There are many ways to make money without having a conventional job; here are five of the most popular at the moment.
- SET UP A BLOG
Starting a blog tends to require very little money and can be as simple as “drag and drop” with modern WYSIWYG applications such as Wix and WordPress.
The way people make money from having a blog tends to be through advertising revenue or affiliate revenue (where they recommend other products and get compensated by the company if a user goes on to buy as a result of clicking their referral link).
The other possibility is to create an online course that you sell to your readers, or you could sell via a platform such as Udemy… as unlike a job, once this asset has been created, you can generate passive income – for each time you make a sale you get a commission on something you have already created.
- PROPERTY INVESTING
Property investing can be a great way to make money, indeed, it’s one of the most reliable ways to become financially free. However, it tends to require upfront capital in order to make a profit – which is what restricts many would be property developers.
- PLAY THE STOCK MARKET
Admittedly, the stock market can go up and down, meaning you can gain and lose money trading, but with so many lucrative opportunities found within areas such as cryptocurrency and FX trading, this really is something you should look into; particularly given sites such as FX-List.com can help you map out a strong strategy and offer advice on the best trades to make.
- SELL T-SHIRTS
Today, people are selling t-shirts online and making thousands of dollars in passive income, simply from running targeted ad campaigns on platforms such as Facebook.
You can leverage a platform such as TeeSpring which is a free site, then you simply use their interface to create the design of a unique t-shirt, set some sales goals and a sales price, then go out and advertise the t-shirt (pre-production) and if it reaches the minimum sales goal the company (TeeSpring) will manufacture and deliver the t-shirt, paying you a royalty commission on each sale.
Presuming you know how to use Facebook Ads and have some basic design skills, you can be very successful with this concept – and the great thing is that it runs on autopilot, meaning, you can sell 50 or 500 t-shirts and it’s practically the same amount of effort; yet the rewards differ hugely. Similarly, if you happen to create a t-shirt design that people love – you could end up selling hundreds if not thousands of units, being paid a royalty on each.
- GET PAID FOR YOUR EXPERTISE
If you have a high level of knowledge about a specific topic then you can charge for this expertise in the form of consultancy or, as mentioned above, by creating a course and selling this course for a premium. Platforms such as JustAnswer can be helpful when getting started, as the most challenging aspect of making money from your knowledge is finding people to pay for it, in the first place.