As inflation increases, so is the need to make more money. Finding a better-paying job is a nice idea. But it’s not realistic for everyone. The more doable thing is to look for a side hustle.
The Internet provides countless chances to make money online. All you need is to leverage your current skills or learn new skills online. Some of the ideas we’ve mentioned below pay well enough to live a decent life without relying on any other source of income.
Before you quit your day job, however, discover what you must do to earn money passively from the ideas in this article.
#1: Affiliate Marketing
Affiliate marketing is an excellent side hustle because you don’t need a lot of capital to start. Affiliate marketing involves recommending products that already exist to people who would love to buy them.
Amazon offers one of the most affiliate marketing products in the world. The giant e-commerce site pays you to market electronics, clothes, gardening tools, books, and even furniture.
Amazon pays you commissions worth 3% to 10% of the items you sell. However, some affiliate programs pay you up to 50% in commission fees. You can run this side hustle through a website or social media.
Either way, you must work hard at the beginning to make your affiliate marketing platform popular. You need the traffic to your site to make money. Also, you need quality content that will convince people to buy the products you’re marketing.
You could make anywhere from $200 to $5000 per month through affiliate marketing. But as mentioned, you need to dedicate the first few months to content creation and marketing your website and socials.
#2: Money-making apps
Affiliate marketing is great. But it takes a lot of time and patience to build a website capable of making you money. If you’re short on free time, the best way to earn money passively is through a money-making app.
Money-making apps pay you to do small tasks like watching ads, reviewing products, and completing surveys. Some apps pay you for your data. Or they pay you to share your extra Internet bandwidth.
Below are our favorite money-making apps:
Honeygain pays you to share your Internet traffic. The app uses your web traffic to help businesses access the Internet globally without worrying about location-based censorship.
Honeygain is a configure it and forget it type of app. You can connect up to three IP addresses to your app. Once everything is up and running, all you need is to wait for your earnings to accumulate.
The app operates globally. It welcomes all users with a $5 reward. However, you need a minimum of $20 to withdraw your earnings.
Tech experts say data is the new oil. It is worth a lot of money. Savvy Connect gives you a chance to make money by sharing your data. You allow the app to monitor your Internet traffic—social sites, favorite blogs, and shopping habits.
Similar to Honeygain, Savvy Connect allows you to link up three devices. The app will pay you $5 for each device every month. However, you’re paid only if you remain active on your devices every month.
Swagbucks has been around for ages. Similar to Savvy Connect, Swagbucks targets US customers primarily. But it also works in the UK, Canada, India, Australia, New Zealand and Spain.
Swagbucks pays you to complete simple activities. For example, you can earn 10SB if you make Swagbucks your default search engine. You make more money through surveys, online shopping, and playing online games.
The app pays you through SB coins you can later convert into cash. To provide some context, one SB is worth one cent. You need 100 SB coins to make $1. That said, the app features so many tasks that you can easily earn an extra $100 per month through the app.
#3: Start an Online Business
Starting an online business isn’t just potentially profitable. It’s also a fulfilling adventure. In the past, creating an online business required a ton of capital and full-time dedication to make it work.
These days, you can run an online business as your side hustle. And you could still make it work. Think of an online store. Thanks to drop shipping, you don’t need to buy products before you can sell them.
Drop shipping allows you to sell products currently stocked by a wholesaler or manufacturer. You authorize the manufacturer to ship products to your sellers directly. All you need is to brand and market your store.
Now, you don’t have to start a store. You could sell digital products. Or you could create an online-based service like video editing. Then you could hire people to manage your platform when you’re busy.
#4: Create a YouTube Channel
Most YouTubers create their channels to make money on the side. Some of them succeed at YouTube so much that they make it their primary job. If you’re not camera-shy, you could build a big brand on YouTube during your free time.
For clarity, you don’t need to show your face to run a successful YouTube channel. You could run a channel that provides tips and hacks without using your real face or voice. Or you could hire someone on Fiverr to lend his or her voice to your channel.
Nowadays, most content creators publish their content across different social sites to maximize their incomes. Look at Podcasters. They podcast on Spotify, Apple, YouTube, TikTok, and Meta platforms.
#5: Invest Your Money
Perhaps the easiest way to make money online is by investing. Let’s say you buy company shares. You don’t need to do anything else besides waiting for the shares to gain value.
Now, there’s no guarantee your stocks will lead to profits. However, historical data shows you can make a lot of money through the stock market and cryptocurrencies like Bitcoin.
Take time before you invest your hard-earned money. Learn more about exchange-traded funds, indices, and bonds. If you decide to invest in crypto, learn why it is so volatile. More importantly, discover the best coins for short and long-term investment.