Top 7 Ways To Earn Money From Home In 2020

Earning money is usually considered one of the most difficult tasks in the world. However, if you break it down, even earn money from home is very simple. All it needs is a little time, some effort and if you work smart, making a little extra from a side hustle on top of your day job can be very easy.

In these trying times, having a side hustle is very important. It not only provides you with that extra cash every month that you can use to improve your financial position but also provides security against the loss of a job. While some of the side hustles also have a huge potential of developing into full-blown businesses, you can also use the extra cash it provides as seed money to start a different business of your own.

With the advancement of technology, apart from all the other benefits we reap, one of the greatest opportunities that we are provided is the ability to work from home. This has been observed all over the world during the lockdown due to the pandemic. Even people who had never imagined working from home have been required to do so. With the time saved in travel to and from work, and with little extra effort, you can make this change one step further into developing a side hustle all from the comfort of your home.

In this article, I have compiled a detailed list of ways you can start earning from home on the side no matter what your aims are. Some of the methods I mention can also be used for making a quick buck on the side, while all of them have the potential to develop into full-time businesses. For even more ways of earning money from home, stay tuned for my upcoming article on fun ways to make a little extra on the side.

Writing for money

earn money from home by writing

If you have a passion for the written word, or simply want to put your linguistic abilities to work, you should consider writing as at least a part-time gig. Writing is usually very glamorized in our society to the extent where our perception of the nature of work is very distorted. It actually is not much different than writing those essays in school. You are given topics that you have to research and write something on that topic. The only big difference is that this time around you will get paid for it.

When taking on writing as a career, or even a part-time job, you should not head straight into writing a novel. It is easier and safer to start slow. There are many writing jobs available for numerous magazines and newspapers. As the internet took over the world, there have been even more avenues for writers to find jobs.

An easy place to start is content writing. Due to the ever-increasing use of the internet, the content writing industry is bigger and more versatile than ever. You can find content writing as well as other writing jobs online through freelancing platforms such as Upwork and Freelancer.com. These jobs can range from one-off written pieces to part-time as well as full-time permanent jobs. You can easily find work relevant to your field of interest or your area of expertise and can earn money from home. An average freelance writer can expect an hourly wage of $25 and above. However, at the very start, you may have to lowball the bids in order to get your first clients.

Proofreading

start a blog

Sticking to the theme of writing, if you are not confident in writing but have those perfect grammatical skills, you may consider proofreading as a side hustle, or even as a full-time career. Whether you want to use it as a gateway to your writing career, want to develop it as a career in itself, becoming a proofreader is a very lucrative option.

Just like the writing jobs, the easiest way to search for a proofreading job is through online freelancing platforms. All you have to do is sign up for a free account, complete your profile, and start bidding for work. However, you may also find other online websites especially dedicated to proofreading and copy editing. You can also sign up on these websites such as Scribbr, Edit911, BubbleType, and American Journal Experts in order to increase your exposure. These sites usually require you to take a short language test before you can join but they also tend to pay better rates.

Contrary to popular belief, becoming a proofreader does not require a fancy degree or a major in languages. However, some of your clients may require proof of competence so it may be beneficial to get some sort of certification to gain their confidence. Nonetheless, the most important skills you will need are attention to detail and the ability to go through long hours of reading without losing focus. You can find online courses on Udemy specifically designed for training as a proofreader. You can also find a free workshop to familiarize yourself with the ins and outs of the business on Caitlyn Pyle’s website. These courses and workshops are a great way to refresh your skills and at the same time, you can earn money from home.

Being a proofreader, you can expect to read anything from user manuals to restaurant menus, college assignments as well as novels, and other books. The most common and easily found work is related to websites where bloggers just want to hire people to edit and proofread their work before uploading it. An average proofreader can expect hourly earnings of $20 and above. This is not as much as what writers make, but you can improve your rates once you start getting more work.

Start a blog

start a blog

Once you are confident with your linguistic skills and your writing ability, the best way that I have found to make use of it is to start your own blog. Instead of writing for others, if you start your own blog, you can make several times the money with potentially less time and effort.

Let me first make it very clear that it is neither easy nor quick to make money from your blog. It can take months and even years of consistent effort to start earning from your own blog. It also takes a lot more skill than just being a good writer to be able to properly monetize your blog. But once the money starts coming in, you will realize that it is totally and absolutely worth the effort.

The first thing to do when starting a blog is to find your niche. If you write about stuff that everyone else is writing about, without providing any fresh information or insight, it is likely that you will not be able to capture a lot of readers. Instead, you need to find something that you have a keen interest in and sufficient knowledge about so that you can write something that your readers will not find anywhere else.

Once you decide on your niche, it is time to build your blog. With hosting providers such as Bluehost and Wix, it has become very easy to set up your website even if you have no programming skills. However, the real work starts after that. You will have to start learning about SEO and social media marketing to get more traffic, as well as a lot about monetizing your website to generate money from that traffic. It can usually take you up to 2 years to get enough traffic to generate meaningful income, but once you achieve that, there is no limit to how much you can expand on that. For an average blogger, you can expect somewhere between $2,500 to $10,000 a month after your first two years, depending on your niche, your content and how well you monetize your blog.

Become a virtual assistant

virtual assistant

If you have some spare time at hand and are good at organizing things, becoming a virtual assistant may be the thing for you. Becoming a virtual assistant is very easy. Once again, you can go to any freelancing platform, sign up for a free account, build your profile, and start bidding for work.

A virtual assistant can mean a lot of different things to a lot of people, and that is the beauty of it. Some may need assistance in organizing their paperwork, others need help with replying to the emails while some people need help with designing stuff. In short, if you have any useful skills, you can find someone to pay for it. Most of the work you will get as a virtual assistant will be similar to an office secretary. However, listing all your skills on your online profile will allow you to grab extra work.

There is usually no qualification or training requirements for getting work as a virtual assistant but still, you can earn money from home. However, having good organizational skills is very helpful. You can also find numerous online courses on becoming a virtual assistant. It may be worthwhile checking them out in order to get a better understanding of the nature of work and how to acquire more work with less effort. While some people can make more than $50 an hour, workings as a virtual assistant, you can reasonably expect an hourly income of over $15. However, it can vary depending on the quality of your service, and your ability to negotiate as well as your experience.

Manage online ads

make money by managing online ads

Tai Lopez gained his fame and money by two things: his ads on YouTube, and his ability to manage ads. If you are even a little tech-savvy, learning about SEO and social media marketing can be very beneficial. It can benefit you if you are running your own business, and you can even start a business managing other people’s marketing campaigns and social media presence, and make a lot of money doing so.

The demand for social media managers and ad campaign managers has risen since the lockdown as more and more people are shopping from home. As the demand for online shopping grows stronger, even the small shops and corner stores are forced to deliver goods to people’s homes. For businesses that have just now adopted to the online mode of purchasing, this has increased the need to educate people about their new services.

Most of these smaller business owners cannot afford a full-time online marketing manager as the work is just not enough to justify a full-time employee. This leads to a higher demand for freelancers who will do it for a fraction of the cost. However, managing businesses’ social media presence and their online ad campaigns is neither a very difficult job nor does it require a lot of time and effort, making it an ideal side hustle. Nonetheless, you will require some research and training which you can get from numerous great online sources, both paid and free. Once you have enough customers, you may even decide to hire more people and develop it into a full-blown business.

Game streaming

earn money from home just by gaming

All the different ways to earn money from home that we have discussed so far in this article require at least some level of education, formal or informal, and are usually considered relatively boring by most people. However, this one is more exciting and a fun way to earn money.

If you like playing games of any sort, you can start streaming your playtime to get paid for it. Just like people pay to watch professionals play sports like football, cricket and tennis, they also pay to watch others play e-sports and other games on a gaming console. If you are like me, and bought a gaming PC or a gaming console to avoid going outside for entertainment during the lockdown, you can easily put that PC or console to use.

Streaming games online is very easy. All you need to do is make a Twitch account, or use your Google account to stream on YouTube. If you already do not own one, you may have to invest in a decent microphone for commentating during the streaming sessions, as well as a reasonable camera for streaming yourself, and that’s all the investment needed. These streaming sessions are free to watch but people donate money to watch you play as much as they like. Some of the top streamers can even make millions every month, but the income for an average streamer is much, much less. It also takes some time to build followers so that you earn a decent amount of money. However, the best part is that you make money doing what you love and enjoy, which you would have been doing anyway.

Retail arbitrage

Retail arbitrage

If you are good at marketing, and selling is one of your strong points, you should explore the realms of retail arbitrage. Arbitrage is simply buying low and selling high by finding a difference between the buying and selling prices of an item between two markets. By identifying this difference, you can make use of it to your advantage and make money out of it.

Arbitrage is a fairly mature idea. In older times traders would buy goods from one place at lower prices and sell it to buyers in different geographical places and make money out of it. However, what I want to talk about is a modern version of the technique where you would not need investment, or even the need to travel from place to place in order to make money out of it. In fact, you will be able to make money from the comfort of your home with almost zero investment.

The method of retail arbitrage that I am talking about here is called dropshipping. This concept is fairly new where you find online vendors in countries like China who sell products at a cheaper price and list those products to sell on Amazon or even your own online store. The key here is that you make an arrangement with your supplier such that you do not have to buy and hold the inventory. This saves you most of the investment required to start the business and you can go straight to the selling part. Once you receive an order from your customers, you transfer the money to the supplier, keeping your part of the profit, and the supplier can ship the product directly to your customer just like you would have if you owned the inventory.

A good place to start finding products for dropshipping is Alibaba or AliExpress. You will find that there are a lot of products that are selling much cheaper on these websites than what is available on Amazon. From these products, you need to choose those products that you can sell easily in your target market. It may seem counterintuitive to sell a product at a higher rate to people when the same product is already available to everyone. However, you will see that most people are willing to pay a higher price for the products if they come from a local supplier (you).

The main benefit of this method is that you can add many products to your catalog without needing a huge investment to back it up. Moreover, if you have not bought the product that you are selling, you will still be making not be making a loss on products that you are not able to sell. These two benefits make the technique ideal for starting up a business with low investment, high yields, and minimal risk.

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