Making a passive income through the internet whilst staying at home is everyone’s dream, but seems almost impossible for so many reasons. Luckily for you, I’ve compiled 7 (in no particular order) of the best, most tried and tested methods to make money from home online!
Let’s jump right into it with…
Make money from home online method no.1: eBay
You might have been expecting something a little more…exciting, but eBay is a resource that can’t just be skipped over. With 23 million unique visitors monthly, there is huge potential for earning through the classic ‘sell your old things’ platform.
I would suggest that instead of relying on eBay for a consistent income, you use it to earn enough cash to kickstart your foray into one of the other methods listed.
For example, you could invest the money you earn through eBay into stocks and shares rather than your personal money.
Make money from home online method no.2: Surveys
I’m not promising that you are going to be raking in the hundreds with this, but surveys are definitely a great way of earning an extra spare £20-30 monthly, if you do it right.
I personally made an extra £20 last month through surveys. Nothing that will shake your world, but enough to justify spending a few minutes every day checking in on them.
Unfortunately, a lot of the online survey services are, to put it plainly, scams.
A lot of the time, you can spend around 30 minutes filling out a survey only for it to close unexpectedly with a message like ‘sorry, we already have enough participants with similar profiles. Thank you for your interest.’ with nothing to show for all your hard work.
The good news is that there are some genuine survey sites; I would recommend Ipsos i-Say.
You get notified via email whenever a new survey is available, and unlike other sites, Ipsos reward you proportionately even if it doesn’t let you complete the survey (meaning you sometimes get paid for about a minute’s work).
Make money from home online method no.3: Start a blog
Sure, blogging might be overdone, but that doesn’t mean that there’s no chance to make money from it, especially if you are smart about it. I would recommend starting out on a free domain with a free website hoster so you aren’t risking the initial investment.
From there, it is simply a case of regularly creating content, interacting with visitors, gaining traffic and eventually monetizing your site. It might sound simple, but this method is realistically only going to work out for those with high patience and the ability to keep on grafting, even if they are seeing little success.
WordPress, Wix, and Wealthy Affiliate are good places to start out with website creation.
Make money from home online method no.4: Dropshipping
I must admit, I didn’t know what dropshipping was until very recently, but it definitely looks like it is on the rise so I would recommend starting now before it becomes too popular.
What is dropshipping?
The process goes something like this:
– You own an online store, and list items at any price. Let’s say you’re selling a football for £10
– A customer buys the football from your online store.
– You forward the customer’s order to a wholeseller who manufactures the footballs, using the customer’s money to pay for shipping and pay the wholeseller. Let’s say the wholeseller charges you £3
– The wholeseller ships the item to the customer
– You make the profit (£7 in this case)
Now this is only a basic example, but it definitely highlights the possibilities of dropshipping; the sky really is the limit.
Make money from home online method no.5: Affiliate Marketing
Affiliate marketing involves 3 people. The producer of a product, the customer or buyer of it, and you. You act as the middle man; you advertise and market the product to potential buyers, and when somebody pays for it you receive a portion of the sale (often as high as 50 or 60 percent).
Affiliate marketing is similar to dropshipping in that it has become a lot more popular with would be entrepreneurs in the last few years, and so as a result there are hundreds of websites and companies claiming to be THE place to begin with affiliate marketing.
I would personally recommend Wealthy Affiliate; you can create an account and receive training, a website and access to an online community of affiliate marketers for free, although the option of an upgrade is there.
Make money from home online method no.6: The Stock Market
Now I’m not going to pretend I completely understand how this one works, because I don’t.
The basic idea is that you buy shares in companies while they are low in price, and sell them once they are worth a lot more.
What is clear to me is the potential to earn a lot of money from the correct investments and trades on this platform. I would recommend that you start off by reading as much as you can about the stock market; make sure you don’t pay for any training yet.
Use YouTube, free online resources like PDFs, websites dedicated to investment, and even talk to people in person if you know anyone who currently owns shares.
Make money from home online method no.7: Savings accounts
Okay, this one is not quite as ‘online’ as the others, but saving money is one of the oldest and most used ways of cultivating your income in human history.
You could open a savings account and let money grow through interest, or use a company that invests your savings for you so they grow even more.
Alternatively, you could try something like Moneybox. This in a free app you can download on your phone that connects with your card. Every time you buy something that isn’t completely at the nearest pound (e.g £19.99), Moneybox rounds up the payment to the nearest pound and invests the change (1p in this case) automatically.
It is a great way to save and earn without even noticing the loss! Highly recommended.
I hope you enjoyed this article and now have a couple more ideas on how you might start creating a passive income online! If you have any feedback, comments or questions, feel free to leave them below!