Do you need a passive income stream?  Here are 7 ways to make money online

Do you need a passive income stream? Here are 7 ways to make money online

If you want to make quick money, you may want to consider

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Inflation is currently at a 40-year high and is sending prices up on just about everything. While cutting corners and budgeting carefully may be helpful for some Americans, it may not be enough.

If you’re in this boat or just want to relieve some financial stress, you might want to consider creating a second passive income stream. Fortunately, the internet makes this easier than you might think. There are dozens of ways to make money online without any special training.

Want to create a passive income stream? Here are seven ways to earn extra money.

1. Start a blog

Blogs aren’t just for fun these days. They can be quite a money maker when done right. The key is to choose your niche, build your target audience, and then monetize the blog. You can do this through affiliate marketing, which earns you a commission when someone clicks on a monetized link or buys a product promoted on your blog. You can also try selling and displaying ads on your site. You can use a tool like Google Adsense to start with the latter.

2. Take online surveys

Giving your opinion and participating in market research can also be an easy way to make money online. Some of the more popular survey sites are Survey Junkie, Swagbucks, OneOpinion, Opinion Outpost, and Ipsos iSay. Remember: These will not bring huge gains. Swagbucks says its members earn around $1 to $5 a day. That’s why it’s important to do your research before you start or commit to participating in any online survey.

3. Start an online store

If you are a creative person, you can open an Etsy shop. Etsy sellers offer everything from jewelry and clothing to artwork, invitations, garden signs and more. If that’s not your style, you can open a dropshipping store. With this strategy, you essentially run a storefront. When a customer places an order, you order that product from a third party (usually a manufacturer, dealer, or wholesaler) and ship it directly to the customer. Shopify has a complete guide to dropshipping that you can use to get started (and you can use their platform to build your store, too).

4. Sign up on a gig-work platform

There are several platforms designed for online gig work. For example, Amazon Mechanical Turk is a place where you can take on small assignments for businesses around the world. They may include moderating content, taking a survey, or transcribing audio. Clickworker is another similar platform, or if you have a specific skill like copywriting, editing or graphic design, you can use freelance platforms like Fiverr, Freelancer.com, and Upwork to connect with potential clients.

5. Start a YouTube channel

YouTube creators can make a lot of money, and it doesn’t take much expertise. You can create how-to or explainer videos on just about any topic, or get more personal and put yourself in the videos. You can interview subject matter experts, provide tips and tricks, or even show yourself playing a variety of video, mobile or board games.

The key is to find a niche and build an audience. Then you can integrate Google Ads, become a YouTube Partner and even monetize memberships, live chats and subscriptions.

6. Become a transcriptionist

If you’re a fast typist, you may want to consider doing online transcription for cash. You will just have to listen to the audio files and then write down what you hear. You get paid per piece, so the faster you type, the better—at least financially speaking. Rev.com, GoTranscript, and TranscribeMe are just a few of the sites where you can find transcription studies online.

7. Test websites and apps

Do you want tech-savvy types yourself? If so, you can get paid to test new websites and mobile apps and find glitches. For example, at UserTesting.com, you can test new sites and products from brands like GoDaddy, Hello Fresh, HP, Subway, and Canva. You just need to have a reliable WiFi connection, microphone, computer or mobile device and you can get to work. BetaTesting.com, UserZoom, and Userlytics are other similar platforms.

More ways to make money fast

If none of the above seems appropriate, you can become a virtual assistant, sell your photos on stock photography websites, or become a social media influencer if you can gather enough followers. There’s a side concert for everyone. You just need to find your perfect fit.

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