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| Rate of Return | Rule of 72 | Actual no. of Years | Difference (no.) of Years |
| 2% | 36.0 | 35.0 | 1.0 |
| 3% | 24.0 | 23.5 | 0.5 |
| 5% | 14.0 | 14.2 | 0.2 |
| 7% | 10.3 | 10.2 | 0.1 |
| 9% | 8.0 | 8.04 | 0.0 |
| 12% | 6.0 | 6.1 | 0.1 |
| 25% | 2.9 | 3.1 | 0.2 |
| 50% | 1.4 | 1.7 | 0.3 |
| 72% | 1.0 | 1.3 | 0.3 |
| 100% | 0.7 | 1.0 | 0.3 |
Learn more:
Note: Bankrate’s Brian Baker also contributed to this story.
21. Money-making strategy: Give blood
You can \make around $20 to $50 per donation of blood, depending if your blood type is rare or common. You can also donate plasma. Different states have different minimum requirements that must be paid when people donate plasma.
Plasma donations help people who are fighting Leukemia and other immune disorders. This is a bit more complicated and involved than donating blood but you won't get much more than donating blood.
4. Money-making strategy: Sell, or resell, used tech on Craigslist
The market for used electronics is vast. You can use Craigslist to part ways with your old iPhone or your MacBook. You can grab a premium for these types of electronics. Some people even flip items by buying them and reselling them.
You could also use a website like Gazelle to sell your used phones, no matter what kind you have. Companies like that have made an entire business model out of buying used phones and refurbishing them. Either way, you can expect to get a fair bit of money relatively quickly if you have these items laying around your house.
Related: 4 Things I Wish I Knew Before Starting a Small Business
3. Rental income
Investing in rental properties is an effective way to earn passive income. But it often requires more work than people expect.
If you don’t take the time to learn how to make it a profitable venture, you could lose your investment and then some, says John H. Graves, an Accredited Investment Fiduciary (AIF) in the Los Angeles area and author of “The 7% Solution: You Can Afford a Comfortable Retirement.”
Opportunity: To earn passive income from rental properties, Graves says you must determine three things:
- How much return you want on the investment
- The property’s total costs and expenses
- The financial risks of owning the property
For example, if your goal is to earn $10,000 a year in rental cash flow and the property has a monthly mortgage of $2,000 and costs another $300 a month for taxes and other expenses, you’d have to charge $3,133 in monthly rent to reach your goal.
Risk: There are a few questions to consider: Is there a market for your property? What if you get a tenant who pays late or damages the property? What if you’re unable to rent out your property? Any of these factors could put a big dent in your passive income.
And economic downturns can pose challenges, too. You may suddenly have tenants who can no longer pay their rent, while you may still have a mortgage of your own to pay. Or you may not be able to rent the home out for as much as you could before, as incomes decline. And home prices have been rising quickly due in part to relatively low mortgage rates, so your rents may not be able to cover your expenses. You’ll want to weigh these risks and have contingency plans in place to protect yourself.
2. Write an e-book
Writing an e-book can be a good opportunity to take advantage of the low cost of publishing and even leverage the worldwide distribution of Amazon to get your book seen by potentially millions of would-be buyers. E-books can be relatively short, perhaps 30-50 pages, and can be relatively cheap to create, since they rely on your own expertise.
You’ll need to be an expert on a specific topic, but the topic could be niche and use some special skills or abilities that very few offer but that many readers need. You can quickly design the book on an online platform and then even test-market different titles and price points.
But just like with designing a course, a lot of the value comes when you add more e-books to the mix, drawing in more customers to your content.
Opportunity: An e-book can function not only to deliver good information and value to readers, but also as a way to drive traffic to your other offerings, including audio or video courses, other e-books, a website or potentially higher-value seminars.
Risk: Your e-book has to be very strong to build up a following and then it helps if you have some way to market it, too, such as an existing website, a promotion on other relevant websites, appearances in the media or podcasts or something else. So you could put in a lot of work upfront and get very little back for your efforts, especially at first.
And while an e-book is nice, it will help if you write more and then even build a business around the book or make the book just one part of your business that strengthens the other parts. So your biggest risk is probably that you waste your time with little reward.
Passive income ideas:
Photography
Visuals have become equally important in the advertising industry and are considered to have as much influence as the written word. If you’re a photographer, you don’t have to limit yourself to covering weddings and events. It’s possible to earn money in food design and product photography disciplines, for example. You could also post your work on stock websites or sell editing presets.
Level of expertise: Beginner, intermediate, expert
Requirements: Knowledge or skill that people are willing to pay for
Time: Instant
Tools: Your website or an account with a freelancing site
Income Potential: up to $80,000/month
14. Money-making strategy: Become a personal training
If you understand fitness, you could be a personal trainer. People pay good money for personal trainers, if only to have someone keep them on track towards their goals. You can add value while also helping yourself financially.
This could also break off into nutrition and assisting people with meal plans, and so on. You could solicit clients in your local gym, but depending on where you live, you might need some certification to do this (not to mention the gym's approval). You could also use a site like FitnessTrainer to advertise your services.
Related: This Entrepreneur Lives in the Back Room at a Gym While Building His Business
Passive income is not…
- Your job. Generally, passive income is not income that comes from something you’ve been materially involved in such as the wages you earn from a job.
- A second job. Getting a second job isn’t going to qualify as a passive income stream because you’ll still need to show up and do the work to get paid. Passive income is about creating a consistent stream of income without you having to do a lot of work to get it.
- Non-income producing assets. Investing can be a great way to generate passive income, but only if the assets you own pay dividends or interest. Non-dividend paying stocks or assets like cryptocurrencies may be exciting, but they won’t earn you passive income.
2. Money-making strategy: Become a market research participant
In college I participated in loads of market research. It's fairly quick money for not a lot of work. Companies looking for consumers' opinions on a variety of products and services put you in a room to garner your opinion. That's it.
This often involves writing or stating your opinion, answering polls or surveys, or breaking off in a discussion group. The mechanics don't matter much. The point is that you can rely on it from time to time. Focusgroup.com is just one company that is looking for participants.
Related: 6 Things You Must Quit Doing Now If You Want to Be More Successful
31. Money-making strategy: Lead walking tours on Viator
If you live in a tourist locale, consider doing walking tours on Viator, which is one of the largest platforms for tour operators in the world. You'll really need to work hard to get a good reputation. To find clients quickly offer free tours and ask for tips at the end.
This is leveraging the principle of reciprocity with the power of free. People love to get things for free, but they feel obligated at the end to give something in return. That's why supermarkets are always giving away food. They know if you like it, you'll buy it.
5. Money-making strategy: Do tasks with TaskRabbit
TaskRabbit lets you tap into an existing marketplace of people looking for help locally with chores. The tasks aren't always small. This platform (along with others) offers bigger tasks, such as home renovations, as well.
Amazon is getting into the task business with Amazon Home Services. The services listed range from very small repairs to larger and more involved tasks that would take considerably more effort.
4. Affiliate marketing
With affiliate marketing, website owners, social media “influencers” or bloggers promote a third party’s product by including a link to the product on their site or social media account. Amazon might be the best-known affiliate partner, but eBay, Awin and ShareASale are among the larger names, too. And Instagram and TikTok have become huge platforms for those looking to grow a following and promote products.
You could also consider growing an email list to draw attention to your blog or otherwise direct people to products and services that they might want.
Opportunity: When a visitor clicks on the link and makes a purchase from the third-party affiliate, the site owner earns a commission. The commission might range from 3 to 7 percent, so it will likely take significant traffic to your site to generate serious income. But if you can grow your following or have a more lucrative niche (such as software, financial services or fitness), you may be able to make some serious coin.
Affiliate marketing is considered passive because, in theory, you can earn money just by adding a link to your site or social media account. In reality, you won’t earn anything if you can’t attract readers to your site to click on the link and buy something.
Risk: If you’re just starting out, you’ll have to take time to create content and build traffic. It can take significant time to build a following, and you’ll have to find the right formula for attracting that audience, a process that itself might take a while. Worse, once you’ve spent all that energy, your audience may be apt to flee to the next popular influencer, trend or social media platform.
Web Development
Increasing demand for websites means jobs that revolve around this need are also on the rise. It’s a job that lends itself well to working from home because all you need is knowledge, a computer, and a reliable internet connection. The most popular jobs include front-end developing, back-end developing, and full-stack development.
Make Money Writing on Sites
Do you like the sound of getting paid to write from home? You don’t need a vast amount of experience, but you do need to be able to string words together if you want to get paid for your efforts. There’s an abundance of websites and blogs that will pay you to follow guidelines and deliver good quality content.
There are many benefits to writing online. No upfront investment is required, and there are no start-up fees. You can expect to be paid relatively quickly, and there’s no shortage of writing gigs.
You might find yourself writing reviews, tutorials, how-to articles, or lists, and the subject matter could be anything, from travel and web design to parenting, health, and wellness.
Some blogs and websites pay writers on a revenue-share model, but that’s not the case in the following list. You can expect to receive an agreed-upon fee in exchange for every article you write that is accepted. This is a small selection of the sites that pay you to write.
- Textbroker
- iWriter
- Writer Access
- Upwork
- Problogger
- Freelancer.com
- Fiverr
- WordAgents
- Verblio
- Writers Domain
- People per Hour
Level of expertise: Beginner, intermediate, expert
Requirements: Good English language skills, knowledge of grammar and punctuation
Time: Instant
Tools: Writing software such as Google Docs or Microsoft Office, grammar checking tool
Income Potential: $10 – $500/article
A priority this year, for many people, will be figuring out how to make money online. It might be a side gig to supplement your job or a completely new venture. Whatever the reason, there are a wealth of available opportunities.
For quite a few of them, all you’re going to need is access to a reliable internet connection and a smartphone.
In a bind? Need some fast cash? We're talking here about small bursts of capital, not millions of dollars -- enough to satisfy your monthly obligations or get that nagging creditor to stop calling you.
Shutterstock None of the 32 strategies listed here to get some money quickly will break the proverbial bank. Some are easier than others, but nearly all require very little to no capital. They are meant to get you through the difficult times.
Related: 2 Ways to Make Money Online This Month
Some of these strategies to make extra money will require you to be in certain locales, while others are location-independent, but it all boils down to being resourceful. We've all found ourselves in a tight spot at one point in our lives or another, but to the person who's committed, anything is possible.
Much of this has to do with mindset. When you lack money, scarcity thinking sets in. The scarcity mindset is negative and thinks that there's never enough of whatever it is to go around. When you find yourself thinking like that, do everything in your power to move into an abundant mindset.
Our thoughts are incredibly powerful. We have upwards of 60,000 thoughts per day, many deep within our subconscious mind, much of which are repeated. We have to be stewards of our thoughts. Once you find yourself thinking negatively, you need to jar yourself out of that.
When you're looking to make money fast, you're often in a tough spot financially, even desperate to make ends meet, but everything that we have and everything that we become is partly born from our thoughts. Think and you shall become. Curate and cultivate the right thoughts if you want to live an abundant life.
Step 3: Start Creating Income!

There are unlimited ways to make money from home – from consumer surveys and other side-hustles that generate some grocery money to potentially lucrative projects and jobs that may take a little time to get off the ground.
Here are some of our favorites:
Do Micro-Jobs on Amazon Mechanical Turk
You may not have heard of micro-jobs, but it’s a term used for straightforward jobs that generally require no technical skill. Amazon Mechanical Turk is an online platform where requesters (as they are known) post boring jobs that you can complete for minute sums of money.
The jobs are called HITs or Human Intelligence Tasks. These tasks tend to be things that algorithms or computers aren’t quite capable of doing or that humans do far more effectively.
You get to pick and choose which jobs you want to do and how much you do. The pay is anything from $0.01 to $1 per HIT. HITs include:
- Transcription of audio recordings
- Researching data details
- Identification of objects in videos or photos
- Data deduplication
Unfortunately, there is a considerable amount of competition, and if you want to get your fair share of the work, you’ll need to use browser extensions and a suite of tools to lap up the best-paying jobs quickly.
Level of expertise: Beginner, intermediate, expert
Requirements: No experience or knowledge is required
Time: Instant, although it can take a couple of weeks to build up a decent amount of cash
Tools: Software that alerts you of the high-earning HITS
Income Potential: $100 – $1,000/month
Make Money Playing Games
Would you believe me if I told you that making money playing games is possible? It might sound like a sketchy idea, but it is possible. It’s not something that’s going to make you rich, but you could easily earn an extra 4.3k if you’ve got the time and inclination.
Make Money on Your Phone
You don’t need a fancy computer to make money. You can make upward of 3k just by using your smartphone. What’s even better is that you won’t need to leave home to do it. The internet has made it super easy, and with smartphones having enough computer power to run a small country, there are numerous ways you can make money from home.
Lots of the options will bring in small amounts of cash, which we’ve already looked at. In this short section, you’ll find out about the more lucrative ways.
- Make a profit from flipping stuff: If you’re the kind of person who has an eye for hidden treasures and deals at garage sales or thrift stores, this could be the option for you. When you flip things, you’re selling items you got free or discounted for profit.
- Make smart investments with Acorns: If you’re interested in making money by investing, Acorns is a fantastic option, especially for beginners. When you buy something with your credit or debit card, Acorn rounds it up and invests the difference. It’s just a small change, but you’ll be surprised at how quickly it adds up.
- Sell books online: There’s a massive market for used books and textbooks. Sites such as Bookscouter help you sell any books you’ve got or books you buy cheaply, for real cash.
- Play games and get paid: If you enjoy passing the time playing games, check out Dabbl. Play fun and simple interactive games and earn money. We’ll look at some other ways to make money playing games in the next section.
- Rover: Get paid to play with dogs, pet-sit, walk dogs, and more. Use your phone to set your rates and plan your schedule.
Level of expertise: Beginner
Requirements: Smartphone
Time: Instant
Tools: Sign up with the app
Income Potential: Up to $3,000 annually
10. Money-making strategy: Grab gigs on Fivver
No matter what type of service you offer, you can likely offer it Fivver. This is terrific for digital services such as graphic design, web design, short audio or video clip creation, editing services, writing and so on.
Fivver has expanded beyond just the $5-per-gig model. Fiverr Pro pools the best talent on its platform. Depending on your skills, you could do considerably well on here.
Related: 5 Ways Fiverr Jump-Started My Life as an Entrepreneur
18. Sell designs online
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.
Opportunity: You can start with your own designs and see what the market is interested in, and expand from there. You may be able to capitalize on surging interest in a current event and design a shirt that captures the spirit of the times or at least a snarky take on it. And you can also set up your own web storefront through a site such as Shopify to market your goodies.
Risk: Printing partners allow you to ship items without directly investing in the merchandise yourself, avoiding one of the biggest risks of tying up your capital. But you may be able to get better pricing if you invest in some of the inventory yourself. Another big risk here is that you could invest a lot of time with little payoff, but this avenue might be interesting if you’re already doing the design work for another purpose, such as personal interest.
Become a TikTok Consultant
TikTok has gained a lot of interest recently, with some people going viral overnight. With a concept that’s still in the early days of its success, there are many opportunities for monetizing. Become a pro on TikTok, and you could turn your hand to consulting. By leveraging your expertise, you’ll be able to help people who are looking for TikTok fame.
Can You Really Make Money Playing Games on Your Phone?
Yes, you can, and there are dozens of apps that reward you when you play games. There are a few games-for-cash sites that are sketchy, so you have to be careful. However, some are totally worth it.
Here is a list of the top games apps that hand out real money.
- Coin Pop: Collect points when you try out and play different games. The longer you play, the more points you earn. Redeem your points for Amazon vouchers or cash.
- MistPlay: Earn credits for playing selected games. You earn more the longer you play and bonus units when you reach higher levels or play at specific times. You cash out for a Mastercard or Visa payment, Amazon payments, or some other gift card.
- Fit Play: Once you’ve downloaded the app, you’ll get a list of games you can play for points. Build up your points and then redeem them for gift cards or cash into PayPal.
- Qmee: Primarily, Qmee is a survey app, but there is a section where you can earn money by playing games.
- Make Money – iOS: Lots of tasks available, some of which include playing a game you’ve downloaded to a certain level.
- Ysense: Earn cash rewards for trying different games. You need to meet certain conditions to receive your rewards, such as collecting a specified number of points or reaching a certain level.
- InstaGC: The payment threshold is really low, so you could cash out earnings as small as $1.
- Earnably: Play games for free and get paid to do it. Cashout is speedy via gift card or PayPal.
Level of expertise: Beginners
Requirements: Smartphone
Time: Instant
Tools: Sign up with the app
Income Potential: Up to $4.3k annually
Hobbies That Make Money Online
If you’ve got a hobby or two, did you realize you could be making money doing something you love? You may not have got into your hobby with the intention of making money, but some have the potential to become money streams if you’re serious enough.
Want to know what the most lucrative hobbies are? Keep reading for the ultimate list.
- Writing: Besides earning you money, publishing and writing online is also a great way to further your career or become an established expert. Freelance on sites like Fiverr or Upwork or write your blog.
- Design and illustration: this creative hobby can also make you money on a freelance basis. There are always potential clients on Fiverr, for example. Another option is to put your illustrations or designs on items like posts, canvases, or t-shirts. Choose a print-on-demand service, and you don’t need money upfront for an inventory.
- Cooking: Start a foodie blog to showcase your creations. Create a YouTube channel and teach people how to cook. Dive headfirst into your food hobby by creating cooking products or food.
- Music: Record and sell your albums or songs. Platforms like SoundCloud are good places to sell what you record. Creating beats or samples is another money-making musical hobby.
- DIY crafts: Crafting can be a very profitable hobby. There is an endless number of things you could make and sell. For example, jewelry, bath bombs, soap, wooden puzzles, candles, and many more.
- Gardening: With more people spending time at home, gardening has seen a significant increase in popularity. As well as making you healthier and happier, this hobby could also make you richer.
- Photography: You could become a freelance photographer, but for a side hustle that’s more scalable, why not sell your photos as prints or stock images?.
- Comedy: If you’ve got a good sense of humor and enjoy making people laugh, have you thought about using this talent to make money? It’s possible to amass large audiences by curating viral videos, memes, or tapping into a humorous niche.
Level of expertise: Beginner, intermediate, expert
Requirements: an interest or hobby with the potential to monetize
Time: Once you’ve made the items, you could be selling for a profit within a few weeks
Tools: These will depend on the hobby
Income Potential: $10,000 – $100,000/annum
Become a ‘Clickworker’
There are many ways you can become a clickworker. The company is always looking for people who can correct or create texts, search or categorize data, or take part in surveys.
Writing
Professional writers are highly sought after. This role involves writing content for clients’ websites that promotes their business and helps them stay relevant. How much money you make depends on the niche you choose and your skillset.
Passive income can be a great way to help you generate extra cash flow, whether you’re running a side hustle or just trying to get a little extra dough each month. Passive income can help you earn more during the good times and tide you over if you suddenly become unemployed or even if you voluntarily take time away from work.
With passive income you can have money coming in even as you pursue your primary job, or if you’re able to build up a solid stream of passive income, you might want to kick back a little. Either way, a passive income gives you extra security.
And if you’re worried about being able to save enough of your earnings to meet your retirement goals, building wealth through passive income is a strategy that might appeal to you, too.
Build a Website and Earn an Affiliate Commission
One of the most popular ways to make real money online is through affiliate marketing. 81% of brands and 84% of publishers use the power of affiliate marketing and this statistic is likely to continue as affiliate marketing spending in the US increases every year.
Don’t know what affiliate marketing is? It’s a way of earning money by promoting various brands. You’re promoting products, services, apps, software, and more. In return, companies pay you a commission when a customer buys a product using your link.
You probably think the commission will be small, but that’s not strictly true. It can be but what makes a big difference is that you can be an affiliate for one, two, three, or considerably more different brands, and there’s no limit to the number of links you can include in each of your posts.
There’s also the potential for the commission to be 50% of a $1,000 product and for it to be a recurring commission every month.
How does it work? You advertise the brands via your website by writing blogs, creating infomercials, and other types of content. You include links for your affiliate brands and push traffic to their website.
To achieve any level of success, you have to learn to be persistent. The key to your success will be finding a niche that suits you and having the right strategy. Some of the niches you might want to consider include:
- Software
- Travel
- E-commerce
- Dating
- Loans
- Fitness
Once you’ve decided on a niche, you’ll need to work on designing a website and starting a blog. Starting a YouTube channel that runs alongside your blog is another option.
Level of expertise: Intermediate
Requirements: Content marketing expertise, know how to build a website
Time: From six months to several years before you start making any real profit
Tools: Domain, hosting
Income Potential: $300 to $10,000/day
Can an Investor Use All Five Ways in the Quest to Double One's Money?
Yes, of course. If your employer matches contributions to your retirement plan, take advantage of that perk. Invest in a diversified portfolio of stocks and bonds and consider being a contrarian when the market plunges or rockets higher. If you have the risk appetite and want some sizzle on your steak, allocate a small portion of your portfolio to more aggressive strategies and investments (after doing your research and due diligence, of course). Save on a regular basis to buy a house and keep the down payment in a savings account or other relatively risk-free investment.
Teach English as a Virtual Tutor
It’s possible to teach English as a virtual tutor with no experience. However, you do have to be a fluent English speaker. Teaching English online has enjoyed rapid growth in demand and popularity. There are currently over a billion people currently learning English globally.
New online platforms and schools pop up regularly. Some require a bachelor’s degree, but others don’t. TEFL or ESL certification, however, is essential.
Level of expertise: Beginner, intermediate, expert
Requirements: No teaching experience is required, but you can earn more with a degree or teaching certification
Time: Instant
Tools: Account with an online teaching platform
Income Potential: From $10/hour – $40/hour
18. Money-making strategy: Take on housecleaning jobs
There's a variety of platforms online that you could tap into for doing this, or you could simply scour your neighborhood or post on social media. You could use Amazon's Home Services for this as well, or you could create your own simple, one-page website to advertise.
Either way, this is a terrific way to make upwards of $20 per hour or more doing a job that's often in high demand. You could easily make this a long-term gig if you perform well and don't cut corners.
Related: From $100 Million to Broke to Betting It All on Cryptocurrencies
Which passive income source is best?
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.
So you’ll need to weigh the opportunity against these factors and see which passive income strategy works best for you. But it can be helpful to have natural ability and an interest in your target area, because these can help motivate you in the early days when things are likely to be tougher.
There are passive income opportunities for people who are starting out with some money and even those who have no money to start.
5. Flip retail products
Take advantage of online sales platforms such as eBay or Amazon, and sell products that you find at cut-rate prices elsewhere. You’ll arbitrage the difference in your purchase and sale prices, and may be able build a following of individuals who track your deals.
Opportunity: You’ll be able to take advantage of price differences between what you can find and what the average consumer may be able to find. This could work especially well if you have a contact who can help you access discounted merchandise that few other people can find. Or you may be able to find valuable merchandise that others have simply overlooked.
Risk: While sales can happen at any time online, helping make this strategy passive, you’ll definitely have to hustle to find a reliable source of products. Plus, you’ll have to invest money in all of your products until they do sell, so you need a robust source of cash. You’ll have to really know the market so that you’re not buying at a price that’s too high. Otherwise you may end up with products that no one wants or whose price you have to drastically cut in order to sell.
Start a blog
If you like to write, a blog is a wonderful platform for creating a following and selling an online course. Pick a topic you enjoy writing about. Learn how affiliate marketing might create extra cash for you. Write a book to launch on Amazon Kindle—and your blog! (See Problogger for solid information and training.)
Blogs and YouTube channels can be quite profitable, yet they are not “quick cash” strategies! It usually takes months once you earn your first dollar. These strategies work especially well when you have a product or service to sell.
24. Money-making strategy: Rent a spare room on AirBnB
AirBnB can be a terrific platform for renting out a spare room. You can make some good money, especially if you live in a tourist destination. If you don't mind the neighbors, then this is definitely an option. You can crash with friends and family and rent out your entire house if you're really desperate.
Related: What You'll Really Earn on Uber, Airbnb and TaskRabbit Every Month
Become an Extreme Couponer
When you use one or two coupons every week, it helps you save a small amount of money. Become an extreme couponer, on the other hand, and you could save a whole lot more. To become an extreme couponer, you’ll need to diligently scour magazines, newspapers, and online sites for as many coupons as you can find.
Match these coupons up with promotions and sales to maximize the amount you save. If you get good at it, you could even get some products for free.
How can I make 1 dollar a day?
$1 a day might not sound like much, but add that up over one year and that’s an extra $365 in your pocket. Luckily, there are heaps of legitimate ways to earn that one dollar, and they should take a tremendous amount of time. Survey sites, such as SwagBucks, Zap Surveys, and Branded Surveys, are just a few examples.
Look After Other People’s Pets
Believe it or not, there is a massive demand for responsible and reliable pet sitters. One essential thing is that you have to love pets. Typically, it would be cats and dogs you’d be caring for, but potentially, it could be anything from a parrot to tropical fish.
Pet sitting is very similar to babysitting, but you’ll be looking after a beloved pet rather than a child in this case. It depends on the job, but you could look after the pet in your own home or the home of the owner.
If you don’t think you’ll be able to commit to caring for a pet over several days or longer, other options are possible. Perhaps you could be a dog walker or keep a pet company while their owner works.
There are several pet sitting websites where you can look for work, for example:
- Care.com
- Tailster
- Cat in a Flat
- Rover
- Pawshake
- Trusted Housesitters
Level of expertise: Beginner, intermediate, expert
Requirements: You have to be an animal lover, be patient, and be empathic for animals
Time: Work on getting a good reputation, and you could turn a profit in a couple of months
Tools: Certification will help you get better-paid jobs, insurance should anything go wrong
Income Potential: $10 – $25/hour
FAQs
17. Rent out useful household items
Here’s a variation on renting out an idle car: Start even smaller with other household items that people may need but that may be collecting dust in your garage. Lawnmowers? Power tools? Mechanics tools and tool box? Tents or large coolers? Look for high-value items that people need for a short period of time and where it might not make sense for someone to own the item. Then put together a way for clients to discover your inventory and a way for them to pay for it.
Opportunity: You can start small here, and then scale up if there’s interest in a particular area. Do people suddenly want a tent for weekend camping when the weather gets warmer or cooler? Figure out where the demand is, and then you could even go buy the item, rather than having it right on hand. In some cases you might be able to recoup the value of the item after a few uses.
Risk: There’s always the possibility that your property is damaged or stolen, but you can mitigate this risk with contracts that allow you to replace the item at the client’s expense. If you start small here, you’re not exposed to much risk, especially if you already have the item and you’re not likely to need it in the near future. Pay particular attention to liability issues, especially if you’re renting out equipment that has the potential to be dangerous (e.g., power tools.)
22. Money-making strategy: Decorate homes for the holidays
Whether it's New Year's, Christmas lighting, Easter, Fourth of July or any other holiday, you can get paid to help decorate homes. This might involve putting up lights inside or outside, decorating trees, setting up games and decor.
Use the internet and social media to find clients, or simply advertise to your local network. There are loads of options when it comes to doing specialty jobs like this.
Related: 50 Ideas for a Lucrative Side Hustle
Become a freelance copywriter
Ten years ago in the middle of the Great Recession, a mutual friend introduced me to Kate Phillips, who was co-writing this blog with me for almost as long! Kate tells other writers that the key to being a successful writer is to make it profitable for someone else.
If you can help businesses attract new prospects, stay in touch with existing customers and clients, and sell more products or services, you will always be in demand! To get started, there are many copywriting training sessions that can help you, such as Drop Dead Copy.
Buy and Sell Domain Names
In the modern tech-centric world, domain names are big business. In some cases, they can change hands for millions of dollars. At the very least, you can expect a few hundred dollars if you find a solid domain name that’s up for sale.
Don’t expect to turn a profit for several months, as it can take a considerable amount of time to build a top-quality portfolio of domains. How much profit you make depends on how much work you’re prepared to put in. Buying and selling domain names involves trying to predict what’s going to be popular a few months or years down the line.
Another option is to purchase some domains that are already high profile and hang on to them for a while, hoping that their value will increase. There are lots of different tools you can use, such as Just Dropped, Namecheap, Flippa, GoDaddy. Once you’ve purchased the domain, you simply relist it and wait for someone to be interested so you can sell it to them for a profit.
Level of expertise: Beginner, intermediate, expert
Requirements: Knowledge of domain names and what makes them attractive
Time: Anything from one month onwards
Tools: Account with a site that buys and sells domain names
Income Potential: $10-$1,000/month
Start a YouTube channel
Start a YouTube channel and monetize it. For instance, you can gain followers and eventually earn ad revenue, affiliate income or Patreon supporters. YouTube is also an excellent platform for creating a fanbase who will enjoy future offers. Many YouTubers such as Sunny Lenarduzzi have videos for helpful tips for building a profitable following on YouTube.
28. Money-making strategy: Get a small microloan
You can get a small business loan (very small) on Fundera, or Prosper if you're looking for a very small personal loan. Depending on your credit and your financial and employment situations, you can secure up to a few thousand dollars like this.
There are loads of platforms that offer these small microloans. You have to pay them back but it can help if you're in a bind.
Become an Influencer on Instagram
Instagram has been around for more than a decade. From very humble beginnings, it has grown into being one of the biggest social media platforms. In the third quarter of 2020, it was estimated that there were 1.16 billion Instagram users. One of the main reasons it’s become so popular is that it’s completely free.
It’s possible to make money from Instagram quite easily, but you will need a large enough following. There are companies out there that are willing to pay Instagrammers money. It might be for showcasing a product or making a post.
How much you’ll get paid for a post kind of depends on how engaged your followers are and how many of them there are. Remuneration ranges from a couple of hundred dollars to several thousand, just for one post.
To be able to charge a few thousand for a post will take a certain amount of time, patience, and dedication. First, you’ve got to build up a sizable audience. It shouldn’t be a problem if you enjoy taking photographs, however. You’ll also need to spend lots of time using your phone and be a dedicated Instagrammer. If you can tick all these boxes, it’s got to be worth trying.
Level of expertise: Beginner, intermediate, expert
Requirements: Understanding of posting on Instagram
Time: 12 months or more to gain a good following, longer to make a profit
Tools: Smartphone with a good camera
Income Potential: $50 – $5,000/post
Profit through savvy social media strategies
There are similar ways to make money with Instagram and other social media platforms. Connect and stay top-of-mind with potential clients and customers on LinkedIn, Instagram and Facebook. Livestream on Facebook or start a Facebook group to share your expertise, promote what you do and expand your network.
25. Money-making strategy: Do micro gigs on Mechanical Turk
Mechanical Turk is a platform by Amazon that allows you to do small jobs and get paid for it. But don't expect too much money out of this. These gigs truly are "micro" and range from a few cents to a few dollars at the most. But if you string several of these together, it might be in your benefit.
You don't need any serious qualification to do this. Usually, this involves clicking on links, taking surveys, giving an opinion, doing some light categorizing or other human-intelligence tasks (HITs as they like to call it).
Become a virtual assistant or online business manager
Many people normally work in an office on tasks such as
- data entry
- email marketing
- social media management
- customer service
- updating websites and
- managing calendars and schedules.
A Virtual Assistant or VA does the same thing—from their home! According to PayScale, the average VA earns just over $20/hour, which varies according to skills and experience. VAs can be self-employed or they may work as employees and/or as part of a team. This article explains how to get started as a VA.
AnOnline Business Manager or OBM is often a virtual assistant who has “graduated” to a higher level of skill and expertise. They can be proficient in project management, marketing, directing larger teams, and documenting processes. An OBM takes initiative to manage certain aspects of the business while a VA is more “task-oriented.” An OBM earns more than a VA and is typically certified.
While VA projects can be short one-time assignments, both VAs and especially OBMs can become valued long-term team members. (We have used both on our virtual team for years!)
9. Money-making strategy: Answer questions on JustAnswer
People looking for expertise online. JustAnswer (and several sites like it) allow doctors, lawyers, engineers and others with enhanced knowledge to earn a small income merely answering questions from people who would otherwise have to pay a hefty sum for those answers.
This platform is a great resource for people. It's also lucrative (for the time spent) if you're looking to earn a bit of cash in a hurry. Don't expect to get rich answering questions, but you can generate a few bucks here or there if you're in a bind.
Conclusion
Whether you want to make a few extra bucks as a sideline, discover a way to escape your 9 to 5, or start your own business, there are endless opportunities when it comes to making money online.
You can start with little or no investment or use your savings to get things off the ground. In the list, there are possibilities for the complete beginner right through to expert.
There really is something for everyone.
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