40 Best Ways To Make Money Online In 2020
1. Stock Market
Okay, I know this one is a stretch, but there are thousands of people out there making $100 a day or more on average through the stock market.
One of the most common ways is through dividend income. Dividends are payments to shareholders that are typically paid out on a quarterly basis. I personally love dividends, as this is passive income at its finest!
Consider a stock like AT&T. This is a company that currently pays a dividend of around 7%. That means for every dollar you invest in this company, you will get back seven cents a year in the form of dividend payments.
Now, it is important to remember that dividends are never guaranteed. However, companies like AT&T have been paying dividends for decades, so it is a pretty sure bet.
In order to average $100 a day from dividend income, you would need to be earning $36,500 per year. Assuming AT&T continues to pay a dividend of 7%, an investment of just over $500,000 would earn you that income.
While that probably sounds like a lot of money for most readers, that is a great goal to aim for the long term! The most important part is to get started as early as possible. Even Warren Buffett himself has said this before! Growing your wealth and making money through the stock market is very slow at first, but over time your money grows faster and faster each year thanks to compound interest. Adding dividends to the mix means your money grows even faster, as you reinvest these payments!
How To Get 2 Free Stocks
Webull is ready to help you get started on your stock market investing journey. They are offering our readers 2 free stocks!
If you open an account with them and fund it with $100, you will get your free stocks! It is a lottery system, so it could be a low or high-value stock. Regardless, you can't beat free. This is the best promotional offer we have seen from free investing apps we have reviewed.
2.Invest In Bitcoin
Unless you have been living under a rock, you have heard about the crypto craze. Bitcoin and other cryptocurrencies often see drastic price changes in a very short period of time.
While this type of speculation isn't for everyone, there are some who capitalize on this opportunity by buying cryptos when they are cheap and selling them when the price soars. Some people think that Bitcoin is heading to $100,000 while others believe it is completely worthless.
I personally had a bearish perspective on Bitcoin when I first learned about it. However, over the last few years, I have talked with investors and different crypto experts and this has ultimately changed my opinion. In late 2019, I decided to join the club and I started investing $500 a week into Bitcoin. I may scale back this investment over time, but I decided that I wanted to add this to my portfolio.
Get $10 Worth Of Free Bitcoin
Coinbase is the most popular platform for trading popular cryptos like Bitcoin, Ethereum, Litecoin and more! It is the platform I use to purchase my Bitcoin. Then, I transfer it to a hardware wallet for safe offline storage.
The best part is, you can get $10 of free Bitcoin when you buy $100 worth.
All you have to do is use this link and make a $100 cryptocurrency purchase!
3:Get Paid To Deliver Groceries
The new "stay at home" trend has unearthed a number of different opportunities for making money. One of the latest is getting paid to shop for and deliver groceries! Instacart gives you the opportunity to be a personal grocery shopper for someone looking for grocery delivery.
As an Instacart shopper, you are your own boss. Similar to Uber, you work when you want and you don't work when you don't want to! According to Ridester, Instacart shoppers are making anywhere from $7 to $20 per hour with the average pay being $11 per hour.
Keep in mind, a lot of these delivery type jobs mean that you will be earning tips! If you factor that in, you could be pushing $25 an hour or more. If you carry the groceries up the stairs in apartments, you can bet that this will increase your odds of getting a tip.
Here are the qualifications to start delivering for Instacart...
- You have to be at least 18. It is recommended that you are over 21 so you can purchase and deliver alcohol. You will need to verify ID of your customers.
- Since your shoppers might need things like cat litter or dog food, you need to be able to lift 40 pounds with ease.
- You need to have a smartphone (who doesn't?)
- Finally, you just have to pass a background check.
4.Snag A Photo Of Your Receipts
Perhaps one of the easiest ways to make money online today is with ReceiptPal.
This is a 100% free app that puts money in your pocket for simply photographing your receipts. You know, those things you crumple up on the way out of the store or jam in your car door. They could be making you money!
ReceiptPal has two options to start earning rewards...
- Start photographing your purchase receipts
- Link them to your Amazon account
ReceiptPal is based on a points system. If you use this link, you automatically get 150 points! Each receipt you submit will earn you points. When you have enough for a reward, you cash out! It's that simple.
One of the best parts about ReceiptPal is that you can redeem your points for as little as a $5 gift card. A lot of these rewards apps have high minimums that take months to reach. Based on our calculations, you could reach the cash out threshold on ReceiptPal in about a month.
Market research companies are curious what products consumers purchase together, so this receipt data is useful to them. Why not get paid for something you are simply throwing in the trash?
5.Start Getting Paid To Walk (Seriously)
Okay... this is definitely one of the strangest ways to start making money online.
There is an app called Sweatcoin that literally pays you for walking. With Sweatcoin, you earn digital currency based on the number of steps you take.
Currently, it is 0.95 Sweatcoins per 1,000 steps you take. The more you walk, the more you earn!
One caveat is that you can only earn Sweatcoins when you are walking outside, so the treadmill doesn't count!
There are more than 2 million active users each week who are all earning free coins. After you have accumulated some, you can trade them in for gift cards, electronics or even cold hard cash!
For example, you can get...
- An iPhone XS for 20,000 Sweatcoins
- Wireless Headphones for 6,500 Sweatcoins
- $1,000 in cold hard cash for 20,000 Sweatcoins
6.Start A YouTube Channel
You know that phone sitting in your pocket? Or the one you are reading this article on? Well, that phone has a camera and a mic. Did you know you can make some serious money as a YouTube personality?
I have been doing YouTube videos since October of 2016 and it is hands down my favorite way to make money online. It does require you to put yourself out there, but if you have an outgoing personality and thick skin, this could be a great way for you to make money online.
What you need to understand is that there is a massive amount of effort involved with building an audience on any platform! In fact, it took me over 7 weeks to get my first 100 subscribers on YouTube.
When I started my channel, I wasn't making any money at all. I was solely doing it out of enjoyment. Now, I am making around $700 to $1,000 a day just from the ad revenue on my channel.
7.Review Products You Already Own
Are you a guitar aficionado? Do you know a lot about headphones or kitchen gadgets?
One of the best ways to make money online is to review products that you already own and are using. Believe it or not, you are probably an expert at a certain category of products. What if you could review these products, talk about what you like and don't like about them, and make money in the process?
Now, let me take this a step further. What if you could partner up with Amazon, refer sales to them and earn a commission in the process? Amazon pays thousands of people just like you and me for referring traffic to the online store.
If someone makes a purchase within the 24 hours that you sent them, you earn a commission!
This is known as the Amazon Associates Program. When I first started making money online, this was one of the first avenues I explored. I got out my camera, filmed reviews of products that I already owned and was knowledgeable of, and uploaded them to YouTube!
Now, I didn't make a killing with this but it was a great learning experience for me. I still make money through Amazon Associates, primarily by recommending books. If people purchase a book through my link, I earn a commission!
If you aren't comfortable with getting in front of a camera to film a product review, you could create a review blog instead! One of my close friends Odi Productions created a headphone affiliate blog known as Recording Now. On this blog, he reviews headphones and recording equipment and refers sales to Amazon. Easy money!
Here is a pretty comprehensive video I did talking about Amazon affiliate links.
8.Creative Writing
Are you a good writer? The truth is, most of us aren't!
Personally, I feel that I am much better on my YouTube videos. I do enjoy writing though, so I write one or two articles a week for the blog.
So who writes the rest of these articles? Currently, I have two creative writers working for me! That's right, even if you are the worst writer in the world you could still have your own blog by leveraging the talent of other people. Or, if you are the greatest writer in the world, you could have others pay you to create content for their blogs!
Here is a tip; the more specialized you are, the more you will earn!
If you are an expert in a certain field, and a great writer, that is a winning combination. Sites like Upwork and Fiverr allow you to post gigs or services for hire. People looking for creative writers often start their searches at these two sites!
On the Investing Simple blog, we usually pay around $150 to $200 per article that is written for us. There are some specialized freelancers who charge upwards of $400 to $500 per article! If it takes you two hours to write an article that earns you $500, you just made $250 per hour.
9.Virtual Assistant
In every business, there are some tasks that you enjoy doing and some that you absolutely hate doing.
For me, one of the tasks that I hate doing is SEO optimization of my blog. Thanks to the internet, I was able to hire someone from across the country to handle the SEO for my blog! (Thanks Aditya)
This individual is known as a "VA" or a virtual assistant.
These virtual assistants have become a vital part of the way online businesses are run today. Ask anyone running an e-commerce business. Most of them would not be able to do it without a team of these virtual assistants working for them behind the scenes!
Your strength is someone else's weakness. By becoming a VA, you can help business owners with the day to day tasks behind the scenes!
There are a number of tasks I delegate to VA's, including:
- Processing refunds for my courses.
- Moderating my Facebook groups.
- Checking direct messages on social media.
- Keeping track of bookkeeping.
- Running payroll and paying my contractors.
In order to grow my business, I cannot be focused on all these tasks. That is why virtual assistants are so essential in this day and age.
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