Although the work-from-home culture became famous in 2020, the idea of having a flexible work schedule and earning an income has existed for ages. Many people prefer to work at their place rather than having to report to a superior or struggle with physically demanding jobs. Thanks to technological advances and an ever-dynamic economy, more people are jumping on remote work and self-employment to earn money right from their homes.
Suppose you’re looking for a way to make money while working from home. In that case, this blog post explores the various popular options, ranging from freelance work to investing and trading financial markets on platforms such as TradingView. You’ll learn to plan and build your income while working from home.
Introduction to working from home
Working from home in its simplest form means doing your regular office job, turning your home into an office and not having to report in person daily. But working from home also means greater freedom, flexibility to choose your work or investment options, the hours you spend on your work, and a great deal of discipline to stay focused. You can set up your home office to aid productivity and leverage the comfort of your home to earn income using any of these:
Freelancing means working for yourself instead of working for a particular company alone. Freelancers take up contracts and choose whether or not to accept jobs from clients. They’re flexible and can take on multiple jobs depending on their capability. There’s an inexhaustible list of skills you can offer, ranging from tech skills to consulting with clients.
IT and IT-related skills are popular among freelancers, but you can offer skills in other fields, such as academia, business, commerce, education, and lifestyle. Ensure you know your onions and can help your clients achieve their targets, and you’ll have steady gigs. Use online marketplaces like Upwork and Fiverr to connect with potential clients.
Traditional investments, such as bonds, REITs, stocks, etc., are popular among stay-at-home workers looking for passive income. You, too, can invest in financial markets to earn money. The five steps in investing are:
- Decide how much to invest.
- Choose an investment strategy
- Open an investment account with a broker
- Understand your investment options and capital management
- Nicest early and build your portfolio gradually
Brokers are companies that offer retail traders access to global financial markets. Brokers act as money makers and impact the success of traders through the quality of their services, trading platforms, and conditions. Choosing the right broker will take care of the technical aspect of trading, allowing you to concentrate on analysing the market and becoming a better trader.
Virtual Assistant (VA)
A virtual assistant is like an office assistant, except the person offers the services online, not in person. You can become a virtual assistant without having special skills, but it’s best to undergo training (it could be completed in a few weeks). As a VA, you’ll likely respond to calls and emails, set up calendars and schedules, create priority lists, and perform tasks your client asks for.
For example, you might be tasked with data entry, research, or creating reports for your clients. You may even have to attend meetings for them and take down notes as a passive attendee.
App creators love to gain third-party opinions and reviews before they push their apps into the market. This creates an earning opportunity for people with a keen eye for detecting errors and testing platforms. You can earn money by testing several apps in a month. Testers earn an average of £33,420 annually, with experienced testers making over £50,000. You don’t need special skills to become an app tester, but you might need to take some courses to become better at testing high-end apps. Some popular platforms to find app testing jobs are Testerwork, Upwork, and Test.io.
Transcriptionists convert audio files into text by typing words and ensuring they are correct. You can earn money offering transcription services to clients across various industries; you only need a headset and a device with stable internet that allows you to type comfortably. Again, Upwork and Fiverr are popular places to get freelance transcription jobs. You can also take exclusive contracts with medical or financial services firms, which typically require a non-disclosure agreement.
If you love designing, you can become a graphics or web designer and earn money from offering your services. You may have to spend months learning design basics and advancing your skills to stand out among other designers. Create a portfolio of designs and direct potential clients to see what you can do. You can niche down to gain expertise and increase your negotiating power.
Treat your work as a business
Whether you trade forex, code, or work as a virtual assistant, treating your work as a business will help you become more profitable, flexible, and a better manager. Read personal development and business management books, and implement them in your work. Learn time management and adopt a strategy to maximise your efforts.
If you have a day job, manage your time and wait to quit until you want to go all in. But you can also go full-time even without other income sources. Learn to manage your finances and avoid unnecessary pressure.
Sum it up
You can start doing many things today to make money right from home. You can begin right now if you already have some skills, but if not, take the next six months to learn a skill and capacity. There is endless potential in working from home, but the freedom to choose your hours and determine your income is an attractive benefit.