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Welcome to the year 2020! Quarantines, travel bans, and an economic free-fall because of Coronavirus are making this year a struggle to say the least.
But don’t lose hope, and now more than ever, making money from home is a goal to work on.
Whether for full-time income, or as a side-hustle, making money from home is a great way to improve your financial stability in these rocky times.
It can help take up the slack from if you are losing hours at your everyday job, or add extra income to help meet your future financial goals.
So, what do you need in order to make money from home?
Not much! In most cases, all you need is a computer with internet access and a ton of enthusiasm! The best part is you don’t need money to start.
So, why should you wait?
Here are the 7 best possible ways for you to make money from home in 2020.
Do you have an eagle eye for mistakes?
Are you passionate about grammar, punctuation, and spelling?
If yes, you can be a proofreader. To make money from home as a proof-reader, you just need to read provided content and edit it to make it an error-free publication. So, you need to check documents for typos, spelling and grammatical mistakes, etc.
There are many types of written content you may proofread like novels, textbooks, children’s books, web pages, blog posts, magazines, etc.
Bureau of Labor statistics reveal that proofreaders earn around $36,960 on average for full-time work!
However, the pay and amount of work usually depends on your availability and workload.
Do you love to pen down your thoughts? If yes, writing may be the best way for you to make money from home in 2020.
From big brands to individual bloggers, there are tons of websites out there willing to pay you for writing article content from home.
Or if you are ambitious, you can start your own blog and make even more money!
But make sure to provide amazing content for your readers. You want readers to become engrossed with the article and read through the whole post. The more time readers spend on a post, the lower the bounce rate and the higher the google ranking, making you a more lucrative writer!
So, create blog posts in such a way that no one has to return to the search results page.
But how exactly can you make money from home with your own blog?
There are tons of companies out there that will provide ads you can place on your blog so that you can make money. Google AdSense, Media.net, and Infolinks to name a few. These ad display services will pay you whenever someone clicks on the ad.
The great thing about these companies is they provide ads that not only suit your content, but are also super easy to add to your site.
Your readers will see relevant ads while reading your blog, making it even easier for you to make extra money. All you have to do is copy and paste the code they provide and add it to your site!
If your blog posts get decent traffic, many companies will pay you for writing a post about them.
These are called sponsored posts. You can create a page on your blog to advertise your traffic and rate for sponsored posts.
This makes it easy for advertisers to contact you. Or you can reach out to companies directly, offering them sponsored posts.
Either way, writing sponsored posts is an easy way to make money from home with your own blog.
Another way to make money form home blogging is through affiliate marketing. The concept is simple, basically you are making a commission off selling a product to your readers.
If you mention a company or product in your blog post, and are signed up as an affiliate for that company, then when someone clicks through your dedicated link to the product, you get a commission. Usually you only get that commission if they purchase a product, but in some cases you may get a commission just for providing the lead.
3. Virtual assistant
In an office, you have certainly seen a traditional administrative assistant handling secretarial-type tasks. Likewise, a virtual assistant or simply VA, does the same job but remotely.
As a VA, you get paid to do various online tasks for someone else. Like the name says, the job is completely online. This makes it an ideal work from home job.
The available market for this is huge when you consider the millions of websites and companies out there.
You need to provide administrative and technical assistance to businesses along with completing daily and routine tasks.
And guess what?
You don’t need a college degree to make money as a VA. According to Indeed.com, the average base salary of a virtual assistant in our country is around $16.36 per hour. With time, you can expand your client base and increase your rate as well.
4. Amazon by FULFILLMENT business
I am sure you have heard about eBay, Craigslist, etc. The working principle of this type of business is simple. You have something to sell and find buyers for the products.
But in the case of Amazon’s FBA (Fulfillment by Amazon) program, you don’t need to find buyers. You get to leverage the already huge marketplace of buyers that Amazon has.
A 2019 Statista report reveals that almost 150.6 million people in our country accessed the Amazon app last September. So, you can imagine how much of a market there is for your products in an FBA business, which makes this an ideal way to make money from home.
But what is the working process of an Amazon FBA program?
- You have to source products from retail stores, wholesale, thrift stores, etc.
- List these items on Amazon through your seller account. Most likely, Amazon will take care of the product details and pictures. So, you don’t need to worry and the process is relatively simple.
- You have to set the prices of the products. And ship all the products to Amazon at one time.
- Now, Amazon will find buyers. They will even pack and ship each item and collect the payment. So, your workload is light, making it more of a stress-free way to make money from home. After deducting their fees, Amazon will send you the money twice a month!
As you can see, Amazon’s FBA program could be the perfect side hustle for you. You just need to work for 2 to 3 hours a week and make money from home.
5. Social Media Manager
Do you love to spend time on social media? I know, we all do.
But did you know you can turn that into a way to make money from home? As a social media manager, you can make money from managing social media accounts of businesses, celebrities, etc.
If you work for a company, you will get a monthly paycheck. Ifyou are self-employed,you can charge an hourly, monthly, or per-project rate. Here are a few of the tasks you might do as a social media manager:
- Scheduling content to be posted on various social media platforms
- Analyzing and tracking a particular campaign performance
- Coordinating with influencers to endorse the campaign and enhance the business
How much can you earn working from home as a social media manager?
Payscale statistics show that the average salary of a social media manager in our country is about $15.59 per hour!
That is a pretty good rate to make money from home!
6. Airbnb host
Do you have an extra room? Or, a guest house or finished basement that you aren’t using?
If yes, you can make excellent money from home by renting it out on Airbnb!
Airbnb is an online marketplace that arranges lodging between peeps (like you) who are willing to rent out their spaces and those looking for accommodations.
This is an ideal way to make money from home. Especially since the work required is minimal once you set things up.
Now, you might think that you have to rent your whole house.
If so, then you are wrong, friend!
You can rent out a bedroom or a shared room. Even a room with multiple beds like dorms have.
However, if you are willing to rent out your whole property, you can do that too and make even more. Still, if you are worried about how your guests might act or take care of your things, stay at home while hosting them.
What do you need to do to make money from home with airbnb?
All you need to do is list your space on Airbnb or VRBO. You need to list all the amenities you can provide, like, full kitchen, wifi, private bathroom, etc. Also, mention how close your house is to public transport. The more details you provide, the better your results will be.
I would suggest you put yourself in the position of a guest. What would you look for while searching for a property in Airbnb? Think about it this way and provide the details.
By the way, you can upload max 24 photos of your property. If you are not satisfied with your photography skills, you can apply for a professional photographer through Airbnb’s site. And that is too free of cost!
To set the price of your property, do some research in your area. Find out what would be a suitable price to stay in your property.
You can decide how many days you want to rent out your home. But some states like California, New York, Illinois, etc. residential tenancy is created after 30 days of stay. That means, if your guests refuse to leave, you may have to go through an eviction process.
So, undoubtedly, renting out your home on Airbnb can help you earn money from home. But always remember to check with your local laws before you start.
7. Online tutor
Another way you can make money from home is by becoming an online teacher. You can either work as a tutor for a company, or create your very own online course. Usually, you will need video-conferencing apps like Skype, FaceTime, Google Hangouts, etc.
If you want to create an online course, you can start by registering for free webinars on how to do it. Most of them offer free live training to help you launch your online course.
But if you want to become a tutor, you should have a bachelor’s degree or experience in the relevant field. You can check out companies like Wyzant, Tutor, Course Hero, etc.
Hopefully, with these smart money moves, you will be able to make a decent amount of money from home this year! But I would suggest you select the money-making path that suits your passion.
What do you say?
Don’t forget to let us know your suggestions, if any!