Whether you are looking for a new job or just a decent side-earner, these days there are more options than ever for making money outside of a traditional career path. From online tutoring to blog writing, check out our collection of some of the best ideas for making money from home in 2021.
Dip Into the World of Investing
These days there are several options available to get started in the world of investing with little to no experience and marginal upfront investments, and one of the easiest ways to do this is through mutual funds.
Mutual funds are a way of pooling together funds from several small investors to buy stocks and bonds in a variety of industries. As such, individual investors can quickly get a diversified portfolio with a minimum upfront investment and a single transaction. Some different types of mutual funds include:
Mutual Funds
Mutual funds are run by professional managers, who determine what companies to buy into and sell. They typically involve a wide variety of low-risk companies with a solid financial track record. This can be good from the perspective of the sole investor, as their money is not being used for risky endeavors.
Exchange-Traded Funds (ETFs)
Companies create ETFs by investing in stocks and bonds and then selling shares of the ETF on the market. So, when you buy a share in an ETF you are tracking the return of the investment in the original asset. Some of the best ETFs in Canada will have a diversified portfolio of assets, making them a safer choice for early investors.
Index Funds
Index funds are a type of mutual fund that contain shares of all the companies in a particular market, they are designed to follow certain pre-set rules to mimic the composition and performance of a financial market index.
Setup as a Freelancer
If you have a particular talent or skill, whether it’s work-related or just a hobby, then there is probably a way to make money from it.
Make a list of all the skills that you are proficient in, that you believe could be marketable. These can be things such as copywriting, video editing, marketing, website building and animation.
Narrow it down to what your best at and think about how these skills could help prospective clients. Next, consider the network you already have established and whether anyone you know might be willing to hire you. It only takes a few clients and a few positive referrals to get the ball rolling.
Once you have a direction and a plan of action it is as simple as setting up a platform for yourself. A lot of freelancers start on sites such as Fiverr before building dedicated websites to house their professional portfolios. But wherever you start, so long as you apply yourself and can manage your workload and deadlines, then the sky is the limit.
Create an Online Course
Balancing work and life commitments with study can be tough at the best of times, and over the last year, traditional classroom-based learning has practically become extinct.
Because of the internet, however, studious individuals have been able to keep learning and developing themselves and their prospects through online courses. Learning all manner of skills from public speaking, creativity, IT, and money management.
If you have a particular topic that you have above-average proficiency or knowledge in, then you could create and sell a course on sites such as Udemy and Skillshare.
Before setting out it is important to note that time and care are needed to create a course that efficiently and effectively put across what you want to teach, and if you are just in it for a quick buck then it may be best to explore other options, as bad reviews will sink your course if the content isn’t up to scratch.
Try your Hand at Tutoring
Like creating an online course, if you have valuable knowledge in a particular subject area such as English, science, or maths, but prefer hands on teaching rather than something pre-recorded, then consider applying to become a tutor.
The pandemic has hit the education sector hard, with a lot of school-age children having to learn from home or forgo classes altogether. This has put a great strain on teachers and parents alike, with young learners not getting the support they need.
This has created an unprecedented opportunity for tutors. With the rise of apps such as Zoom, it has become easier than ever to provide one-to-one support to students from the comfort of your own home. The options are plentiful and the earning potential is great, and you’ll be providing a valuable service to young pupils while you’re at it.
Sell Your Arts and Crafts
If you’re a creative type with a skill such as metalwork, sculpting or illustration then making crafts and selling them on sites such as Etsy could be a great opportunity to earn by doing what you love.
Making a decent living from Etsy is no easy feat, it’s a crowded market that can be difficult to stand out in and you might need to invest a little in marketing to initially bring customers to your page.
However, if you’re just looking to bolster your monthly income with a little extra then Etsy can be an extremely flexible and most importantly, fun option.
Become a Virtual Assistant
Business owners, especially online business owners, often need to bring in extra hands for tasks such as social media management, website updates and general administration tasks.
This is where a virtual assistant comes in, as a virtual assistant you would be there to help business owners with their day-to-day tasks from the comfort of your own home. You could be helping with graphic design, managing email inboxes, or blogging, whatever the client needs.
Over the past year demand for virtual assistants has been on the rise and getting started is as easy as going online and finding clients on websites such as Upwork.
As work increases and you bring in more clients you can choose to specialise in areas such as customer service and social media, racking up your prices as you hone your skills. Further down the line, you could even choose to branch out and become an independent contractor, increasing your earning potential exponentially.
Bottom Line
With just a bit of dedication and practical application pretty much anyone can start earning some extra money from home. These are just some of the options available but there are hundreds of others out there, and if you have the drive and passion for independent work then almost any skill or talent can be made profitable. All you have to do is start!
Author’s Bio:
Salvatore Presti is an American writer living in Italy who enjoys the fine art
of living well. His interests include anything wine, food or nature related
especially when enjoyed with friends and family.
