Many people today are always looking for a solidified way to earn some extra money, whether it is to help pay bills, save for the future, or buy more luxuries. Either way, you are probably searching on how to make money, especially on how to make money from home. Well, lucky for you, there are plenty of ways to make money.
Several of the options down below are great ways to build up passive income. What is a definition for passive income? Keeping it simple, passive income is basically putting work into something once and receiving money for it over time. For example, this would apply to the world of YouTube. I will only spend a couple of hours of recording and editing the video. Then over time, we’ll say monthly in this case, I will earn money for the video. Thus, having only spent a short period to make money over a long time.
Understand this before you read further. Many of these methods are not going to make you rich and will not necessarily teach you how to make money fast. If we recall the example above the YouTube example, you will not likely earn $100 monthly right away. It will take time to build up some of these platforms to see significant cash flow within your pocket.
I guarantee that most everyone has heard of Uber sometime in their life; however, it is a great way to drive strangers around a city or town and earn cash while doing so. Of course, the most important requirement to be an Uber driver is to have a driver’s license, so if you don’t have one, don’t worry, there are other options below.
Signing up to become an Uber driver is not complicated. You will need to enter your information on their website, such as email and phone number, in addition to some payment information.
According to an interview conducted by CNBC, one man stated that for the 30 hours that he works, he makes $500. However, on Indeed’s website, they say that the average salary per hour of an Uber driver is $26.73. This shows a lot of volatility in terms of hourly pay, but you can ultimately earn a significant chunk of money by being a driver.
I would advise that this may particular be beneficial as more of a side job, as it allows you to set your schedules on when you would like to clock in as an Uber driver, but if you do end up doing this as your main job and earn more than $30/hour, then that is awesome.
Similar to Uber, many people are familiar with Airbnb or its concept. This method of making money is a great way to increase your passive income, as you can essentially rent out your house or your room to someone.
Airbnb is essentially becoming more popular within today’s society as anyone looking to vacation somewhere and doesn’t want to pay for a hotel, can pay to stay in someone’s home. This is a real way to make money from home, or should I say because of your home.
Now using this platform to rent out your extra room that is being unused can be beneficial, as you can charge a decent amount for rent to help cut down on your monthly rent or mortgage costs. When I was looking into how much one could potentially make renting out their room on this platform, but it depends on the area you live in and as well what exactly you would be renting to the public.
So I decided to base my calculation on a two-bedroom, one bathroom, property in Toronto that would hold two guests. Thanks to the AirDNA calculator, it’s estimated that the average daily rate would be roughly over $100. This is certainly a suitable amount of income you can earn daily that may not take long to set up and have guests arriving at your door.
The price may sound enticing, but it can also be a painful process since people you likely never met are staying in your home. Do your due diligence when considering Airbnb.
Delivery is now becoming more on-demand from household consumers today. An increase in its demand will increase the number of drivers that individual businesses are looking for, meaning this can be a perfect opportunity for you to earn some extra money fast today.
You can even become a driver for Uber Eats or SkipTheDishes to deliver people’s orders to their doors. However, don’t expect always to make a substantial amount of money when doing this type of job. The nicest thing about being a delivery driver is the potential to earn some great tips that may or may not happen, but all people should tip quite well. After all, you never know what a driver had to do to arrive at your door.
I decided to look at Workopolis’ job site to see what companies were willing to pay potential drivers. In this case, the area I searched for was Hamilton Ontario, as I figured I would base the prices within the same province as I did for Airbnb. In this case, some listings were offering as much as $28/hour, while other listings offered basic minimum wage in Ontario, which is $14/hour.
Regardless, you will need to have a driver’s license to be suited for the job and may need your own vehicle, although that requirement may vary depending on the company.
Overall, this is still a great way to put in a couple of hours in the evening to earn a little cash.
This next side-job comes with a requirement, mostly through having a license and other necessities to handle alcohol and being above the age of majority. However, if you enjoy being apart of the nightlife your city has to offer, well these jobs allow you to be there! Well, with a condition. In this case, you would either be serving drinks or ensuring people aren’t getting out of line.
However, according to Neuvoo.ca, hourly wages for bartenders are not very exciting necessarily. From their statistics based on 261 salaries of bartenders, the median pay is $14.23/hour. In some provinces, this would barely be above the minimum wage, but you can’t forget that bartenders can also receive tips, so there is always potential to earn a couple of extra dollars an hour to make it worthwhile.
Looking at a bouncer’s salary, Indeed.com states that the hourly wage for the position averages is $15.59. This comes more than a dollar more when compared to a bartender’s hourly wage, but in this case, bouncers typically won’t obtain any tips. Nonetheless, there usually wouldn’t be as many requirements to fill the position when compared to being a bartender.
We all know someone or, better yet, multiple people, that booked sessions with a tutor for different subjects within a high school. I had done so, and there is no shame in that. We all need to do what we can to learn the important subject at hand.
The best thing about being a tutor is the flexibility it provides. If you are specialized or understand a lot about a particular subject, people will look to you for help at your own time. You can schedule your hours and the number of days per week you want to host sessions.
In addition to flexibility, you can decide how much to charge people for your services. Whether it be hourly or by session, people will be willing to pay your price to help them learn. For example, you could always charge $20/hour or per session, again the choice is up to you.
You can also learn how to teach English, even if you don’t feel like teaching mathematics or chemistry. There is a website called VIPKid that will pay you money to teach the English language to children in China. They even schedule your sessions based on your needs/wants, all from the comfort of your own home. Check out the website if you are interested, but please note specific requirements that make you eligible to become a teacher through their site.
Babysitting is a very old-fashioned way of obtaining some extra cash flow, similar to house or dog sitting. However, these jobs may not require much work, well, depending on the job itself. Most often, people will pay you by the day or hour.
If you are interested in doing one of these three tasks, you can garner interest by talking to people in your local community that you are looking to babysit, look after a dog, or check on a house while someone is away. Of course, the faster method is to post on social media or use an app where people are actively looking for these services.
For those looking to babysit, there are a plethora of apps or websites to choose from. One of those websites is called Sittercity. On the app, you can sign up for a profile, and people can actively view your profile. Through your profile, you can describe yourself, your location, and experience with babysitting. You can even provide the hourly wage you want to receive for being a babysitter.
Rover, a website aimed at helping owners both reach a dog and house sitter, is a great way to set up a profile and have people contact you for your services. One of the cool features is that if you feel that your dog should be walked and are currently away at work, you can hire someone to walk the dog. Rover even promotes you can “Get paid to play with dogs,” which makes the job sound very enticing. Like the Sittercity app, you can charge your prices, and of course, you can have your own schedule.
These sorts of jobs may not require to vary many qualifications, meaning you can set up your profile and look for work immediately to help you make extra money on the side.
I feel as if lawn care does not need a description. People are always looking for those to mow their lawn or till their garden. This is where you can potentially earn some extra cash for only a couple hours of work. Of course, you will either need a mower of some sort or else the person you plan to provide this service to will need one.
In this case, the next question is, how much can you make doing this as a side hustle? In this case, you decide the pricing you want people to pay for your services, but you do not want to price it too outrageously. Several people do lawn care, especially professionals, in the summertime. So, a reasonable amount to charge maybe $15/hour. This will allow you to be a reasonably cheap option for those looking for lawn services, but you can always charge less expensive if you so choose.
This may be a viable option for those looking to spend a couple of hours of the week doing a small-side job that does not require much work for mowing grass.
Now we will look into options on how to make money online potentially for free.
The idea behind freelance work is choosing something you’re particularly good at or enjoy doing, at your own time. All you need to do is to find a company that is willing to give you a contract for a short time. A lot of freelance jobs may involve writing for individual companies, marketing for those companies, or even managing customer relationships. It mainly depends on what the company is traditionally looking for.
When researching for an average price one can make while doing freelance work, I stumbled upon the statistics from ZipRecruiter. In the United States, freelance workers could earn an average of $30/hour, which would be above the minimum wage significantly so. The average annual salary is $63,213, which blew my mind, meaning that freelance workers could make more than potential employees of the same company the freelance workers are employed.
If you are intrigued by this and want to start a full-time career as a freelance worker, go for it. There are several different tools to help you get started, and as well there are various websites that post advertisements of companies looking for freelance workers.
Either way, this method could potentially earn you a significant amount of cash to work from home, which can be a bonus.
Let’s be brutally honest with ourselves. We both can think of someone who does YouTube and earns more than both you and me combined, and probably our neighbours too. I was watching a YouTube video the other day, where someone claimed they earned roughly $800,000 yearly with the platform.
As described in the example at the beginning of the article, YouTube is a great way to earn passive income. It probably is one of the most creative ways to make money.
How long does that take? Let’s just say you won’t earn thousands of dollars overnight, but don’t let that stop you from trying. Instead of working for money, it’s better to have your money work for you (shoutout to Robert Kiyosaki).
It’s not even that hard to get started with uploading videos to your channel. You are able to follow guides online on how to build a successful channel and start earning money with your channel with platforms such as Google Adsense. These different platforms will bring in additional money for you while YouTube pays you and they primarily pay you based on the views your channel will earn. If that’s not motivation to increase your customer count to earn money, I do not know what is.
So, the question is, if you do want to create your own channel, what should you focus on?
I will try to keep this simple; stock trading is not always as simple as people think. Of course, I will highly advise that you develop your intelligence into stock trading by reading several books on the subject matter. A very popular book based on value investing and just investing, in general, is The Intelligent Investor by Benjamin Graham, but look at other books based on the subject as well.
If you are going to be a stock trader, you must realize that although you have the potential to earn more than what you put in potentially, you are also risking yourself to lose everything you put in. By any means of the imagination, please do not put your entire life savings into one particular stock. If a company goes completely bankrupt or their stocks tank, you could have no money left.
There are several different brokers you can choose to start your investing journey through. Three of the biggest brokers are Questrade, Wealthsimple, and TD Direct Investing, where you should review the fees associated with each broker. Some will tack fees on your transactions that could range from $4.95 to $9.95. Before opening an account, it is essential to review those fees, in which you can do so through each of their websites.
For our stock review articles, click here.
Start a Blog/Write Articles
There are many upsides to starting your blog rather than writing articles for certain publishers or companies. The biggest upside being writing whatever you want. However, there is a mass amount of potential that you will never earn as much as writing articles for publishers such as Medium.
Blogging is another excellent example of earning passive income, and you can primarily earn a lot of money through Google Adsense or affiliate marketing. It does take a while to get yourself reputable and build an established blog but is one of the legitimate ways to make money. Do not quit within the first month and let all of your hard work go to waste. Most of these methods are not “get rich quick” methods, but once you can build your blog up, you could see anywhere of $10,000+ every month. I know, it sounds exciting.
Whereas if you decide to publish articles on specific platforms, they may pay you by the hour, article, or based on the number of views that you earn. The popular platform Medium pays you by the number of claps you receive, which is equivalent to the number of likes or favourites you receive in the article. In which, the payments are variable based on this number; you could earn a lot for every piece or very little.
I would personally recommend doing a blog as you have more potential to expand it to be much more than a blog. For example, you could always sell digital products or provide services. However, maybe writing articles on Medium is more for you if you are more fascinated by earning commissions for your work.
Now I’ll be honest; whenever I was personally looking into completing surveys for cash, I figured I might be able to make a couple of dollars per survey. That wasn’t the case. Based on what I have seen, surveys may pay you as low as a couple of cents for each completed and could go as high as $0.50 per survey. You can visit a website like Swagbucks for more information.
So do I recommend doing surveys? Not really. I mean, if you can find a good site that pays a decent amount to complete a survey in a reasonable amount of time, then surely it can be worth it. But then you’ll need to ask yourself, would they attempt to freeze your account when you try to withdraw? I see red flags with doing surveys.
However, I would probably instead do virtual betting as I could earn more by not even getting as much. For example, I may be able to make $0.60 by betting $0.30, but of course, please gamble responsibly and do your due diligence while doing so.
Did you know that companies will pay you for testing out their website and its various functions? It’s not that hard to get started either, with UserTesting, all you need is a laptop, PayPal account, and microphone to get started.
You can earn anywhere from $10-$60 for doing a test, in which you will navigate through a company’s website describing everything you are doing and what is and what isn’t working. The length of time completing a test may vary. However, this is a relatively simple task to start earning some extra cash for your wallet or bills.
There typically is a condition, in that you are only limited to do only a few tests weekly. Meaning, once you finish testing a site, that may be all you can complete. But if you don’t mind spending a little time doing these tests every week, you’ll want to check out their website.
With relatively low requirements to get started and the flexibility to begin testing whenever you want, this may be an option for you, especially if you have a busy schedule.
Creating a Course or eBook:
The last option for you to earn some extra money is to create a course or an eBook. Now you probably think what exactly you could do a course or eBook about? Well, choose something you’re passionate about or expertise in. The options are limitless.
With this option, you could potentially earn the highest amount of money, but similar to writing a blog or doing YouTube, it may take a while. So again, ensure that you don’t get up and just quit after you do not see the results you want within the first couple of months.
The good thing is you can do as much research as you need to create the course or eBook successfully. There are plenty of videos and articles for you to read on building a successful course or eBook.
Your pricing should not relatively be too high, but a price that could compete with your competitors and entice people to purchase from you. With that said, this will cause you to do additional research and view your competitors.
What is the best option I would encourage you to try? Well, for in-person, a delivery driver doesn’t seem to be a terrible option as many people will still be ordering their products online due to the coronavirus pandemic. If not that one, maybe try doing YouTube and upload videos about your passion or do so by creating a blog.
Feel free to share some fun ways to make money down below in the comments.
Disclaimer: I am not a financial advisor. You are trading at your own risk and should consult a financial advisor for any investment decisions. Do your own due diligence when considering investing, and this information is for educational/informational purposes only.