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Are you cash-strapped? Would you like to make some extra money online? We have good news. There are hundreds of ways to earn passive income online. Some of these strategies can make you enough money to buy a new car.
But don’t get excited just yet. The majority of online money-making opportunities won’t make you rich. They can help you cover your monthly bills, though. If that’s something you would want, read this article to the end.
Install Passive Income Apps
Passive income apps pay you to complete simple tasks like watching videos, and playing mobile games. Each task you complete earns you points you can later redeem for cash.
Some apps don’t ask you to complete tasks. They operate using different models. For example, Honeygain pays you to give up your unused Internet bandwidth to members of its network. By comparison, Nielsen pays you to observe your online shopping behavior.
Because passive income apps don’t payout a lot of money, consider installing several of them. Also, install each device across multiple devices—smartphone, laptop and iPad:
- Survey Monkey
- Survey Junkie
- Inbox Dollars
Invest your Money in Financial Markets
Financial investments cover a wide range of assets, from stocks and bonds to crypto and fixed deposit accounts. You’ll require a little bit of cash to get started. But if you invest in the right asset, you don’t need to do anything to make money.
Become an Insider
Let’s say you invest $1000 at a fixed deposit account with an annual interest rate of 7%. At the end of the year, you will have $1,070 in your account. It’s not a lot of money. But you can compound your investments to maximize your returns.
Stocks and crypto offer potentially higher profits than a fixed deposit account. However, good research is required. If you invest in a single stock, it could grow or lose money.
This is why seasoned investors recommend beginners to invest in an Exchange Traded Fund (ETF). Think of the S&P500. ETFs track a large number of stocks and average out their returns. This way, you don’t lose a lot of money if one stock underperforms.
Become a Content Creator
Nowadays, almost everyone with a small social media following claims to be a content creator. Some of them do little more than dance in front of the camera. Others chat with people in the comment section.
All the same, content creation is a good way to make extra money online. The best content creators grow their accounts incredibly fast. Let’s say you’re a comedian. This is an invaluable skill few people have. As such, your channel will attract a larger audience than someone who reviews stuff no one wants to buy.
How do content creators make money? It depends on the platform. On YouTube, content creators can make money through adverts, affiliate marketing or by selling merchandise.
On Instagram and Facebook, the majority of influencers make their money through brand endorsements. On the other hand, TikTok offers content creators the chance to earn money through gifts sent by their fans—roses, hats, cute pets and ice cream tokens that can be converted to cash.
Start a Blog
If you like to read blogs regularly, you probably know there’s a lot of money in blogging. The beauty of it is that starting a blog is cheap. You don’t need to be a coder or web designer to create a website.
With $100 to $500, you can start a blog and pay for web hosting. Then you can customize it with a few plugins and start to publish content. There are lots of things you could post on your blog.
But if you want your blog to succeed, choose a unique niche. Focus on a topic people want to learn about but there are not enough people talking about it. Then create lots of content surrounding this topic and market your blog.
Blogs only generate money if there are people who come to read your content. If you have an audience, then you can monetize your blog through adverts and affiliate links.
Sell your Skills
If your work involves spending a lot of time in front of a computer, there’s a chance you can sell your skills online. Maybe you’re an account. You could create a course centered on accountancy.
Perhaps you’re a program. You could sign up at a gig site to write codes for others. Better yet, you could build an app or create a course to teach others how to code.
The amount of money you can make by selling your skills vary a lot. As a beginner, you might not make a lot of money, especially on gig sites. That’s because it takes time build your reputation as an expert when there is so much competition on these platforms.
Sell Stuff Online
There has never been a better time to become an entrepreneur. There are far too many ways to sell stuff online. And almost everything you can think of has a market.
Think of old clothes and shoes. You can sell them on Craigslist or eBay. Let’s say you’re a photographer. You can sell your photos on sites like Shutterstock. Basically, you can make a lot of money buying and selling products.
In the usual spirit, you need to specialize. Choose a niche. Let’s say you decide to flip old cars online. Focus on this niche so that you can build an audience that will buy from you repeatedly.
Become an Affiliate Marketer
We’ve already mentioned affiliate marketing. What we didn’t mention, though, is that anyone can become a marketer. You don’t need to be Twitch famous to et into affiliate marketing.
Companies with affiliate marketing programs only care about one thing: you can help them find customers. That means your success in this business depends on your marketing prowess.
With that in mind, you can’t make a lot of money marketing products by word of mouth. You need a platform where you can attract a large audience. This is why most marketers have a blog and a presence on all major social media networks.
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