Ever Wonder If There’s A Best Way To Earn Money Online?
You’ve heard a lot about millennials who earn money online, promoting other peoples products, and you have always treated this as special cases that only happens to a few select lucky ones.
But the story nobody’s talking about is how you too can start earning money online, even if you have little to no skills.
In fact, the method I am about to share with you in this post is the second most preferred way to start earning money online as a beginner.
This method of making money, receive tens of thousands in orders on platforms where equal opportunities for both experienced and newcomers in the industry have equal chances of earning an income Online as equals.
It’s steady, not trendy. But you can bet that it’s profitable when done right. The skill set I am on about is arbitrage also known as FREELANCING niche.
According to a recently published report, of 2018 by the McKinsey Global Institute, “Independent work shows that the gig economy enjoys a 20-30 percent of the combined workforce of the United States and Europe.
More and more millennials have engaged in independent work over the past 12 months. And if you have been sitting on the fence, you should know that opportunities to earn money online are rife.
How Can You Earn Money Online As A Student?
There are really only three ways to earn money, and the responsibility to choose how you earn money lies with you as an individual. And the choices you make when deciding your preferred income streams has a profound impact on your livelihood.
- You can earn money through an active income stream
ACTIVE INCOME STREAM
Your income is said to be an active income stream when that income is derived from actively performing a service.
So if you have a job where you get a weekly or monthly wage, tips, salaries, commissions, and any other revenue stream (income from businesses) in which material participation is demanded, that is an active income.
Think of professions like becoming an accountant who works for a monthly paycheck or a cosmetic surgeon who clocks in and out to receive a wage, that is an active income.
- #2: Earn money through a passive income stream
What Is Passive Income?
Passive income is when you do the job once and get a recurring income stream from your work over and over, with little to no need for maintenance needed.
A lot has been said about passive income streams, some people say passive income is a myth!
In fact, they are convinced that there is no way to earn money through passive income streams… Well, it depends on your mindset!
If you grew up in a family, whose values and beliefs are built around the idea of going to school, getting an education with the intent of getting good job prospects, surely you are likely to believe that the only way to earn money is to have a 9-5 cubicle job.
But… If you grew up around folks who believe that you can do better when you own the fishing rod rather than let others put fish on the table for you, it’s really easy to see opportunities where a passive income is possible regardless of the challenges!
Is Passive Income Possible With No Experience?
Passive income streams are leveraged systems of our times where job opportunities for anyone to do once and continue to get paid over and over, without the need for you to show up in order to keep the income stream coming is possible even if you have no experience.
Some passive income requires a minimal maintainance threshold, while others are a set and forget.
What Are Some Examples Of Passive Income?
Starting and growing a wildly profitable business is one of the Passive income examples you can have, they include:
- Private or public business partnerships,
- Portfolio income through real estate, Mutual funds, Stocks, Bond funds, Annuities, and I
How do you make passive income?
As a beginner, you can make passive income by building assets that have the potential to earn income passively long or short term.
- These include starting a niche blogging business,
- Building an asset portfolio of investments comprised of varied financial instruments as well as real estate contracts in management
, Realestate acquisitions or real estate capital investments.
Whichever way you choose, there is a process and it is going to take some time to get on the ladder and start seeing the results!
Unless you inherit wealth, your journey to passive income will surely begin with an active income that slowly grows into passive income.
All in all, Passive income is not a myth or somewhat reserved for the rich, it is when you put in the work first, then after frontloading, you can sit back and watch the money as it starts to flow from left and right with little to no maintenance!
The best way to start making passive income is to organize your income streams into short and long term goals of between 2 to 5-year income goals( the roadmap to passive income foundation stag).
Side hustles are the ingenious ways millennials are using to test and build passive income streams while working a 9-5 job.
So if you have been dreaming about starting a fashion blog, flipping burgers at Mcdonalds while you are building your social media influence and a fashion blog is the best way to start your journey to passive income freedom.
Let’s face it, not everyone is happy to start with burger flipping at Mcdonalds. And, if that’s you, starting to earn $100 /per day freelancing is another option for you!
With platforms like Upwork and Clear voice, finding freelance work is a lot easier than you think!
Here’s how it works to start earning $100 per day as a freelancer;
Head over to clear voice home page and on the homepage, scroll halfway down to locate the Freelancers start button.
When you are ready, complete the application form and your profile to start receiving job offers from punters.
The trick here is to make sure that your profile matches the skill sets you intend to promote or start and grow your passive income down the road.
If your side hustle is graphic design, your profile should include graphic design, Pinterest and social media posts inside your professional description.
What If You Have No Skills or Fall Short?
The beauty of freelancing is that you can start generating money in skill areas you either just have no ability or simply want to keep your hands’ clean while earning a decent income through arbitrage.
Now, if you are new to arbitrage, this is where you take advantage of price variation from two different marketplaces, which allows you to buy low and sell for a higher price.
This practice is very common in the financial markets where currencies are traded, and by borrowing this concept of arbitrage, it allows you to take a position on a market otherwise you would have not been able to take advantage.
When you receive a job from your freelance marketplace, you simply flip over the job to the lowest bidder and keep the spread as your profit.