- Chris R.
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- Published: May 18, 2020
- May 18, 2020
“MoolahNinjas main goal is to help our readers improve their financial lives. We partner with other companies that share that same vision. Some of these links in this post may be from our partners. This is how we make money.”
You’re unique!
We all are, and the way you’ll work happiest and perform best is different for each and every one of us. Making money from home is your key to designing a lifestyle that’s custom-fit around you. Not somebody else…
Because guess what!
The 9-5 workday is obsolete! It’s not the industrial period, we’re not all working in production lines creating 100 cars a day… So why work a 9-5 that treats you as if you are?
Read on as we share 20+ methods anyone can do, regardless of age, experience, background and all the other factors that office jobs judge people by…
SCORING METHOD
We rate each method using the following rankings, use it to find the best one for you!
Total Time
Based on two factors Startup and Payment:
‘Startup’ compares how long you need to prepare before working. Similarly, ‘Payment’ compares how much time it will take to make money.
Difficulty
This is comparing how hard it is to be successful with the method.
Potential Earnings
This compares how much you could earn.
4 Best Ways to Make Money from Home
You can start these in your spare time! If you especially like one, focus on it to earn more!
1. Do Cryptocurrency Trading
Cryptocurrencies are traded like stocks and forex, but with an extremely higher potential for profits thanks to how quick and often the prices move around.
Many people are afraid of earning through cryptocurrencies, but the reality is that with the right tool, it can be extremely easy and profitable.
Trading cryptocurrencies is simply buying at a low price, and selling for a profit at a higher price.
Making successful trades is difficult as a beginner, but we’ve recently discovered an auto-trading software called ProfitFarmers. From finding the right coins to trade to placing and tracking them automatically, this tool literally does everything for you!
We’ve tested it ourselves, and you can see our review here.
Cons
- Losing your cryptocurrency wallet would mean losing all the money inside of it for good.
- There are withdrawal fees on most trading platforms.
Total Time: Low
Startup: Fast
- Once you have a wallet and crypto-exchange account, you can start buying and selling coins.
Payment: Fast
- You can get your profits in less than a day and withdraw them.
Difficulty: Medium
You need to do a lot of research so you can collect more wins than losses. However, there are plenty of helpful guides that explain cryptocurrency and trading softwares that can automate success from day 1.
Potential Earnings: Big 
The crypto market is volatile, meaning the prices move quick and often. This volatility makes it possible to earn 50-100%+ profits on a trade in just a few hours!
Requirements:
- A proper guide explaining cryptocurrency in detail
- If you’re a beginner, a trading software to help you make money
- Money to deposit and use in trades (usually just a few hundred euro)
- An account on any cryptocurrency exchange platform
2. Fill Out Paid Surveys
Giving your opinion is not hard, especially when you’re getting paid to do it. Companies need their market’s opinions to improve or create products, and they’re willing to pay for it!
Just sign up to a survey site, share some info about yourself and start taking surveys! They typically take 10-15 minutes to complete, and doing this simple task builds up to a nice chunk of change in your pocket.
Why not sign up to multiple sites and increase the amount of surveys you can take? Here’s some that we’ve tried and tested true ourselves:
 | Earn up to $50 on your first day, | Visit Page |
 | Earn $5-$20 by taking a survey in just 3 minutes | Visit Page |
 | Get between $0.50 and $10 per survey | Visit Page |
 | Take a survey and earn $15 per hour! | Visit Page |
Pros
- Low commitment; you can do other things while answering.
- Most surveys only take a few minutes to finish.
Cons
- It can take time to make a large amount of money.
- Some portals cut you off midway through a survey if it becomes clear you are not part of their target market.
Total Time: Medium 
Startup: Fast
- Signing up and answering surveys take only a few minutes.
Payment: Slow
- Every paid survey platform has a different payout amount, ranging from $5, which can be reached pretty quickly, to $50, which will take much longer.
Difficulty: Low 
You don’t need any special skills or background to be able to answer paid surveys.
Potential Earnings: Small 
Most surveys pay $0.5 to $5 for about 5 to 20 minutes of your time, depending on the topic.
Requirements:
- Read a guide to help you strategically take online surveys
- Phone or computer
- Internet access
3. Do freelancing Jobs
Freelancing is one of the easiest ways you can make money from home.
Just take your skills, go to an online job posting site, and find clients to work with! You can make good money working on projects that are interesting to you.
Some skills you can freelance with are:
- Web Design
- Copywriting
- Data entry
- Virtual assistant work
- Content creation
You can even work as a freelance consultant for skill sets like marketing, engineering, law and accounting. There’s no limit to what you can do!
Pros
- Freelancing lets you take full control of your work schedule.
- Almost everyone has SOME skill they can freelance with.
Cons
- You don’t get the government and health benefits of a typical office-based employee.
Total Time: Low
Startup: Fast
- You can start advertising yourself on various platforms in less than an hour.
Payment: Fast
- You negotiate your payment schedule with your clients.
Difficulty: Low
Most people will already have a sellable skill to start with. Building your reputation for higher paying jobs could take some time.
Potential Earnings: Medium 
Freelancers can make $100’s to $10,000’s a month depending on the industry.
Requirements:
- Read this guide to start a successful freelance career
- A proper work station
- Stable internet connection
- A portfolio of your previous work
- A valuable and sellable skill
4. Do Blogging
Would you enjoy talking and writing about your thoughts on various topics? If so, blogging could be a fun way to earn from home!
Start a blog for free through platforms like WordPress, and easily upgrade to premium features (like having your own website at www.yourname.com) for very cheap.
Bloggers typically make money by building up an audience they can monetise by promoting products, services, courses etc.
- Extremely customizable design, features, and functionalities
- Can incorporate third-party tools
Here are more ways to make money:
- Join an affiliate program. Affiliate marketers promote a product or service through ads or links, and they get a commission for each click
- Attract sponsorships and endorse their products or services
- Sell your own products or services (like your own courses or coaching!)
Pros
- Starting a blog is very easy, especially if you have chosen a niche.
- You can get to write about your passion and make money on it!
Cons
- It can take years to start making $1,000+ a month.
- Your passions might not be profitable topics.
Total Time: High
Startup: Medium
- Creating your website, publishing your first post, and marketing your blog to attract readers usually takes a few days.
Payment: Slow
- Your number of monthly readers directly affects how much you earn. Getting frequent visitors to monetise on can take 6+ months.
Difficulty: Medium
Anyone who likes to write can start a blog, but they have to be strategic. You can check out the ten steps to be a successful blogger in this guide.
Potential Earnings: Big
If you manage to get 1,000 to 50,000 readers monthly, you could earn $1,000-$10,000+ a month.
Requirements:
- Read a detailed guide to a profitable blogging strategy
- Open an account on any blog-hosting site
- Choose an interesting and profitable niche to write about
- A consistent posting & outreach schedule
Other Things You Can Do Using Social Media
If you’re more interested in building an income through social media sites, then read ahead!
5. Becoming an Instagram Influencer
Instagram is one of the hottest ways to make money online. You share your lifestyle, hobbies or interests through photos, build a following, and eventually get sponsors and brand deals. With a large enough following you can get paid $5,000+ per sponsored post!
To be an influencer you should start by:
- Picking a niche you’re passionate about
- Getting an Instagram Business account
- Building a great bio
- Learning about using the right hashtags
We recommend you to register on these sites:
Pros
- Flexible working hours and high earnings potential with a large number of engaged followers.
- You can post any subject you want, as long as it has a quality that would attract followers.
Cons
- It can take a while to get lots of followers.
- There’s high competition making it harder to stand out.
Total Time: Medium
Startup: Medium
- Creating an Instagram business account takes a few minutes, but it takes months to build up a large following.
Payment: Slow
- Getting a big enough following that you can monetize with affiliate products or sponsorships takes months to years.
Difficulty: Medium
You need to understand your audience well so you can post content that they’ll relate to and engage with.
Potential Earnings: Big
Essentially, the more followers you have, the more you can expect to earn.
Requirements:
- Know all the ways of making money on instagram
- Have a good idea for beauty or knowledge of pop culture to stay relevant
- Decent photography and photo-editing skills
6. Become A Youtuber
YouTube is a fun and creative way to make money expressing opinions and sharing your knowledge.
Video has quickly become the most popular type of online content, so if you can create quality videos, your potential earnings are practically unlimited.
Youtube gets millions of watch-hours each day, making it a perfect place to post videos and generate a passive income.
You can make money by:
- Selling merchandise
- Getting sponsorships
- Becoming an affiliate partner
Pros
- You can earn from your videos years after posting them, making Youtube great for building up a passive income.
- Producing quality content that makes a lot of money can feel very fulfilling.
Cons
- You might spend hours working on a video to only get a few views.
- Unless you get lucky with a video going viral, it takes time to get lots of views & subscribers.
Total Time: Medium
Startup: Fast
- Anyone can make a YouTube channel in minutes! No qualifications required.
Payment: Slow
- It can take months to years before you start earning from your videos.
Difficulty: Medium
Popular topics have high competition, but that doesn’t mean you can’t make videos on it.s. People are constantly looking for fresh content, so try your best to stand out or pick a topic with low competition.
Potential Earnings: Big
YouTubers with a million subscribers can make thousands of dollars a month per video.
Requirements:
- Know all the ways to maximize your profits on YouTube
- A topic that you’re truly passionate about
- A decent camera and microphone
- Publish high-quality videos regularly
7. Stream on Twitch
Twitch is one of the most popular gaming streaming services, making it a great way to earn money from home by recording your gaming sessions.
You could even make Twitch gaming a full-time career if you enjoy it enough!
Tips for getting started:
- Find a game streaming software
- Invest in a good camera and microphone
- Stream regularly
Pros
- You get paid to play video games!
- You just need an entertaining personality, not pro-gaming skills.
Cons
- Popular streamers get almost 90% the platforms’ views. So expect very low views when you start out.
- Twitch streaming can become addictive and harm your health, so you make sure you take regular breaks.
Total Time: Medium
Startup: Fast
- Making a Twitch channel is easy! Start streaming in a matter of minutes.
Payment: Medium
- Streamers who are either Twitch Affiliates or Twitch Partners cash out every 15 days after the end of the month.
Difficulty: High 
You’ll need to be very charismatic and play games well if you want to compete against top streamers.
Potential Earnings: Big
More followers = higher earnings! The most popular streamers get paid millions of dollars a year!
Requirements:
- Know how to properly make money from playing video games
- A platform of your choice (PC, Switch, Playstation, or Xbox)
- Engage with your community regularly
- Set Twitch chat rules
8. Use Affiliate Marketing
Creatively promoting a product/service, and receiving a commission for each sale you generate. That’s affiliate marketing in a nut-shell.
You can make a massive passive income after you get started! Simply build up an engaged audience, and share affiliate offers within their interests.
From blogs to youtube videos and even social media posts, easily find a way to do affiliate marketing that’s both interesting and profitable for you.
- Very active affiliate marketing portal
- New products are being added every day
- Payouts are always on time
- Most famous ‘Cost-Per-Action’ advertising companies globally
- Made up of thousands of campaigns and affiliates
- Specialized in maximizing ROI of both advertisers and affiliates
Tips for getting started:
- Make a website, blog or social media channel to attract a targeted audience
- Apply for many affiliate partnership programs
- Learn how to make a good sales funnel
Pros
- Save the time and hassle of creating products by promoting others’ instead.
- Low-to-no qualifications required to join an affiliate network.
- Huge earning potential.
Cons
- Affiliate offers can expire, so without frequently checking you can go weeks without earning anything.
- Some lower-end affiliate networks may cheat you and not fully pay what you’re owed.
Difficulty: Medium
Making a website, blog or social media account is easy, but creating content that converts visitors into sales can take months to learn properly.
Potential Earnings: Big
With a large, engaged audience you can make $10,000+ a month through affiliate links.
Requirements:
- Follow a detailed guide to affiliate marketing
- An Understanding of different ways to sell online
- Content with relevant affiliate links
Make Money from Home by Selling Products Online
There are many platforms where you can easily promote items to a wide audience.
We’ve listed the best ones below, so read on!
9. Selling Books on Amazon
If you’re good at writing, then why don’t you try publishing a book on Amazon?
With thousands of people buying eBooks on Amazon every day, this offers an unheard-of opportunity to reach an audience that will love your content.
Some of the most popular genres:
- Self-help
- Travel
- Romance
- Thriller
- Adventure
- Horror
Pros
- You can publish your books almost instantly, whenever you want.
- You can write on any topic.
Cons
- Amazon controls your product’s listing, rank, and availability.
- There’s a LOT of competition, so you’ll need to work hard to make yourself stand out.
Total Time: Medium
Startup: Fast
- Making an Amazon Kindle Direct Publishing (KDP) Account and listing your items takes roughly one hour.
Payment: Medium
- If you’re a new seller, it can take around 30 days before you receive payment.
Difficulty: Low
Once you’ve written the book, you can publish and list it on Amazon in just a few hours..
Potential Earnings: Medium
What you earn depends on many factors, but marketing your book well is most crucial. If enough people start buying then Amazon might start promoting it too!
Requirements:
- A well-written book (This guide shares the best secrets for promoting your eBook!)
- An Amazon KDP Account
10. Selling Used Items Online
If you have ‘pre-loved’ items that you don’t use, consider posting them online to collect some cash from them!
Reach a massive market selling your items online, just open accounts on various marketplaces and you’re good to go!
Some online marketplaces:
Spocket has many products, good customer support, and fast shipping. They are our favourite choice.
Pros
- Everyone is looking for something, so you can sell practically anything!
- It’s easy to make an online item listing.
Cons
- Marketplaces might suddenly de-list your items without warning.
- This won’t make you money long-term unless you have a steady amount of items to sell.
Total Time: Medium
Startup: Medium
- Taking proper photos and writing catch descriptions can take time, especially with a lot of items.
Payment: Slow
- Each selling platform has its own rules for payment, so check with them before you list items there.
Difficulty: Low
Anyone can list an item for sale online.
Potential Earnings: Medium
You could make $1,000”s depending on your item’s value and demand.
Requirements:
- An account at an online marketplace
- PayPal or a similar payment processing account
- Used items to sell
- Shipment options
11. Sell Handicrafts
If you’re talented at making hand-crafted products, you should consider selling them online. People are willing to pay good money for limited-production hand made items!
Here are some tips for selling handmade products:
- Open an account in an e-commerce website, like Etsy
- Open an online shop on social media sites like Instagram or Facebook
- Promote your products on your blog or in YouTube videos
The more exposure your product has, the better!
Pros
- Low initial investment. Many popular handcrafted products use cheap materials but can be sold for a high price.
- If you enjoy creating things, you can make money pursuing your passion.
Cons
- Marketing your products to the right people can be difficult.
- Creating your products could take up a lot of time.
Total Time: Medium
Startup: Slow
- Unique handcrafted products can take weeks or months to finish.
Payment: Fast
- Buyers will usually pay upfront.
Difficulty: High
Time and skills are required to consistently produce high-quality items.
Potential Earnings: Medium
You could make $1,000’s from a single, well-made item!
Requirements:
- A high-quality product
- A shipment processor
- An interested buyer
12. Sell Clothes Online
The clothing industry is worth billions, and the internet continues to increase that number! This means you could make $1,000’s selling popular clothes online, there’s definitely no shortage in demand!
You can sell clothes through:
- A Facebook Business Page
- An Instagram Business Profile
- Shopify
Pros
- Make a sale passively as the internet never sleeps!
- Easily market your products through targeted ads.
Cons
- With so much competition, you might not get any sales if you aren’t offering the lowest price.
Total Time: Medium
Startup: Medium
- Choosing a platform to sell in, such as an Instagram business page, taking good pictures of the clothes you want to sell, and posting your items might take a week or so.
Payment: Fast
- Sales and transactions are instant.
Difficulty: Low
It’s easy to post photos of clothes online.
Potential Earnings: Medium
You can make thousands of dollars selling clothes. However, shipment fees and your competitors’ prices can lower profits.
Requirements:
- A stock of clothes to sell
- A proper payment processing system
- An account in an e-commerce website or a social media business page
13. Sell Stock Photos
If you enjoy taking photos, then you can hone in on your skills and make money from it!
There are many sites, like Shutterstock, Getty Images, and Alamy that let you license and sell your photos in bulk or individually.
Here are some of the most popular stock photo categories:
- Business
- Exotic locations
- Events
- Everyday items
- Landscapes
Pros
- Taking sellable images isn’t difficult.
- You can sell the same image multiple times.
Cons
- It’s a competitive industry, so serious money, requires serious effort.
- If you want to take photos for a living, you’ll need to do more than selling stock images.
Total Time: Medium
Startup: Medium
- Getting your photos approved can take a few days.
Payment: Medium
- Most platforms pay out at fixed intervals or after reaching a certain account balance.
Difficulty: Medium
If you want to make larger amounts of money, you’ll need to spend time learning to take better pictures.
Potential Earnings: Medium
It depends on how popular your photos are, and the type of license you sell them with. Expect roughly $50-$1,000+ a month.
Requirements:
- A decent camera
- Basic photography skills
- Editing skills
14. Create an Online Store in an eCommerce Site
Making an online store to sell your items through could quickly build up to a lot of money.
You can make a site from scratch or use templates from platforms like:
Spocket has many products, good customer support, and fast shipping. They are our favourite choice.
Pros
- Design your site to your taste and preferences, making it unique to your brand/name.
- You can earn a passive income, as your store never sleeps!
Cons
- Building a trusted ecommerce business requires a lot of attention and time (weeks to months!).
- You’ll need to learn basic marketing skills to do well.
Total Time: Medium
Startup: Medium
- Using a drag and drop builder for your site won’t take long, but posting your items and organising them nicely can take time.
Payment: Fast
- Depending on the payment processor plugged into your site, purchase payments can be instant.
Difficulty: High
Ecommerce is a very competitive industry. You’ll need to use effective marketing skills and optimise your site for SEO if you want to attract visitors to your online shop.
Potential Earnings: Big
With good products and smart marketing, it’s possible to make thousands of dollars a month.
Requirements:
- An account in an ecommerce website
- Good products
- Easy payment options
More Ways To Earn
If making money online isn’t your thing, then why not go old-school?
15. Have Your Car Rented
If you don’t use your car often, renting it out could be a great way to make money instead of it just sitting around!
If you’re interested, here are a few tips to help you get started:
- Make a clear and concise guideline for renters
- Decide whether you’ll accept cash or credit
- Set a timetable for your renters
You could also make use of ride-sharing platforms like:
Pros
- It takes almost no effort to make money. All you have to do is set a few rules and give the car keys to a renter.
- A car is a depreciating asset, so you might as well make money from it before you have to sell it
Cons
- Some renters will do whatever they want in your vehicle and end up damaging it.
- Insurance paperwork can be a headache.
Total Time: Low
Startup: Fast
- Just post your rental services on social media and wait for people to contact you.
Payment: Fast
- You can request payments upfront or ask clients for an initial deposit.
Difficulty: Low
Once a renter agrees to your guidelines and signs a contract, you collect your fees and give them the car keys.
Potential Earnings: Medium
Hundreds of dollars a month can be earned by doing this. Just remember you’ll have to cover your car’s repair and maintenance costs.
Requirements:
- A car
- A clear set of rules for renters
- Car insurance
16. Look After Other People’s Pets
Are you an animal lover? If so, then why not make money from it!
You probably know a few friends and neighbors who might need your services. This is perfect for pet owners going away on a trip or going home late and need their pets cared for during their absence.
Here are a few tips for starting:
- Prepare a record file that lists down a pet’s breed, color, health history, and other important details
- Allocate an area in your house that will keep pets from harm
- Identify what features you can offer with your service
- Advertise your services, start with people you already know!
Pros
- If you have enough space, then you can pet sit right from home!
- This is an ideal job if you like taking care of animals!
Cons
- Poorly trained pets can damage your property if you’re not paying close attention.
- You will have to clean up a LOT of feces and urine.
Total Time: Low
Startup: Fast
- Friends and neighbors will likely be some of your first few clients.
Payment: Fast
- Get paid as soon as the owner picks up their pet.
Difficulty: Low
If you love animals, then you probably already know how to look after them.
Potential Earnings: Small
$100’s can be made with pet sitting. However, jobs might not come that frequently.
Requirements:
- A sizable space in your house
- First aid kits for you and the animals
- Basic knowledge of animal care
17. Host Your Home in Airbnb
With a house, room, caravan or anything similar, you can list it on AirBnb to make good money renting it out!
Many travellers choose to book their rooms on Airbnb over hotels because of cheaper prices, better locations, and unique experiences.
Before you host your home on Airbnb, prepare these things:
- Good photos of the place you’re listing
- House rules
- Housekeeping services
- A memorable feature
If you create a pleasant experience, you can expect tips, a good review, and new connections!
Pros
- It’s a great way to make money from unused space.
- You can change prices depending on the season to earn more.
Cons
- Guests may damage your property.
- There are many costs to factor into your pricing.
Total Time: Medium
Startup: Medium
- It takes a few days before Airbnb verifies your listed property.
Payment: Fast
- You can ask short-term renters to pay as soon as they arrive.
Difficulty: Low
Property maintenance is your main concern. Fortunately, you can hire someone to clean and maintain for you.
Potential Earnings: Medium
With a good location or peak season, you could earn a lot.
Requirements:
- Own property
- Check with your local laws about short-term renting policies
- Open an Airbnb hosting account
18. Become An Online Tutor
Tutoring students online can be a very fulfilling and profitable side job if you enjoy helping people understand new things.
Tutoring is usually a one-on-one session. You can focus on your student’s learning style and adjust to help them understand better. This also means you need to be patient and communicate well.
Offer your services at:
Pros
- You can work in your free time.
- You can tutor at home.
- Tutoring can be a valuable work experience.
Cons
- You have a lot of competition if you specialise in common subjects.
- You might have to deal with difficult students.
Total Time: Medium
Startup: Medium
- For some platforms, you’ll need to submit a copy of your certifications to see if you’re qualified. This process could take a few days.
Payment: Fast
- It varies per platform. Some will let you receive payment after a session, or on a bi-monthly basis.
Difficulty: Medium
You have to adjust to your student’s level of understanding and stay updated on the latest information about your specialized subject.
Potential Earnings: Small
Private tutors can charge anywhere from $17 to $ 45 or higher, depending on their skills, experience, and location.
Requirements:
- Be aware of the important tips before becoming a tutor
- Good communication skills
- A stable internet connection
- Expertise in a certain area
Investing and Earning Money from Home
Investing isn’t reserved for millionaires. If you have some cash saved up, there are many ways you can begin investing with that!
Our top recommendation is to use an auto-trading tool such as ProfitFarmers. There’s no need to have any experience, the difficult trading bits are all automated, and no fees whatsoever – you keep all the profits.
Check out our review to see how it works!
Below, we cover some other options for growing your investment portfolio online.
19. Invest in Crowdlending
With a larger amount of money and an interest for startups, crowdlending could be for you.
Invest in startup projects without having to go through a bank, and if the startup goes successfully, you’ll earn an interest.
Some of the most popular crowdlending websites are:
Pros
- Initial investment costs are very low compared to traditional investment options.
- You can easily diversify your investment portfolio.
Cons
- If you’re not careful, you could end up investing in failing projects with no way to get your money back.
- It takes a lot of research to invest wisely.
Total Time: Medium
Startup: Fast
- For most crowdlending platforms, you can sign up and invest in a project within a day.
Payment: Slow
- Typically, crowdlending investors get money through dividends, monthly, quarterly, or yearly depending on the platform.
Difficulty: Medium
Finding a project takes time if you want to have a chance at making a profit.
Potential Earnings: Medium
Very successful projects can give a payout of $10,000+ a year.
Requirements:
- An investment account
- A sizable sum of cash
20. Invest in Stocks
Investing in stocks has proven to be one of the best ways to invest your money over a long period of time. You can invest in many big companies with high potential for growth.
But, it’s better to focus your money on companies that deal with proven assets. Some of these include:
- Energy (Fossil Fuel, Geothermal energy, etc.)
- Healthcare (Pharmaceuticals, Healthcare Products, etc.)
- Materials (Iron, Steel, or Copper Products)
- Information Technology (Tech Startups, AI development, and Tech Solutions)
Pros
- The stock market offers a lot of options for financial growth.
- Depending on your investment strategy, you can expect to make a decent return on investment with a minimal amount of risk.
Cons
- You’re going to lose money if you don’t frequently take time to learn and understand the market.
Total Time: Medium
Startup: Fast
- In most cases, you’ll need to open an investment account with an accredited bank.
Payment: Slow
- Many banks take the time to verify your identity before letting you withdraw your cash. The entire process could take days or even weeks to complete.
Difficulty: Low
You can still invest in the stock market even if you’re a beginner. All you have to do is find a trusted investment specialist and follow their advice.
Potential Earnings: Medium
Investment specialist fees, bank transaction fees, and government tax can take up a big part of your overall profits.
Requirements:
- A clean credit history
- Investment account with an accredited bank
- Money to invest
21. Invest in Real Estate
Real estate is a complicated yet profitable market to invest in. In popular areas, investment returns can be huge.
Properties in less popular locations, on the other hand, offer lower returns but have the biggest potential for growth.
These are the two main property investment methods:
- Hold it until you can sell it for its maximum value and price
- Have it rented out (as a vacation home, long-term rental, etc.
Pros
- Real estate almost always has value. Over time, properties tend to appreciate in value.
- Owning real estate is a safety net. Whatever else happens, you know you atleast have a roof over your head.
Cons
- Some renters are difficult to deal with.
- You won’t be able to turn your real estate into cash very quickly, it could take months before you find an interested buyer.
Total Time: Medium
Startup: Slow
- Finding the right property to buy can take months, not including the purchasing process.
Payment: Medium
- If you’re renting out the property, you could ask for payments immediately. But if you’re selling it, you might wait months before you see any money.
Difficulty: Medium
If you’re thinking of selling your real estate investment, you’ll have to wait for a buyer with a good offer. If you’re thinking of renting it out, you have to know your responsibilities as a landlord.
Potential Earnings: Big
Your primary sources of revenue are your renters and the land’s selling value. However, your potential returns are affected by the property’s location so in popular areas, you can charge more.
Requirements:
- Property to rent out or sell
- Documents proving your ownership
- Knowledge of current real estate prices
22. The Obvious Choice – Become Self-employed
If you want to take full control of your earnings and work schedule, then being self-employed is the perfect career choice for you.
Some of the most common businesses you can do at home are:
- Virtual assistant services
- Online consulting services
- Ecommerce
Pros
- You’re the boss of your business. You have complete control over your schedule.
- There is technically no limit to your personal income.
Cons
- It could be difficult to stand out as a self-managed business. You run the risk of being overtaken by competitors who have more resources or connections than you.
- The first few years of being self-employed will probably be rough.
Total Time: High
Startup: Slow
- It could take a few days, months, or even a year before your business can fully launch.
Payment: Medium
- Finding your first-paying client might take awhile. Generally, clients would pay upfront, but this depends on what kind of business you have.
Difficulty: High
Most self-employed business owners face tight competition. That means if you want to succeed, then you should find a way to stand out and make your services or products the preferred choice.
Potential Earnings: Big
If your business is successful, it’s possible for you to make $5,000+ a week.
Requirements:
- A product or service
- An internet connection
- A payment system
How to Avoid Scams on the Internet
Thanks to the internet, there are plenty of online-based options available that you can do.
But people take advantage of this, and run scams that could leave you hopeless penniless….
Here are 5 tips to help defend yourself against scams:
- Ask every possible question before taking a job request
- Clearly define the job description
- Never give out your personal information (credit card, passwords, address, etc)
- Do your research about the client or company
- If in doubt, ask help from a professional
Reasons Why You Should Get Started Earning Money from Home
A great many people have realized that having just a 9-5 job is frequently financially insufficient for realizing their dreams and desires. To earn extra money, they could find a new job, increase their hours or ask for a raise, but looking at it realistically, these three solutions are probably not particularly great.
Wouldn’t it be great to have just $300 extra per month? Or maybe get rid of your 9-5 job completely?
If you answered yes to any of these questions, then we hope you’ve chosen something to do from this article! By doing this, you can create an additional income stream, thus getting closer to your dreams and desires.
Just in case you need more reasons to get started, know these:
You Can Create Extra Income
Instead of relying solely on your office job, you can build another source of revenue by doing remote tasks!
You Can Make Money From Anywhere in the World!
Despite this article’s title, your ability to make money isn’t restricted to your house. Some methods can be easily done while you’re travelling, sitting on the train, or relaxing at the beach.
You Can Make a Living Just from Home
We are not recommending that you quit your job right now. But if you work on some of the methods here, it’s quite possible to make enough money from home and be able to quit your job eventually!
You Will Find that it’s Fun, Exciting, and Rewarding
With this work setup, you are the sole determinant of how much money you make. This challenge of working for yourself develops your independence and growth in the direction you want.
There is No Limit to How Much Money You Can Make!
When working at a ‘normal’ job, there is, to some extent, a limit to how much money you can earn. But, you avoid this when you’re a freelancer or a self-employed worker. By continually improving your skills and seeking remote work opportunities, there are no limits to your potential income!
Now All You Have to do is Get Started!
We hope you’ve been able to choose something to do from this guide. Remember that you’re not limited to just one method, as some can complement each other well. Example: Blogging about your cryptocurrency trading experience!
Even if you’re still working, getting another income stream that you can easily do anywhere might eventually become your main source of living…all on your own terms.
If you’re still unsure with which method is right for you, you can take our short MoolahNinjas quiz and find out within minutes!
