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Five methods for creating a secondary income from home

Five methods for creating a secondary income from home

The concept of the side hustle is decades old but has only really found a name in recent years. The internet has made it so much easier for us to generate a secondary stream of income and with COVID still crippling the global economy, there’s never been a better time to get your side-game on. So, here are a few online options that anyone with a stable connection could consider investing their time and resources in to earn an extra buck.

 

Blogging – Are you passionate about something? Can you write? If the answer to both those questions is a resounding “yes” then you have exactly what it takes to be a blogger. Create a blog and gradually build your brand, keeping up with regular content that is relevant and engaging. Eventually, your blog will be popular enough that you’ll be able to start charging not only for backlinks to other sites but for brand deals and advertisements too.

 

Buying and selling – Using popular selling sites such as eBay and Facebook Marketplace, you can buy items that might be worth literally pennies to come and sell them on for a healthy profit. One way to do this is by selling the items with better images, making them appear better than they did when you first clicked on them. On a more practical level, you could even buy dilapidated products and fix them up to sell on for a profit, if you’re good with your hands and know what you’re doing. It’s a fundamental business idea people have been making extra cash off for years now but it’s never been easier to get started.

 

Forex Trading – If you are looking for a hobby that you can make a substantial secondary income with, forex trading may be the ideal option for you. There are thousands of resources available online to help you learn the ins and outs of the trade and if you find a good forex trading platform you could be up and running in a matter of minutes with a demo account. Note, however, that it’s an incredibly fast-paced and competitive market that isn’t going to be for everyone!

 

See Also

Stocks – Investing in stocks is a great long-term investment that if done correctly can provide a steady return on investment. The greatest thing about investing in stocks is that it’s all passive income. This means you could literally be earning money while you sleep. If you purchase enough high dividend stocks you could be making more money passively than you do actively. It doesn’t involve a certain amount of “learning how to play the game” though.

 

Sell a service – Finally, even if you are hopeless with the whole “online thing” if you live in a relatively busy neighborhood you could always create a social media account and sell your services to locals. Cleaning, babysitting, dog walking, car cleaning, and general ‘odd jobs’ are ideal ways to help younger people earn a little extra dough.

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