6 Realistic Ways to Make an Extra Income Online

An employee satisfied with their salary is difficult to find. Even the ones from the “overpaid” category are still dissatisfied with their earnings. The truth is that there is always some reason to spend additional money, regardless of your material status. You might want to travel, save money for a house, or something else.

If what you get at the end of the month isn’t enough for your plans, you probably need an additional source of cash. Fortunately, these days it’s not that difficult to earn extra, and there are numerous online resources you can use to get that extra buck. Here are some of the top ways to try out in 2020.

Affiliate marketing

Affiliate marketing enables you to earn extra income while taking very little of your time and requiring no particular skills. It is a job of promoting brands or retail products online. You can also earn a commission from sales. Focusing on content marketing is your best bet because it gives you the chance to create your own asset and use it for getting new affiliate programs.

The majority of people in the affiliate marketing business claim to make between 5% and 20% of their annual income from this job. Of course, the more experience you have, the more chances there are to increase your revenue.

Day trading

This one is a bit more complicated than affiliate marketing, but it can also help you earn more. Since this is a job that can be very challenging for novices, it also requires some time to master. You can do that by reading available online resources or taking an Udemy course.

There is also the issue of capitalization. You will need a minimum of $1.000 to get started. The variety of available markets for trading, including Stocks, Futures, and Forex, provides you with a lot of growth opportunities. After some time, you can even start day trading as a full-time job if you get comfortable with it.

Host a podcast or a YouTube channel

More than 30% of Americans listen to podcasts every month, and more than 70% of adult Americans use YouTube. Both of the markets are continually growing, and if you do have some expertise, a topic you would like to discuss, or even just great conversational skills, this could be your niche. Both require serious work and commitment, and before you start making any actual money, you will need to build your audience. Later, you can monetize it with sponsorships and ads.

Teach an online course

People today are constantly seeking opportunities to gain new knowledge. You can use that to your benefit if you have a skill or expertise that can help others. Online course platforms such as Teachable and Thinkific allow you to publish your online course about anything useful. There are plenty of things people want to learn, including doing their own taxes, foreign language, acting, singing, playing the guitar, photography, writing, etc. When the course launches, your students will pay you, and you will be able to build a stable income.

Write, transcribe, and publish

Back in the day, it was difficult to do any kind of writing and let alone get your work published if you are not a professional journalist or an author with a publisher having your back. But that has all changed with the abundance of online platforms.

Writing articles can be fun and even easy if you are particularly interested in the topic. You can start by writing guest posts on other people’s blogs and then move on up to platforms like ProBlogger. Later, when you make a name for yourself, you can start your own website. If you are interested in writing novels, research articles, essays, etc. you can use Amazon Kindle Direct Publishing to publish and sell your work.

If you are wondering how far you can go with this, just remember that “The Martian,” which was later adapted into a hit blockbuster, was originally a self-published novel. Finally, if all of this is too much of a fuss for you, you can always transcribe audio and video files for others.

Use your digital skills

The digital world requires digital skills – and it pays really well for them, too. Coding skills, in particular, are highly valued, and it is hard to keep up with such a job demand. That’s why it’s easy to find an online job regardless of whether you are self-taught or formally educated. The possibilities span from maintaining chatbots to coding apps. You can build a piece of software and sell it. Also, you can test codes or do graphic design.

Bottom line

These were just some of the options available to people who want to earn money on the side in 2020. The key lies in finding your unique skill and selling point, and then learn how to market and sell it online. Who knows – maybe one day, your passion becomes your permanent career choice.