It’s easy to handle your budget when your income exceeds your expenses. So, the quickest way to handle your budgeting problems would be to start earning more. However, how does one do that? In the internet age, this shouldn’t be an issue. To show you why, here are the top 10 online tricks to quickly improve your financial situation.
1. Create intellectual property
You no longer need to buy rental properties to create a financial income. Instead, you can spend some time creating intellectual property.
For instance, a royalty for a self-published book on Amazon KDP will earn you 65% of the total value of the story. With 30-40 stories, you can easily have a solid income stream.
Photos on stock photo sites can earn you as little as $0.10; however, you’ll earn a solid amount when you upload them and wait long enough.
Starting a Patreon page so those who like your content can support you is a massive boon to your integrity and independence as a creator. It will diversify your revenue streams so that you no longer fear monetization as much.
2. Do paid surveys
Paid surveys are amazing; however, they don’t bring in as much money as you expect. While some guides suggest that you can make $300 in an hour, it’s more likely that you’ll make a few hundred per year.
The thing is that these surveys are not as easy to qualify for, they take quite a bit of time (usually 20 minutes and more), and they disqualify you if you give random answers. So, you have to put in the work. Also, the availability of paid surveys is not great, and you must accumulate enough money to cash out.
So, why should you do this (given everything we’ve listed in the previous passage)? The thing is that they are a great thing to do during breaks from work while sitting on the toilet, etc. It’s just one of those things that doesn’t take too much effort and slightly supplement your income.
3. Invest in crypto
If you find the right crypto, you can potentially invest a small amount of money and see the profits skyrocket over the next few years. The reason behind this is the volatility of the crypto market, as well as the fact that the industry is still relatively new (which allows for an early adoption).
This doesn’t have to be expensive. In February 2011, Bitcoin was $1 each. If you bought in at that point and sold in November 2021, you would gain almost seven million percent. Will something like this happen again in the future? Probably! Are you going to recognize it? Probably not, but you could make money on a similar trend.
You don’t have to overextend. You can just spend some pocket change on some new tokens or find a guide on how you can earn free crypto and get a few coins, just in case.
4. Lend money on P2P platforms
If you have the money you want to invest but don’t like buying a different asset, you can find a P2P platform and lend the money. As a lender, just type in your basic lending parameters and have the platform match you with the ideal borrower.
To ensure that your investment is safe, you want to spend enough time studying borrower listings. Also, diversify your investments – don’t lend it all to one person. Sure, it may seem easier, but this scenario has a serious potential to backfire.
5. Find a gig
We live in a world of gig economy. If you can’t commit to a new part-time job, it’s probably best to check for interesting gigs. This is a great thing because it’s a one-time project, which means that once you’re done, you’re done.
Remember that if you like these gigs, you can scale them up. For a lot of people, this can be a sort of fence. This way, they’ll be able to see if they can see themselves doing this particular task.
For those who want something that takes less time and represents an even smaller commitment, there’s always the concept of performing microtasks. For this, you would have to find a microtask platform, sign up and find a myriad of small tasks that you can complete for immediate pay.
6. Affiliate marketing
If you have any kind of online presence, whether you have a strong social media following, a website, or a blog, you could try affiliate marketing.
Here, you can associate yourself with a platform or a service and agree to promote them. You’ll get a personalized link that you can share with your audience. Every time someone uses your link, you’ll earn a bit of this profit.
The downside of this idea is obvious – building up an online presence is not easy. Now, there are many motivators for you to increase your online presence. When you manage to do this, you’ll get affiliate marketing to diversify your income.
7. Online game testing
Large studios usually have a huge following for their previous games. This means that people are eager to participate in the alpha or beta stage of their video game. The problem is that smaller studios and new franchises don’t have this head start.
So, they offer you to test games for financial compensation. Sure, this compensation is not that great, but it doesn’t defeat the fact that you’re still getting paid to play video games. How crazy is that?
Also, remember that these are not AAA games or something you would likely play in your free time. These are mostly mobile games designed to monetize in-game purchases on a pay-to-win principle. Some, on the other hand, serve a noble purpose.
8. Freelancing
While the gig economy is great, sometimes you want a more stable income; however, you still don’t feel comfortable committing to a full-time job (or a part-time job) in a conventional sense. This is why freelancing is so amazing.
If you have an applicable skill and any previous work experience, you shouldn’t have difficulty finding work on platforms like Fiverr or Upwork. Sure, the platforms take a part of your profit, but seeing how they help you find work, their fee is more than earned.
Also, freelancing can be a great way for you to find your future career. Try doing something else and see how you like it. This also gives you a way to acquire more experience.
9. Try day trading
The thing about online trading is that your buy-in doesn’t have to be that expensive. Sure, people spend hundreds of thousands of dollars on day trading; this doesn’t have to be true in your case.
All you have to do is:
- Find a suitable platform
- Register
- Deposit money into your account
- Learn how the trading works
- Start trading
Remember that there’s more to trading than meets the eye at first. Starting is easy, but being successful takes time and effort. This is why you might want to do some research. Read a few guides and try to find out something about different trading strategies.
10.Online tutoring
If you have a skill you believe you can monetize, there’s nothing wrong with finding a student or two.
Now, some would put this into a freelancing category because they envision a person working for an agency, receiving a couple of students per day. This is not the way things are supposed to go. You can find a client (a few or just one). The thing is that you can find as many students as you believe you can handle.
Remember that this is a growing field; the sooner you get in, the better.
With so many options out there, diversifying your income should be incredibly easy
As you can see, there are many ways to make money online. It all comes down to how much time you have and how much you’re willing to commit.
One last thing we have to warn you of. While individually, each point doesn’t take much time; it’s easy to lose track of time. Soon, you’ll work far more than you were originally comfortable with. Money isn’t everything, but if you’re itching to start earning some serious dough, you can try more than a few methods out there.
