people losing their jobs will make them do ANYTHING to generate income.

There are good and bad news with this scenario to making money online.

Good News
More people are looking to make money online are willing to do the same jobs at a cheaper/half the price which settled professionals do. This decreases the cost of the entrepreneur/investor and makes him start his business at a low budget. These professionals again lose out on jobs and are willing to compete with newbies and beat their pricing by working for a cheaper price. Again, the beneficent is the entrepreneur. So the best job during recession is of a entrepreneur/investor.

Bad News
There will be an increasing number of scams in making money online. As we are aware that there are still a lot of scammers out there trying to catch potential fish and make an online income, illegally. The people who have lost their jobs are the group of people who are targeted by these scammers because they are ready to do ANYTHING to generate income.

It is beyond us to control these issues but we can always make others aware so that they don’t lose their hard earned money in some online money making scam. Feel free to blog about this even if your blog is not related to making money online and help fight scam!