You can deny it all you want but the truth is that the economy is collapsing. The unemployment rate is at an all-time high with close to 40 million Americans seeking jobless aid.
Coronavirus has forced millions of Americans to stay home as businesses remain shut. While states have gradually started to resume work, the fact remains that it is still unsafe to go out since the danger is still there. Employers need to know more about crisis management and employees need to find reliable ways to earn money.
The good thing about staying home is that you’ll be safe. Plus, there are ways to make money online – without having to go out or come into contact with anyone else.
Let’s have a look:
#1 Be an Influencer
There are few things as exciting as being an influencer. It gives you the power to change lives and make things better. However, it can take a while to earn money as an influencer.
According to reports, more and more people are now searching the web as they’re stuck at home. This has caused influencers to enjoy more subscribers and videos, i.e: more money.
The key to being a successful influencer lies in knowing what people want. You must come up with the right influencer marketing idea during the pandemic to hit the bull’s eye.
Influencers can make anywhere between$500 to $5,000 per month. You will, however, need a decent number of followers to make a mark. If you’re new to social media or if you do not know how to handle followers then this may not be a suitable option for you.
#2 Start Selling Websites
Believe it or not, you can make money buying and selling websites. The industry is huge and offers tremendous opportunities since people are always looking to invest in websites with potential.
Creating a new website and making it worth it can take a lot of time, hence stick to this option if you already own a website.
In addition to websites, you can also sell social media profiles with a decent number of followers. A profile with 50,000 followers can be worth $100.
#3 Try Online Trading
This is a risky business but it’s worth a try. Online trading involves buying and selling stocks, currencies, commodities, and other assets without taking ownership.
The idea is to ‘predict’ the price based on market conditions. You make money if your prediction is right and you lose it if you’re wrong.
Most users choose to trade currencies as the foreign exchange market is the largest financial market out there – worth $5.1 trillion. You can double your money within minutes but there’s also a risk of losing a large part of your investment since the market is highly volatile and unpredictable.
Consider using platforms like Zulutrade if you’re new to trading. It lets users copy successful trades to reduce the risk, hence can be a great option for new traders. Moreover, try your hands at a demo account before using real money.
#4 Work as a Freelancer
More and more companies are looking for remote workers, hence it doesn’t come as a surprise that freelancers are heavily in demand. Whether you’re a lawyer, a writer, a real estate consultant, or a graphics designer, you will have no problem finding work as a freelancer for as long as you’re good at what you do and know how to present your skills.
UpWork is one of the best platforms for freelancers to find work but it can be very difficult to break into due to stringent policies and tough competition. If you’re new to freelancing then choose platforms like Fiverr and Freelancer.
#5 Choose to Be an Affiliate
Affiliate marketing involves selling products manufactured by others and making a commission on each successful sale. Your commission can be as high as 40% depending on your niche and other variable factors.
The industry took a hit in the last few months when major players including Amazon temporarily suspended affiliate programs. However, things are now back in motion.
Check this 5 Tips for Starting a Career as an Affiliate Marketer article if you are starting as an affiliate marketer and want to make money online. It can be a great option for users who have a huge number of followers or visitors.
I hope these simple tips will help you achieve financial independence. These are not only effective during these tough times but can also be turned into reliable side gigs to earn a decent amount of money once things fall back into place.