How To Make Money From Home Now: 5 Ideas To Start Generating Passive Income
We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
“Having my own business gives me the flexibility I need as a single mom,” says Shan Thomas, a strategic business advisor and founder of Credible Visibility Agency, an Atlanta-based website design agency for women in business.
“Corporate America just didn’t afford me the flexibility I needed to be available for my kids,” she says. “An online business affords me that. I have clients all over the world and have been able to access and service them online. It’s cost-effective and has opened so many more doors.” Thomas notes there are clients in rural communities who wouldn’t be able to access professionals like her if it weren’t for her having a 100% online company.
The ability to make extra money online from home has created a new category of work: “anywhere workers.” That’s the takeaway from a recent survey of more than 1,400 respondents from 67 different nationalities conducted by Lonely Planet and the freelance marketplace Fiverr. According to the survey results, 54% of workers considered themselves “anywhere workers” in that their ability to make money online and pursue financial independence was not contingent on a particular location.
If you’re curious about how to make money from home, advantages and disadvantages to selling online, and how to generate extra money with a location-independent online setup, here’s some advice and tips from experts who’ve done it.
Advantages to Making Money From Home
Making money from home can be a great way to have the best of both worlds. You generate income while having no commute, and for many the prospect of flexible work creates solutions for childcare or other personal responsibilities that wouldn’t be possible otherwise.
“The work-from-anywhere movement is real,” says Yeves Perez, an entrepreneur and CEO of Workbnb, an online travel agency and Airbnb-like service for traveling workers. More than 40 million Americans will be working remotely in the next five years, according to the 2021 Future Workforce Report from Upwork, a gig economy platform. Some want to develop a side hustle that brings in a few hundred dollars a month, while others leverage an online store, online courses, or other money making ideas to make money online full-time.
Your Work Location Can Be Flexible
If you have a computer and an internet connection, you can earn money from home. Most workers who work from home have location independence, which is one of the biggest perks to having a side hustle, negotiating a remote job, or launching your own small business.
“I left my traditional job in 2014 and have been building a business from home since,” says Gabby Wallace, an entrepreneur, YouTuber, and founder of Go Natural English, a company that provides ESL training and on-demand online courses. Wallace’s passion for teaching and content creation have helped her build her YouTube channel to 2.2 million subscribers.
“I have three streams of income that allow me to make four times what I made in my previous job as a teacher,” she says. “I have homes in different states, travel abroad often, and move around when I feel like it. In everything I do, I want to have flexibility in my life; making money through content online has allowed me to do those things.”
If you desire to travel, have to be somewhere else, or want to hang out at your favorite coffee shop, online tutoring jobs and other money making ideas allow you the flexibility to be on the go and still bring in cash.
You Can Create Passive Income
“A home-based business allows you to incur an income from anywhere in the world passively,” says Blake Nubar, a serial entrepreneur and co-founder of Laptop Freedom, an online business that has 10,000-plus customers in 96 countries. “I travel twice a month and the same amount of income still comes in because of the business we’ve built.”
One of the more challenging parts of entrepreneurship can be finding the initial capital you need to even start. If you decide to earn money from home, your start-up costs can be low to nonexistent depending on which income model you choose. Popular approaches include creating your own website, setting up your own online store, or being a virtual assistant, and you can work as little or as much as you want to fit your personal and financial goals.
You Can Cultivate a Higher Quality of Life
The longer your commute, the lower your quality of life, according to a frequently-cited 2008 study published in The Scandinavian Journal of Economics. Commute time statistics are shifting thanks to the increase in remote and hybrid work, but 22% of Americans still commute for 30 minutes or more each way, according to a survey published from Statista, a data analytics company. A separate survey from YouGov last year found that no commute was the most-appreciated perk of working from home.
Many workers note that working from home can create better solutions for childcare or work/life balance. As COVID-19 protocols continue to ebb and flow, figuring out how to make money online is an attractive option because you’re in an environment you know and can control.
Table of Contents
Ads by Money. We may be compensated if you click this ad. Ad
Blogging involves creating content, typically for niche topics or special interests, that can be monetized in a variety of ways. Blogs have several strategies to monetize their content and make money online: on-site ads through platforms such as Google’s AdSense, sponsored content, affiliate marketing and product or service sales.
Bloggers can also use their website for exposure which could result in bookings for paid speaking opportunities, book publishing deals and, in some cases, TV shows and appearances. Starting a blog on WordPress or Squarespace can be a grind in the beginning, but it definitely pays off when your content takes off, providing plenty of passive income in the process.
Earning potential 5000,000-$8,000 What you need to get started Internet access and a website Effort required high Investment needed 800,000-5000,000 for a website, email list or social media scheduler
Ads by Money. We may be compensated if you click this ad. Ad
Design and sell your products and crafts
How about monetizing your creativity by selling your own products and crafts? If you love to create and DIY, there’s no reason why you shouldn’t take a shot a selling your creations online.
The challenging part may be figuring out what you want to create and sell first. Start by considering what you’re good at making. Then, think about what others would like and research the market for specific items. Do you regularly get compliments on certain things you own or have made personally?
How to get started:
Choose a site like Etsy to start selling your crafts or digital goods like printables, posters, and other materials. And if you are ready to create your own online shop, think about setting up a Shopify store. It’s one of the easiest and most affordable ways to set up a robust and professional-looking website for your e-commerce business.
Online personal trainer
Personal training doesn’t just have to be something you do at the gym. Many people exercise from home these days, so becoming an online personal trainer is a great way to earn money working from home.
These days most clients love the flexibility that online coaching provides. They can follow a personalized fitness plan but can fit that plan into their weekly routine without the stress of having to go to the gym.
How to get started:
You should try to get experience by coaching clients in-person first. Once you learn all the basic skills (create the best exercises, keep your clients motivated, etc.), you can easily translate them into the role of an online coach.
Once you are ready to start, you should create your own website. And if you love the idea of making videos, you should think about setting up your own YouTube channel. Not only can you find clients through it, but you can also create your own online fitness training programs to sell to your followers.