The Young Money Club

I’m going to be showing you exactly how to make money during the coronavirus pandemic. Now, I know what you might be thinking, “George, isn’t it unethical to profit from the deaths and sickness of millions of people?” and my answer to that question is no.

Neither you nor I are responsible for any of this (unless you’re the guy eating bats…then it’s kinda your fault), so there’s nothing wrong with taking advantage of the opportunity that has presented itself. Not to mention the fact that a lot of people are currently out of work and in need of some more money.

Here is my list of the best ways you can make money during the Coronavirus pandemic.

(Disclaimer: I’m not a financial advisor of any kind, the following are simply my preferred methods of making money/investing during this uncertain period.)

Stocks

This one is more of a long term way to make money, so it may not be helpful for everyone. Since the beginning of the outbreak stocks have plummeted faster than any other time in history. This makes it a great entry opportunity for those looking to invest for their future or just expand their portfolio.

Many analysts are also predicting just as sharp of a rebound after things return to normal. So don’t think of this as a recession, think of this as a clearance sale and load up on your favorites. (My favorites at the moment are airlines and other travel stocks 😉 but do your own research)

Options

This is a little more complex and difficult to understand for new investors but can make you a good amount of money. But be warned, this is also one of the most risky ideas.

If you don’t know what options are, they’re essentially contracts that give you the right to buy or sell 100 shares of a given stock at a specific price within a specified period. Sounds complicated but it’s not too hard.

Options allow you to take larger positions without having to actually purchase the underlying shares. The only downside is that if your prediction is incorrect, you lose the entire amount you used to buy the contract.

During this crazy volatility some people have made the right calls and made 1000%+ returns, others have lost it all. If you know what your doing and play for the long term you can make some serious money. But if you play the game and lose it all don’t come crying to me. Options are about as risky as it gets if you use them to gamble.

Delivery Driving

This is an option I’ve covered in other posts like Driving for Postmates: Is It Worth It? but right now is a very good way to earn some extra cash. I know people personally who have made $400+ in a day by delivering food during this pandemic.

I’ve dabbled in it a little bit but haven’t been so lucky. I was averaging a few extra dollars per hour though, most of which came from generous tips.

If you’ve already signed up it may be time to get back out there, if you’re just looking for some extra cash, now may be a good time to sign up! If you’re interested you can sign up through my referral link here.

Surveys

Honestly….surveys suck, the only reason I’m including them is because they’re easy and can be done at home. There’s a lot of sketchy websites out there that may only pay you 25 cents for an hour long survey. Legit sites typically pay out a few cents to a few dollars for every survey.

From my experience you’ll make roughly minimum wage($8-10/hr) if you’re grinding surveys for an hour. Sometimes it may be more, other times it may be less. I wouldn’t recommend spending all day doing surveys unless you just really love answering questions or can’t do one of the other options. The best sites for surveys are Swagbucks ($10 bonus), Survey Junkie, and InboxDollars ($5 Bonus).

Part-Time Jobs

During this time a lot of people are getting laid-off, not being paid, and working for reduced pay. But on the contrary, many companies are doing the exact opposite. Due to the increased demand for certain products and services, companies are hiring armies of part-time workers.

Specifically grocery stores, retailers like Target and Walmart, and delivery services are all in desperate need for workers. If you’re not too scared to get out in the world for a few hours each day, this is a great option to earn some extra money.