“How do I make money at home?” is a question that has been searched a lot in the last few months. The global pandemic has led to many people wondering how they can make money while businesses worldwide lay off employees.
But never fear! Even if you’re (hopefully temporarily) out of a job, there are several options to get some money rolling in while you wait for the next best thing. Or who knows, this could be the next best thing!
There are a few main categories to get started with, such as:
- Selling stuff online
- Web-based services
- Writing and publishing
- and Consulting services
Before we continue, Financial Professional wants to remind you that all materials in this article are educational in nature. This article is not investment advice. Always consider your personal situation – and the help of a licensed financial professional – when making any investment decisions.
Selling Stuff Online
Selling and/or flipping your stuff, such as your clothes, is one of the oldest ways to make money at home. In today’s world, this is still true and it has been made easier with the Internet. Websites like Amazon, eBay, and Craigslist automate a lot of the process for you.
As I’ve mentioned in an earlier article, Amazon is a great way to make money at home and earn a passive income. However, Amazon also has ways to sell your stuff online as well. The site is a haven for online third-party sellers looking to clear or flip items that didn’t work for them.
To be a third-party or individual seller, you will need about $40 per month for the subscription fee, a referral fee that’s anywhere between 6-20%, and a per-item closing cost for media items. If you are looking to sell more than 40 items per month, you may want to try to become a professional seller. As a professional seller, you won’t have to pay the referral fee, and there are other bonuses as well.
eBay and Craigslist
eBay and Craigslist are two of the most popular websites globally since the dawn of the digital age. Both sites make it very easy to get a lot of eyes on your unwanted items. As such, they also provide great ways for people to make money at home quickly.
eBay was originally an auction site for DIY sellers but has transformed into a fixed-price – and often heavily discounted – sales for professional merchants. Craigslist, on the other hand, is one of the scrappiest of the major online retail sites.
eBay has made people a lot of money over the years (including myself!). As long as you have high-quality pictures and thorough descriptions of your product, you should be good to go. eBay is more complex than Craigslist, but expect to lose about 10% of your final selling price to the site.
Craigslist has one major perk, which is its enticing profit potential. However, that does lead to more safety risks since the site has no listing and selling fees for most items. If you do choose Craigslist, just make sure you have your wits about you and can spot whether you’re being scammed or not.
Make Money at Home on the Stock Market
Investing can make you a pretty chunk of change, but it is one of the riskier ways to make money from home. While it can take minimal effort for the individuals with a professional advisor in the loop, those who prefer to research and invest their money themselves may find themselves glued to their computer most of the time.
If you’re looking to get started investing, there are some apps you may find beneficial, such as Robinhood, Acorns, or Stash. These apps allow you to learn about investing while they tuck your spare change away for you.
Through web-based services, there are many ways to make money from home. Web-based services include anything from having an online course to social media management. All of these options can help you earn a little extra cash while stuck at home during any kind of global crisis.
Online Courses: Money at Home Teaching Others
If you are really good at something you can teach to others, why not start an online course?
There are courses online for literally anything, from cooking to management and back again, and considering we have a lot of extra time on our hands, a lot of people are using these courses to learn new skills. However, if you plan to be on the teaching side of things, you’ll need a little more than just a computer.
If you’re truly looking to make money teaching from home, make sure you can provide:
- Credibility or credentials
- A proper teaching venue (no dogs or cars in the background, etc)
- A solid teaching structure for your topic
- Appropriate pricing
- Your own marketing
These five things will help you be able to make a successful teaching at-home career. The most difficult thing is pricing since there will always be competition. However, a way to counteract this is through special deals and promotions throughout the year.
Online classes aren’t the only way to make money at home through education. If you are extremely good at one subject, you can start virtual tutoring sessions. Unlike online courses, tutoring is more one-on-one time with the students. However, you can only have as many students as you can fit in your schedule.
The best places to tutor are sites that focus specifically on tutoring such as Education First, Chegg, and VIPKid. They usually pay per hour or per session based on the tutor’s chosen topic and credentials. Before you sign up, you need to make sure that your computer meets your chosen platform’s system requirements. Also, you may need a TEFL certification to start, which can be completed on Premier TEFL.
Social Media Management
Another great way to make money at home is through social media management. Considering how the growth of social media is going, businesses are trying to get into the space before it’s too late. However, most businesses have no clue what they are doing.
Building a management business may take some effort and time. But for many, it’s worth it because you will be able to charge a sizable fee to big corporations. This ends up allowing you to earn full-time income managing these company’s social media accounts.
Make Money at Home on Fiverr
Another great way to earn some extra money at home is by selling your services on Fiverr. It is a vast marketplace where you can sell just about any service. It’s a great way to make money as a digital nomad or as someone relaxing in bed on their laptop.
On Fiverr, you can literally sell anything from graphic design services to celebrity impersonations. These are great ways to earn some money at home as a passive income source. As I’ve mentioned in another earlier article, Fiverr is a great way for teens to make money at home during quarantine as well!
Writing and Publishing: Make Money at Home doing Your Passion
While being at home, it is a great time to write a book if that’s something you have dreamed about doing. Writing and/or publishing at home is something that is starting to pop up more and more. Both freelance writers and publishers are getting hired more with so many individuals working from the comfort of their homes, rather than the discomfort of a corporate office.
If you’re creative and enjoy writing, you can get paid to create content online. This is great for anyone at any age to make some money while at home. As a freelance writer, you can write anything from blog articles to web entries. Consider getting started on a site such as Upwork to build your portfolio – and your first client relationship.
Some prerequisites for a freelance writing job include:
- Have a home office space
- A portfolio
- An inquisitive nature
- Consistency and professionalism
- A sense of what you’re worth – and the lowest price at which you can start
- The ability to create enforceable contracts
Another way to earn money in the freelance writing industry is through freelance editing. Once you’ve worked with a few different editors, you’ll start to get the hang of things. Then, it’s just a matter of finding the right job for you.
When starting out, look for small part-time or project-based jobs. If possible, use previous freelance writing arrangements. Start growing your client base from people you know already. Once you outgrow your current client base, that’s when you can start using online platforms. Many of the prerequisites are similar to freelance writing.
Marketing is an excellent way to make money at home since there are so many different ways. (Especially since you don’t have to be out in the field a lot of it you can do from your house and online.)
In these digital times, the most common type of marketing is affiliate marketing. This is a cool way to make money from a YouTube channel or monetize a blog. Through affiliate marketing, you work directly with a brand to give you a product to sell through an affiliate link which you get a share of the profits from and it’s directly proportional with your follower
Different sites offer affiliate links such as the Amazon Affiliate Program, ClickBank, CJ.com, and Rakuten LinkShare. All these sites have their pros and cons so look into each of the sites very carefully to determine which site is right for you. These are probably some of the best ways to monetize your blogs.
To monetize your YouTube channel, you can use affiliate marketing through Google itself with its service, Google AdSense. This is fairly simple as it just requires you to sign up for a free AdSense account and then linking it to whatever type of account you want.
Making Money at Home through Consulting Services
If you are an expert in a field, you could potentially dive into the world of consulting. In a consulting service, you can find people who are willing to pay you to counsel them on their business or personal goals. Consulting services are great for those who are new parents or people who have set their careers on hold currently.
For certain people, consulting can start as a side hustle that turns into a full-time job because of the freedom it entails. This is an excellent way to make money at home while your job security is in question and is very easy to set up. If you don’t know the steps, you can start a free account on Clarity.fm to help you out.
A Final Word on How to Make Money at Home
The answer to the question, “How do I make money at home?” isn’t that simple. There are multiple options in this world right now, especially with everything becoming remote. You need to figure out what’s best for you and understand that at first, it may not bring immediate results.