MAKING MONEY ONLINE
Before you begin your passive income journey, it's important to understand what it means. Essentially, passive income is money you're making from a source or business other than your direct employer. It typically is a task or action performed on the side that doesn't require a lot of effort (hence why a lot of the suggestions below exist online).
MAKING MONEY ONLINE
Giving your opinion and taking part in market research can be an easy way to make money online. Some of the more popular survey sites include Survey Junkie, Swagbucks, OneOpinion, Opinion Outpost and Ipsos iSay.
Keep in mind: These won't bring in huge earnings. Swagbucks says its members earn about $1 to $5 per day. Just make sure you do some research before you get started or commit to participating in any online surveys.
Blogs aren't just for fun these days. They can be quite the moneymaker when done right. The key is to pick your niche, build your audience and then monetize the blog. Just remember: Building a following can take some time, so be patient.
There are several platforms designed for online gig work. For example, Amazon Mechanical Turk is a place you can take on small tasks for businesses across the globe. They might include moderating content, taking a survey or transcribing audio.
YouTube creators can make a lot of money, and it doesn't necessarily require much expertise. You can create how-to or explainer videos on virtually any subject or go more personal and put yourself in the videos. You can interview subject matter experts, provide tips and tricks, or even just show yourself playing various video, mobile or board games.
If you're a fast typer, you might consider doing some online transcription for cash. You'll simply need to listen to audio files and then type out what you hear. You get paid per piece, so the faster you can type, the better - at least, financially speaking. Rev.com, GoTranscript and TranscribeMe are just a few of the sites where you can find online transcription work.
If you're known as the photographer in the family you can make some extra money by selling your photos online. There are websites like Fine Art America in which you can upload your images and have them featured on merchandise that's then sold on the site.
More work than ever is being done online following the shift to working from home. It makes sense, then, that remote help will be needed. By becoming a virtual assistant via websites like Indeed (just search for "Remote Virtual Assistant") you can work for a business in need from the comfort of your home office. The work needed varies - from writing to social media management to traditional bookkeeping - so look around for something that fits your skills and background.
If you're web savvy then consider purchasing and then selling domain names. Sites like GoDaddy.com can even help complete the sale via an online auction. Or just simply buy names you think may be interesting in the future (think entertainment, sports and political events). You can then put your contact information on those URLs and offer to sell them to anyone looking to buy.
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UserTesting is really interesting and enjoyable when I have spare time and helps pay some bills too! It feels good being a part of making a site or app better and more user friendly. It's great that people like to hear my opinion.
As a Master's student...UserTesting provides me with so many great opportunities to earn some extra money! The team at UserTesting is phenomenal and has been there for me whenever I've needed them. I love UserTesting!
Affiliate marketing is the easiest way to make money because you can promote a wide variety of products. Just about every popular store like Walmart, BestBuy, Amazon, and others have an affiliate program.
One downside of dropshipping is that you have to find a good supplier, which can be a challenge, and sometimes you have to place a large order up front. This can make it difficult to get started without investing a lot of money.
At WPBeginner, we have helped thousands of beginners start their blogging journey. We have heard almost every question you can think of. Here are the top questions beginners ask us about making money online by blogging.
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Selling photography online might not be the most obvious place to set up a passive business, but it could allow you to scale your efforts, especially if you can sell the same photos over and over again. To do that, you might work with an organization such as Getty Images, Shutterstock or Alamy.
Opportunity: In particularly high-demand areas or during high-demand times (for example, during a concert or sporting event), your parking spot could be worth real money. For example, if you live near a place that has frequent commuters but that is strapped for parking spots, you might have a money-maker on your hands. You might have the best chance of turning a profit by renting to someone who needs the spot on a daily basis, rather than for one-off events.
A bond ladder is a series of bonds that mature at different times over a period of years. The staggered maturities allow you to decrease reinvestment risk, which is the risk of reinvesting your money when bonds offer too-low interest payments.
If you have design skills, you may be able to turn them into a money maker by selling items with your printed designs on them. Businesses such as CafePress and Zazzle allow you to sell items such as T-shirts, hats, mugs and more with your own designs.
An annuity can be a good place to set up reliable income. With a typical annuity, you give money to a financial company, usually an insurance company, that will provide you with a stream of income in the future. Annuities pay out monthly, and they can be set up in a variety of ways, for example to start paying immediately or much later.
A local business offers you the potential to generate a cash flow stream through an existing and established company. If the business is profitable enough, you may even be able to hire a manager to run it for you while you make only the biggest decisions or none at all. You may be able to get an attractive loan to buy it, so that you put less of your own money at risk early on.
The question of which passive income source is best depends on several factors, but some of the most important include the amount of money you have to invest, the total opportunity size, your interest and ability in the area, the amount of time you need to invest and the potential to succeed. Typically, the lower the barriers to entry, the more crowded the field of competitors and the lower likelihood of success.
Money can provide you with more passive investment opportunities. If you have money to invest in a passive opportunity, you have not only the opportunity set above but a new range, too. Money is a prerequisite for taking advantage of the following passive income areas:
Picking a course topic is less about what skills you have and what you can offer and more on what you should teach first. You are likely planning to start an online course because you have something to offer. The challenge is to know where you can provide the most value to your buyers.
One of the most direct ways to sell art online and make money is with print versions of your drawings or illustrations. This can be in the form of posters, mounted canvas, or photos. In general prints can go anywhere from $40 USD to around $300.
Shopify: The platform is known for its ease in online store and payment setup. This platform serves creatives who want the most control over their store, who also have a solid understanding of marketing.
Saatchi Art: This more exclusive online gallery platform focuses on paintings, drawings, sculptures, and photography. This platform is highly competitive, but buyers are willing to pay more for art.
You can sell the finished product on your own website, through a self-publishing platform, or advertise them on your YouTube channel or online course. Many self-publishing websites have their own promotional departments as well.
Ingram Spark: One of the oldest and largest print on demand book publishers in the United States, Ingram Spark lists ebooks and print books on many online stores, such as Barnes and Noble, Apple, Google Play, and Walmart.
Some 16% of U.S. adults have ever earned money by doing jobs via these platforms, and this group has some notable demographic characteristics: Adults under age 30, Hispanic adults and those with lower household incomes are particularly likely to have earned money in this way.
In all, 16% of Americans have ever earned money doing gig platform work in at least one of these ways. About one-in-ten adults (9%) have earned money doing gig platform work in the past 12 months, including 4% who were doing so currently when the survey was conducted. On the other hand, 7% report that it has been more than a year since they have done this work.
When it comes to specific types of jobs, about one-in-ten or fewer adults have ever earned money in each category. Some 7% say they have made deliveries from a restaurant or store for a delivery app, 6% have performed household tasks or ran errands via a gig platform and 5% have driven for a ride-hailing app. Small shares also report ever shopping for or delivering groceries or household items (4%) or using a personal vehicle to deliver packages to others via an app or website (3%). And among the 4% who indicate they have done something else to earn money from these types of mobile sites or apps, the most common type of work mentioned is completing surveys, online tasks or other research activities. 041b061a72