Stay rich. It's hard to get rich, but it's even harder to stay rich. Your wealth is always going to be affected by the market, and the market has its ups and downs. If you get too comfortable when times are good, you'll quickly drop back to square one when the market hits a slump. If you get a promotion or a raise, or if your ROI goes up a percentage point, don't spend the extra. Save it for when business is slow and your ROI goes down two percentage points.
Break up with your credit card. Did you know that people who use credit cards for purchases end up spending more money than people who use cash? That's because parting with cash is painful. Using a credit card doesn't carry that much of a sting. If you can, divorce your credit card and see how it feels to pay with cash. You'll probably end up saving a boatload of money.
Try flipping houses if you have experience with making home repairs. As you may know from watching popular home improvement shows, flipping homes involves buying up a lower valued property that needs work, and then fixing it up for resell. To get started, you’ll need to have financing either through a bank a partner. Then, you can buy a property that’s priced below market value. After you renovate the property, you may be able to sell it for a profit.
19. eBay – Of course you can’t read an article about making money online that doesn’t mention eBay. You can start an eBay store and get serious about it or you can just sell some stuff to declutter your home. Either way, I’ve made my fair share from selling on eBay and it’s still a popular way to earn money. If you decide to start an actual eBay store, you’ll want to find a drop-ship business like Doba that will store and ship items straight to your customers so you don’t have to deal with an inventory.
As a transcriptionist, you will transcribe either video or voice recordings into written words. Although medical transcription is what usually comes to mind, the fact is that there is now far more need for general transcriptionists. With businesses and bloggers turning increasingly to podcasts and video to reach their audiences, these mediums are often turned into written content for marketing purposes or training materials.
Net worth is probably the most important financial number you can track. It’s a simple way to see your financial life with a few basic calculations. Every month income comes in, and expenses go out to pay bills and rent. If after all your expenses are paid if you still have some money left over – that’s great. Now you have money to invest and grow.
Salvage and resell. Do you love antiques or have a knack for finding valuables at flea markets or yard sales? If you do, it might be time to consider salvaging items for resale – or even scouting out antiques to sell for a profit. While you’ll need to spend quite a bit of time searching for prospects and spend some money buying upfront, you could easily turn a profit if you know what you’re doing.
Durst says insurance companies are increasingly outsourcing their incoming phone calls to contact centers. The contact centers then have to hire or contract with licensed insurance reps “because state laws mandate that only licensed agents can ‘sell’ policies,” says Durst. So, if you see an ad on TV for XYZ Life Insurance Co. and call the number on your screen, there’s a good chance you’re talking to someone who is working from home.
Become a proofreader. All kinds of businesses hire professional proofreaders to look over their copy and content for errors before they publish. This side hustle is one that could work for nearly anyone since you can work from home provided you have a computer and an internet connection. You can find online proofreading jobs through websites like Indeed.com and FlexJobs.com
Start a bed and breakfast. If you live in a popular resort area or own a historic property, a B&B might be the perfect side hustle. Not only can you work at home with this career, but you’ll also score some tax write-offs in the process — although most innkeepers caution that the profession requires a lot of hard work and is more of an attractive lifestyle than a money-making pursuit.