Making extra money online needs not to be difficult. It however requires you to set aside some time and put in the work. Making money online eventually boils down to what your goals are and how much you are willing to risk.
There are several ways to make money online. Some are passive while others require a more active role. For example, drop shipping is an active way to make money online. You need to setup an online store, market it and process orders for delivery to make money.
By comparison, you can make free money online passively at an app like Honeygain. The app pays you to share your extra bandwidth with other members of its network. No surveys needed. No watching ads—all you need is to keep your devices and WiFi on to get paid.
In other words, there are many ways to make extra money online. Below are some of them:
Becoming A Virtual Assistant
This offers a low friction entry position in digital services. As a virtual assistant, you will have to be highly time-efficient and organized. This is partly because the majority of the tasks you will be doing require your unwavering attention.
Remote jobs can be found on platforms that host gig jobs. You’ll need to be an effective communicator, fluent in the language required, possess basic software application knowledge, and have good organizational skills.
1. Trading Financial Instruments
Financial instruments have become easily tradeable at the click of a button. Online brokers have lowered the commissions required to trade these assets. It is now possible to trade different asset classes like cryptocurrency, stocks, and options from the comfort of your house.
You can spruce up your knowledge of financial markets via online books and webinars. You can also practice trading with demo accounts before trying out the real markets. This helps in acquiring and perfecting a trading strategy.
2. Managing Airbnb Properties
Another unique approach is to convert spare rooms to Airbnb for rent. You can the advertise your Airbnb’s online to draw in potential customers. No matter how big or small your space is, Airbnb can be a good source of passive income.
However, the space must have basic amenities like water power and Wi-Fi. Additional materials can be brought in to make the space more attractive to potential clients. Another cost of doing this kind of business is the constant care that you need to direct towards your Airbnb properties.
The rooms need to be kept clean and amenities constantly maintained. You can hire a professional cleaning crew to attend to the space if it’s large. If the space is relatively small, you can decide to clean it yourself to save up on costs.
3. Creating Webinars
The world is currently in the information age. If you possess a special skill set, you can hold webinars. The webinars will offer opportunities for people who are interested in learning from you to access you. You can then monetize the webinars to gain financially from such efforts.
One can also use webinars be used to promote the sale of other people’s products. Use this platform to explain the products or services on offer to interested clientele. The good thing as that you do not need to have a product or services of your own. You can sell other people’s products and services to earn commissions.
4. Social Media Management
The rise of social media brought about new positions in the job market. Small and medium enterprises need to constantly engage with their customers. Social media management aims at increasing brands’ exposure and hopefully gain business from these interactions.
Building a social media management company will enable you to charge a monthly premium to handle clients’ accounts. Interacting with clients and answering queries is what social media managers mostly do. This can be a comfortable well-paying side job. However, you will have to pay attention to various social media engagement metrics.
5. Creation of Online Courses
Online courses are a great way to not only make extra money but also passive income. It requires upfront dedication and time when developing the course. The gains are well worth the pain, though.
You can monetize whatever skill you might possess using an online course. Making online videos, live streaming on sites like discord, and bundling your packages may offer a meaningful return. For your online course to succeed you must advertise and try to gain a following.
Your course should also offer something of value to those who enroll. The best form of marketing is word of mouth. As such, offering relevant and helpful content will lead to referrals.
6. Becoming an Online Tutor
Online tutoring is rapidly gaining traction. Covid 19 has forced people to embrace learning from home. This has caused the demand for online tutors to rise. Websites like Tutor me and Skooli have capitalized on this by entering the online tutoring space.
You can capitalize on this opportunity by offering lessons on subjects that you are proficient in. The money earned from tutoring can be used to supplement your income.
7. Selling Photographs
A phone with a high-quality camera or a professional camera can serve as a great asset when it comes to making money online. Did you know can make extra cash for photos taken without necessarily being a professional photographer?
There are numerous stock photo websites that allow members a chance to sell photos to the general public. The sites will, however, collect a huge commission from your sales.
8. Advertise On Your Car
You can earn extra money by turning your vehicle into a moving billboard. You can wrap your vehicle with your preferred advertisement for a small monthly stipend.
Companies will pay to have you don their logos. This is the ultimate form of passive investment as it doesn’t interfere with your schedule. The effort exerted is also limited.
Final Thoughts
If you are looking to earn a living off the online market, the tips discussed above will help you get started on the right footing. This can be a great path to financial security and freedom
