I may earn money or products from the companies mentioned in this post.
Have you ever found yourself wishing you could make a little extra cash, but without having to leave your room? Yea what a coincidence, me too. Ever since I got into blogging, I've been interested in other ways people make extra money on the side without ever having to leave their home. It just seems so much more convenient and practical, especially if what you're thinking of doing for a side job that's outside of your home pays just as much or less than what you could be earning from simply using a computer or laptop.
In my opinion, it's definitely much easier and relaxing to have the luxury of working from home.
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Benefits of a side gig from home:
- No commuting
- Set your own hours
- Reduces distraction
- No useless meetings
- Better overall mood
It also depends if you have the necessary skills, which is why it's always a good idea to reflect on other areas where your skills could be used that are of interest to you. It doesn't have to be anything crazy, just start small at first and go from there, that's what I did.
Here are 10 ways to make extra money from your computer at home this month:
1. Create a Blog
So this is definitely my favorite way to earn money from home. I like it the best, because it's a great way to essentially journal, to be able to talk about whatever is on my mind. Since I've taken a few years to learn about investing and how to make a little extra cash on the side to put away for my retirement, I've chosen to write about just that! And even though as of this moment I haven't earned anything yet from the blog since I just started writing posts, to me it's still fun because it's a side gig that is solely my own. I don't have to consult with anyone before I decide to start working on it. I can write about whatever topics I want and at my own pace.
To see what the potential is for you income wise, check out Michelle Schroeder-Gardner's 2017 December Online Income Report. It's incredible how much she's made so far through hard work! While she was working on the blog when she had a full-time job, she made as much as over $11,000/month.
So say you could potentially make even $5,000/month while you have your full-time job. That's $60,000. Estimate after expenses and taxes the total is $33,000 (not sure how accurate that is, but go with it). If you were to keep that pace for say even just 15 years, stopped saving that money after the 15 years and invested it in an S&P 500 index fund, in 40 years you would have $5,309,949.40! On the other hand if you waited to invest 15 years later and only saved that money, you would have $2,686,579.16.
Either way, it's still a lot of money, but I just want to show you how important it is to not spend the extra money, and invest it. Make more, save more, invest more. Boom.
2. Become a Virtual Assistant
This day in age is a perfect opportunity to become a virtual assistant. The internet has allowed so many people to become experts in specific niches and areas dedicated to websites. You can become a social media manager, a Pinterest specific virtual assistant, a content editor, schedule appointments, email engagement manager, etc.
All you need to think of are tasks that someone who runs a business or site would want to delegate and offer to do those for them. According to The Frugal Ginger, the average wage for a beginner virtual assistant is $15/hour. Let's say you put in 10 hours a week as a virtual assistant. That's $150. Annually that turns into $7,800 or after taxes around $5,000. That right there almost fulfills that maximum amount for a Roth IRA account. $5,000 earned and invested at 7% for 40 years turns into $1,142,920!
3. Test websites with UserTesting.com
This site is pretty cool. It literally pays you to test websites. You get $10 for each website you review and test. You also get an additional $15 per site you test on your phone. It's not difficult to qualify for the job, because they want real world people who would be casually looking at these sites on their own time.
So let's say you got familiar with how it works. You decide you want to test 3 sites a week, all on your phone. That's $2,340 a year. Saving and investing $2,340 for each year for 40 years investing in an S&P 500 index fund could earn you up to $534,887.
4. Sell Products Online Like On Amazon or Shopify
I've seen plenty of success stories using Amazon as a way to make extra income. Whether it's from a drop shipping business, selling ebooks or hard cover books, or finding a niche market and reselling products, people have found a way to make thousands of dollars. Check out this article on how this couple managed to make $100,000+ per year from Amazon's FBA program.
Say you even were able to make $30,000 a year as a side gig from this and $15,000 was the net profit after taxes and expenses. If you save and invest the $15,000 each year in the S&P 500 index fund for 40 years, that could turn into $3,428,760 with a 7% rate of performance. Not too shabby.
5. Computer Programming
This is something I personally have always wanted to get into but never found the time to learn (I know, I know). If you already know a programming language or even HTML and CSS, reach out to sites or go on freelance networks like UpWork or Fiverr to build up your resume. There are also great boot camp schools if you are willing to invest the time and money to make a career change and attend one. Here is a list of the top programming schools for 2018 provided by SwitchUp. According to Sokanu, hourly wages typically start at $21.37. Even if you found 2 hours a day to work on a project for someone with a $21.37/hour wage, that turns into $15,557.36. Sure you probably won't put in two hours a day on this, but maybe you can plan ahead and put in 3 hours for two days to free up a day.
You know the drill: Say you take the $10,000 or so after taxes and save and invest it for 40 years at the 7% rate in the S&P 500 index fund, it turns into $2,285,840. Bingo.
6. Freelance Writing
You can also become a freelance proofreader. You can make a substantial amount on the side as a freelance editor/proofreader. Here's an article where someone was able to make $30,000 in 10 months as a proofreader. Granted, this was her full-time job. So say you can reasonably make $12,000 in one year by putting in a third of the time she did. After taxes and expenses that could come out to be around $7,500. With the same formula for saving and investing that amount over 40 years at a 7% rate, that can turn into $1,714,380!!
7. Create an Online Course and Post it on Udemy
Creating an online course for sale in general is one of the best ways to make more money along with blogging in my opinion. Once you put in the hard work, it's essentially done and all you need to do is promote it and maintain it. The hardest part is over and you get to watch your dedication pay off. Here is a great article on how a former high school teacher made $1 million from creating courses on Udemy. So say you put in the time and are able to make $1,000/month. That adds up to $12,000. Estimate the net total to be around $7,500 and you've got $1,714,380 again if the entire amount was invested in an S&P 500 index fund for 40 years with a 7% performance rate.
This is a new program I came across a few weeks ago. You may be able to teach English online to children from your own home! VIPKID is a company that allows people to work from home, enabling you to create your own schedule and earn around $17-$21/hour. Some teachers earn up to $1,000/month or more. The best part is you don't need a teaching degree. You do however, need a 4 year degree in something. So let's say you work 10 hours a week for 48 weeks for $17/hour and net around $5,300. That alone almost fulfills your maximum for a Roth IRA! If you saved this every year and invested the same way I gave examples for in the previous options, this could turn into $1,211,495.
9. Freelance Work from Reddit
So I recently discovered there are subreddits for freelance work. This might be easier to get some extra work than going to the traditional sites like Fiverr and UpWork, just because there will be fewer people on here to compete against. Obviously a lot of people go on Reddit, but there are so many subreddits, it's hard to keep track of everything out there. The chances could be in your favor if you look hard enough.
Here are the three subreddits I found that have been very helpful for others in finding freelance work:
I immediately saw a posting that pays $50-$100 a day sending emails. Not sure how promising it is, but say it was for $50/day two days a week. That's around a net of $3,380 for minimal effort. With the same formula as the previous examples, that can turn into $772,614 for hardly doing much work to be honest.
Obviously this is usually for people who are comfortable being in front of the camera and most likely have had a lot of practice if they are making a significant amount of income. But you have to start somewhere! The YouTube Partner Program enables you to make money from advertisements on your videos.
Soo basically if those parents are smart, say he did that for only 5 years until it gets creepy he's still playing with little children's toys at 13 years old, and the parents invested the net profit of around $700,000. That could turn into $10,404,440 in just 15 years.
So as you can see these are just a few of the hundreds of different ways you can make money online. There's no limit to the amount of money you can make. You just have to be willing to put in the hustle for your side gig. It can take some time, so just be patient. I know that's the best piece of advice I read about when I look for advice on how to make my blog better to start making a profit from it. If you can remember that at some point all great companies and net worths, for the most part at least started from nothing, then there's nothing stopping you from getting started.
Even right here in these examples, aside from the YouTube total invested amount, I brought you examples that if you were some crazy super human and were able to do all 9 of those side gigs for the amount of hours I accounted for, you would have around $15,491,856.
Now obviously the point is to look at how much you can boost your net worth for retirement if you're disciplined and invest early. It's not to literally take on all of these things at once. It's just to give you an idea of how easy investing can be if you take control and put in a little extra effort to have a side hustle to make more cash and invest all of it.
That is the power of compound interest.
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