With the looming threat of a recession, more and more people are looking for ways to beef up their budgets. Seeking opportunities for an income is challenging, but thankfully, the internet offers many ways to make money online — even for those without prior experience or specialized training.
Freelancing and monetizing social media are popular ways to make money online. Selling digital products like online courses and photographs is also a popular strategy to generate income using the internet.
1. Look for a Freelance Job
Freelancing is a type of contract work that may be a side job or a full-time business.
Professionals with nine-to-five jobs have ventured into online freelancing for additional income, and freelancers with in-demand skills like copywriting and graphic design may earn up to $45 an hour. Starting a freelance career is easy with websites like Upwork and Fiverr as resources for online job opportunities.
2. Start a dropshipping gig
Dropshipping involves a simple business model: find a great product online and act as an agent between the product and the consumers. Look for affordable products on the internet, purchase them wholesale, and sell them using an e-commerce storefront.
3. Teach an Online Course
From plumbers to marketing specialists, people have a skill or expertise they can share online. Sites like Udemy and Skillshare help individuals who are passionate about teaching create their own courses and connect with students. Check existing courses and determine how you can improve them as you create your own modules.
4. Offer online translation services.
Speaking a second language is a skill you can bank on in the digital world. Online translators earn an average of $15 to $25 per hour, and this could go up depending on the project scope and additional services the clients may require, like SEO. If you’re a polyglot and want to earn $100 to $300 at home, try online translation.
5. Make a YouTube channel.
Starting a YouTube channel can be a good investment, as social media users with a solid number of followers can monetize their accounts in various ways.
One is through affiliate marketing, such as the Amazon Associate Program, where you list products you want to promote and use its link-building tool to connect sales through your social media account. You’ll receive a commission each time a social media user purchases a product using your affiliate link.
6. Sell old things
While this option involves a bit of work offline, platforms like eBay and Poshmark make it easy to connect with a consumer market. Look around your home for old things you don’t need and list them online to make quick cash and clear the clutter.
7. Answer surveys
Survey websites like SurveyJunkie connect with public relations companies and marketers to conduct research on a variety of products and services through online surveys. You can earn up to $40 a month answering survey questions from the comfort of your home.
8. Create a blog
Advertisers pay bloggers to promote their products and drive traffic to their own websites. If appearing on camera isn’t for you, consider starting a niche blog where you can write about things you are passionate about and monetize it at the same time by using platforms like Google AdSense.
9. Sell Photos
If you have a knack for photography, selling photos of products you use is an alternative source of income. User-generated content, or UGC, is a subcategory of marketing photos where brands pay you for photographing how you use their products and then license the images for use on their social media.
10. Develop an app.
If you’re experienced in creating mobile apps, you have a very profitable skill, as the mobile app industry is expected to cash in $613 billion in revenue by 2025. You can work with online businesses, government entities, or creatives that want to bring their ideas to life. You can also develop your own app or game, list it on a public app store, and offer downloads for a small fee.
There are plenty of ways to make money online, and some are great opportunities for creating passive income. However, with inflation rates still rising, maintaining overall financial health also involves managing your resources and finding opportunities to maximize them. When you begin to see your bank account balance rise, plan to pay off your debts faster or learn about investing and diversification to grow your money for rainy days.