The internet is filled with adverts about earning money online. Many of these are legitimate, while others can be a scam. In this article, we discuss if it is possible to earn a side income online.
Do you need more money? In these testing financial times, we could all do with a little extra in the bank. Yet many offers for extra income online seem too good to be true, and very often they are. Below, we decide if it is actually possible to earn a side income online.
Setting your expectations
The first step you need to take when trying to earn a side income online is to set your expectations. It is possible to earn the millions many of the adverts you will see are offering. But what they don’t tell you is the effort required to get to that level and time. This may be something you don’t have.
Think about what you hope to achieve from it. Are you looking for a way to supplement your income slightly? Or do you want to begin a side hustle that could later become a full-time business? Knowing this can help you decide the best way to approach a side hustle.
Easy ways to earn a side income online
There are plenty of ways to earn side incomes online. Some may be more applicable to you and the level of time and effort you want to put in.
Giving your opinions
One way to earn extra money online is to provide your opinions on a range of market research-related questions. This method is also very flexible and requires few constraints on your time and resources.
There are plenty of legitimate websites and applications that will reward you for your data, while also managing to keep it safe from attackers and breaches. BrandBee is one of the most well-known. In exchange for your opinions, you can claim a free eBay gift card. The more opinions and surveys you give, the higher the values go.
While many of these do not give out actual cash, they can allow you to purchase a range of consumer goods for the home, your health, and happiness without having to break into your monthly budget. This in itself can free up your budget for very little effort and outlay.
Selling items
The culture of second-hand goods is stronger than ever. Be it upcycling furniture or selling vintage clothing, people want to buy used goods for environmental reasons. Therefore, you can open businesses selling items on platforms like Vinted and eBay and earn a small income.
The downside to this is that you need to have stock to sell. This can involve buying items from outside, which also cuts into your time.
Logistics
Logistics are jobs that involve any sort of transportation. These can be broadly broken down into two categories, which are people and goods.
People means becoming a Lyft or Uber driver. This takes some time to set up, as you will need a private hire license and a decent car and you have to make applications and background checks. When you complete a journey, you are paid by the company.
The second option is transporting goods. It could be dropping off parcels for Evri, or making food deliveries for Deliveroo. You get paid for every package you drop off. You may also be able to do these without a car, using a bike, or small motor scooter.
Both take a lot of time and often, funding, to set up. While it is possible to do it on weekends and evenings around a main job, it is more suitable if you are planning on a long-term side hustle as opposed to a quick way to make money.
The cons of making money online
Making money online is not all wine and roses. It can be very hard. You may see pictures of people sitting on beaches drinking cocktails or driving expensive cars, but this is seldom the truth.
Making money online, even with small side hustles, takes a lot of time and effort. Think about crafting three high-quality social media posts each day to advertise your sales business. That is already between half an hour to an hour of your time. Then add any accounts and office tasks, do the customer services, and post any orders. This is before you get down to providing the actual service, be it designing or creating a product.
If you are running this alongside a day job, then the hours in the week suddenly become fewer and fewer. When you are running a household and a family, you will find yourself working late into the night. This can result in burnout and you may find it hard to fit in activities with family and friends.
Another downside is that the world of online moneymaking is vastly overcrowded. For every taxi service or print-on-demand t-shirt company that starts, 100 or more others will already be there selling the same product.
Earning a side income is possible. However, like any occupation, you need to put time and effort into getting the best results. You are not going to earn millions doing very little. Set your expectations and find a side hustle that suits your lifestyle. Even a little may free up your monthly budget and relieve some of the financial strain.
