Making money at home and ditching the 9-5 job is a dream for many people. There’s an increasing number of ways to achieve this goal if you set your mind to it.
Here are four ways to do so that still work successfully in 2020.
Launch a Membership Site
If you already have a following online or you’re willing to promote using pay-per-click advertising, the launch of a membership site is a great way to make reliable money.
Membership sites can be about a whole host of different topics from investing or freelancing successfully to becoming a travel blogger. The good thing about these sites is that they don’t expressly rely on Google to supply free traffic to the website. If you’ve already got a blog with a following and/or a mailing list in place with plenty of subscribers, then selling the membership site is easier than when you’re beginning from scratch.
Develop a YouTube Channel
There’s money to be made by developing one or more YouTube channels. They don’t usually grow very quickly but tend to have a growth pattern where they pick up speed over time and accelerate faster and faster.
The trick is to pick a range of topics that are popular and you have some expertise in already. This builds trust through demonstrated ability. Publishing regularly is very important; several times a week is useful for a loyal audience. Search for popular topics on YouTube around the niche to find new things to talk about that can get a good number of views.
Money is earned through advertising and affiliate links in the description of your videos. If you get some viewers through to your website and they become subscribers, even better.
Freelance writing has become a popular way to earn money at home. That continues to be the case, but the competition has been increasing. Using sites like UpWork.com, it’s a race to the bottom with pricing unless you can demonstrate a strong ability to produce compelling content. Even then, it will take months to get a highly rated account where you’re able to boost your rates and still get clients. So, what do you do in the meantime?
Even if you’ve had poor credit in the past, you can still access cash. Build up cash reserves where possible, but if you run out of money and you need some extra to pay the rent, take out a short-term loan to tide you over. Taking out bad credit payday loans is one way to do this if your credit rating is low. If you’ve been remiss in repaying on time previously but feel you can make the commitment this time, it’s a helpful option.
Buy and Sell Websites
Buying websites from sites like Flippa.com and online brokers like EmpireFlippers.com is a way to acquire existing websites. The goal here is to not pay too much, make improvements or additions, and then flip it for a profit (net of broker’s fees). It’s not unlike the idea of flipping houses but in the digital world.
The trick is to find income-producing websites where clear improvements could be applied to boost their future income. At that point, they’re putting extra money into your pocket and can be sold for a higher valuation.
When considering working from home, plan your money carefully. Not every idea will work, or it could require more time than you anticipated to get the income up by a liveable amount.