What Is the Easiest Way to Make Money Online? Five Online Money-Making Ideas Compared

There are countless online money making ideas from online surveys to online stocks trading. The problem is figuring out the best online money making idea. For anyone asking the question, what is the fastest way to earn money online? This article will provide answers.

Ideas to Make an Extra $1000 a Month Online

1. Freelance Writing

Freelance writing is one of the best ways to take charge of your lifestyle. The promise of ditching the 9-5 and traveling the world or just having more time to spend with your kids is good enough for anyone to jump on the bandwagon. And it’s one of the easiest ventures to break into. You don’t need special skills or huge amounts of experience. All it takes is your laptop, your brain, and a willingness to keep improving on your ability to offer companies and their customers value through the written word. 

Pros

1. It’s a good jumping off point to content director and even marketing director roles.

2. You can build a freelance writing business with less than $100. And you don’t need a lot of training.

Cons

1. You aren’t going to start making $500 per project in your first month as a freelance writer. 

2. It’s harder than it looks. You have to work on weekends (or at least Saturdays) if you want to meet client deadlines–no days off. 

3. You need to chase down clients. As a freelance writer, you’ll need to make time to meet people working in your niche, either online or offline. 

2. Write and Publish a Kindle eBook

Can you thoroughly research a subject; adding in some action points and real life stories? Then, you should consider writing and self-publishing. The Kindle store is available to anyone and reaches a global market. 50% of American adults own a Kindle or some sort of ereader. Anyone can publish a book. And the best thing about publishing through Kindle is that you own full rights to your work, getting paid up to 70% of your royalties. 

Pros

1. Your book is yours, you own full rights and you keep 70% of the payments. You can write on any topic you want to write about instead of what a traditional publishing company wants you to write on. There are no length requirements and there are no deadlines. 

2. Self-publishing on Amazon doesn’t require any money up front. And anyone can publish a book.

Cons

1. You’ll need to hire out aspects of your book design to freelancers. You can do this on your own if you have some design skill. But since this will be the first impression of your book, it’s wise to hire a pro. You can also hire professionals to format your book and edit it.

2. You’ll have to market your eBook on your own. This is the main downside to self-publishing. 

3. The margins on books are small. So, you’ll need to develop a process for publishing books consistently. A writer that has published 20 books is surely going to make more in revenue than a beginner with one or two books on Amazon.

3. Blogging

Blogging is another type of self-publishing that offers even more freedom as regards how you update it and how informal or formal you choose to speak with your audience. A blog doesn’t have to feature only articles, you can have a photo blog or video blog (vlog), which you’d want to syndicate on a platform like YouTube. 

Originally called weblogs, they used to be like online diaries where you can journal about aspects of your day. But now, they’re everywhere and being used predominantly as marketing collateral by B2B and B2C businesses. There are over 600 million blogs online today. One of the problems that the ubiquity of blogging poses is: how do you get your voice heard amidst the noise?

Pros

1. It’s easy to start a blog. All you need is to buy a domain name and host your website, hire a designer and voila! 

2. Blogs can work in tandem with your social media marketing efforts, helping you build an audience.

3. Consistent blogging about a topic will make you an expert or at least create that impression with your readers or viewers.

4. You can talk about anything–share things you’re passionate about or educate your audience about something that interests you. 

5. Consistent blogging on the right keywords helps your website rank high. 

Cons

1. Blogging can be time-consuming. To make money from blogging, you have to get significant, consistent traffic, and systems in place to convert some of this traffic into leads. So, don’t expect to make $1000 per month blogging in your first three months.

2. Getting new content ideas can be a pain. Sometimes, you might find yourself making repetitions or working on wack topics.

3. Blogging in itself won’t generate any money. You have to create a product, do affiliate marketing or pay-per-click advertising, and market your blog via email, blogs, and even paid advertising to make any money.

4. Social Media Management

Most of a brand’s audience is on social media. But managing social media effectively isn’t easy. People are on social media for both entertainment and information. According to some studies, the average person spends one hour and 23 minutes on social media every day. This is why growth-focused brands can’t afford to be lax with engaging customers on social media. For this reason, companies hire social media managers. 

You’ll find a lot of freelance social media manager job postings on job sites like Indeed. These jobs usually require that you’re able to create snackable content for social platforms like Twitter, Infographics (for Pinterest) and trim videos (for IG and Tiktok). At the same time, a social media manager should be able to respond to customer needs, questions. and complaints in real time on all of a brand’s social media accounts. 

Pros

1. You learn many skills on the job as a social media manager. This is why you’ll find social media managers that are also freelance writers.

Cons

1. It can be very stressful since you’re juggling many tasks. For some small teams, you could even take on the role of community manager, where you handle offline events also.

2. Platforms are always changing algorithms. This means that you have to keep learning if you want to achieve good results for clients. 

5. Real Estate Crowdfunding Platforms

As a real estate investor, getting a bank loan might not be the best move for you as loan terms are always a bit more stringent for investors. Hence, investors opt for creative financing options like hard money loans, syndication, HELOCs, rent with purchase options, seller financing etc. You could even start your real estate investing venture on the backs of others. Through real estate wholesaling, you can buy real estate with other people’s money without spending your own.

But what if you just wanted to put about $1000 on a property just like you were investing in stocks? You don’t want any property management obligations, no tenant screening etc. You can do that with real estate crowdfunding.  

Similar to crowdfunding on platforms like Kickstarter, you can put money into real estate investments that seem like they have potential through sites like Fundrise and RichUncle. You can participate in real estate crowdfunding with as little as $500 just like investing in a mutual fund. And compared to the volatile stock market, you’ll be investing with REITs (Real Estate Investment Trusts) that put money into income-producing commercial properties.

Pros

1.  You don’t need to be a millionaire to invest in platforms like RealtyMogul, RichUncle and Fundrise. Traditionally, based on U.S. securities law, REIT investing used to be for people with a net worth of $1 million + or annual income of $200,000+ (300,000+ for couples). Nowadays, it’s available to anyone.

2. Sign up is easy. You just have to provide your address, full name, and social security number and then indicate how you’d like to fund your account. 

3. Platforms like Fundrise offer easy withdrawal options. You can redeem via eReits, eFund and interval funds. Note that interval funds carry no penalty for early redemption.

Cons

1. Real estate is an illiquid asset. This means that withdrawing money might not be as simple as taking money from your brokerage account. 

2. There are some added costs for taxes and management. You should always read the investment disclosures

What’s the Fastest Way to Earn Money Online?

Arguably, the easiest way to make money online in 2021 is through blogging. It requires close to nothing in startup capital and offers good returns. Your success will depend in part on the quality of information you provide and your chosen promotion and monetization methods. 

Now that you know some of the easiest ways to make money online, try them out and see which works best for your goals. 

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