With millions of Americans feeling the effects of high inflation and less money, there are a few choices that can resolve the issue, (1) either wait for inflation to go away, (2) get a second job, (3) pitch pennies, or (4) make more money. Based on my experiences, most people will choose one of the first three, why? Because they take less effort. In general, people don’t like doing things that require above average effort. But for those who don’t mind putting in a little extra time and effort, there are many options for making extra money part time from home, and here are my top five ways earn extra money parttime from your home based on what I know as high potential earners.
1. Digital Products - Digital products are intangible products that exist in a digital form. These include e-books, online courses, and virtual goods and video games. These products are typically delivered to consumers via download or email and offer a way to provide products without having physical inventory. The potential earning can be anywhere from $1,000 - $5,000 or more monthly, depending on your efforts. Example: A simple digital course that sells for $25 only requires 200 sales to earn $5,000. So, if you have one digital product, you can focus on selling that single product. And if you have two products you only need to sell 100 products each per month.
2. Teach Live or On-line Classes – You don’t need a degree to teach people how to do certain things, especially if it’s something that they want to learn, they will pay for it. Think about what skills you have that other people might want to learn, and if you don’t have a teachable skill find someone who does and pay them to teach you, and you teach others. Example: I teach people how to teach other people about managing their credit. I conduct one on-line class per month with a minimum of ten students and I charge $1,800 per student, $18,000 for about eight hours of teaching. Once these students are trained, they conduct their classes and charge anywhere between $325 - $450 per student. Averaging this down to $300 per student, an instructor can make $6,000 conducting one class of 20 students monthly.
3. Become An Affiliate Marketer - Affiliate marketing is an advertising model in which a company compensates someone for generating sales for the company’s products and services. The third-party affiliates promote and sales the company’s products in person or online. Payments can range from a few dollars up to hundreds of dollars per sale. Find companies that pay $100 or more per sale, and you have a greater potential of earning $5,000 monthly.
4. Become a Coach – You can coach anything if you have some specialized skills or knowledge. If you have experience in automobile sales, you can coach people on how to to make informed purchases and save money when buying an automobile, or you can coach consumers on how to save money when buying clothing, or computers, you set the price depending on how much you would like to make monthly. If this is your side jig, you can charge whatever price is required to make your classes affordable for the average consumer and you don't have to invest a lot of time or money to make it happen.
5. Basic Bookkeeping – Basic bookkeeping doesn’t require lots of accounting or bookkeeping experience or knowledge. You create or have someone create an excel spreadsheet for you and you charge individuals or small businesses to record their financial transactions each month. Your customers send you their receipts for sales and expenses, you record the transactions and send them a summary of the transactions each month. You can charge between $30 - $150 monthly depending on how many entries you have to record. Example: An average billing of $75 monthly will require 67 clients to earn $5,000 monthly for working 10 - 20 hours per month.
As you can see making $5,000 or more monthly is not difficult, you just need to put in the time and effort to make it happen.
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