Ashley Hanson

Using Multiple Streams of Income to Secure your Financial Future Financial stability is something almost everyone dreams of, no matter what your age group or lifestyle. There are several ways you can generate multiple income streams to build up your savings. Doing so helps you to secure your financial future, and this is important for everyone. Create Your Business Legally Most of the following income generators do require you to have a legal business. Setting up your business allows you to collect your profits and pay any taxes at the end of the year. It also removes some of the personal liability as you're setting up a business that you operate. You can do this by ​registering as an LLC​ or another business entity both with your state and the IRS. To do this, you'll need your business's name, location, ownership or management structure, and registered agent information. A registered agent is the person who gets your legal documents and official papers. You'll also need to file for an employee identification number (EIN) and a state tax ID number. Finally, you must open your business bank account. However, since you're self-employed, most of the jobs listed won't remove any taxes from your pay. This means you can quickly end up owing thousands at the end of the year. As a rule of thumb, you should set aside at least 33% of all of your earnings to pay your tax bill. The IRS requires that you pay your taxes quarterly. You can do this by estimating your tax payments using ​Form 1040-ES Estimated Tax for Individuals​ and submitting it along with your payment. Section One - Earned Income You can earn income, and even develop multiple streams of income by selling your existing knowledge and expertise. You're going to get paid one of two ways. The first is for doing work for someone else by capitalizing on your knowledge. The second way means you're going to teach someone how to do something new. This is an effective way to make money because you can capitalize on what you already know. For example, say you know how to sew various patterns. You could create and sell step-by-step guides to teach someone how to sew these patterns themselves. If you're tech-savvy, you could build websites or optimize existing content for SEO. The possibilities are only limited by your knowledge. We’re going to walk you through 11 broad potential income streams that you can make money from by selling your knowledge. You’ll see specific examples, with tons of detail so you can get started building that stream of income right away. Write eBooks If you like to write, you can turn your writing into an eBook. An eBook is a digital copy of a traditional book. You can take your eBook and market it through the larger digital vendors like ​Amazon​ or Goodreads​. It's a fantastic way to gain a large amount of exposure in a short period of time. For example, Amazon allows you to self-publish on their platform, and you get 70% of all of the royalties earned on your books. You can set your own prices and it's a very user-friendly platform for new authors. Each time someone purchases your eBook, you earn a profit. At first, you may not make much money because it takes time to grow a fan base and prove that you're a good writer. However, as you start to publish more and generate a customer base, you can easily make a few hundred dollars every month with your eBook royalties alone. Writing an eBook and publishing it requires that you dedicate a significant amount of work. Even a very short eBook would require at several hours of work from the planning and outlining stages to formatting and editing. If you're writing an eBook for someone else, expect to put in close to full-time hours to meet your deadlines. You may find some writing clients that are more flexible, and they will let you work around your schedule and choose how many hours you wish to work. The good news is that you can write, edit, and publish your eBook without much help from many additional staff. However, most people do employ the services of an editor and a book cover designer to help sell their eBook and make sure it flows. Turn Your eBook into an Audiobook Audiobooks are very popular because they allow people to bring the book with them while they're out and about. They can listen to the book with a pair of headphones or from their car. You can turn your eBook into an audiobook in the comfort of your home on your own time. To start, find a room that doesn't have a lot of noise interference. A lot of people choose their bedrooms or even walk-in closets. You might want to purchase a pair of noise-canceling headphones and a mic. But, your computer's built-in microphone can work well too. You can find online recorder apps that you download for free and use like ​Online Voice​ and ​Speakpipe​. If you don't want to record your own voice for your audiobook, you can hire a voice over artist through Voice Realm​ or ​ACX​. Once you have your audio file, it's time to edit it. Again, you can choose free software like ​Audacity​, ​WavePad​ Editor, or ​Ocenaudio​. The final step is publishing your audiobook. You can do this through Amazon's ​Audiobook Creation Exchange​, ​ListenUp​, or ​Audioshelf​. Freelancing Freelancing has exploded in popularity in recent years as people have discovered that it is a viable way to earn a lot of extra income around their schedule. Freelancing refers to taking on paid work for different clients and not being committed to one company. You collect clients in your niche and they pay you when you complete their projects. Some freelancers have an hourly rate, some get paid via retainer, and some have fixed prices. The fixed prices usually come split into two payments. They get the first payment upfront and the other payment when they complete the work. You could contract with companies for remote work or find work from freelancing employment platforms. There are dozens of niches you can freelance in. Maybe you're great at building websites or coding apps, or you love to write company profiles or resumes. There are freelancing opportunities all over the world if you know where to look. A lot of companies pay through PayPal, and some pay through direct deposit. You can charge for your time by the hour or by the project. One study that found, on average, freelancers make between ​$10,000 and $20,000​ per year. Just under 20% of the respondents reported making more than $50,000 annually. This is from freelancing alone and it doesn't include other income. At the very least, it's relatively easy to make a few hundred a month doing freelance work part-time. The amount you make depends on your niche and your skill level because some types of freelance work pay more. The amount of work required depends on the type of freelancing you do. If you contract directly with a client, you'll most likely have a more rigorous schedule to follow. Things like content mills or freelancing platforms give you a higher degree of flexibility. You can work as little or as much as you want to hit your income goals. The national average is roughly ​36 hours per week​. Most freelancing work is a solo operation. You contract with your clients and they expect you to churn out your services. There are several different types of freelancing projects you can take on, and they include: ● Writing - Freelance writing is very popular because it's flexible. Once you sign up, you have to submit writing samples and set up your tax information. You'll get paid each week for the content the client accepts into your PayPal account or through direct deposit to your bank. ○ ​GetACopywriter​ - Go to GetACopywriter and click the "Log In" button to get started on the application process. Submit your writing sample and provide your tax information for a sole trader, your ID, and a valid PayPal. Pass the application process and you'll submit a short writing sample for any category that you have interest in. When they accept your application, you can pitch for projects. They pay out every Sunday evening. ○ Textbroker​ - Go to Textbroker's landing page and click "I Write Content" to start the application process. You'll create your account and submit a short sample, your tax paperwork, with a valid PayPal. They'll accept you and you can immediately write orders from the Open Order pool. Any money you accumulate throughout the week is eligible for payout on Thursday before midnight. The money will be in your account Friday morning. ● Graphic Design/Photo Editing - Photo editing and graphic design are some of the higher-paying freelance jobs available, depending on where you work. ○ Dribbble​ is a virtual job board that hosts jobs from around the world. You don't have to create an account to start. Instead, you can search for jobs in your wheelhouse. When you find one, click "apply." This will open an application tab. You fill in your name, email, resume, portfolio link, and a cover letter. If you're a match, the company will get back to you. ○ FlexJobs​ acts like advertisement boards that connect graphic designers and photo editors with jobs. It's $14.95 per month to have an account, and you need an account to apply for jobs. Once you click "sign in" and choose your plan, you can set up your account. Fill in your profile and start searching for jobs that interest you. ● Web Development - Maybe you're really good at creating websites for people. You can create websites for local businesses or you can take your skills and develop websites for large companies and corporations. ○ WordPress​ allows you to develop websites and templates for individual bloggers and businesses. As an open-source platform, WordPress is free to use. ○ Problogger​ - If you need to find web development jobs, Problogger is a virtual job board that hosts dozens of jobs. You don't need an account to access and apply either. All you do is search for "web development" or "remote" to pull up the jobs. When you find them, you can click "apply" and upload your resume to send off. ● Accounting/Bookkeeping - Good with numbers? Maybe you have experience in accounting. You can work from home as an accounting or bookkeeper. ○ You can start by going online and registering for cloud software. This makes it easier to log into any client accounts and answer questions in real-time. Free and low-cost cloud software includes ​Citrix​ and ​Box​. ○ Go online and search for your freelance jobs. ​Freelancer.com​ lets you create a completely free account and bid on accounting and bookkeeping jobs. The platform requires that you add your photo, upload a portfolio, and fill out your profile. With each bid, put in the price you'll charge, and remember to tailor your pitch for each job. The money you earn goes into your PayPal. ● Legal Services - Paralegals and lawyers can easily work remotely for companies. Most clients require that you have your State Bar to work as a lawyer and a certification to work as a paralegal. ○ LinkedIn​ - LinkedIn has business profiles with a Premium tier you can join. It's free for the first month and $29.99 per month after that. You can choose a Premium Business or Personal account. Sign up with your information and fill in your profile. Search for the jobs you want and apply with your resume. ○ ​Glassdoor​ - Create your free account on Glassdoor. You can upload your resume or use their template to feature it on your profile. When you find a job you like, you can ● ● ● ● ● apply with your profile or your resume. Once you apply, they could ask for a Skype interview to see if you're a good fit. HR Services - It's possible to be a support person for an HR department from home. You'll be responsible for things like maintaining a schedule, keeping track of occurrences for employees, and helping with paperwork. ○ SimplyHired​ -SimplyHired is one of the largest job platforms available. They feature job listings directly from employers so you don't need an account on the platform itself to learn who's looking for help. Every time you click "apply" on a job you like, it'll redirect you to their website to fill out an application or submit your resume. ○ ​ZipRecruiter​ - The first time you apply for a job on ZipRecruiter, you'll input your email. Then, they'll redirect you to a page where you upload your resume and fill out a profile. You can apply for local or remote jobs simply by clicking "apply" when you find one you like. Staffing/Recruiting - The staffing and recruiting industry is massive, especially in and around larger cities. A single recruiting agency can easily have hundreds of clients to match to jobs, and this increases the need for more recruiters. You'll be responsible for sourcing and submitting qualified applicants to jobs through the company's platform. ○ LineHire​ - You can create an account on LineHire and go through a multiple-step quality assurance process. Make it through, and they'll give you access to tools that help match candidates to jobs. ○ Indeed​ - Create a free account on Indeed and fill in your profile. You're now ready to search for staffing and recruiting jobs. When you find companies hiring, you'll click "apply" and upload your cover letter and resume. You can apply for dozens of jobs in both your local area or remotely. Copywriting Advertisements - Companies routinely hire copywriters to write their advertisements for them. You get paid per advertisement for most companies, although some agree on a price and pay you once or twice a month. ○ Problogger​ requires you to apply and submit short samples of your work. If the company chooses you, they can ask for a short sample via email. From here, they send you a contract that outlines the page rate, schedule, and workload. Paid Advertising Campaign Manager - Paid advertising campaigns work to entice prospective customers into clicking on an ad to go to the company's website. ○ Facebook​, ​Google Ads​, and ​LinkedIn​ all offer paid advertising campaigns. The company loads the money into the account, you set up the ads, and you monitor them throughout the campaign. You can hone your ad management skills by offering to run a few ads for local businesses to gain experience. ○ CareerBuilder​ has a host of these jobs available. Click the "sign up" button and fill in your first name, last name, zip code, and password. You'll activate your account and start applying for jobs. Each job requires that you upload your resume and fill out a short application. The company will respond via email if they'd like to proceed. Project Management - Project managers have the ability to implement and complete projects from start to finish. They can effectively manage teams of people and they have to manage ● ● ● ● expectations as well. Duties might include planning out a project, seeing it through, and closing it. ○ Remote.co​ - This site is an interactive job board. You browse and search for available jobs. When you find one you like, you click "apply." This will automatically redirect you to the company's website and you'll fill out their application. ○ SkipTheDrive​ - This platform posts new project management jobs every few days. This site works just like Romote.co. You apply by redirecting to the client's website. They may require a resume with an application. Virtual Assisting - Virtual assistants manage the day-to-day operations of busy professionals. You could find yourself managing a schedule, handling phone calls and appointments, arranging travel, and more. ○ Zirtual​ - This company hires US and Canadian-based virtual assistants. You pick a job, apply and go through the interview process. This company does require that you're available to work from 9am to 6pm Eastern time. You can apply for multiple jobs at one time. ○ VirtualAssistingJobs​ - This site connects virtual assistants with clients. You can either post your services and wait for clients to find you, or you can apply on their virtual job boards. Once you apply, they may contact you and ask for more information, what experience you have, or an interview over Skype, Slack, or any other platform. Photography - Photography allows you to set your own hours and you can work exclusively in your local area. It's easy to start as long as you have the correct equipment. ○ Facebook​ lets you create a business page. You can choose to join groups to help get the word out about your services. Facebook ad campaigns are another great way to gain exposure. ○ 500px​ - If you want to sell photos online, this platform will give you 70% of the royalties for each photograph you sell. It's free to create your account and upload your photographs. A standard license through the site is $250, so you keep around $175. ○ Shutterstock​ - Shutterstock allows you to create a free account and upload your pictures. You'll earn $.25 per download when you first start, and the downloads are unlimited. SEO - SEO stands for search engine optimization, and it's a way to get the search engines to pull pages to the top of the rankings. You can take an ​SEO course​ to brush up on your skills and ensure that you're up-to-date on the latest methods. ○ FlexJobs​ - This platform is an excellent resource for SEO-specific jobs. The first thing you want to do is create an account. You'll pay $14.95 per month, or they offer a yearly plan and a three-month plan. When you sign up and pay, you can apply for jobs through the platform. Your freelancing clients may offer you a contract position that pays every two weeks or once a month. Lead Generation - When you work in lead generation, it's your job to find potential customers and set up appointments for your clients and their sales teams. You act as the first step in the prospecting process. ● ● ● ● ○ AngelList​ - You don't need an account to apply with jobs through this virtual job board. Instead, you can search for "lead generation" positions and click "apply" when you find one that fits. The site will direct you to the employer's website where you'll fill out the application. ○ Overpass​ - When you land on the site, click "Become an Agent." This will open a new tab where you fill in your information. You'll be prompted to fill out your profile. It's important that it's complete because this is your resume. The clients will reach out and schedule phone interviews. Editing/Proofreading - With so many people choosing to publish short stories and books, editing and proofreading jobs are in demand. If you have a knack for grammar, punctuation, and spelling, you could excel here. ○ Polished Paper​ - Currently accepting editors and proofreaders, but you have to apply and pass a 35 question proofreading test. Once you do, you'll gain access to the platform. You can pull orders from the job boards, complete them, and get paid through PayPal. ○ Writing Jobz​ - Writing Jobz is another site you have to apply for and submit a sample to gain access to the platform. When you do, you can pitch for jobs. When the client accepts the job, you get paid per job you complete. Online Tutoring - Tutoring through video platforms can generate a decent amount of income in a short time. You can work at your own pace and teach subjects that you're passionate about. ○ Tutor.com​ - You can sign up for their online tutoring classes by going to their website and clicking "Become a Tutor." You fill out an application, take a test on your subject, pass a background check, and go through a mock session. If you pass, you can immediately start picking up tutoring jobs. The courses range from kindergarten to college and adult learners. You get paid twice a month to your bank account. ○ HigherEdJobs​ - You'll gain access to over 21,000 jobs with 200 online-only positions that are perfect for remote working. You can narrow your search down by job type, grade, and contract length. Social Media Marketing - For those who are social media savvy, a social media marketing job can be a perfect fit. You create and share content across the various social media platforms in order to generate interest in a product or service. ○ CareerBuilder​ - In order to use CareerBuilder, you have to upload your resume. Once you do, it'll prompt you to fill your relevant information like your address and name. They'll ask you a short questionnaire to see if you're a good fit for the job or not. If you are, you can fill out an application. ○ ihiremarketing​ - Start by registering for a free account by clicking on the "Job Seeker" button. You'll fill in your email, name, zip code, and password before clicking "register." You'll answer a few short questions that allow the site to tailor your jobs to your skills. Once you make it through, you can start applying for jobs with your resume. PR - A public relations specialist is in charge of managing a brand's reputation. You help direct and control the flow of information from your business to the public. You can also help clean up a brand's reputation and perform administrative tasks. ● ● ● ● ● ○ Public Relations Society of America​ - This user-friendly platform connects you with PR jobs all over the United States. Once you find one, you can fill out an application and submit your resume. Transcription - Transcribing documents is a very flexible side job. You get paid per job, and the pay increases with the length and difficulty level of the dictation. ○ TranscribeMe​ - This site will pay you weekly. You create an account and go through a short training session. Once you finish the training, you'll take a short exam to gauge your accuracy levels. If you pass, you'll immediately be able to transcribe short one and two-minute audio clips. There is room to advance and move to higher paying jobs. Data Entry - Data entry jobs are typically very quick and easy to do, depending on the company. They're usually everyday tasks that businesses don't have time to complete. ○ Microworkers​ - Start by registering for a free account with your details and PayPal email. The site allows you to complete as many micro projects as you'd like, but they typically pay less than a dollar per job. You're paid out every Friday morning to your Paypal. ○ FlexJobs​ - This platform allows you to pick up data entry jobs. You'll take a short test when you sign up to prove your accuracy levels. If you pass, you'll get immediate access to data entry projects. When the client accepts your job, payment will go to your weekly balance. You'll get paid via PayPal when you complete jobs. Translations - Translators are in high demand for dozens of languages. You can do real-time translating over the phone or you can translate dictated or written text. ○ MechanicalTurk​ - Amazon's MechanicalTurk program give you access to hundreds of translation jobs. There is a several week wait when you apply before they accept you, but they pay by the job to PayPal. Additionally, you can move up to higher paying jobs once you complete the entry-level jobs you find. ○ Clickworker​ - Clickworker is another site that is great for beginners. You register, take a short assessment, and start performing jobs when you pass. The site pays you out on Monday nights, and the money goes to your PayPal by Tuesday afternoon. Programming - Apps are getting more and more popular, and businesses need programmers to build them. It's a very popular niche and there are dozens of freelancing jobs for all experience and skill levels available. ○ AuthenticJobs​ is a platform that connects programmers to employers. You can search by full or part-time, internships or remote positions. You can also search for programming jobs involving UI design and more. Once you find a job you like, you can simply apply through the job's website without creating any accounts. Music Writing/Production - Maybe you have a passion for writing and producing music. There are several ways you can earn money from your music skills, both locally and remotely. ○ EntertainmentCareers.net​ - EntertainmentCareers is a job board that you can use to apply and get music-related jobs. If you find a job that you like, you can click the link to take you to the employer's website. You'll then fill out their application. ○ iTunes​ - iTunes allows you to upload any sheet music you write. You will have to set up your iTunes account first. However, you can set your prices and put your work in the iTunes store for other people to buy. The money you earn goes into your PayPal account. ● Travel Consulting and Booking - Organized people who love to help clients book their dream destinations can do so from home. You want to contact a host agency to start. You'll work for them as a contractor, and they connect you to clients. ○ BCD Travel​ - You start by going to their website and clicking on the "careers" button. You'll get a prompt to create an account. Input search terms like "travel agent" or "remote" to find a job you're interested in. You can then upload your resume, apply for a job, and more. ● Market Research - Companies are always looking for help with market research and expanding their knowledge base. This type of work is a good opportunity for people who have expert knowledge on specific topics or who have a research background. ○ JustAnswer​ - This straightforward platform has users that ask questions. You answer them, and the site will pay you for every question the asker accepts. You get paid twice a month to your PayPal. ○ MarketResearchCareers​ - This is a site that lets you create an account and apply for research positions all over the US. ○ Swagbucks​ - If you just want to offer info as a consumer, you can make a little extra cash filling out surveys through this platform. ● Consulting - Maybe you'd make a good consultant in your spare time. You'd be in charge of providing information to companies and individuals for a fee. Your fee depends on how in-depth the job is, the duration, and the client. ○ Expert360​ - This higher-profile company has a host of consulting projects available. They work with big companies like Coca-Cola and Virgin Mobile. You get paid per job, and payment can range from $500 to $1,500. You can apply by clicking the "sign up" button. Next, you can upload your resume, create a profile, and search for jobs that fit your niche. Clients can also search and reach out to you. ● Podcast Production - Podcasts are popular because people can listen to them on the go. You can create podcasts from your own home, but it's essential that you have the correct equipment like quality headphones, microphones, and speakers. You'll also need software to record your podcast like ​Audacity​. ○ iTunes​ - iTunes lets you create an account and upload your content. When you do, it will automatically distribute it to other platforms as well. You can earn money through sponsorships and advertisements. ● Video Editing - Editing videos requires specialized software but if you have it, there are lots of available options for work. ○ Behance​ - This platform allows you to pick jobs and build your portfolio to wow your clients with Adobe Portfolio. You can apply for jobs straight from the site, and it'll automatically redirect you to the employer's site to complete the application. ○ Mandy​ - Mandy is another free job listing site that dedicates itself to the video and audio editing sectors. You can create an account, build your portfolio, and apply for multiple jobs at once. You'll be paid through PayPal when you complete the editing process. ● Voice Acting - Voice acting may take a little time and money right away, but it can turn into a lucrative career. ○ MeetUp​ - Meetup is a platform where you can search for local voice acting opportunities. It's a great way to start and spread the word about your new business. If you want to practice and perfect your voice acting, ​Learning Alley​ will let you read for them as a volunteer. ○ Voice123​ - Voice123 is a professional voice acting platform. It gives you access to over 40,000 clients around the world. You sign up, fill in your profile, and apply for jobs that interest you. ● Grant Writing - If you're a very careful and technical writer, grant writing may be a viable option. Grant writing does require a lot of time, dedication, research, and on-point writing skills, but it pays big. ○ Grantwriterteam.com​ Grant Writer Team lets you bid on dozens of grant writing jobs for local government offices, state government offices, colleges, financial institutions, and much more. You don't even have to create a profile to bid. You click the job that interests you, fill in your information, and submit. If they accept it, they'll email you the details and contract. ● Music Tutoring - If you play an instrument or have experience teaching guitar, piano, or other music lessons, you can earn money in your free time as a music tutor. ○ Preply​ - Find flexible music tutoring jobs on Preply. There are always a variety of jobs posted looking for musicians and experienced music teachers to give private lessons online. ● Personal Training - Are you passionate about getting fit and helping people reach their fitness goals? Maybe you have experience in helping people understand how their diet impacts their body weight. Either way, offering personal training services is an excellent way to earn extra income. ○ Craigslist ​- Craigslist is a fast way to post a job listing for personal training. You can create a free account, post your position, and choose how your clients contact you. You set your hours and rate to maximize your income potential. ○ Another possible avenue is going to your local gyms and seeing if any of them are hiring for freelance personal trainers. If you don't have certifications for it, double check and see if the gym requires them. Some do and some don't. ● Yoga Instruction - If you love yoga and the health benefits that come with it, becoming a yoga instructor could be a great side job. You can gain your certification at the ​Yoga Alliance​ if you don't already possess one. ○ YogaTravelJobs​ - When you get on the landing page, click the little person icon to get to the signup page. You can choose from three different memberships. Submit your relevant information and create an account. You can apply for various jobs across the platform all over the world. ○ Monster​ - Monster is a job profile site where employers post open positions, and you can apply by browsing through them. When you find one that you like, you can click it and apply through the employer's website. ● Party Planning - Do you love to plan parties for your family and friends? If so, why not turn it into a business? Party planners are popular throughout the United States, and it's relatively easy to start. ○ Pick a Niche and Build a Website​ - You don't want to get overwhelmed, so the first thing to do is choose a niche. Do you want to do charity events? Children's birthdays? Holiday parties and trade shows? When you decide, you can use ​WordPress​ or ​Wix​ to set up your website. ○ Market Your Business and Network​ - When your website is up and running, it's time to market your business. You can create a ​Facebook Business​ page, or advertise at local businesses. Search your area for events and trade shows where you can network and start to build up a following. ● CAD and 3D Modeling - If you're good at creating 3D models and CAD, you could work remotely around your schedule. You will need software like ​Vectary​ or ​SketchUp​ to start. Cloud software is also a good idea to enable quick communication with your clients. ○ Guru​ - Guru is a job platform that connects freelancers to potential employers. You can create a free account, pitch jobs, and let employers find you. Depending on the level you buy in at, you'll pay a 4.95% to 8.95% fee on each project you complete. ○ Shapeways​ - If you want to sell your 3D models, Shapeways allows you to post and sell them. You can also use the site to build up your portfolio, and you can connect to clients through the platform as well. ● Customer Service - More and more companies are shifting their customer service teams to remote workers. If you're good at resolving conflicts and working with customers who are less than impressed, you could do well here. ○ WeWorkRemotely ​- This site acts like a virtual job board that updates every day. Companies from all over the world post customer service positions they have open. You can narrow your search down by location and hours. When you click "apply," it'll redirect you to the client's website where you'll fill out an application. Training Training refers to any job where you're teaching someone how to perform a job or pick up a skill. This may involve contracting with a company and visiting their locations to help the company's staff learn to use new software. For example, if a dental office was switching over to a new computer system, they'd need on-site and off-site support throughout the transition process. Webinars are another example of training services. Once you record a webinar, a company can use it to train and update their clients. Maybe you have something you're extremely passionate about like yoga, mathematics, or music. You can create how-to videos and sell them to people who want to learn. You can create your training courses through several easy online platforms like ​Skillshare​ or ​Udemy​. These sites will pay you a percentage of sales each time someone downloads, buys, and watches your training seminar. You do want to market your course, even though Udemy places it in a marketplace with hundreds of students. ​YouTube​ will monetize your videos after you reach one million subscribers. When it does, you'll earn money each time someone views it. It may take time, but this can be a nice side job to help supplement your income. According to salary.com, you can earn between ​$46,460 and $56,440​ per year. It can be slow to start until you get your marketing strategy up and build up your fan base. But, once people start watching your training videos, you can start earning money. You'll put in a lot of work in the beginning. Once you build up a library of videos, it's less work. You can let them sit and routinely market them. You shouldn't need any additional support staff to get these videos up and running. It's something that you can do for yourself. Paid Webinars/Speaking Engagements If you're good at public speaking and have the ability to pull people in, you could do paid webinars and speaking engagements for companies. A paid webinar is exactly what it sounds like. You create a webinar and people pay to watch it. ​WebinarNinja​ gives you a user-friendly interface to create multiple types of webinars. 1. Create an account, log in, and click "Create New Webinar" on the upper right side of your screen. 2. You'll land on the webinar template screen. You can choose from a live webinar, automated webinar, series, or hybrid. 3. Fill in your webinar details and click "paid." You'll then set the price per purchase at this point. 4. Click "create webinar" and create your webinar. You can then market it. You earn money every time someone downloads your webinar. For public speaking engagements, you can sell products or services for companies. Salary.com says that someone who establishes themselves as a public speaker can make up to ​$51,000​ annually. This is more than enough to start saving to your financial future. Your webinars and speaking engagements will require a lot of work up front without a big return until you establish yourself. You can expect to spend at least a few hours per week, if not a few hours per day, recording your webinars. Once you record them, you have to market them. For public speaking, you have to find interested parties, write your speeches, and practice. Both of these jobs don't require any extra staff to perform. You can do them by yourself on your own time. Sponsored Blog Posts Sponsored blog posts are posts companies pay you to write. This is something you may be able to do if you already have your own blog. The sponsored posts are meant to keep the same tone and style as your already established blog posts. For example, maybe you run a cooking blog and a company wants to pay you to write a post around a certain spice or ingredient. If you purchase a product and have a large following, the company that makes the product could pay you to write about your experience with it. It makes you money because you charge whoever is asking you to write it. The average rate is over $200 per sponsored post, and most companies are willing to pay up to $100 more. So, if you had a few of these sponsored posts a week, you could easily start stacking up your earnings. All you do is write in the same tone your other blogs fall into. If you write four sponsored posts a week for a year, you'll earn the average salary for a blogger. Payscale ranks a blogger's annual income at ​$40,404​. The lengths of the blogs will vary depending on what the company requests and is willing to pay for. The blog posts can take you a few hours each week to write depending on how in-depth and technical the client wants you to get. If your blog is established and has a following, you won't have to put in much more effort than creating and posting the content. Unless you have a team to maintain your blog, you won't need additional support to create these sponsored posts. You simply write them, post them, and promote them like anything else. However, the company may be happy to promote it too, and this can generate extra traffic to your site. Restricted Members-Only Content Maybe you know what it takes to build a successful sales funnel, or you have industry knowledge that can help people improve their lives. If you do, you can turn it into a lucrative side business. You do need the charisma to sell it, and you do have to produce the results you promise. But, you can create members-only content for some potential earning opportunities. The way it works is you have public content that anyone can view, share, download, etc, and then you have members-only content. Maybe you want to offer three or four free views per month and only members will be able to view anything after this point. ​WordPress​ has a complete tutorial on how you can create a members-only portion of your website. If you plan to create and sell marketing content, ​EasyMemberPro​ is a user-friendly platform. You can set the membership access price. It can be a monthly subscription service or you can set up a one-time price. The amount of money you make depends on how well you convince your customers that they want to be part of the members-only section of your site. Each time someone buys access to your site, you'll make money. The amount of work required depends on how established your website is -- or if you have to build a new one from scratch. There is also routine maintenance to consider. Most of the work is at the front end of the project though. Once it's set up and running, you'll just have to spend a few hours a week posting content and marketing your website. This is a relatively straightforward project, and there are dozens of step-by-step tutorials available. Therefore, you should be able to set this up without any additional support or staff. To build up buzz around your website and to promote your member's only material, you may need to hire a part-time social media marketer. Digital Products like Templates or How-To Guides Can you create step-by-step how-to guides or templates? Maybe you like to design lesson plans for other people to use in their classes. You can create these templates or guides and sell them online. If you design curricula, you can sell them on ​TeachersPayTeachers​. If you want to create and sell craft patterns or templates, you can create an account and list them on ​Ravelry​, ​Etsy​, or ​Blueprint​. Once you write out your guides, patterns, or templates, you want to convert them into a PDF file so nothing changes when you upload them to the sites. This is relatively easy to do. You create your guide in Google Docs or Microsoft Word. When you go to save your item, select PDF as the document type. Name your document and click "save" to save it. You're now ready to upload it to your store or website of choice. You set a price for your template or guide. You have to consider the time it took to create, how difficult the subject is you're teaching, and what you're teaching. If it's a template, consider how versatile it is. Will your customers be able to get more than one use out of it? You want to take a look at your competition's prices and get a low and high price. Ideally, you'd price somewhere in the middle. You have to remember that most platforms take a percentage of the price. Realistically, you could expect to earn at least a few hundred dollars a month. Again, this depends on your platform, their cut, and your original price structure. If your how-to guides or templates gain popularity, your earnings will start to go up. This is an ongoing project that will require work upfront and routine maintenance. Once you get several guides or templates up, they'll sell by themselves and it won't be as much work. However, you should expect to donate at least an hour or two per day if not more to create your first templates. When you get one template, you can usually use it again for your next project. This is a largely solo project. You can easily set up your store and sell your guides and templates without needing any additional help. Online Courses Do you have a passion that you want to share with the world? You can turn it into a profitable online course quickly and easily. To start, you can create a free account on ​Teachable​. Put in your email, full name, and name your "school." This name is what your customers will use to find you. Once you verify your email, you'll end up on a dashboard. Click the "create a course" icon to start creating your course. You'll get weekly webinars and how-tos that help you market your courses. There are also three membership options you can choose from. Each time someone downloads your course or courses, you get paid whatever you set the course cost at minus Teachable's fee and Stripe's processing fee. Your money will get delivered into your bank account each week. Since the global e-learning market has projections to reach ​$325 billion by 2025​, you have the potential to earn a lot of money. You can set your pricing up as basic one-time payments, reoccurring payments, or subscriptions. Things that factor into the pricing structure include your authority, video length, audience, and demand. On average, people who create online videos earn around ​$44,000 per year​. These online courses are more work to start with. You should plan to dedicate at least a few hours per week to setting up your first few online courses. Get them all set up, and you'll notice that the workload decreases. Your videos can keep making money because people will continue to download them without any more input from you. You can create these online courses by yourself, at your own home. You shouldn't need to bring in any additional staff or people to support your videos. Move Your Full-Time Job to a Remote Position If you already have a full-time job, you might be able to relocate it as a remote position and work from home. One popular example of this is nursing. Registered nurses can work from their home as triage nurses, case management nurses for insurance companies, and in medical call centers. They still need their experience, skills, certifications, and licenses. However, they're able to work from their home each day. It'll make you money because you're still working full-time in your chosen profession. Depending on the profession, you may even get paid more for remote work than you'd get for in-person working. For example, telephone triage nurses can earn between ​$64,149 and $79,505​. A nurse that goes into work each day earns roughly ​$65,000​ per year. Depending on your profession, there may not be a lot of additional work involved. You will have to talk to your company and get your office set up at your home. You'll also have to get into the habit of working your typical schedule of 40 hours per week. This will let you hit your required 80 hours every two weeks for full-time. You won't need any additional staff. You're still contracted by your company to do the work yourself. They're still paying you to work. Section Two - Other Earned Income If you're still not sure about what you can do to earn your additional income streams, this section features a mix of more business-oriented projects and things you can complete in your spare time. Most of them are free to start. Maximize Your Primary Salary Have you worked at your job for a few years and you're not sure when was the last time you got a raise? If you're in a Union position, you most likely have a raise schedule. However, a lot of salary jobs don't have this. You can work on maximizing your primary salary. This way, there's no extra stress or demands on your time, but you'll make a little more money. To do this, schedule a meeting with your direct boss. Sit down and outline why you believe you deserve a raise. Maybe you worked on several projects or closed a large account. Or, you've taken on more responsibility due to staff shortages but haven't been properly compensated for it. Whatever the reasons, make a short note and bring it into your meeting. Lay out why you deserve a raise. If your boss refuses, start looking at other companies. Chances are, they'll be happy to hire you on at a higher rate than you're getting paid now. Either your raise or getting hired at a new company will maximize your income by giving you more per hour. You can take whatever additional money you make and stick it into your savings account. You can make any more from a few cents per hour to a few dollars, it all adds up! You'll want to set aside a few hours to get all of your paperwork together. If you decide to switch jobs, you may find yourself dedicating more time to starting your search, applying, and interviewing. The good news is that once you either get a raise or get a new job, your workload shouldn't increase. You won't need any additional staff or support to maximize your primary salary. You do this on your own. Resume/CV Writing People want professional and polished resumes when they apply for a job, and they may not know how to put theirs together. ​Fiverrr​ allows you to set up a free profile and showcase your resume writing skills. Once you create an account, you can start editing your profile. You want to add a picture, previous job experience, and portfolio pieces to catch readers' attention. Next, set up your job posting as a resume writer. You can set a price, and Fiverrr's prices range from $25 per resume up to over $50 per resume. As you get more experience and more ratings, you can increase your prices. Each time someone orders a resume from you and you complete it, you'll get paid for it. Fiverrr will transfer your money to PayPal. If you're just starting and you set your resume price at $20 per resume and you get 5 orders per week, you'll make $100 every week. On average, resume writers make just over $23 per hour, and this works out to ​$37,500 annually​. This job does require ongoing work. You'll have to work harder in the beginning to build up your reputation and rating so you can earn more per resume. At the very least, plan on checking in at least once or twice a day. When you start getting orders, you may spend a few hours every other day or so writing. You shouldn't need any additional support or staff to perform this job. It takes minutes to set up your profile and fill in your information. Manage or Coach Other Freelancers Content companies need support staff to help manage and coach the freelancers that work for them. These support people act as a buffer between the freelancers and the clients. You're contracted directly to the company. Textbroker​ is always looking for editors to add to their team. And ​GetACopywriter​ has a questionnaire you can fill out to see if you'd be a good fit for their team. Most of these positions are flexible so you can make money around your regular job. You're able to incorporate your hours with your existing hours and work full or part-time. Depending on the company, they pay every two weeks or every month to your PayPal or bank account via direct deposit or Stripe. Your realistic earnings depend on the company and whether or not you want to work full or part-time. The average yearly earnings for a full-time support person is ​$45,973​. They make roughly $19.36 per hour with $14.39 being on the low end and $27.30 being on the high end of the spectrum. This would be like taking on another part or full-time job in addition to your main income stream. So, there would be a significant amount of ongoing work involved with accepting one of these positions. You won't need to bring on any additional staff because you'd be applying and working on your own. Build an App for Apple or Android App building is a popular side business for a lot of people. With certain platforms, you don't even need extensive programming knowledge to accomplish a sleek and responsive result. You could create a game or news app, or study-centric apps are also popular. ​Appery.io​ is a cloud-based app building program for both iOS and Android. You get drag and drop components to build your app's user-interface, and everything backs up to the cloud. Plans start at $60 per month. When you develop your app, you can sell it in the app store. If you develop the app for a company or person, you earn money when they buy the completed project. If you put your app in the app store, you can set the price. You'll get paid every time someone buys and downloads your app. Since you set the price for your app and the popularity determines the price, how much you can make fluctuates. However, most app developers who gain a following earn roughly ​$29.48 per hour​. Even if you only develop a few apps, this has potential. You will have to put in a few hours of work each time you develop an app. However, using the same program, again and again, will only help you get faster each time you do it. Once your app is sold or set up in the app store, there's virtually no additional work for you to worry about. The app building programs are very user-friendly, and you shouldn't need any additional support staff to complete your work. Build a YouTube Channel and Collect Ad Revenue YouTube​ is a very popular video sharing platform that has over 1.8 billion users each month. Creating a channel and uploading content is relatively easy. The first thing you do is create an account and turn on ​account monetization​. This will connect your account to an AdSense account. Upload your videos and promote them however you like. Each time someone watches your videos with the ads, you'll earn a few cents. The average rate is $7.60 per 1,000 views​. YouTube keeps 45% of any profits you earn. When you reach $100, you'll get a payout to your bank account. The more subscribers you have that watch your videos, the more earning potential you have. This does require a lot of work and dedication on your part. You'll have to promote your channel, upload new content, and keep your subscribers happy. At a minimum, you should plan on at least an hour or two a day to create, edit, and upload content. Once you build a following, it won't be so difficult or time-consuming to maintain it. You won't need any additional support or staff to take on this project. Become a Digital Publisher You can open a digital publishing company to help new authors get their books published and out to the general population. First, you have to decide on which genre you want to publish and whether you'd rather be an LLC or a sole proprietorship. Pick out a company name and pick which state you'd like to register your business in. You can get a UPS mailbox for your business correspondence. You can use ​MyCompanyWorks​ to ensure everything is set up correctly and your paperwork gets filed. When you start garnering clients, you'll set up contracts. The author will get 50% of any sales for writing the book, and you'll get 50% of the royalties for publishing the book. On average, publicists make around ​$45,714 per year​. Setting up your company shouldn't take you more than a few days, but getting clients can take you longer. You could hold a contest to generate interest and offer a contract to the winner. Each applicant can pay a $25 registration fee for a chance to win. You'll have to dedicate an hour or two a day at a minimum to keep up with all of your correspondences and questions. When you first start your company, you most likely won't need any additional staff. However, if your company starts to take off, you may have to hire one or two staff to help you keep up. Video Series or Podcasts of Industry Professionals If you like to create videos or podcasts, you can easily turn them into cash. You can use free software for your videos like ​OpenShot​ to clean up the final product and edit it. For podcasts, you'll need some equipment like a microphone and a quiet area to record. A bedroom or even a walk-in closet could work. You can use ​Audacity​ to record and edit your podcast. Email industry experts and ask if you can interview them. Turn these interviews into podcasts and videos. When you do, it's time to upload them so you can start making money. For videos, iStockphoto has a large client base that regularly buys them. To start, fill out your free application and pick out the most appropriate category. The site's quality assessment team will review it and send you an assessment quiz. Each video the team accepts and sells earns you 15% royalties. Your podcasts can also go into iTunes. You'll have to create a free account, title your podcast, and add a description. Each time someone buys it, you get paid. You can also earn from paid sponsorships. High grossing podcasts make thousands a month. They charge anywhere between $25 and $50 per podcast download. When you first start, you may only make a few hundred dollars, but you'll earn more as you build up your reputation and fan base. Interviewing industry experts could quickly help to boost your ratings. You should plan to dedicate a fair amount of work at first. You have to decide how often you want to post your videos or podcasts. Once a week? Twice a week? Once every two weeks? It can take several hours to record and clean up your product before it's ready to go to the public. At the very minimum, set aside 8 to 10 hours per week to dedicate to them. You can do this on your own without any additional staff. If your podcasts or videos get a lot of attention, you may find yourself hiring one more person to help. Deliver with DoorDash, UberEats, or Postmates If you have a car newer than 1999 and a few spare hours, you can sign up to deliver with ​DoorDash​, UberEats​, or ​Postmates​. Certain cities allow you to deliver via bicycle and scooter as well. You sign up for either company if they deliver in your area. They'll send you an app that'll alert you when you have orders. You pick up the orders, deliver them to the people, and repeat. You can switch it on and off whenever to work around your schedule. You make money from the company. They pay you a pickup fee, a drop off fee, and mileage. The mileage begins when you pick the food up, and it ends when you make the delivery. If you get tips, those are yours to keep. The typical wage is between $8 and $12 per hour. The platforms do take a percentage of earnings as well. How much you earn depends on how much you want to drive, mileage, and how many orders you take. Say you get $1.50 per pickup and $1.00 for drop off per order. They pay $0.60 per mile, and you travel 3 miles plus $0.20 a minute for 10 minutes of your time. You'll end up with $6.30 for the order. The platform takes a percentage to take your total down to $4.73. If you make 20 deliveries a week, that's just under $100. There isn't a lot of work required with this job. The customer pays through the app when they order the food, so there's no cash required. You do have to spend a few hours a week working to make anything significant. But, if each delivery takes 10 minutes, it's easy to earn $20 an hour for each hour you work. There are no additional staff requirements for this job. You're driving your car, and the company pays you for successful deliveries. Teach English or a Second Language If you know a few languages, or if you have a very good understanding of the English language, you can teach it and earn money. One good way to get started is by signing up for ​Cambly​. They want English tutors. You'll chat with students in an informal setting to help them start learning the finer points of the language. The site pays you for every minute you spend chatting. It'll pay $0.17 per minute or $10.20 per hour. When you sign up, you'll fill out your profile and pick your hours. You can change these hours as your availability changes. You'll get paid every other week to your PayPal. If you worked two hours a day for a week, you would earn $142.80 per week, and $285.60 per payout. Since you can work as little or as much as you want, your earnings are a direct reflection of this. If you have an expense coming up, you can put in more hours. If you get busy with your full-time job, you can cut back. This is a very light labor job. You just need to dedicate the time to chat. It's easy enough for a single person to do on their own whenever they have time. Become an Uber/Lyft Driver If you have a car, time, and insurance, you can drive people to and from their destinations. ​Uber​ or Lyft​ are two popular ride sharing companies. To start, you can fill out an application on either site. You'll put your information and your vehicle's information in before submitting it. They require you to upload your license, registration, and proof of insurance. You'll pass a background check and download the app to start. You have to be 18 and 21 respectively to drive for either company with a year of driving experience. You'll earn $1.00 for each ride you pick up and $1.50 per mile. Each time you drive someone, you log your driving time on the app. The companies pay out each week to your bank or PayPal account. When you're ready to drive, switch the app on. It'll signal to the company that you're available to pick up customers. You can drive whenever you like. So, your earning amount will directly reflect that. Also, both platforms take a fee for each ride. They claim you can make between $25 and $35 per hour, depending on your location. If you drove for four hours, you could make $100 per day. You won't have to worry about sourcing any additional staff for this job. You drive your own vehicle on your own time. Become a Notary You can become a notary and operate a mobile notary signing business. A notary agent stamps documents like wills, mortgage paperwork, and trust documents. These documents need a notary stamp and signature to be legal. To start, you have to find your state agency and fill out an online application. Submit it with the filing fee, and double check on whether you need to take the exam. If you do, take it, pass it, and get your certification. You'll have to file notary paperwork as well and purchase your supplies. You make money by charging a fee each time someone calls and requests your services. Depending on where it is, you may charge mileage as well. The average full-time notary agent makes around $51,000 per year​. How much you make will depend on how great of a demand there is and how much you charge per notarization. Notary charges range between $5 and $20 per signature. There will be some initial work depending on whether or not you have to take an exam. Other than that, you simply have to travel to the locations people request you to go to in order to notarize their documents. You can set your hours each week around your normal hours. Since you're the one with the notary certification, you won't need any additional staff to help you. Become a Task Rabbit TaskRabbit​ is a platform that allows you to do small errands for people in your local community. You can register to be a Tasker by putting in your details. You'll get an email that alerts you to when there is an information session in your city. You have to attend to get full access to the app. When you do, you'll be able to get job alerts in your area. You make money each time you complete a task. You can pick categories that interest you and communicate with the clients over the app. It can be as simple as minor housework, or you could pick up dry cleaning. You set your hourly rate, and it can range from $20 up to $150 per hour depending on your skill level. There are people on TaskRabbit that earn upwards up $2,000 per week, but they treat it like a full-time job. Even charging lower rates, you can grab a lot of last-minute jobs, charge more, and get paid each time you complete them. The amount of work required is completely up to you. You work around your schedule and most of the jobs are easy and quick. This is an independent job, and you won't need any additional support staff. Everything comes through your phone. Babysitting Finding babysitting jobs is easier than ever. You can fill out a profile for free on ​Care.com​ to let local families know that you're interested. If you want to communicate with them over the platform, they have paid subscriptions available. You'll fill out your profile with your experience, a picture, and your availability. You also have to pass a background check. You can set the rate you charge per hour on your profile. It also allows you to specify how much your rate changes due to watching more than one child. You'll make money when the families book your services. They can come to you, or you can go to them. They can pay you directly and you can specify how you'd like to get paid. The national average per hour for babysitting services is just over ​$16.00 per hour​. The areas with higher costs of living do pay more. So, if you had time to babysit two hours a day, you'd make $224 per week. You shouldn't need any additional staff for this job. You work around your schedule, and you only babysit when you have time. Dog Walking People love their pets, but they may not always have time to take them out for walks during the day. You can capitalize on this by becoming a professional dog walker. Wag​ is a platform that connects dog walkers to clients. To get started, you fill out the application. Wag will ask you what your prior experience is, give you a collar and harness test, and give you a situational assessment. If you pass, they'll give you access to the platform. You have to be over 18, and you have to be able to walk for at least 20 minutes. You can browse your local area for open dog walking jobs. Once you find one, you can accept it. When you complete the walk, you'll get paid. Wag takes a cut. So, you'll earn roughly $8 for a 20-minute walk (clients pay $15), $12 for a 30-minute walk (clients pay $20) and $15 for an hour (clients pay $30). This is for a single dog. You add $3 for each additional dog you take with you from the same household. There isn't a lot of work required for this job. You complete the tests and assessments and set up your profile. You take the dogs on a 20-minute walk. You can work around your schedule when you have time. If you have time on the weekends and it's nice, get out and make some extra cash! This is a solo project that doesn't require any extra staff. But, it's a great way to exercise. Section Three - Sell Other People's Products You can make money by marketing and selling other people's products. You act like a broker between the clients and the customers. For doing this, you get a percentage of every product that you sell. Promote Affiliate Products in Your Writing If you have a blog or a social media platform with a large following, you can promote affiliate products. A lot of bloggers do this. The company can send you the product, you use it, and you write a review of your experience. You include a link to the product when you write your review. Each link gets a referral code added to it. When your readers go through your blog, click your link, and purchase the product, you get a percentage of each sale. You can join affiliate marketing programs for free and participate. The more followers and presence you have, the more you have the potential to earn. At first, it may be slow money-wise. It takes time to build up your affiliate marketing plan and get the audience you need to buy the products you promote. However, you can make between ​$10 and $25 per hour​ when you get up and running. You'll have to be prepared to put in a decent amount of work, especially right when you start out with the program. Ideally, you want to plan to dedicate at least an hour or two a day building your audience, writing your reviews, and promoting your products. When you start to see a steady stream of income, it won't be as much work. You'll just have to write out the content. For the most part, this is a standalone position. You won't source staff because that takes directly from your profits. Book Review Website or Virtual Bookstore Do you like to read books on a broad range of topics? If so, are you good at writing thorough reviews? ​Kirkus Media​ is a company that excels at book reviews. You have to apply, submit your resume, a list of talents or experience, reviewing specialties, and writing samples. If you pass, they'll give you an account. They'll hire you to write reviews that are roughly 350 words long. The pay varies depending on how long the book was and how long it took you to read it. However, they can go for as much as $60 per review. Read the book, write a review, and you'll get paid via PayPal if Kirkus Media accepts it. If you review one book a day and make $60 per review, you could easily make $420 per week. Even if you only do two per week, you're still hitting over $120. You can put all of this money away into a savings account. If you like to read, there isn't much work involved in this job at all. You have to set aside time to read the book and write a quick review. You could even find the audiobook version and listen to in on your commute if you have one. You shouldn't need any additional staff or support for this job. You can listen to audiobooks as you go about your day. Online Store or Affiliate Links via Amazon Shopify​ is a hugely popular eCommerce platform that allows you to set up your own store and sell third-party merchandise through an affiliate program. You can create a free store from their customizable templates and showcase a broad range of products. You partner with warehouses and brands and act as a promoter for them. Customers can browse your shop, select a product, and purchase it. Once they do this, you send the invoice to the warehouse, and the warehouse fills the order before shipping it out. They can pay for their purchase right through your store when they checkout. You make a percentage of each sale that goes through your store. So, the more you promote your business, the better off you are. Depending on your percentage, you could make a few hundred dollars a week in orders. The hard part is when you first set up your store and start promoting. You want to spend at least a few hours a day getting your platform ready and connecting with suppliers. You can go straight to the warehouses because they're typically willing to work with you. It's also important that you spend a few hours a day promoting your shop and growing your followers. This is a project that you'll do on your own. Shopify is a very user-friendly platform with plenty of step-by-step guides. Section Four - Investment Income Investment income typically requires time. If you have patience and a little money to start out, you can watch it pay off down the line as an investment. P2P Lending (Peer-to-Peer Lending) You can sign up to be a peer-to-peer lender through a platform. Basically, applicants sign up for the site and decide how much money they need. You can look at different lender profiles and decide whether or not they'd be a good fit. When you find one you like, you can agree to pay them the money as a loan. ​LendingTree​ is a good example of this type of platform. You make money because all of these loans have interest rates. The person you lend money to will pay the money back plus interest. You get a cut of the interest money as well. The longer a person takes to pay the loan back, the more interest you collect. When they completely pay it back, you can reinvest. Realistically, you could earn up to 7% back on your initial investment. The investments cap at a maximum of $2,500. So, you earn around $175 each time you invest your maximum amount. But, it's an ongoing investment so you just keep getting money back. There isn't much you have to do. Once you create an account on the platform, you can fund it. Then, you'll start looking at portfolios. When you find one you like, you invest. The platform takes care of the rest. You won't need anyone else to help you through this process. Real Estate Rental Properties Rental properties are always in high demand around the world. You can start investing by purchasing foreclosed homes and fixing them up. Alternatively, you can purchase homes at auctions for fractions of their retail prices. You collect rent every month from your tenants. They can pay it all at once, or you can split it up into two payments. Your rent amount depends on your location and whether or not you want to include utilities. You can look at ​rent estimates​ for the different types of homes and the city and state you live in. Once you have an estimate, you can market the house to your tenants. You can invest in: ● Single-Family Homes ● Multi-Family Homes ● Apartments and Condos How much you make depends on your rent price, how faithful your tenants are, and the upkeep cost for the home. If you earn $800 per month in rental income after subtracting your expenses, you'll earn an extra $9600 per year. The amount of work it takes you to get your property up and ready to rent depends on the buying condition. Foreclosures usually take more work, as do houses bought at auctions. You should plan to spend at least a few weeks making sure everything is up to code and safe. But, it's pretty self-sufficient after that. Depending on the amount of work, you may need to bring in contractors and inspectors. You may also need to hire a property manager. Crowdfunding Kickfurther​ is an example of a crowdfunding platform where you can invest your money and hope your campaign hits big. It's great for beginners because the minimum investment is only $20 instead of the thousands some other ones require. You start the process by signing up and opening your investor account. You can fund the account and find a campaign to invest in. You make money if more people donate to the campaign and make it successful. You're essentially paying for a small part of the company. If it does well, you get dividends. You can either reinvest them or cash out. This investment strategy is a gamble. If your company doesn't do well, you're out whatever money you invested. But if it does, the payouts can easily reach into the thousands. It depends on what you're willing to invest from the start and how well your campaign succeeds. There isn't much work required on your side. Technically, all you have to do is create an account and fund your campaign of choice. However, it pays to promote your company as well. You should spend an hour or two at least per day promoting your campaign and drawing attention to it. While you won't have to hire anyone, you could enlist your family and friends to spread your campaign across social media platforms. High-Yield Savings Accounts If you have money sitting in a bank account, make it work for you. Chances are, your money is sitting in a savings account and collecting interest. You can upgrade this savings account and transfer your money to a high-yield savings account. ​Vio Bank​ is one example out of Kansas City. There is a minimum deposit of $100, but there aren't any monthly fees. To start making money, transfer your current balance to one of their high-yield savings accounts. You'll earn 2.5% interest every single day your money sits in the account. What's more, it compounds on your new balance each day. While this won't make you rich, it can add up to thousands of dollars over the years. How much you make depends on your initial investment. For example, say you deposited $10,000 January first and you let it compound until December 31st. By the end of the year, you'd have earned $253.14 just for letting your money sit in the account. There is no additional work required except opening the additional account. You transfer your money and let it grow. Ideally, you don't want to pull any money out to maximize your savings. You won't need any other staff or support either. Rent Out Expensive Equipment or Tools Do you have a lot of expensive equipment or tools lying around and gathering dust? Maybe you inherited them, or maybe you've simply collected them over the years. Either way, they can make you money instead of just stilling around. Loanables​ allows you to rent out anything from small pieces of equipment and household goods to your car. Create an account and list your items. You can set daily and weekly prices, and you charge a deposit as well. The people pay you the deposit plus whatever they owe you for the time they want to borrow it. When they return your item, you give them their deposit. If they break or lose your item, you keep the deposit. If your item is $50 per day and they want it for a week, you earn $350. Obviously, the more items you list and rent, the more money you make. You could earn anywhere from a few dollars per week to a few hundred dollars a week. Technically, you could even get into the thousands depending on how expensive your items are. There is very little work required. You set up your account, list your items, and negotiate with renters. You should check your account at least once a day to make sure that you're not missing out on rentals. Also, keep track of who rents what and for how long. You should be able to do this by yourself without the help of other staff or support. But, if you have a lot of items, you may want to ask for help to keep them all organized. Invest in a Business as a Silent Partner Startups are hot, and you can invest in them as a silent partner to earn money. Silent partners are the ones who invest in a business but aren't involved otherwise. You give them funding to get the company up and running and then step back. You don't do anything with the daily operations. You get paid and start to see a return when the business starts to take in a profit. Every partner in the business will get a share of the profits. Partners who invest more usually get a larger share of the profits when they come in. Depending on what you invested and how much the business makes, it could be lucrative. However, there is also risk involved. If the business doesn't do well, you may not ever see a full return on your investment. There isn't a lot of work required for this income stream. You have to find a business that you think has promise and work out your investment terms. You invest the money and wait for the business to profit. You'll probably want to bring a lawyer in to help with the contract when you invest. They'll know how to outline one so you're sure that you get the correct profit share. Section Four - Passive Income All passive income requires that you have an upfront investment. Y ​ ou'll have to invest a little to start making money. It may not be a lot, but you should be aware that you will have to have money on hand to start. Get Out of Debt The first step to bettering yourself financially is fixing your credit and getting out of debt. If you haven't already, sign up for a free account on ​Credit Karma​. They'll show you your credit score and factors that influence it. You can check it to be sure it's accurate and dispute any errors. The next step is paying down your debt. You can try and consolidate all of your debt by taking out a loan to cover the cost of your debt. Pay off all of your debt with the loan. Now, you'll have one payment to worry about each month. You can also use the snowball method. Rank your debt from the smallest to the largest. Take any extra money you have each month and pay it on the smallest debt. When you pay it off, move to the second smallest debt and so on. Also, stop adding to your credit card balances. Each month you carry a balance is a month you pay interest fees. This can add hundreds onto your balance. Make all of your payments on time. The more you get out of debt, the better your credit score will be. This can save you money because you'll get lower interest rates and better credit offers. You'll have to work at it, and it's an ongoing process. You want to be prepared to cut some luxuries out of your life and create a budget. Stick to it. This all helps you climb out of debt faster. If you're not sure where to start, you can enlist a financial advisor to help you. Google AdSense Google owns ​Google AdSense​. Simply put, you have to embed ads on your site. You can use text, display ads, rich media, animated images, and link units. You also have to decide on the best spot on your site for these ads. You make money each time someone clicks on your ads or when they click and make a purchase. It's only a few cents per click for most ads, but this can add up. The more followers you have, the more chances you have of earning revenue from your ads. Realistically, you can expect to earn roughly a few hundred dollars a month from your ads if you have the traffic. It’ll be far less if you don’t have enough organic traffic going through your site to click on your links. Also, it may take a few months before you see your ad revenue return to you. You can do this on your own without any additional staff. Buy a Website That's Already Bringing in Revenue Flippa​ is a website that lists other profitable websites for sale. People who don’t have the time or the desire to run their websites anymore list them for sale on here. You can log in and create an account before you fund it. There are thousands of websites you can buy, and you can take a few hours to browse them. They range in price from $1 up to over $1,000. Once you purchase a website, it should start generating income. You can set up any ads to go to your AdSense account, and switch any payer accounts to your accounts. This way, the money will funnel to your account. It’s important that you know about how much money the website will make before you buy it. Look for in-demand domains and popular sites. The amount of money you make depends on how much the website makes when you first buy it. You have to maintain this website so it keeps making money. At the least, expect to spend an hour a day or every other day maintaining and optimizing your new website. You shouldn’t need to bring in any more people because it’s a straightforward operation. Rent an Extra Room or Garage Real estate, no matter how small, is in insane demand in big cities. You can quickly rent out any extra rooms you have in your home. Your garage also makes a great apartment if you insulate it and outfit it like a normal house. You can rent your room or garage per day, for weeks, or months. ​Roomgo​ is one site that allows you to list your rooms once you create an account. You make money because your tenant pays you to stay or live in your room. They can pay by the day, week, or from month to month. Roomgo also has an estimate calculator that lets you know what rooms are going for per month in your area. Say you rent out a room by the month with everything included. You charge people $500 a month to stay. If you rent it out year round, this is an additional $6,000 per year. The amount you make depends on what you rent it for and how often you rent it. There isn’t much additional work required for this job. Aside from posting your room and managing any inquiries, you’re set. You’ll have to lay out ground rules with your tenant when they move in and routinely check in. There is no need for additional staff. License Your Ideas as a Professional Inventor Do you have ideas that you’d love to turn into inventions? If so, the first step you want to take is putting a ​patent​ on it. You pay $125 to patent something, and it protects your invention for 12 months. This will help stop people from stealing your ideas and profiting from them. You pitch your ideas to companies, and you start making money when they accept it and agree to manufacture it. They take ownership of the product and you earn royalties from each one of your inventions that sells. They could decide to do a trial run before distributing it to a large audience. It’s almost impossible to gauge how much money your invention will make. If it’s very well-received during the test run, you could find yourself earning thousands or even millions. On the other end of the spectrum, it may not sell very well and only make a minimal amount. There is a decent amount of work with this. Not only do you have to invent it, but you also have to be able to sell. Your goal is to convince companies that your invention is a fantastic idea. It can take hours every week. Once a company accepts it, you should see the workload drop. At the very least, you want to bring in a business and financial advisor and a lawyer. They can help create a business plan and safeguard you from getting hit with scams. Build a Niche Community and Marketplace Is there something you’re passionate about? If so, you can create a niche community or marketplace. Maybe you’re really into collecting and trading coins. You could build a website around this and make it members-only. ​Wix​ is one platform that lets you quickly and easily build your website. You can set your membership fee for whatever you want. It could be something like a lifetime membership is $25. They could pay a lower monthly fee with so much off if they bought a year membership. Each time someone buys access to your website, you earn whatever your membership cost is. Technically, you could bring in hundreds of dollars a month in additional income. It all depends on how popular your niche is, and how much interest you generate around it. If you have a group of interested people, you could raffle entry and ask them to promote it. Also, once it gets up and running, it’ll keep generating revenue. There will be some work involved, but Wix makes it relatively easy to set up your website. At the very least, a few hours is a reasonable amount to set up your website. You want to spend a few hours a week promoting it as well until you gain a following. You can most likely do this on your own without bringing on more staff. It’s all very user-friendly and easy enough for a single person to manage. Repackage your Digital Content Into a New Product Repackaging your content into something new is a very powerful marketing tactic. What you do is take your older content and refresh it. This can mean reformatting it, adding new keywords and optimizing it, and adding new links. Even if you don’t have a large number of followers, it can help push your content higher in the organic search. You can start earning money with your content when you drive more organic traffic to your site. You can also turn your articles into other mediums like presentations, PDFs, eBooks, Infographics, and more. People can download these items for a small fee. Again, the amount of money you make depends on your traffic. You could earn anywhere from a few cents to several hundred dollars with this new content. It may be slow to start off, but you should eventually gain traction. Since you already have the base content, it shouldn’t take you a lot of time to optimize it or repackage it. You may have to dedicate a few hours at first to promote your website. However, you should have less and less work to do other than minimal monitoring. You can do this on your own without any additional staff. Cashback Reward Cards If you like to shop with credit cards, the ​Bank of America Cash Rewards​ credit card gives you a percentage back each time you use it. If you’re going to shop anyway, you may as well earn a little something back. These cards allow you to do that as long as you have good credit. Each time you shop at grocery stores or wholesale clubs, you earn 3% and 2% cash back. You can earn up to $2,500. This cap resets after three months. You earn a 1% cash back on everything else. If you spend $1,000 in three months when you first sign up, you earn a $200 bonus. Your rewards will come in the form of statement credits or gift cards. You can earn a few hundred dollars per year with this card. The trick is to make it worth it. Rewards cards tend to have higher interest rates, so you have to make the payoff worth what you spend. There is minimal work required to earn your money. You apply and get the card, and then you use it when you shop. Your cash back automatically posts into your account each month. You can choose how to redeem it. You won’t need any extra staff or support to use this income-earning avenue.