How to Make Money in 2020
We are so lucky to live now when it is easier than ever to have multiple income streams. I’ve often shared how I made money on the side including all the ways I have made money from home and how I made $33,277.57 on the side one year. You can also check out The Ultimate Guide to Make and Save Money at Home for all my tips.
Below are 20 ideas you can try in 2020.
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Make Money From Home
Who doesn’t want to make money from home? Being able to work flexibly, around the kids or make money without much effort is appealing. All of these options can be done from home.
The most profitable option for me over the years but it isn’t for everyone. I started years ago but still think it’s a great way to make money if you are dedicated, focused on providing value to your readers and have a plan. Personally, I recommend having a self-hosted WordPress site with SiteGround (all my sites are with them).
Check out full details on how to make money with blogging and how to set one up here. Ads, sponsored posts, your own products and affiliate links are the most common ways bloggers make money. Many also offer services such as coaching, consulting, marketing, virtual assistant services or copywriting.
2. Online Surveys
You can find my list of the best Australian online survey sites here. We’ve tested them all and retest regularly to ensure you will get paid, see how much you’ll be paid and the different ways you can make extra money from them. My favourites have been Octopus Group, Swagbucks and Prize Rebel lately but there are more here.
3. Rent Out A Room
If you have the space, renting a room can be super easy. Use Airbnb, rent to a boarder, use share room groups, list it on Gumtree or rent to someone you know. Personally, Airbnb and renting to people I know has been the best option for me. Be sure to check out this post if you do want to use Airbnb for my top tips. Airbnb is free to join and list, you’ll only pay a fee if someone books and stays at your place.
Alternatively, you can also run tours, offer iconic location photography and similar through Airbnb Experiences.
4. Rent Out Your Garage
As a single mum in Sydney, I rented my room to another single mum to run a business. At other times I rented my garage on Spacer. Most of the time I made $50+ a week which was easy money since I didn’t have to do anything for it.
5. Resell Things
In 2017, I did the #2017FlipChallenge where Gary Vee talked about making money through buying things to resell. In my first month, I made nearly $3,000. By my 4th month, I was making over $10,000 a month. I’ve scaled back on this for a few reasons (I travel too much and make money other ways). You can find my top tips here.
6. Rent Out Your Car
If you live somewhere central, renting your car out through platforms such as Car Next Door can be an option. I’ve used Car Next Door a lot as a customer but haven’t rented my car out personally. I’d recommend trying it as a customer first (get $15 off to do that here), see if you like it then rent your car out.
Freelance writing is one option for making money with writing at home. Many places need regular content and with some qualifications, a portfolio and experience you can start making good money. Check out this post for tips to make money with freelance writing.
Alternatively, create your own eBooks and share them on Amazon as well as other sites, have your own blog, ghostwrite for other people and look at all your options.
8. Virtual Assistant
If you have admin skills or know anything about social media and are organised there are a variety of options for you. Virtual Assistants do everything online others need. It can range from answering emails through to booking travel arrangements, scheduling social media, doing marketing and any number of things. Services you offer will depend on your experience and expertise.
Don’t offer a service you can’t manage but do always look at ways to increase your skills. Check out this post for more information.
Lots of companies offer a referral bonus when you send them new clients. Typically, if you use a service they might have a refer a friend option which gets your friend a discount and you credit or cash. Check the companies and services you use to see which ones offer a refer a friend bonus.
10. Cash Sites
Cash Rewards is my favourite because they have an app and an extension you add to Chrome. Then when you are shopping online it pops up telling you how much cash you can get back with that purchase by activating Cash Rewards. Join free here. Another one is Honey which scans the net for coupons and discounts to use on your purchases. It’s free to join here.
11. Flip Websites
I discovered this as an option in 2014 when others I knew were doing it and I had the opportunity to buy a few sites. The Thrifty Issue was originally purchased with the intention of flipping it but I ended up really loving the community here and wanted to keep it.
When I am looking at sites to flip I check all the statistics from traffic to revenue, DA and other scores. I need to know their reputation, contacts and community so I can work out if it will be easy for me to increase the income and resell it.
I lean towards finance sites as that is what I know and usually buy them for a few hundred and resell for thousands. You can use Flippa to buy and sell websites or you can promote them elsewhere privately.
12. Have A Business
Depending on the type of business, this could be done from home or may require you to work outside the home. Either purchase an existing one or found one yourself. If you want to create one yourself, you can do it for under $100!
Make Money Outside The Home
If you can work outside the home, there are even more options. Whether it is because you want a break from being at home, a different scene or to make more, there is something for everyone.
13. Get A Job
I know it isn’t as easy as deciding you want one and you get it. It sounds basic but don’t dismiss it! If you are paying down debt, saving for a house or need money for whatever reason, getting a second job can really help.
Weigh up the pros and cons for your situation including tax, a decrease in family tax benefits, the cost of childcare etc. But also include the benefits such as other work experience, the potential to train in a new area or gain more skills, more money into superannuation etc. It is not as simple as most think.
As for jobs, hospitality and retail are two with fairly flexible hours and support workers in various industries such as disability don’t require qualifications. Have a look at job sites or LinkedIn to get an idea of what would suit your lifestyle and potential income.
14. Odd Jobs
Domestic chores such as cleaning, ironing and babysitting are always in demand, as are chores such as lawn mowing, gardening and similar work. Alternatively, check out the odd jobs listed on Airtasker to find tasks which suit you or browse Gumtree to see what people need doing. You’d be surprised at what people will pay you to do.
I don’t recommend this option so much because from everyone I have spoken to the income isn’t worth it. Uber takes such a big cut, you are driving around, there is wear and tear on your car. It really gets tricky and there is no guarantee of income. However, if you like driving, have a relatively new car and want to make a bit of cash when you aren’t doing other things, it might be an option for you.
16. Market Research
Whenever I have done market research it has been fairly easy. Answer some questions, test some products, say what you think and get paid $100+ an hour for it. Check out this post for more information.
17. Mystery Shopping
I haven’t personally done this one for a while but others I know do and still enjoy it. Once you have a reputation and credibility you get better jobs and offers. Check out this post for tips on how to do it.
18. Medical Trials
Have you ever wondered about getting paid to do medical or clinical trials? While we don’t get paid for donating blood, eggs or similar like you do in the USA, you can get paid to do clinical trials. I tested it and wrote about it here. The trial I chose paid $4,050 and was for a medication which is used for a condition I have. Be selective and follow my tips.
Maybe not glamorous but certainly, an area which is growing in demand. With more people ordering takeout due to our busy lifestyles, options such as Deliveroo and Ubereats are easy to do. Alternatively, courier driving, delivering pizzas or other delivery options are all great second jobs too.
20. Voiceover Work
Brett is a professional voiceover artist. I have a few friends who make good money as voiceover artists. Everything from radio ads through to podcast intros or social media videos need voiceovers now so there is more of a demand. Check out this post for Brett’s tips.
These are just 20 options, however, there are many more. Check out all the ways to make money here. And join The Thrifty Issue Facebook group to see how others make and save money. Plus read The Ultimate Guide to Make and Save Money at Home.