Looking to Earn Some Extra Money? Try These Methods
In times of financial instability and uncertainty, more and more people turn to alternative methods of earning. After all, thanks to the ever-growing technology sector, the landscape is ripe with numerous intriguing opportunities to either add a few extra bucks to your monthly income or consider a major shift in your career entirely.
In this post, we'll cover some currently trending options for earning some extra money.
1. Passive income apps
There are apps and companies that help you earn money while doing basically nothing.
You can invest in stocks or real estate, you can earn money while walking, or you can share your internet connection.
Plynk and Fundrise are investment apps that teach you how to invest your money in stocks (for as little as $1) or real estate (for $10) in simple language understandable to anyone.
As with everything new, it might be challenging at first, but the more you learn, the more you earn.
Sweatcoin earns you money while you walk – the more steps you have, the more coins you will earn and then you can exchange those coins for discounts or give them to charity.
Honeygain is a passive earning app that lets you earn while basically lending your internet to others. This is a pretty new concept and one-of-a-kind app that’s definitely worth trying out.
2. Sell stock photos and images
If you’re an artist or photographer, selling your work as stock photos can be a great way to generate passive income.
Stock photos are used for websites, social media posts, ads, etc., and there is a huge demand for them.
You can sell your work through sites like Shutterstock or iStockphoto and you earn 20% - 30% of every sale you make, and if you already take photos and have some that you know you won’t be using, why not try and sell them!
And if you find your niche – you might even find customers who’ll keep coming back.
3. Sell your knowledge
One of the best ways to earn passive income is by selling your knowledge.
A lot of people are ready to pay for advice and information that can help them succeed in their career or personal life and if you have the knowledge they need, why not share it with them?
In order to make this work, you need to make sure that:
- You're qualified enough to give advice on whatever topic you choose
- You have a good reputation
- You have time to respond and answer questions
At first, you will need to put a lot of time and effort into building your platform and becoming a recognizable and trusted figure in your field, but once that is done, you can easily film a course and then send that same course hundreds of times and earn money with ease.
4. Start streaming on Twitch
If you like playing games and you’re good at it, why not start earning from your hobby?
Of course, as with any other passive income system, you would have to invest some time, effort and possibly money at first, but once you get the hang of it, your income will increase noticeably.
What you would want to do is create a Twitch channel and the next time you sit to play your favorite game, just turn on the camera and start streaming.
It will be difficult at first, sure, but if you take some time and learn how to grow on Twitch, the donations will start coming in while you’re doing what you normally would – gaming.
5. Affiliate marketing
Affiliate marketing is an easy way to earn passive income. You simply promote a product or service and get paid when someone buys it through your link.
Bear in mind that if you have already built an audience that trusts you and then you start recommending products that are of low quality just to earn a few extra bucks, your audience will lose their trust in you and you won’t be able to earn anything anymore.
So the best thing is to contact a company whose products you like and use and see if you can make a deal with them.
Conclusion
While passive income isn't for everyone, it's still worth exploring. But if you can start earning money without having to do any work, why not giving it a shot?
There are different fields in which you can earn, so you can always experiment with different methods, mix and match, and find your preferred way of earning extra.
This article was written in cooperation with Janice Quickley