In the past, many said that it was impossible to make money with the internet. Today, however, countless people are now earning their living through it. The same was also said about podcasting. Again, there are people whose main source of income is podcasting.
While you can find many reports on this, some podcasters prefer not to publish the reports of their earnings. Making money using a podcast works pretty much like any other internet property. Make content that attracts people then monetize that traffic. More traffic translates to more opportunities for making cash.
Sponsorships is the most common method in podcasting. It is also easier to implement than the others. Basically, it involves getting paid by an advertiser to mention their service or product on their show. Sponsors always look for a podcast with traffic. If the traffic is niche-focused, the better. Advertisers will get in touch with you if you have the numbers. Blubrry and Libsyn offer their clients opportunities for advertising. Others like Midroll also get you in touch with advertisers. Note that podcast hosts get a cut of your revenue.
Advertisers have realized that podcasting is growing fast. You can choose to maximize your profits by cutting out the middleman. This means finding sponsors on your own. What is your niche? What services or products would suit the product? One other good thing about finding advertisers on your own is the fact that you get to negotiate the rate. Instead of diluting your show’s integrity selling other people’s stuff, promote your own work.
There are two main reasons why this is a good idea. First, you will keep most of the profits and not just get a small percentage. Second, you will enjoy free traffic. This money-making method can be quite lucrative. Among the products you can sell include video series, courses, and eBooks. Services include design, writing, and coaching. Once you have decided on a product or service, drive traffic to the sales funnel using your podcast. You can promote yourself as well.
If you believe in your expertise in the niche and promote yourself as a guru, it will be easier to get gigs, sell your books, or get coaching clients. The best way to advertise yourself is by sharing your skills and knowledge with listeners. Your credibility will grow with your audience. Premium content can see your listeners become paying customers. Offer things such as a subscription service, past episodes’ catalog, exclusive episodes, or a paid community.
A good example is recording an episode, playing a portion for free, then having listeners pay for the rest of it. People can be very generous. If your show adds value to listeners, they will have no problem donating just to show appreciation. Ask nicely and be likable. When you decide to do this, make the donation process quick and easy.
Watch Videos Online and Get Paid
Did you know that InboxDollar pays people to watch the latest news, celebrity videos, movie previews and other videos? Additionally, when you sign up you will get a $5 bonus.
Hidden Money in Your Inbox
You can do this with Paribus. It checks for receipts in your email and you get a refund if you were overcharged for any item.
Get Paid for Your Opinion
Sign up for online survey platforms such as VIP Voice, Survey Junkie, MyPoints and Swagbucks.
Perform Random Google Searches and Earn $12/Hour
Apply for the job on companies such as Lionbridge.
Play Scratch-Off Tickets
Scratch for free on the Luckstatic app.
Invest in Real Estate
Fundrise can help you start with just $500.
Become a Part-time Bookkeeper
You only need passion and computer skills. Median will pay you $9/hour for this.
Earn Cash Back
Download Ibotta for free and enjoy the benefits.
Invest in the Cannabis Industry
You will not need a lot of money if you use Stash.
Invest with $10 Only
Download a free micro investing app called Worthy.
Join a Mock Jury
Become an online juror through eJury.
Sell Vintage Finds and Crafts
Join eBay and Etsy.
Start a Blog
Create a blog and monetize it.
Become a Virtual Assistant
Help someone organize their life from your home.
Sell Old Books
Make money off old textbooks via Amazon Trade-in, eBay or Craigslist.
Become a User Tester
People are willing to pay to test their apps and websites.
Sell Your Photos
Take photos with your phone and sell them on Foap.
Get into Freelancing
Try web development, accounting or writing.
Rent out Your Ping-Pong Table
Use websites such as Zilok.
Monetize Your Doodles
Market your art on social media. Start small and move from there.
Cash Out on YouTube Videos
Upload videos on YouTube and monetize using Google AdSense.
Rent Out Your Clothes
If you have a trendy wardrobe, rent out some of your clothes on sites like Style Lend.
Write Love Letters
People still send greeting cards in this age. Get paid for your photos, art or words.
Sign up on Voices.com and start making money.
Addressing one envelope may not bring in much, but you can book a wedding and send out handwritten invites.
Design PowerPoint Presentations
Design infographics and custom presentations for speakers and businesses.
Write an eBook
Turn your story or idea into a book, self-publish and sell on Amazon.
Sell Your Trash
You can sell almost everything in your trash bag including old newspapers and wine bottles.
Teach English to kids from other countries from your couch. Join VIPKIDS and QKids.
Become a Data-Entry Clerk
Look for gigs on Clickworker and Smart Crowd.
Apply for a New Credit Card
Sign-up bonuses are worth taking advantage of. Just make sure you pay the card balance in full every month and you have an excellent credit score.
Create an Online Course
Sign-up on Udemy for this.
When starting out, most freelancers have no idea that they can deduct their home office (even when it is not a separate room). They do not know that if they travel miles to see a client, that is a business expense.
The IRS will never bother telling you when you miss deductions so you have to educate yourself.
Other than deductions, gig workers, self-employed people and independent contractors are at a risk of falling into other tax pitfalls. One of the biggest issues is not knowing what amount you should pay in taxes.
What Kind of Taxes Do You Have to Pay as a Side Hustler?
Unlike employed people, gig workers do not receive their paycheck with the taxes already deducted. They are the ones that decide how much they will pay to the IRS.
The self-employment tax (Medicare and Social Security taxes combined) is fixed at 15.3%. If you look at an employee’s paycheck, you will see that they pay almost half of this—it is because their employers pay half of it for them. Being both the employee and the employer, you have to take care of the amount all by yourself.
On to federal income tax. The amount you pay in taxes depends on what you make annually. See the 2018 single filer tax brackets:
- 10% (earning $1 – $9525)
- 12% ($9526 – $38700)
- 22% ($38701 – $82500)
- 24% (82,501 – $157,500)
- 32% ($157,501 – $200,000)
- 35% ($200,001 – $500,000)
- 37% (Over $500,000)
These rates apply to your taxable income (after factoring in deductions, eligible tax credits and self-employment tax).
Unfortunately, there are still more taxes that you have to pay as a side hustler apart from those mentioned above. In some states, you will be required to pay state income tax. There are some areas where you have to pay local income tax too. Check the tax rate of your state.
What Does the New Tax Cuts and Jobs Act Mean for Side Gigs?
The 2017 Tax Cuts and Jobs Act offers freelancers additional deductions to take advantage of. You can check them out on the IRS website.
How Much Money Should You Set Aside for Taxes?
For every dollar you earn, save 30%. It is better to overpay and get a refund than have to pay more.
Do You Need to Pay Estimated Quarterly Taxes?
Self-employment taxes and federal income taxes are on a “pay-as-you-go” basis. Pay quarterly if you expect to owe $1000+ in annual taxes.
Here are the quarterly taxes due dates:
- April 15 for January 1 to March 31
- June 15 for April 1 to May 31
- September 15 for June 1 to August 31
- January 15 for September 1 to December 31
What Forms Should You File for Your Freelance Taxes?
The IRS considers you self-employed.
You will need the following forms:
- Form 1040
- Schedule C
- Schedule SE
- Form 1040-ES
Always monitor the expenses that you can deduct.
Anyone can create a business online and make money from it. All you need is a computer.
You have the freedom to work as much or as little as you like, set a flexible schedule and live wherever you want.
Another good thing about an online business is that you don’t need a lot of capital to start. Some of them don’t require any capital at all.
Here are the top five ways to create an online business with little or no money.
With a drop shipping business model, small business owners don’t need to maintain an inventory or even deliver products. They get to eliminate the risk and financial cost of operating a warehouse.
You can sell products without manufacturing or storing them.
Your main job will be to advertise and market the business so you can boost sales. Once a customer makes an order, other people handle the rest of the process for you.
This is how the model works:
- You sign up as a seller on a platform like Etsy, eBay or Amazon and list your products.
- When a customer places an order, you buy the item from a wholesaler or manufacturer at a lower price. It is like forwarding your customer’s order to the manufacturer.
- The drop shipper will then send your customer the product.
The main challenge with this business is that you need to find a reliable drop shipper and the market is competitive.
This is another e-commerce model that does not require you to maintain an inventory.
First, you choose a profitable niche. Next, look for an affiliate partner that stocks products in that niche. CJ Affiliate by Conversant, Amazon.com and Clickbank.com are some of the widely known affiliate sites.
Once you get an affiliate partner, you can offer their products on your website or blog with a unique link.
When a potential customer clicks on the link, they will be directed to your partner’s cart for checkout. If they buy the product, you earn a commission.
Some services like WordPress and Blogger allow you to start a blog for free. The better option is to create your own site (hosting is not that expensive).
A blog does not have to be about written posts. You can share links, news, videos and photos. Anything in your niche can work.
The key point is to post content that is original and beneficial to your audience.
To make money with the blog, try the following:
- Google AdSense
- Blog ad networks
- Affiliate marketing
YouTube is a popular site and you can use it to make some money.
Create useful content in your favorite niche. Sign up and begin uploading videos. When you start getting viewers, enable monetization. Google will place ads in your videos.
You don’t have to sell a physical product.
Digital information products offer a quick and easy way to make some cash. Popular formats include:
- Text (like an eBook)
- Video (interviews, webinars, etc.)
Making money with articles is not as hard as it seems. When you are trying to make money with articles, you don’t really need previous career related experience. You can learn everything you need to know from the Internet. You can learn new skills along the way to make your living online. You can become an expert in one area by picking up new skills gradually.
When you are writing articles, you have to keep your readers in mind. A lot of the readers scan through article rather than reading it. So your article should consist of a good title, plenty of subtitles and bullet points. A good title should draw readers’ attention quickly and bullet points will make them easy to find the information they are looking for.
Make money with articles is easy.
- What to Sell: You have to decide what product you want to promote and make money. You can sign up for clickbank.com or CommissionJunction.com as an affiliate. Here you can find a lot of good products to sell. You can choose something you know a bit about or something you like but please make sure it is a top product in its category.
- Research Keywords: Next, you need to know how to choose keywords that can help you get a good amount of traffic, without being too competitive to get on the first or second page. Keyword Suggestion Tool is a handy little tool that will help you to determine which phrases are searched most often on both Wordtracker and Overture.
- Write An Article: Then you can write an article about the subject of the product you chose. You should carefully calculate the keyword density for SEO purposes. At the end of each article, don’t forget to include a resource box with your affiliate link that you are promoting.
- Submit the Article: Submit that article to every free article directory you can find. You may want to modify the resource box, title or some words in one of the paragraph slightly with each submission.
It’s fairly easy and everyone should do it. Best of all, it doesn’t cost you a cent.
Repeat these steps until you are earning more than $100 a week. Once you start earning more than $100 a week, you can spend some of your earnings hiring freelance writers to write for you. These freelance writers will ghost write articles for you and you own the copyrights of these articles.
You can also invest some money on article submission software or getting an article submission service. Ghostwriting and submission service allow you to spend more time working on other aspects of your online business and make more money.
There are many ways to make money online today, and thousands of people are earning a substantial income from the comfort of their own homes. How are they making money? With a successful Internet business, of course!
Perhaps you want to earn a part-time income from home or start a full-time Internet business. Maybe you’re a mom who wants to stay home while earning a living. Or, maybe you’re sick and tired of the “rat race” and want to settle down with your own home business. Whatever the case, you can choose one of the sure-fire methods of making money online below to get started.
- Offer Services That Other Web Business Owners Will Need
Many people earn money online while offering services that other Web business owners need on a continual basis. These services include Web hosting, domain name registration, web design, and content writing. Every new website must have a Web host, domain name, web designer and content. These services are available everywhere online, but fortunately, there’s always room for a few more! Online users are starting new Internet businesses every day. So, the potential for making money online with these services is tremendous.
You can start from scratch with these businesses or find a company that allows you to resell its products and services. For instance, instead of setting up your own servers to become a Web host, you can become a reseller of hosting services and share a part of the profits. With this setup, your primary job is to promote the service. The parent Web host company does the rest.
- Expand Your Present Business
If you already own a business, you can expand it by using a website. If your company has its own website, your customers can go online to learn more about you, buy your products or ask questions. It’s a great way to advertise and build customer trust. Also, you can mention your website address in all your print, television and radio advertising to maximize results.
- Start a “Niche” Internet Business
Many people start small Internet businesses that reflect who they are or what they enjoy. The word “niche” took on a whole new meaning when the Internet came into existence. A niche business can be anything you want it to be – an online flower shop, online classic car club, online magazine, online clothing store, online shopping mall, online photo stock agency, online candy store, online quilt outlet, or an online shoe store. Choose something you enjoy doing and find a way to build a small Internet business around that theme. And, don’t let the word “small” fool you. Owning a small business is a great way to make money on the Internet!
- Earn Money Online Through Auctions
Don’t have time to manage a website? Try online auctions. You can sell just about anything at eBay and other Internet auction sites, but be sure you choose a market that has a strong demand. Some items sell well through auctions, some don’t. Also, be sure to choose a product with a high profit margin so you don’t lose money each time you list your items.
- Provide Internet Marketing Services
Online company owners are always looking for effective ways to promote their websites. If you’re a savvy Internet marketer, this business offers a tremendous money opportunity for you. You can earn money online while helping others increase their profits. Internet marketing today involves search engine promotion and SEO, Web content and optimization for article pages, pay-per-click campaigns, keyword research, press releases, banner and pop-up advertising, e-zine and mailing lists, and link exchanges. You can specialize in one of these areas or offer marketing techniques for all categories.
These are five proven ways to make money online. Each of these opportunities can provide a steady stream of income if you work diligently to promote your online business and services and always provide excellent customer service. Use these ideas to get started making money today!
Side gigs or side hustles are small jobs outside your day job. These hustles can help you earn some extra cash or pay off your debts. Through these small jobs you can also explore passions and unused skills.
Common Characteristics of the Best Side Hustles
Flexibility: a side hustle should not interfere with your regular job. The first thing you should look for in a side gig is flexibility. Enjoyable: whatever you settle on as a side hustle should be something that you find enjoyable. Most of your free time will be spent doing it so it might as well be an activity that fits your interests and personality. Low cost of entry: some gigs will require a significant amount of capital. Your side hustle should bring in more money than it costs you.
10 Great Side Hustles
You can bring in a good amount of money using your car. Lyft, Uber and other rideshare companies are constantly looking for drivers. You will need a four-door vehicle with a five-people capacity, vehicle insurance and registration. You also must pass driving and criminal background checks. You cannot be below 21 years old. The average earning for drivers is $25 an hour.
If you do not like to have strangers in your car, you can opt for meal delivery. Services that allow for this side hustle include DoorDash, Grubhub and Ubereats.
Make use of any special skills by signing up on a freelance network. Upwork and Fiverr are some of the platforms through which you can charge money for your financial consulting, digital marketing, coding, graphic design, and copywriting skills.
Rent an Airbnb
Why let a spare room just sit there when you can make money with it? You will have a chance of making a good amount of money especially if your place is desirable.
This is a side hustle that allows you to impart skills while making money at the same time. You can sign up on online tutoring companies (TutorMe, Brainfuse, Tutor.com, etc.) and teach several topics. The pay is usually $9 to $25.
Companies such as Italki, QKids and VIPKid connect instructors in the U.S with students who desire to learn English as their second language.
Sell Craft Goods
Service jobs are not the only side hustles available. A myriad of online platforms such as Amazon Handmade, Shopify, eBay, and Etsy allow you to sell handmade goods from the comfort of your home.
Many people do not like to go to the supermarket. You can help them and earn money in the process using Shipt, Instacart and other grocery delivery services.
Create Online Courses
Create an online course on a subject that you are very good at. Udemy is a great place to start.
Sell T-Shirts Online
Upload your eye-catching or catchy slogans on RedBubble, Printful or Amazon Merch and sell without going through the trouble of shipping and inventory.