How You Can Start Making Money From Home
This is a collaborative post
It’s estimated that there are now more than 4.7 million workers in the gig economy, many of whom operate in this space in order to generate a secondary income.
This highlights an interesting trend in the UK and indeed across the developed and developing world, as a growing number of people look to boost their earnings to cope with the rising cost of living.
This trend has certainly been exacerbated by the coronavirus, which has stripped people of their jobs and triggered gas price hikes and supply chain bottlenecks across the globe. However, what are the best ways of making money from home and how can you make them work for you?
We’ve already touched on the rise of the gig economy, with freelancers increasing in demand as employers look to create more agile and remote workforces that are tailored to suit the needs of each individual project.
What’s more, there are some jobs that benefit from particularly high levels of demand in the digital age, including copywriting, web design and SEO services.
So, you’ll need to target a niche and look to leverage (or learn) a relevant skillset, while successfully marketing yourself online and utilising sites such as LinkedIn.
If there’s one potential issue with freelancing, it’s the fact that this can be a time-consuming pass-time that requires considerable management and scheduling.
This issue can be solved through forex trading, which can create a largely passive income stream once you’ve learned the trade, developed some strategies and deployed these successfully.
You can also download the MT4 for Mac to seamlessly access the market while working with a compatible broker that allows considerable amounts of leverage (enabling you to control potentially large positions with a relatively small cash deposit).
This can be highly rewarding over time, you’ll need to acknowledge the evident risk and the fact that up to 70% of forex traders lose money consistently over time.
#3. Buy and Sell Items Online
The eCommerce marketplace represents huge business in the UK and around the world, creating immense opportunities for individuals to make money from home by profiting from the buying and selling of goods.
For example, you can use eBay and Amazon accounts to list unwanted items for sale, identifying which of your discarded items have value and establishing viable pricing that makes you competitive in real-time.
You could also look to participate in dropshipping. This requires you to identify items that are in-demand online and likely to sell quickly, before identifying suppliers and buying these in bulk at wholesale prices.
Then, you can resell these quickly at their retail price, banking the margin as profit and boosting your earrings through the volume of sales that you’re able to complete.