Tired of your commute? Looking for flexible hours so that you can pursue other life goals? Hoping to make a little extra money?
There are many reasons why you might want to work from home, and nowadays there are numerous options for using the Internet to launch a home business, or to simply supplement your income.
In this article we look at five popular options for making money online.
1. Freelancing Websites
If you have a knack for writing, graphic design, bookkeeping, research, or a number of other services, you can make money freelancing online. Popular services like UpWork, Toptal, and Freelancer help connect independent contractors with employers to find both short-term and long-term gigs.
These services ensure that payment transactions are secure, and that contracts between vendors and clients are protected. However, in exchange for these services, note that you will likely be required to pay a fee, or a percentage of your income, to the company that is overseeing these transactions. While this might not seem ideal, it is well-worth the fee to ensure your banking information is being kept safe, and to avoid issues of non-payment.
2. Online Investing
You don’t need to work on Wall Street to invest your money in the stocks of your choosing. Thanks to online investing, you can buy and sell stocks right from your phone. Most online investing services require a transaction fee, but some allow you to buy and sell free of charge. When selecting an online investing app, make sure to first look at user reviews and investigate any hidden charges.
Additionally, keep in mind that making money by investing is not easy! If you invest your money in low-risk stocks, it may be a long time before you see any return. However, if you invest in high-risk stocks, be prepared to monitor these stocks daily so you can choose the right time to sell. Be aware that certain stocks are called “high-risk” for a reason, and you may end up losing money in the end.
There are dozens of reputable websites, magazines, and news sources that provide research on stock trends to help you make good investment choices, but be ready to put in the time. Despite what you might see in the movies, stock investments are not the solution if you are looking to get rich overnight. As with all things financial; do your research on the stocks you purchase, and stay active in monitoring their trends.
3. Grow Interest on Your Savings
Money saved is money gained. Consider starting a savings account, or opening a high-yield bank account online. Certificates of Deposit, or CDs, offer higher interest rates than most savings accounts, but keep in mind that you can’t remove any of the money from a CD until a set period of time has passed, or you will be penalized. Thanks to online banking you have numerous options on where to save and secure your money; so do your research to find the option that is right for you, and that will gain decent return on interest over time.
What’s most important is that you protect your money and avoid reckless spending such as online pyramid schemes, or other suspicious activities like the Martingale roulette strategy. By saving your money you can make the interest work for you over time; so avoid reckless spending and secure your savings in a high-interest account.
4. Online Sales
Thanks to the Internet, you don’t need to own a brick-and-mortar business to make money by selling products. If you have a knack for crafting, or are good at salvaging items at great prices, there are dozens of websites that allow you to post and sell your wares to a massive audience of potential online buyers.
If you create handcrafted jewelry, home decor, or many other homemade items, Etsy is a popular site where you can sell your wares without having to worry about building a website or dealing with credit card processing. If you love hunting for antiques and collectibles that have resale value, Ebay has been a popular online auctioning site since the 90s. Depending on what you are looking to sell, some quick research will allow you to find the online sales site that is right for you.
5. Market Research
Businesses need to conduct market research continuously, which is good news if you’re looking to make a little extra cash quick. Corporations are always looking to conduct surveys or case studies on new products or business ideas, and so, from the comfort of your home you can take short online surveys and get paid in gift cards (or actual cash) for your minimal efforts.
Survey Junkie is one of the most well-known and reputable sites for taking online surveys in exchange for money, however, there are at least another dozen options out there. With that being said, always be wary of anything that sounds too good to be true!
If a website is promising to pay you big dividends for minimal work, there’s a good chance it’s a scam. Make sure you research the validity of any sites that involve financial transactions before providing your personal information online.
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