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How to Make an Online Income

Updated on July 28, 2009

Making money online is something that more and more people are trying to do because they are either out of work or they need to supplement their income. This means that it is getting increasingly harder to find work online because there is a lot more competition. Pay is also getting lower as well, so you need to be prepared to work for less money, which is not good. There are a lot of ways of making money online and this article will discuss a few of these options.

Before you decide what method you are going to use to make money online, you need to find out all about it and make sure that you are fully committed to doing it in the long term. It takes time to get the experience, skills and reputation required to make money using the various methods and therefore it is necessary to be prepared to work hard at it. It is probably worth specialising in one area to start with, so that you can learn everything about it and put all of the time you have into it while you are building up your reputation. Once you are confident about doing that then you could look to see whether you can do something else as well.

Here are some of the things that you could consider doing :

  • Selling goods on eBay, Amazon, other online retailer or own website
  • Freelance writing
  • Investing on line in stocks and shares
  • Setting up a blog/website and selling links and articles on it for money
  • Playing games, clicking links or doing offers for money
  • Getting cashback on purchases

This is not an exhaustive list but it gives you an idea of the sorts of things which you coudl consider doing. It is important to think about how much money it would take to set up each of these businesses, how much income you could potentially generate from them and whether you could do better elsewhere.

Advantages of Online Work

  • You can work any hours you want
  • You can fit it easily around a family
  • You can do it in the evenings as well as having a day job
  • You can do it anywhere
  • It is completely flexible
  • You can stop whenever you want

This makes it sound like a fantastic thing to do. However, there are disadvantages too:

  • You may need start up capital
  • You will need to declare your income and may end up paying a lot of tax if it is a secondary income
  • There is no guaranteed work
  • If you are unwell it is unlikely anyone will be able to stand in for you
  • No sick pay or holiday pay
  • If you do not work, you do not get paid
  • The hourly rates tend to be lower than more conventional jobs

It is a case of weighing up the pros and cons and deciding whether you want to give it a go. If you are unemployed then you may not have a choice but to try to earn money somehow or if you have a family to work around you may need the flexibility. However, if you want lots of money then you may be wise looking elsewhere, although there are some people who do very well out of it.

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