Yahoo Finance How to Make Money Without Leaving the House
We are all stuck indoors due to the lockdown and many of us may find ourselves spending money on essential goods or daily bills, without a consistent flow of income. As many of us are losing our jobs, we are finding it harder to keep up with our day to day expenses. Due to the lockdown, some of us have extra time on our hands and have the time to earn some extra cash. If you are interested in a way to make some money during this quarantine, this article can be beneficial for you.
Part-Time Freelancing
Freelancing is a popular way to get part-time work. By leveraging skills that you already have, you can take on short-term projects for multiple clients. Although some jobs require extensive experience, there are also many roles that can be completed by generalists. Freelancers also have total control over the hours they work and which projects they take on. Due to this, you are able to continue to work on projects that interest you. Some freelancing work that can be done without much prior experience include data entry, copy editing, and typist.
However, freelance sites typically take a cut of your earnings, in the form of a platform fee. For instance, Upwork charges a 20% fee on the first $500 earned. This would mean that if a freelancer earned exactly $500 for a project, Upwork would take $100. By doing this a freelancer would net a total of $400 for that project. As you do more projects you will have the opportunity to earn some money as well as increase your credibility. This will allow inexperienced freelancers to eventually take on higher paying and more challenging jobs.
The sites listed above are popular among freelancers. Through these platforms, you can highlight your skill sets and tell hiring managers which tasks you are capable of completing.The freelancer option is a very good one for those sitting at home and have certain skill sets that will allow them to do online work for clients, whether it be data collection and analysis, copy editing, or even bookkeeping.
Spread Your Knowledge
A great way to make use of your time is by teaching and helping people learn about subject matter that you have already mastered. This would be a job for those who are comfortable being in front of groups of people and who are confident enough in a given subject to be able to teach others. This job may not be for everyone; however, if you are qualified and have experience teaching, this job may be perfect for you. Helping people learn something new can help you earn extra cash while giving you a feeling of fulfillment. There are many courses that people are currently taking to try and keep up with their classes.
In terms pay, those with limited experience can expect to earn from approximately Rs. 200 - Rs. 500 an hour. Experienced tutors can earn upwards of Rs. 900. The pay range depends on the tutors experience level, the greater the experience the higher the pay. Also, tutors of different subjects command different rates. For instance, by tutoring students on mathematics, you can earn Rs. 300 per hour; however, if you teach students oral and verbal communication, you can earn a salary closer to Rs. 490. Other notable subjects are English studies and Writing earn an average of Rs. 297 and Rs. 256, respectively.
Salaries increase depending on the experience you have as a teacher. Therefore, the more experience you have, the more attractive you will be to your potential clients.
Learning Platforms
Tutorme
Skooli
CourseHero
Hashlearn
Chegg
Udemy
Due to the novel coronavirus, it is likely that there will be a boom in online course registrations. This makes it a great opportunity for anyone looking to enter the online education space.
Spruce Up Some Photos
Photo editing may be the job that requires the most pre-lockdown experience due to the skills required to complete many projects that clients may have. Nonetheless, it is a field of work that does not require you to leave your home. As a photo editor you will have to be familiar with programs such as Adobe Photoshop, Adobe Illustrator, and Adobe InDesign. The average salary for this job is approximately Rs. 305 per hour. However, if you are an experienced photo editor or graphic designer, then you could make closer to Rs. 650.
If you are unfamiliar with the required software or need to improve your skills with these programs and are interested in this work, you can always take advantage of the online courses offered. On the other hand, we would not recommend anyone to learn these programs just for the quarantine. Take these courses if you are interested in the courses and the role, this lockdown is temporary and if you do not see yourself using these skills after the lockdown, then we would recommend one of the other options. For those that are experienced with the programs, working as a freelance photo editor will also provide you with a lot of flexibility.
Start an Online Business
A great way to make good money during the lockdown is by selling goods and services online from your living room. There are many forms of e-commerce, for those that have goods lying around the house, you can start selling things on social media platforms like Facebook or Instagram These are free platforms that you can use to sell goods. If you want to take it a step further, you can create a website using the platforms in the table below; however, these come with a fee.
A particularly popular type of e-commerce business is dropshipping. A dropshipping business is when you sell merchandise to a customer without holding any inventory. To do this you will need to open up a store and sell goods or services using your own name. An example of this would be the sellers on Shopify that sell goods at a premium that they purchased for a discount from other retailers. You would send the order to the original retailer, who would then directly send the product to your customer. There are a number of platforms that will allow you to open up a shop with a small fee.
E-Commerce Platforms
The money that you earn with this role varies based on what product you are selling, how you are selling that product, and the amount of work you put in. Most importantly, the amount of time you put in will dictate your revenue. For example, the more you sell the more money you will make. Other important things to remember are to focus on reducing your cost for the goods that you are selling to increase your margin and to make sure that there is interest in the market for your product.
Regardless of the product you choose to sell, you will not make money unless you are successfully making sales. There are plenty of costs that come with ecommerce, primarily dealing with marketing and promotions. These costs can eat up at your profits if you are not able to keep up with your sales or gain new customers during the first few months of your business. However, this is not to say there isn't a significant potential upside.Starting an e-commerce venture will allow you to have total control over your hours and you will be in control of your business. You also have the flexibility to sell any good or service that you would like. This is definitely the most flexible option.
Build Your Digital Footprint
Being a social media influencer is definitely the most challenging job on the list, in terms of qualifying to become one. To be a social media influencer, you will need to have thousands of followers on a social media platform of your choosing. Without this, it is not possible to do this job. This can be done by a page (e.g. Instagram, Facebook) that attracts a certain group.
If you already have the following on social media, the job becomes much easier. Social media influencer marketing is one of the fastest growing and preferred marketing channels. By registering yourself on a social media influencer platform you are opening up your social media page to brands and products that want to be marketed by you. This gives them exposure to your followers through you and your profile.
The best way to position yourself in this market, once you have the followers, is to be open to the brands that reach out to you. You also want to be selective with the brands and products that you are advertising, so you have a consistent profile and do not lose followers. There are a number of platforms for social media influencers to use to find clients that would be interested in using their social media services.
Blogmint - Blogmint is said to be Asia's first influencer marketing platform and still holds the highest number of influencers.
Plixxo - This is one of India's largest social media influencer networks. It was launched by POPxo founder Priyanka Gill, catering to influencers and brands.
Influencer.in - A great one for both the influencer and the client to find their best match, through their "Influencer Discovery" option.
Mad Influence - Mad Influence has a wide array of industries covered ranging from automobiles to education to healthcare.
Make It Happen
Consumers are currently sitting at home on lockdown with the economy at a standstill. Many individuals are currently facing unemployment and are looking for ways to earn money to help pay their bills with their extra time. This is possible through many of the opportunities mentioned in this article. As with anything, it is important to do your research and apply your skills and knowledge to the work that suits you best. We wish you the best of luck with the rest of the lockdown.
The article How to Make Money Without Leaving the House originally appeared on ValueChampion’s blog.
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