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Five ways to make money online

  • Starting investments: $250
  • Profit: from $500/day
  • Level of difficulty: easy


The automated trading process is executed by a trading bot, which is based on a specific set of mathematical and statistical rules. These rules are generally applied to fluctuations in price and volume of pairs and are devised as per the technical analysis. Automated trading bots place the trade orders on behalf of the traders and enable them to execute more efficient trading without having to stay acquainted with the market trends at all times.



The algorithm of a trading bot examines the market to unearth the best trading opportunities according to the pre-defined or pre-programmed trading rules.


You almost do not need any skills and experience. Only a small starting capital is needed.


I can recommend this platform for trading

Tip #2
Consulting

  • Starting investments: $0
  • Profit: from $100/day
  • Level of difficulty: very hard


Another way to make money online is via consulting. If you’re an expert in any field, you could potentially find people willing to pay you to counsel them on their personal or business goals. You might think you’re not important enough to consult for big companies, but you could be surprised at the types of expertise people will pay for.


My colleague Robert Farrington of The College Investor is a good example of someone who consulted online on the side in an unlikely industry. Robert told me that, after he had been blogging for a few years, a couple of brands reached out to him to ask him for help with social media and online marketing.


Robert said he did an average of 4-6 of these gigs per year for a while depending on his schedule and the work involved. The best part is, he charged a flat rate that usually worked out to around $100 per hour. And remember, this was pay he was earning to advise people on the best ways to use social media tools like Facebook and Pinterest to grow their brands.


If you want to start consulting but aren’t sure what steps to take next, you can also set up a free account through Clarity.fm. This website lets anyone who wants to offer consulting set up a free profile. Once your profile is set up, people will find you and book a session you’ll get paid for.

Tip #3
Try Out Freelance Writing

  • Starting investments: $0
  • Profit: from $20/day
  • Level of difficulty: medium


If you have writing skills and creative talent, it’s also possible to get paid to create online content. I don’t do this as much as I used to, but I am very aware of how viable this income stream is.


One blogger I know, Holly Johnson, actually makes over $200,000 per year creating content for other websites. And actually, that’s on top of the six figures she earns with her blog, Club Thrifty.

Holly told me she started writing content in 2011. At the time, she still worked a full-time job but created content online part-time to supplement her income. Over time, she was able to double and triple her rates until she could quit her full-time job to write. 

These days, she makes bank as a freelance writer and teaches others to do the same via her online course, Earn More Writing.


According to Johnson, the key to making it as a freelance writer is figuring out a niche, networking with people who might hire you, and delivering high quality content 100 percent of the time. While there are a ton of writing job boards to help you get started, she says it’s fairly easy to find starter writing jobs on websites like Upwork.com.

Tip #4
Create An App

  • Starting investments: $2000
  • Profit: from $100/day
  • Level of difficulty: very hard


Yes, this is far more technical. Unless you have the right app-development skills, doing this is going to be a significant undertaking. But, apps are also a great source income when done the right way. You can reach a massive audience of smartphone users by building a great app.


However, like anything else truly worthwhile, apps require a significant investment of your time or money upfront. If you don't have the skills, then you have to hire someone who can assist you in creating a great app. But first you need to come up with an idea that will sell. Do the proper market research and analytics to come up with the right app.

Tip #5
Rent Your Home On AirBnB

  • Starting investments: house owned
  • Profit: from $50/day
  • Level of difficulty: medium


Rent your entire home or just a room on AirBnB. This is a simple and effective way to make money online, especially in the short term. While you won't get rich doing this, you can generate thousands of dollars per month for the right place. And, if you live in a sought-after vacation destination, then you're certainly in luck.




Research other listings in your city on AirBnB and see what the going rate is for a place like yours. You could also just rent out a private room as well or even a bed in a shared room. In fact, that's how AirBnB got its start. However, you might find it hard in the beginning without reviews, but as long as you take really good care of your guests and provide a lot of value, the reviews will eventually come rolling in.