Many believe that the ‘Gig Economy’ – the opportunity to work and earn an income from home, will play a major role in the future of employment. However, while earning cash from home is the dream for many, it is a reality for few. The good news for you is that there are now heaps of way to earn an income from home.
Whether you are looking to make a bit of extra cash alongside your regular job, or earn a fully-fledged full-time income, there are lots and lots of options for you to explore.
With that being said, we’ve created the ultimate list of things that you can do from home to earn an income. While we appreciate some of these tips might not be suitable for everyone, we are confident that you’ll find something of interest.
The key point is that you will need to work extremely hard to set yourself up with a gig that will allow you to make money from home, so you need to make sure that you’re prepared to put the hours in! By the way, if you’ve got a certain target in mind, we’ve also created 15 ways to make $100 per day, and even $1,000 per day!
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1. Become a freelance writer
The internet is jam-packed with billions, if not trillions of articles, blogs, guides and other pieces of text. In fact, you’re here reading this guide, aren’t you? This means that there are significant opportunities to earn money from home as a freelance writer. The most challenging part is finding clients that are willing to pay you money to write for them. However, if you have knowledge in a particular area, this gives you a massive advantage over other writers.
The amount of money that you will be able to earn will depend on a range of factors, such as your writing abilities, how well you know a particular subject, how much you are able to write, and what rates you charge your clients. However, it is not uncommon for full-time freelance writers to earn surplus of $8,000 per month.
In order to achieve this, you need to put some serious hours into client-hunting. You can do this via online freelancer platforms like Upwork, through regular online job boards, or even by emailing companies directly.
Pros and cons of becoming a freelance writer
- No qualifications required (although this is an advantage)
- No experience required
- Write about subjects you are passionate about
- Can be done both part-time and full-time
- High earning potential
- Very competitive marketplace – helps if you have knowledge in a niche subject
2. Learn a high-demand, low-supply skill and sell it online
The key to making money from home is to offer a service that that is in high-demand, but at the same time, in very low-supply. In order to achieve this, you will need to think about what areas of expertise are currently being demanded by employers worldwide. For example, think along the lines of artificial intelligence, blockchain technology, machine learning, and robotic process automation.
Once you’ve found a niche, you then need to read, read, and read! What we mean by this is spend as much time as humanly possible learning the required knowledge in the niche so that you can start selling your skills. As soon as you’ve mastered the subject, or at least semi-mastered it, you can begin exploring freelance opportunities that will allow you to charge high rates for your service.
If you want to take things to the next level, you might even consider getting certified in your chosen subject area. It’s well worth checking out platforms like Coursera to explore what online courses you can engage in to get the skills you need.
Pros and cons of learning a high-demand, low supply skill set
- Earn a very high income
- Lots of earning options available
- Your skills will be in high-demand
- The competition will be super low
- Can be done both part-time and full-time
- Can take time to learn the subject before you are ready to sell it online
3. Invest in the stock markets
Did you know that since 1926, the S&P 500 (which is the largest 500 publicly listed US companies ) has averaged a yearly increase of 10%? Sure, the stock markets will always rise and fall, but long-term, they have always made money. So, if you’re looking to earn a bit of extra income from home, why not consider investing some money in the stock markets?
In reality, you don’t need any experience at all, especially if you are happy to invest in stock market indices like the S&P 500 or Dow Jones. All you need to do is open an account with an online stock broker like eToro, deposit some funds, choose which stock market index you want to invest in, and that’s it!
Although there is never any guarantee that you will make money, your best chance of seeing your cash grow is to let it settle long-term. In fact, you should refrain from selling your investment for at least 5 years. This way, you stand a much better chance of riding the market waves.
Pros and cons of investing in the stock markets
- No knowledge required if you invest in stock market indices
- Earn passive incomes – no need to actively manage your investments if you hold long-term
- Get started with a minimum investment of just $200
- Earn profits alongside your usual day-to-day job
- Not risk-free – you always stand the chance of losing money
- Past performance is not an indicator of future returns
- You need to make a considerable investment to earn enough for a full-time wage
4. Start an affiliate website
For those unaware, an affiliate website is where you promote other people's products and services. Everything time somebody clicks on one of your affiliate links, and subsequently makes a purchase, the company will pay you an affiliate fee.
This is an ingenious way of earning an income from home, as in reality, you don't need to make an initial investment. Moreover, you don't need to worry about buying and storing stock, as the companies you are promoting will take care of that directly with the customer.
Another great thing about starting an affiliate website is that you can do it in virtually anything. Whether its travel, finance, law, or clothing, you can do something that you are passionate about.
In order to get started, you will first need to build a website, and then sign-up to some affiliate programs. If you want a direct shortcut, you should consider using a platform like ClickFunnels, who provide a super-easy gateway to creating a same-day affiliate website!
Pros and cons of starting an affiliate website
- Earn passive income
- Little to no investment required
- Build your income as more and more people visit your site
- Can be achieved 100% from home
- No need to buy or store stock
- The initial process of building your online exposure can take time
- Very, very competitive field
5. Earn monthly income with a real estate investment
Real estate investing is one of the safest, and in some cases, most lucrative ways to earn an income from home. The great news is that you don’t actually need to buy a property outright to earn money from real estate. Instead, you can now use a peer-to-peer lending platform.
In a nutshell, peer-to-peer property platforms allow you to invest in properties with other online users. Your money is collectively pooled together, meaning you can usually get started with an investment of just $1,000.
Much like in the case of a real-world real estate investment, the property will be rented out, meaning you will receive your share of the monthly rental payments. Not only this, but you will also get to see the value of the property rise over time, so when it’s sold, you’ll make a profit.
Pros and cons of investing in real estate
- Earn monthly income via rent payments
- Peer-to-peer platforms allow you to get involved with smaller amounts
- Diversify across multiple properties
- Enjoy long-term growth as the value of the property increases over time
- No experience needed
- You will need to make an investment
- Your original investment will be tied-up until the property is sold
6. Teach English Online
Do you like the sound of teaching English online, from the comfort of your own home? If so, you’re in luck, as there are some significant opportunities out there. Whether its teaching elementary English to a 7-year old in China, intermediate English to a teenager in Peru, or Business English to a CEO in Russia, the options are plentiful.
Now, in the vast majority of cases, you will need to be a native English speaker. That means you’ll need to come from the US, UK, Ireland, South Africa, Australia, Canada, or New Zealand. You might also need to possess a TEFL (Teaching English as a Foreign Language) certificate, although this can easily be obtained via a 100-hour online course.
In terms of how much you can make, this will vary greatly depending on the institution to teach through, your qualifications, and of course, how many hours you decide to work. However, you should expect to earn anywhere between $10-$20 per hour teaching online.
Pros and cons teaching English online
- Earn between $10-$20 per hour from home
- The only equipment you need is a fast internet connection, a decent camera/microphone
- Teach part-time or full-time
- Experience isn’t always required
- Obtain the required TEFL qualification online
- You will ordinarily need to be a native English speaker
- Higher salaries for those with more prestigious qualifications
7. Bitcoin Mining
OK, so this option is a bit out of the ordinary, however, Bitcoin mining is a method utilized by many who want to earn a bit of extra income from home. While you certainly won’t be able to quit your day job, mining is a good option to make some extra passive income on the side.
So what is it? Well, you essentially buy a specialist piece of hardware such as those sold by Bitman, plug it into your computer, and then contribute your computing processing power to help confirm Bitcoin transactions. As the industry is now dominated by large players, you are probably best off joining a mining pool. This is where you pool your computing riesources with other users, and thus, share the profits.
You make money when your device confirms a transaction on the Bitcoin network. Just be warned, Bitcoin mining can consume a significant amount of electricity, so don’t be surprised when you see your monthly bill shoot up!
Pros and cons mining Bitcoin
- Earn passive income
- Once you are set-up, no need to do anything
- Get involved in a cutting-edge industry
- You also have the option of letting your Bitcoin earnings grow in value over time
- Do it all from home
- You will need to buy specialist hardware
- Earnings will be small, albeit, passive
- Need some understanding of how Bitcoin works
8. Take online surveys
Did you know that there are companies out there that will pay you money in exchange for your opinion? That’s right, you can easily make a bit of extra money from home by undertaking online surveys. Arguably, you won’t make enough to quit your day job, but online surveys are one of the easiest ways to generate income.
You will need to go through a third-party platform like SurveyMonkey to get started. Once you register an account, you will then need to answer some questions about your personal circumstances. This will include metrics relating to your age, location, income, and personal interests. Once the platform is able to build a profile, they can then match you to relevant surveys.
The amount that you can earn will vary wildly depending on the survey platform, and the type of survey you are taking. However, you shouldn’t expect to make more than a few dollars per survey. What you can do to increase your earnings is to sign up with multiple survey platforms.
Pros and cons of taking online surveys
- No experience, skills or knowledge required
- No right or wrong answers – you are paid for your opinion
- Anyone can do it
- Get set-up in minutes
- Do it whenever you have spare time
- Earnings are low
9. Buy an online business
If you’re really serious about making the transition from the office to a life of earning from home, why don’t you consider buying an online business? The it works is you would be required to make an investment by buying an already-established online business.
In the vast majority of cases, the business will already be generating income, subsequently allowing you to start getting a return on your investment straight away. However, at the same time, you won’t just be able to sit back and enjoy the profits, as you will be expected to run the online business as you would with any other venture.
In terms of the types of businesses you would be buying, this can come in a range of different forms. One of the most popular is that of online blogs that have a significant reader-base, and thus, money is usually generated in the form of advertising revenue or affiliate links. Either way, you will be required to stump-up anywhere from a couple of thousand of dollars, all the way up to $100,000-plus. This will, of course, depend on the standing of the business you buy.
A great resource to get started is to browse through an online business marketplace such as Exchange Marketplace.
Pros and cons of buying an online business
- Buy an already-established business
- Earn income from day-one
- Improve the business by running it the way you think is best
- Enter an industry that you are passionate about
- High-risk, as there is never any guarantee that you will be able to sustain the current revenue flows
- You need to know what you are doing
- Can require a substantial upfront investment
10. Become a virtual assistance
If you like the sound of working from home full-time, but you don’t want to go out and learn a high-demand, low-supply skill, then why not become a virtual assistant? As the same suggests, you will be providing your clients with assistance on a virtual basis. This could be anything from answering telephones, responding to emails, or booking appointments – all of which will be done via your laptop or desktop device.
As the work you will be performing is typically considered to be low-skilled, you won’t be able to earn as much as say, a a web developer, but, working from home isn’t just about the money. It’s also about the freedom of working away from the 9-5 grind, and ultimately, being your own boss.
In order to get started, you will, of course, need to find some clients. The internet is full of third-party platforms that can help match you up with those in need. One such avenue for this is the Freelancer.com platform, which lists a full host of job offerings for you to consider.
Pros and cons being a virtual assistant
- Anybody can do it
- Ability to work from home full-time
- Higher demand if you are a native English speaker (but not necessary)
- Work your own hours
- Work when away from home via your laptop
- Very competitive marketplace
11. Start a YouTube channel
Whether you like to sing, create music videos, or record video explainers, YouTube can be an excellent way to earn extra income from home. You will need to build up a significant subscriber base, which can take at least a year. However, once you do, you stand the chance of making some decent money through ads and in-video promotion.
Pros and cons starting a YouTube channel
- Post videos on something you are passionate about
- Start-up costs are next to nothing
- Increase your fan base over time
- Earn money via ads placed on your videos
- Takes at least a year to build up a significant following
12. Review products online
Much like in the case of taking online surveys, companies will pay you money to review products online. The likes of SwagBucks is an excellent platform to join, as you have access to heaps of products to review. You won’t get rich doing reviews, but you can certainly make a bit of money of the side when you have some spare time.
Pros and cons of reviewing products online
- No experience needed
- Anybody can do it
- Earn money in your spare time
- Get started straight away
- Earnings are very small
13. Write an eBook
Do you have knowledge in a particular subject, or are you passionate about something you think others might want to hear? If so, why not consider writing an eBook. You can then sell your eBook via the Amazon website, which is really easy to set up. The amount you charge for your eBook will depend on a number of factors, although this is usually between $0.99 and $10.
Pros and cons of writing an eBook
- Great if you enjoy writing
- Write about something you are passionate about
- Work at your own pace
- Easy to sell through Amazon
- Can take a significant amount of time to write
- No guarantees that people will buy your eBook
14. Become an online translator
Are you able to speak more than one language at a reasonably good level? If so, there are heaps of translation opportunities out there for you. You might find yourself translating audio recordings, or simply translating pieces of text. If you’re able to find the right clients, you should be able to command between $30-$50 per hour. A good starting point is to check out Upwork to see what client requirements are currently listed.
Pros and cons of online translating
- Perfect if you speak more than one language
- Earn up to $50 per hour
- Lots of opportunities online
- Work your own hours
- Need to build up your client base
15. Transcribe audio into text
There is a huge requirement online from clients that need audio recordings transcribed into text documents. Although anybody can do it, you will at the very least need to be a fast typer to make it viable. In terms of earnings, this can average between $4 and $15 per hour. Once again, the amount that you can earn will be dependent on how quickly you can type!
Pros and cons of transcribing audio
- No skills and qualifications needed
- Lots of requirements online
- Work to your own schedule
- Opportunity to work full-time
- Your earning potential will be dependent on how quickly you can type
The bottom line
In summary, there are so many opportunities available online that will allow you to earn an income from home. While some will require a particular skill, others can be done by anyone. You also have the option of combining two or more of the above tips to further increase your income. For example, why not take surveys and write online product reviews?
Ultimately, while working from home is a dream for many, in order to make it a reality you will really need to put in the groundwork.
How much can I make working from home?
This will ultimately depend on the type of work you choose to do, and how many hours per week you are able to commit to.
What is the easiest way to starting making money from home today?
If you want to get the ball rolling today, then you can start earning straightaway by taking online surveys and writing product reviews.
What course should I take to increase my earnings?
Firstly, find a high-demand, low-supply skill like artificial intelligence or blockchain development, as these will be very high paying jobs. Once you have, find an online course to build your knowledge in the subject.
What full-time work-from-home job can I do with no skills?
There are lots of options. For example, you might decide to become a virtual assistant, or even an audio transcriber.