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How to make money online in Australia
The 8 best ways to earn money online and from your home.
Thanks to the internet, there's hundreds of ways you can make some money online. And with the cost of living so high, every extra dollar goes a long way.
Whether you need to replace your income or you're simply trying to earn some extra cash on the side, we've picked out 8 easy ways you could earn some extra income online.
1. Participate in market research
Taking part in market research is one of the easiest, most effective ways to make a bit of extra money. Not only that, but it can often be done from home, and can even prove to be a bit of fun. Simply sign up with a market research company and then complete the questionnaires they send you to express your interest.
While you'll need to meet specific criteria to be selected for most market research studies, there's enough of them happening that you're likely to qualify for at least 1 or 2 a week. If so, you could be looking at a couple of hundreds of dollars for a couple of hours of relatively easy work.
2. Sell your unwanted possessions
Chances are you have a lot of unused stuff lying around your house that could actually fetch a decent amount if you decided to sell it. You can use sites like Gumtree, Facebook Marketplace or eBay to sell pretty much anything; from clothes you no longer wear, book you've already read to bikes, old ski gear, kitchen appliances and furniture.
You'd be surprised what people will buy, and your old junk might just be someone else's treasure. And with inflation rising around the world, the demand for second hand goods is as high as it's been in a long time.
3. Get a HISA or term deposit
Interest rates in Australia are slowly rising, which is bad news for homeowners, but good news for those wanting to earn more on their savings. You can currently get more than 4% p.a. with a high interest savings account, but may need to meet some requirements to be eligible for the highest rates.
Unfortunately, savings rate remain significantly below inflation, so while you'll be earning interest, you'll still be down in real terms.
4. Start user testing
Like market research, user testing can be a convenient and interesting way to make additional income from home. If you sign up with a site like UserTesting, you'll get paid to help test apps, websites, new products and prototypes and offer your feedback.
5. Set up an online store or eCommerce site
This one requires a bit more legwork than other methods on this list, but the potential payoff is greater. Websites like Shopify have made it easy to build an eCommerce site to sell products on.
Creating and selling goods you know and are passionate about is a good way to start. That's because there's likely to be other people out there who love it as well. You can get a 14-day free trial on Shopify here.
Think of some of things people might want during this time to keep them occupied whilst at home e.g. plants, candles, games, sound systems etc. You could even pivot your focus sell digital products like E-cards, E-books, online training.
6. Rent out your room or car
Most of us are familiar with platforms like Airbnb and Car Next Door as customers, but they're also a great source of potential income if you have a property or vehicle you are happy to rent out. Rental demand is also extremely high in Australia, so if you have a spare room then it's worth looking into renting it out.
7. Become a tutor
You can tutor students online in a range of topics, from maths or English to computer science or a foreign language. Sites like LearnMate allow you to register to become an online tutor in the subject area of your choice.
8. Work as a freelancer
If you've got writing experience, you could get some freelance writing work with a number of publications and websites.
Take a look through popular job sites like Seek or the jobs section on LinkedIn for thee roles. Keep in mind these roles aren't always advertised, so you might be better off emailing the company directly and asking if there's any online freelance work available.
There's also a bunch of online platforms that make it easy for freelancers to find jobs.
Other ways to make money from home
Invest in the stock market
Share trading can a lucrative business, if you're willing to take on a little risk. During these times, a lot of the market is expected to crash - which may be a good time to get in. There's also a few stocks that may even perform well.
Thanks to trading platforms such as IG or Selfwealth, you can can trade stocks from your own living room online. For a less risky stock market alternative, you can invest in exchange traded funds (ETFs), to access multiple company stocks in the one trade. Just remember, while there's plenty of money to be made, there's also plenty to lose in these times.
Become an affiliate marketer
If you have a website or blog, affiliate marketing can help you earn some money from referring products and services via your site. The affiliate site will give you a personalised link to place on your various sites, and every time a sale is made through that link you earn a small portion of the profit.
Start a YouTube channel
If you've got a certain skill set, or your have a niche hobby or passion that others might be interested in, try posting some videos to YouTube. For example if you're really into fishing, you could try posting some videos with tips and tricks for catching the best fish. Once you've built up a bit of an audience, you can start to make money through advertising.
Write e-books
If you're an expert in an area that is of interest to a large audience, consider penning a book and self-publishing it through Amazon. For example, do you have a lot of knowledge about the stock market and investing? Do you know a lot about cooking, and have a bunch of your own recipes to share?
Use sponsored posts
If you've got a decent social media following (maybe you have a few thousand Instagram followers?) some brands would be keen to pay you to post about their products. Try approaching a few smaller brands first, and make sure they align with your existing content. For example if a lot of your Instagram posts are images of you at the snow skiing, a small ski gear band would be a good place to start.
Sell things on Etsy
Esty is similar to eBay except it focuses on handmade crafts instead of goods and services. If you have a knack for arts and crafts, Etsy provides you with a popular forum to sell them in.
Sell a small service
A site like Fiverr gives you the chance to earn money with a specialised skill. These jobs, or gigs, include services like recording voice overs, translating documents into another language, creating short videos or promotional materials.
Sell your photos
Stock photos have become a big business online, and sites like Alamy are set up to help you sell yours. They post your pictures in their virtual store and share a percentage of any sales with you.
Complete tasks on Airtasker
Airtasker allows people to post jobs or tasks for others in the community to complete. As well as physical tasks like cleaning or helping someone move houses, there's also a huge variety of tasks that you can complete online. You'll find tasks like writing resumes, translating documents, graphic design jobs, building websites and more.
Sell software
The majority of the software and apps we use are made by big companies but if you can build something that helps people in some way, there's a huge chance it'll be very profitable. From a consumer or specialist app to a fun game, there's plenty of opportunities to make money building and selling software.
Start your own podcast
Podcasts can be a great way to build an audience and make money online. Everyday it seems like there's a new podcast that appeals to a specific niche. It can be difficult to make money quickly, but if you build up a big enough audience over time you can attract advertisers.
Become a virtual assistant
Lots of online businesses need help with different tasks, from graphic design to something as simple as replying to emails. Virtual assistants can be a great way to make some extra money online in your spare time.
Watch: 6 in-demand hobbies you can make money from in 2021
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