How to Make Money online
Making money online is appealing, especially if you want to generate passive income, increase your savings, or seek self-employment. But, exactly, how do you turn your computer and internet connection into a source of income? And how can you know which opportunities are legitimate and which aren't?
NerdWallet has looked into it and compiled a list of eleven legitimate online money-making opportunities in Canada, as well as some concerns to bear in mind and an estimate of the resources you'll need to get started.
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1. Offer collectibles for sale
Accounts on Ebay, Kijiji, and Facebook are all free, and you may use them to sell collectibles practically instantly. The quality, uniqueness, and amount of demand of your item are the keys to generating money when selling collectibles online. Sell to fellow collectors in Facebook groups, and gather items that don't deteriorate quickly and preserve their worth. Know the market before you list (don't simply look at the asking price; look at what similar goods sold for). Finally, selling shipping can help you extend your market, but you must be aware of the costs in order to prevent losing money.
Collectibles, a camera, and a Kijiji, Amazon Marketplace, eBay, Facebook Marketplace, Craigslist, or similar site seller account are required.
2. Start looking for freelancing work
Opportunities for freelance writers, editors, graphic designers, web designers, coders, and other creatives with abilities that may be done online can be found on Upwork, Workmarket, Fiverr, Freelancer.ca, Indeed, LinkedIn, and other comparable employment sites. In order to explore postings and bid or apply for the freelance work you desire, most sites like these will require you to create an account.
To freelance in Canada, you must have a Social Insurance Number. Fiverr (13), Upwork (18), Workmarket (18), Freelancer.ca (16), and LinkedIn all have a minimum age requirement (16 to use the site and 18 to offer services for a job).
3. Use print-on-demand platforms to sell your artwork.
Print-on-demand companies let you to put your designs on t-shirts, mugs, posters, smartphone covers, and more without having to worry about inventory or shipping. Print-on-demand services in Canada include RedBubble, Printful, Teehatch, Art of Where, Ottawa Custom Clothing, and Printify, to name a few. The site makes printing, payment processing, and shipping easier when someone purchases your goods. When you sell an item, you will usually earn a share of the proceeds as the artist.
Print-on-demand sites often need a minimum pixel count and that your design does not infringe on any copyright, in addition to a minimum age (unless given permission by a parent or guardian if you're between the ages of 18 and 13).
4. Establish yourself as a dropshipper.
Dropshipping is similar to print-on-demand, only you sell things instead of designs. You don't, however, have any tangible inventory. You work with a reputable wholesaler to handle and ship orders instead. The amount of money you may make as a dropshipper depends a lot on your items, market, and marketing efforts. Initial costs can be high ($700 on the low end and $3,300 on the high end), and profit margins are typically low, but if you focus on selling something unique and partner with a well-known brand or distributor who sells quality products as advertised (rather than cheap knockoffs), you may find success.
Online shop, relationships with renowned brand wholesalers/distributors, and a budget for online promotion are all requirements.
5. Use Airbnb or VRBO to rent out a room.
You may offer a room in your house as a short-term rental on sites like Airbnb or VRBO, depending on local rules. There are no account fees, and listing is as simple as posting pictures, availability, and a description. Airbnb takes a 3% fee from every booking, while VRBO takes a 5% commission and a 3% fee for payment processing, but there are no account fees and listing is as simple as posting pictures, availability, and a description. You'll need to factor in usual house expenditures, as well as supplementary insurance and your own sanity, when determining your rate (bad guests can slip through).
Requirements: A short-term rental room with adequate time to keep it clean and provide amenities. As necessary, proper licenses and insurance.
6. Webcam tutoring
Turn your existing skills in math, English, science, exam prep, or a foreign language into a profession instructing students all over the world from the convenience of your own home or in person. You may make money by assisting children, teenagers, and even adults in excelling in a topic on sites like SuperProf.ca, VIPKid, Preply, and Skooli. Depending on which service you utilize, the amount you'll make per lesson or per hour may vary.
Webcam, microphone, tutoring ad with previous experience and credentials, address and phone number in a suitable nation are all required.
7. Participate in online surveys
Many businesses value the thoughts and preferences of Canadians like you, and they're prepared to pay for them. Survey Junkie Canada, Swagbucks Canada, Daily Rewards Canada, Lifepoints Canada, and Maru Voice Canada all enable you to establish a free profile and then ask you to participate in surveys. You can gain cash or points in return for up to an hour of your time, which may be exchanged for gift cards, for example. Taking online surveys is unlikely to replace a full-time work because the compensation ranges from $0.50 to $10 each survey, but it may be a method to supplement your income in your leisure time. However, be aware that there are several fraudulent survey sites and services available. Read reviews before signing up for a survey site that requires you to pay to create a profile.
Requirements: A computer or mobile device with internet connection, an email account, and a method of online payment, such as Paypal.
8. Submit your photographs to a stock photo provider.
Selling photographs to a stock photography agency online might be worthwhile if you like photography and want to start creating an online profile as a photographer. You may make an account and post photographs to sites like 500px.com, Foap.com, Adobe Stock, Dreamstime, and Crestock. Depending on whatever site you pick, the payment method and amount will differ. In general, the more frequently your photographs are downloaded, the more money you'll make.
Requirements: A phone or camera capable of shooting high-quality photos, time, an internet connection, and the ability to take online payments, such as through Paypal, are all required.
9. Take on the role of a virtual assistant.
Do you consider yourself a multi-talented individual? Do you have a knack for multitasking? Do you get a rush from assisting others in being more organized and completing their to-do lists? A career as a virtual assistant might be ideal for you. You may make money assisting customers with a variety of activities by joining up for websites like Upwork, Virtual Assistant Canada, and Virtual Gurus. You can work from almost anywhere and establish your own hours.
Phone and computer/internet connectivity are required, as well as a location in Canada. You may be required to demonstrate prior professional experience and/or post-secondary education, be present during business hours, and pass a series of skill tests as well as an interview.
10. Reuse and recycle your clothing
You may have some great clothing in your closet that haven't seen the light of day in a long time if you've been working from home or simply not venturing out as much during the epidemic. Your gently worn clothing may be transformed into extra income instead of accumulating dust. Poshmark, Vestiaire Collective, The Upside, Effortless, and Depop are examples of online consignment and resale firms that are often free to use. Simply register and mail in or list your clothing. Each site is different, but you'll usually get paid a percentage of the sales.
Requirements: In excellent condition brand name or vintage apparel, an online connection, the capacity to mail or transport clothing to a physical place, and patience (sometimes it takes a while for things to sell).
11. Pursue a career as a translator
You might be able to make money performing translation work online if you're proficient in many languages or studied a foreign language in post-secondary education. Interpreters and translators are frequently sought on sites such as Upwork, Gengo, Pro Translating, LanguageLine Solutions, and Languages Unlimited. Work may be full-time, freelance, or on a per-job basis, depending on the firm you apply with. You may be required to submit translation examples or pass a reading and writing competency test.
Bilingualism, an internet connection, a computer, and sometimes headphones or recording equipment are all required.
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