People need to know how to earn extra money from home especially when this lockdown comes into the picture. You can make extra cash for lots of reasons. You might need to pay off unexpected debt, like a medical bill, car repair, home maintenance, or other accident. On the other hand, you might be trying to do something new, like a vacation or supporting your hobby.
No matter what you’re saving for, you’ll run into the same problem. How do you make extra money in a way from home that fits into your current schedule? A full-time job or caring for kids can be hard to workaround. That means you need a way to make some cash that’ll be an effective use of your time.
Not to worry, you can start making money from home in 3 easy steps. With a little prep, you’ll be ready to achieve your financial goals.
Step #1: Pick A Product, Skill, Or Service
First up, you have to pick your area of expertise. You can divide your options into three basic categories:
- Products
- Skills
- Services
You could sell products if you:
- Have things lying around that are in good condition, but you don’t use
- Enjoy refinishing or refurbishing
- Knit, crochet, paint, draw, make jewelry, sew, or make other crafts
You could make money from skills if you’re good at something most people aren’t. Some examples of skills are:
- Writing
- Accounting/bookkeeping
- Data entry
- Design
- Photoshop
- Video Games
- Speaking another language
The last category is services. Services are things other people could do but want to hire someone out for. These are the things that don’t require you to have anything or know anything in particular. People hire out lots of services, but some examples are:
- Child care
- Planning
- Running errands
- Taking surveys
- Keeping someone company
- Selling plasma
Usually, services take the least time or effort, skills pay the best, and products are the most fun. Most people can fit into any category. The best fit for you will depend on your time and your own set of skills or inventory.
Step #2: Pick A Platform
Once you know what you want to do, the next step is choosing where to do it. Every platform has its pros and cons, so make sure you go in informed.
Product Platforms For Creatives
- Etsy
What it is: If you’re a crafter or creator, chances are good you’ve at least heard of Etsy. The e-commerce giant specializes in crafting. However, if you have a nose for vintage collecting or refurbishing, you can make a home on Etsy.
Pros: Getting started with Etsy is easy, and the site is well-known. This means that you can be making money in days. Other crafters on the platform are a supportive community, making Etsy a great place to get your feet wet with selling.
Cons: Etsy charges fees to use the platform, and it’s competitive. There are thousands of users and your crafts need to rank in a search. The huge user base is also home to copycats. Those copycats might try to swipe your ideas or designs, which can be frustrating and time-consuming to solve. Poor reviews can also be hard to solve and hurt your sales.
- Redbubble
What it is: Are you an artist who has people saying, “I wish I had that on a t-shirt!”? If not, do you want to be? Redbubble prints creators’ custom designs onto a wide variety of products. So if you draw or design anything, it’s the platform for you.
Pros: Redbubble is a great way to make passive income. That means you’d put in a little work that makes a lot of money over time. Redbubble also has an easy upload process and tons of product options. If you make fanart, Redbubble is home to many different fanbases.
Cons: Your commission may start small; there are millions of users; competitive, again because there are lots of creators and you’ll need to rank in a search.
For Selling Or Reselling
- Amazon
What it is: Amazon needs no introduction at this point. In 2023, however, it’s all about knowing what to sell on Amazon. With the right product, this can easily be the best site on the list.
Pros: Amazon has different fee packages and is a go-to for most shoppers. This means you can sell a wide variety of products in many different niches — from digital media to new products to used and/or refinished products. With digital media, there’s also a chance for passive income.
Cons: You guessed it: competition and reviews are something to consider here, too. It may take a few tries to discover a niche that fits you. You’ll have to keep an even closer watch on your search rankings. Also, Amazon doesn’t update product availability in real-time, so you may make sales on something after you’ve sold out of it.
- Letgo
What it is: Letgo is a way to sell your extra stuff locally. That means no pricey shipping or long commutes to deliver something. letgo says they want to “make second-handing second nature”. If you have old things you want to sell, this is a great way to do it without extra fuss. If you’re someone who likes to refurbish or refinish, this could be a great place for you to find things to work your magic on.
Pros: Letgo is a free service, and they’re committed to making it safe, too. The app has strict quality and anti-spam standards for its user base. It’s also easy and quick to use.
Cons: The cons of Letgo are the same as the cons with most similar apps. People can be flaky, ask personal questions (though this is against the community guidelines), or try to low-ball you. letgo also doesn’t facilitate transactions, so you and your buyer will have to work that out on your own.
*** A small note *** When selling things locally, be safe. Don’t give your address or personal information out, and meet in a busy public place.
Skill Platforms
So many skills, so little blog space. There are platforms for specific skills, but here are two of the big names to get you started.
- Fiverr
What it is: Fiverr is a gig platform for freelancers of all kinds. Writing, graphic design, sound design, photography… The list is virtually endless. You can sell any talent you have!
Pros: The simple layout makes it easy to get started, and the pricing structure gives you flexibility. You can work as much or little as you want, in the hours that work for you.
Cons: Fiverr has both flat fees and additional fees depending on how you withdraw your earnings, which can stack up. Fiverr is also a huge platform based on affordability, so setting high rates isn’t necessarily a good way around the problem.
- Freelancer.com
What it is: Freelancer.com is a project bidding site. Businesses post projects they need a freelancer for in areas like marketing, data entry, software development, and the like. Then users come in and post a bid for the project, stating what they’ll do and how much they plan to charge.
Pros: Freelancer.com has a larger number and variety of jobs compared to many other sites. This means it’s easier for you to find a fit. Also, if the poster doesn’t have the time to analyze your fit for the project, the site will. Freelancer.com staff will reach out to you and vet you for jobs once you have a good standing on the website. This last one could be a pro or a con, but Freelancer.com requires a more active approach to freelancing than Fiverr. If you’re someone who likes to take things into your own hands, this is the site for you!
Cons: The site has millions of users, and unfortunately some of the projects posted are scams. Side by side with the scams are postings for breadcrumbs. You may have to work on some of the low-paying gigs to build your reputation before you get to higher ones, which can be time-consuming. When trying to resolve these issues, customer service can be shaky at times.
Service Platforms
Services, like skills, come in a very broad range. Since we can’t cover all of them, let’s look at a couple to get started with.
- Getaround
What it is: Getaround is a car-sharing sharing marketplace. If you have a car that isn’t being used, Getaround helps you make money from it. Their digital key technology means that you don’t even have to coordinate dropping off keys.
Pros: Getaround allows you to rent out your car as frequently or infrequently as you want. They also give your car full insurance and 24/7 roadside assistance while it’s being used.
Cons: If you only have one car, not being able to use it while it’s being rented is an obvious drawback. The other problem is that Getaround has a few cars on their list that aren’t eligible, so you’ll have to double-check that your car fits the description first.
- Swagbucks
What it is: Swagbucks is a survey and coupon platform. There are a few different ways to earn money with Swagbucks, including cash back rebates. Most people know Swagbucks for their surveys, though, so that’s what we’ll cover here.
