Average Net Worth of the 1%: Here's how much the super-rich in the world are really worth

 

Many people perceive being wealthy as having nice houses and a pleasure yacht. But the kind of money that the wealthiest 1% of the world's households has dwarfs this concept. This segment of the population large portions of major corporations, multibillion-dollar investment funds, islands in the Caribbean, and even rocket ships taking them into outer space.

The average net worth of the 1%, aka the richest 1% of the global population's households, has mushroomed over the past two decades. It now towers higher above the net worth of the average citizen than ever before. Here are some of the basic facts about how the 1% lives.

KEY TAKEAWAYS

The minimum net worth of the top 1% is roughly $11.1 million.

A person would need to earn an average of $823,763 per year in order to join the top 1%.

The widening gaps in wealth and income stem from a variety of factors, including the wealthiest's increasing dominance of public and private equity, and tax breaks.

Demographic Breakdown

Before looking at the demographics of the top 1%, it's important to understand just how much this portion of the population earns. According to the Economic Policy Institute, gaining entry into the top 1% club requires an average annual income of $823,763.

That's a far cry from the annual income of $40,085 reported by the average taxpayer (the bottom 90%). Those who want to become part of the top 0.01% would need to live in a household making an average of $2.9 million annually.

Although the media and politicians have largely portrayed this group as greedy, uncaring Wall Street fat cats, demographic analysis reveals a very different picture. The wealthiest 1% are spread across many industries and come from many backgrounds. They include medical professionals, entrepreneurs, and executives, as well as those who inherited wealth.

According to IRS data, the top 1% earned over 20% of the total adjusted gross income in the U.S. and paid just under 40% of federal income taxes. They also accounted for just under one-third of all charitable donations.

A Worldwide Condition

The number of billionaires on Forbes’  35th annual list of the world’s wealthiest exploded to an unprecedented 2,755 in 2021—660 more than in 2020. Altogether, they are worth $13.1 trillion, up from $8 trillion on the previous year's list.

Wealth-X, a "wealth intelligence" research and marketing firm that is also part of the Euromoney Institutional Investor PLC Group puts the U.S. population of billionaires at 927. There were 410 billionaires in China. The total wealth of U.S. billionaires was $3.71 trillion.

The Widening Gap

The Economic Policy Institute reports that the net worth of the top 1% of American households has risen substantially. In 1962, the wealthiest 1% had net worths equal to approximately 125 times that of the average American household. Their net worths were shown to be approximately 225 times the net worth of the average household in 2009.

 The gap between the richest and the poorest more than doubled between 1982 and 2016.

172%

Percentage of the rise in the wages for the top 1% from 1980 to 2020—compared to 31% for those in the bottom 90%.

The minimum net worth of the top 1% of households is roughly $11.1 million. The top 10%, on the other hand, has a net worth of about $1.2 million.

 The wealth of the middle class is also rising, but it primarily rose between 1970 and 2000; median income increased by 41% during this time at an annual average rate of 1.2%. From 2000 to 2018, the rate was 0.3%.

The wealth of the top 1% continues to outstrip that of the entire middle class. In fact, the top earners hold more wealth than the middle and upper-middle classes put together. There's a variety of reasons for the disparity, but one chief factor is that they own more than 50% of the equity in both private and public companies. And they've also benefited from surges in the stock market. These gains help them reinvest their money back into exclusive investments like hedge funds and private equity ventures.

Underlying Causes

Much of the growing disparity can be traced to tax breaks on income, gift, and estate taxes, as well as the decline of labor unions in America. Although the middle class also benefited somewhat from the reduction in taxes, it allowed the wealthy to retain a much greater portion of their assets and pass them on to their heirs.

As of May, 9, 2022, the richest person in the world is Elon Musk, with a net worth of $268 billion.

In fact, there's been a lot of debate about how the Tax Cuts and Jobs Act (TCJA) of 2017—passed by the Trump administration—has influenced the wealthiest Americans. Though the Trump White House consistently defended the bill, saying it helped put money back in the pockets of the middle class, others have disagreed. For example, in their book The Triumph of Injustice (2019), economists Emmanuel Saez and Gabriel Zucman argue the tax reform bill gave the country's wealthiest households an effective lower average tax rate than the rest of the U.S. population: those who fall in the bottom 50%: 23% versus 25% for the working and middle class, and 28% for the upper-middle class.

Criticism of the Top 1%

There's been a lot of criticism of the world's ultra-rich, especially those living in the United States. They've been accused of hoarding wealth, lobbying for tax breaks, and not contributing their fair share in taxes. Responding to the criticism, many politicians are calling for more taxes on the wealthy.

Senator Elizabeth Warren proposed a tax on ultra-millionaires as part of her campaign to become the Democratic presidential candidate for the 2020 election. Senator Bernie Sanders, on the other hand, has pushed for an estate tax hike, meaning billionaire heirs would pay more in taxes. Their rationale? Taxing the ultra-rich would help cut down on the nation's income inequality.

President Joe Biden has also proposed significant increases in taxes on the wealthy. Outlined in April 2021, they include raising the top marginal income tax rate to 39.6% (starting with individuals earning $400,000 a year) from the current 37% (starting at people earning more than $518,000). The top tax rate on capital gains and unqualified dividends would also rise to 39.6%, up from a maximum of 20% now.

 Biden also wishes to increase the corporate tax rate to 28%.

How Much Net Worth Is Needed to Be In Top 1%?

The minimum amount of net worth to be considered in the top 1% is $11.1 million.

What Is the Net Worth of the Top 1% of Americans?

The total net worth of billionaires in the U.S. is $3.71 trillion.

What Percentage of the Population Has a Net Worth of $1 Million Dollars?

Roughly 10% of Americans have a net worth of $1.22 million or more.

The Bottom Line

Like the poor, the rich we always have with us: Disparity in income is inevitable in a capitalist society and a free-enterprise economy. However, the fact that the disparity seems to be increasing is a source of growing concern for many. The uneven impact of the COVID-19 pandemic shed a brighter light on the situation, though in fact, it had been developing for years: In the U.S., the share of the nation's wealth held by the top 1% increased from 23% to nearly 32% from 1989 to 2018.

Even billionaires such as Warren Buffett have expressed amazement that they often pay less in taxes than their employees do. Whether the 1% should be left alone or whether their wealth should be somehow shared will doubtless be an ongoing debate.

6 Investing Mistakes the Ultra Wealthy Don't Make

 

The ultra-wealthy, known as ultra-high-net-worth individuals (UHNWIs), make up a group of people who have net worths of at least $30 million.

The net worth of these individuals consists of shares in private and public companies, real estate, and personal investments, such as art, airplanes, and cars.

When people with lower net worths look at these UHNWIs, many of them believe that the key to becoming ultra wealthy lies in some secret investment strategy. However, this isn't usually the case. Instead, UHNWIs understand the basics of having their money work for them and know how to take calculated risks.

KEY TAKEAWAYS

Ultra-high-net-worth individuals often understand the importance of savings, the basics of investing, and how to take calculated risks.

Concentrating portfolios with investments only from the U.S. and the EU is an example of an approach that overlooks potential opportunities elsewhere, such as the emerging markets.

UHNWIs do not try to keep up with their neighbors or compare themselves to others but focus instead on achieving their objectives and goals.

Periodically rebalancing portfolios is essential when trying to achieve the right mix of stocks and bonds over time.

UNNWIs often find opportunities in private markets that are overlooked by investors that focus only on public markets.

In the words of Warren Buffett, the No. 1 investing rule is not to lose money. UHNWIs aren't mystics, and they don't harbor deep investing secrets. Instead, they know what simple investing blunders to avoid. Many of these mistakes are common knowledge, even among investors who are not particularly wealthy. Here is a list of the biggest investing errors UHNWIs avoid making.

1. Only Investing in the U.S. and the EU

While developed countries such as the United States and those within the European Union are thought to offer the most investment security, UHNWIs look beyond their borders to frontier and emerging markets. Some of the top countries that the ultra-wealthy are investing in include Indonesia, Chile, and Singapore. Of course, individual investors should do their research on emerging markets, and decide whether they fit into their investment portfolios and their overall investment strategies.

2. Investing Only in Intangible Assets

When people think of investing and investing strategies, stocks, and bonds normally come to mind. Whether this is due to higher liquidity or a smaller price for entry, it doesn't mean that these types of investments are always the best.

Instead, UHNWIs understand the value of physical assets, and they allocate their money accordingly. Ultra-wealthy individuals invest in such assets as private and commercial real estate, land, gold, and even artwork. Real estate continues to be a popular asset class in their portfolios to balance out the volatility of stocks. While it's important to invest in these physical assets, they often scare away smaller investors because of the lack of liquidity and the higher investment price point.

However, according to the ultra-wealthy, ownership in illiquid assets, especially ones that are uncorrelated with the market, is beneficial to any investment portfolio. These assets aren't as susceptible to market swings, and they pay off over the long term. For example, Yale's endowment fund has implemented a strategy that includes uncorrelated physical assets, and it returned an average of 10.9% per year between June 2010 and June 2020.

3. Allocating 100% of Investments to the Public Markets

UHNWIs understand that real wealth is generated in the private markets rather than the public or common markets. The ultra wealthy may gain a lot of their initial wealth from private businesses, often through business ownership or as an angel investor in private equity. Additionally, top endowments, such as those run at Yale and Stanford, use private equity investments to generate high returns and add to the funds' diversification.

4. Keeping up With the Joneses

Many smaller investors are always looking at what their peers are doing, and they try to match or beat their investment strategies. However, not getting caught up in this type of competition is critical to building personal wealth.

The ultra-wealthy know this, and they establish personal investment goals and long-term investment strategies before making investment decisions. UHNWIs envision where they want to be in 10 years, 20 years, and beyond. And they adhere to an investment strategy that will get them there. Instead of trying to chase the competition or becoming scared of the inevitable economic downturn, they stay the course.

Further, the ultra-wealthy are very good at not comparing their wealth to other individuals. This is a trap that many non-wealthy people fall into. UHNWIs stave off the desire to purchase a Lexus just because their neighbors are buying one. Instead, they invest the money they have to compound their investment returns. Then, when they've reached their desired level of wealth, they can cash out and buy the toys they want.

5. Failing to Rebalance a Personal Portfolio

Financial literacy is a big problem in America, but everyone should understand the practice of rebalancing their portfolios. Through consistent rebalancing, investors can ensure their portfolios remain adequately diversified and proportionally allocated. However, even if some investors have specific allocation goals, they often do not keep up with rebalancing, allowing their portfolios to skew too far one way or the other.

A balanced portfolio typically includes the right mix of cash, stocks, and bonds based on a person's age and risk tolerance.

For the ultra-wealthy, rebalancing is a necessity. They can undertake this rebalancing monthly, weekly, or even daily, but all UHNWIs rebalance their portfolios on a regular basis. For the people who don't have the time to rebalance or the money to pay someone to do it, it's possible to set rebalancing parameters with investment firms based on asset prices.

6. Omitting a Savings Strategy From a Financial Plan

Investing is essential to becoming ultra-wealthy, but many people forget about the importance of a savings strategy. UHNWIs, on the other hand, understand that a financial plan is a dual strategy: They invest wisely and save wisely.

As a result, the ultra-wealthy can focus on increasing their cash inflows as well as reducing their cash outflows, thus increasing overall wealth. While it might not be common to think of the ultra-wealthy as savers, UHNWIs know that living below their means will allow them to achieve their desired level of wealth in a shorter amount of time.

10 Steps to Financial Security Before Age 30

Being financially secure before you reach 30 may seem out of reach for many people in their 20s, but it's possible. Working toward financial security need not be an exercise in self-deprivation, though many people assume it to be.

Attaining this goal even has some immediate benefits given that financial insecurity can be a serious source of stress.

The following are 10 steps to consider to achieve financial security before you turn 30.

KEY TAKEAWAYS

Knowing how much you spend can keep spending in check.

Live within your means, don’t use credit to fund a lifestyle, and set short-term achievable financial goals.

Become financially literate and save what you can for retirement.

Take calculated risks, such as moving to a city with more job opportunities or taking on a new job that pays less but has more upside potential.

Invest in yourself by continually upgrading your skills and knowledge.

Strike a balance—working toward financial security doesn’t mean you need to deprive yourself. 

1. Track Your Spending

Knowing how much you spend and on what keeps your spending in check. A free budgeting app like Mint can help you do this.

You might discover that ordering in food several times a week costs more than $300 a month, or recurring charges for streaming services and subscriptions you never use are a waste of your hard-earned money. If you can afford to spend hundreds a month on ordering in—great. If not, you’ve just discovered an easy way to save money in addition to canceling those streaming services you forgot you had.

2. Live Within Your Means

Keep your standard of living below what your earnings can accommodate. As you advance in your career and gain more experience, your pay should increase. But rather than using this excess income to buy new toys and live a more luxurious lifestyle, the best move is to put the money toward reducing debt or adding to savings. If the cost of your lifestyle lags behind your income growth, you will always have excess cash flow that can be put toward financial goals or an unexpected financial emergency.

3. Don't Borrow to Finance a Lifestyle

Borrowed money should be used when your gain will outrun your borrowing costs. This might mean investing in yourself—for your education, to start a business, or to buy a house. In these cases, borrowing can provide the leverage you need to reach your financial goals faster.

On the other hand, using credit for a lifestyle you can't afford is a losing proposition when it comes to building wealth. And the added interest expense of borrowing further increases the cost of the lifestyle.

4. Set Short-Term Goals

Life holds many uncertainties, such as an economic crisis or the loss of a job, and much can change between when you are in your 20s and, say, 40 years later when you may retire. As such, the prospect of planning far into the future can seem daunting.

Rather than setting long-term goals, set a series of small short-term goals that are both measurable and precise—for example, paying off credit card debt within a year or contributing to a retirement plan with a set contribution each month. If you set goals, you'll have a better chance of achieving them than you would if you merely said you wanted to pay down debt, but failed to set a timetable. Even the process of writing down some goals can help you to achieve them.

 As you achieve short-term goals, set new ones. The constant setting and achieving short-term goals will help you reach longer-term goals, such as having a solid nest egg when you retire.

5. Become Financially Literate

Making money is one thing, but saving it and making it grow is another. Financial management and investing are lifelong endeavors. Taking the time and effort to become knowledgeable in the areas of personal finance and investing will pay off throughout your life. Making sound financial and investment decisions is important for achieving your financial goals.

6. Save What You Can for Retirement

When you're in your 20s, retirement likely seems a lifetime away, and planning for it may be the last thing on your mind. If you can take a few steps now to start saving, compounding will work in your favor. Even a small amount saved early in your life can make a big difference in your future. Building a retirement nest egg becomes more difficult the longer you wait.

Try setting up automatic monthly contributions to a retirement plan, such as an employer-sponsored 401(k) if you have access to one, or an IRA if you don't. You can increase your contributions when your income rises or when you've achieved more of your short-term goals.

 If you implement the pay yourself first ideal, you won't have to worry about how much you're contributing. The most important thing is to develop the habit of saving.

7. Don't Leave Money on the Table

If you work for a company that offers a 401(k), make sure to contribute at least up to the maximum of what your employer will match, otherwise you are leaving money on the table. In addition, you can deduct your contributions in the year you make them, which lowers your taxable income for the year.

If you don't work for a company that offers a 401(k), contributing to a traditional IRA will result in tax savings too because you can also deduct contributions.

8. Take Calculated Risks

Taking calculated risks when you are young can be a prudent decision in the long run. You might make mistakes along the way, but when you are young, you have more time to recover from them.

Examples of calculated risks include:

Moving to a new city with more job opportunities

Going back to school for additional training

Taking a new job at a different company for less pay but more upside potential

Investing in high risk/high return stocks

As people get older, some may assume more responsibilities such as paying down a mortgage or saving for a child's education. It's easier to take risks when you have fewer responsibilities.

9. Invest in Yourself

Look at yourself as a financial asset. Investing in yourself will pay off in the future. Your skills, knowledge, and experience are the biggest assets you have. Increase your value by continually upgrading your skills and knowledge and by making smart career choices.

Though this investment often starts with going to college or a trade school, keeping skills up to date and learning new ones that are in high demand can help make you a more attractive and higher-paid part of the workforce. Investing in yourself should continue over the course of your lifetime.

10. Find the Right Balance

Striking a proper balance between your life today and the future is also important. Financially, we can't live as if today is our last day. We have to decide between what we spend today versus what we spend in the future. For example, set a short-term goal to save for a trip to a destination you've always wanted to see instead of using a credit card to finance it. Finding the correct balance is an important step toward achieving financial security. 

Top 10 Business Ideas in Nigeria You Can Start with 100,000 Naira

In a country where economic deficit and unemployment have become the order of the day, conceptualizing a business idea in Nigeria and subsequently starting it can be likened to a goldmine which offers an opportunity for people to tap into a better livelihood.

According to Statista.com, a total of 32.5% of Nigerians were unemployed in 2021, with a forecast unemployment rate of 33% in 2022. 

Apart from being a gateway to self-employment and helping to put an end to job hunting, starting a private business from various business ideas also comes along with several advantages which include but are not limited to: 

Unlimited freedom 

Unlike working under someone or organization, where your mode of operation and work is being dictated by your boss/superior, personal l business gives you the privilege to work at your own pace and with ease. This is most suitable for people who may not have what it takes to work for a company due to certain conditions such as old age, underlying medical issues, limited time, etc.

Fulfillment of dreams and ambition

Getting a job is one thing, getting a dream job is another. While the former may be a little bit difficult, the latter is almost next to impossible to come by. We live in a country where a majority of people do a job they don’t really want or because they have no option. But with a proper business idea and conceptualization, one can fulfill his/her lifetime dream by starting a business that is in line with such a dream.

Financial freedom

Financial reward is yet another importance of starting a personal business. It is no longer news that most employers in Nigeria pay their staff peanuts for salary. The prices of commodities are on the high side, and the money being paid to the average worker is far from being enough to cater to their daily needs. A good business idea when materialized is capable of turning things around and subsequently giving financial freedom to the originator.

From the foregoing, it can be deduced that having a business idea and materializing it is of immense importance for whosoever deems it fit to give it a shot.

While there are many constraints to starting a personal business, capital to start with remains a major constraint.

In this article, we will be looking at 10 businesses you can start in Nigeria with as little as N100,000 which guarantees 100% return on investment in 30 days or less.

1. POS/E-PAYMENT

POS (point of sales) tops the list of business ideas in Nigeria you can start with 100,000 naira for obvious reasons. The business is one of those businesses that has come to stay for a very long time. Financial transactions are an integral part of human life and the banking sector habitually fails to live up to the people’s expectations in that regard.

POS serves as a subtle alternative to banking transactions and saves people from wasting their precious time that could be spent on something productive in bank hall queuing because of basic financial transactions. Financial transactions such as transfer of funds and withdrawals, payment of bills (DSTV, GOTV, PHCN), recharging of airtime, and selling of data among others can be taken care of by POS.

Mr Tayo Adewale, a 26-year-old HND holder from one of the federal polytechnics in Nigeria, after graduating and wrapping up his mandatory NYSC was unable to secure a white-collar job. He finally decided to go into the POS business, courtesy of N100,000 donated by his family which he used to kick-start the business. As of today, Mr Tayo claims he has been making nothing less than N100,000 return on investment since he started the business while some of his colleagues are still on the streets still searching for a non-existing white-collar job.

In starting a POS, one of the most important things to consider is the location you want to situate the business. The nature of the location your business is sited can either make or mar your POS business idea. While determining the kind of location, some of the things you should consider are: 

GSM network/Internet

This is an important factor that must be considered before opting for any location. You must ensure your POS business is situated in an area with a very good GSM network, to ensure hitch-free business transactions.

Proximity to banks

Another important thing you should consider before choosing a place to locate your POS business is how close the area is to the banking area. Locating your POS in an area very close to the banking area can be likened to efforts in futility and may not bring about the return on investment as expected. This is because the majority of the people may rather prefer to visit the banking for their transactions since it is close by.

Security

While searching for a place for your POS business, you should ensure the place is secured and has little or next to any history of crime. This is because you will be dealing with cash daily which makes you vulnerable and a soft target for criminals if the location is not secured.

What you need to start

Some of the things you will need to get the business started are business capital, space/shop or container, a banner, and most importantly a POS machine for the operation of the business. You can get your POS machines from banks like GTB, UBA, Zenith, First Bank, Access Bank, Polaris Bank, and hosts of others. 

2. Phones and other gadgets charging 

Phones and gadgets charging is yet another business idea in Nigeria that can be materialized with as low as 100,000 naira. It is no longer news that the electricity supply in most states of the country is unstable and unreliable, which makes the business of changing phones a very juicy one to venture into with relatively low capital.

Also, the cost of petrol for generators that could have served as an alternative power supply has become expensive and unaffordable. Hence, most lower and middle-class citizens who cannot afford to purchase a generator often resort to phone charging vendors, paying a minimum of 100naira to get their phones and other gadgets charged.  

Mr Wale Olakunle, a middle-aged man who owns a phone charging shop in Oke-Odo, a neighborhood close to the main campus of University of Ilorin, relished his humble beginning in the business and how far he has come since he started the business about three years ago.

“I started this phone recharging business three years ago with a 100,000 naira loan I took from a microfinance bank. When I first started, the first two weeks were dull and I was already thinking of giving up on the business. But towards the last weeks of my first month, the business started booming and the rest like they used to say is history. At the moment, my take-home from this business is nothing less than 7,000 naira daily after deducting all expenses. That is around 200,000 naira monthly,” he explained.

What you need to start

While starting a phone and gadget recharging business, one must consider the location. It is preferable to locate your business in an area with a poor electricity supply. This will make it inevitable for people to patronize your business. As a phone recharging vendor, you should also develop a good charisma which will allow your potential customers to freely relate with you as you will be dealing with different types of people dailySome of the things you will be needing to kick-start the business are a container/space, a covered or shaded stall, a small generator for power supply, fuel to power the generator, original chargers and desktop, and an electric socket board with multiple electronic sockets for charging. 

3. Mobile food vendor and delivery business 

Food is an important aspect of human existence that is simply inevitable. Regardless of the situation, we must always find something to eat. This, and other reasons are why online food vending and delivery business occupy the number 3 position on the list of business ideas that you can start with 100,000 naira.

At the moment, a good number of people find it difficult to cook food at home due to the nature of their work and busy schedules; hence, they result in employing the services of these food vendors. Working-class, students and artisans are some of the examples of people that fall into this category.

While starting a mobile food vendor business, one needs to have learned or possess cooking skills, which will give you a sharp edge over your competitors, as you have many alternatives like eatery, restaurants, and other mobile food vendors racing to have your customers. Your ability to prepare delicious, nice, and affordable meals will set you above your competitors.

 

While interacting with a popular mobile food vendor in OjoduBerger side of Lagos, Mr Kelechi Emmanuel expressed that his life has turned around for the better since he started the business a few years back. He expressed gratitude to a friend who first spoke about the business idea with him. However, he lamented the current price of cooking ingredients and foodstuff, urging the government to please find a lasting solution to the price hike.

What you need to start

Fast and reliable means of transportation are important aspects that must be in place for the smooth running of the mobile food business. 

The good news about the business is that you don’t necessarily need a shop or office to cook your meals, you can start by cooking from the comfort of your home and expanding the business as time goes by.

4. Copywriting

Copywriting is one of the most profitable online businesses in Nigeria you can kick off with a low cost of 100,000 naira and below. If you have good writing skills and firm control of language, then this business will be your ticket to financial freedom. 

The copywriting business comes in different forms: it could be writing of advert copy, blog posts, video scripts, presentation, direct mails, jingles, creative content, and so on. The main task of a copywriter is to weave content in such a way that will be convincingly enough to persuade or promote a certain product, idea, service, or cause. A copy, when well written, can perform magic on any product or services.

It can be done as full-time or a side hustle that guarantees a return on investment if one knows his or her onions very well.

Particularly, students, who have good writing skills, can explore this business opportunity to support their parents in catering for their academic financial needs.

The salaries of a copywriter in Nigeria ranges from 100,000 –300,000 naira depending on the nature of copy and organization. Some copywriters also charge clients per word. On an average, a copywriter charges 11-20,000 per 1,000 words.

To get clients as a beginner in copywriting, you can apply for a position of freelance job board, cold pitching, speaking at conferences/workshop and promoting of your business on professional platforms like LinkedIn 

A final year student of the University of Ilorin, Seyi Olawaleexplained that he has been surviving from the proceeds of copywriting since he lost his father in year two at the university.

He stated further that he no longer asks his mother or family for monetary help, as the money he makes from the business is more than enough to cater for his financial needs.

What you need to start

Apart from having an inherent writing skill, copywriting just like every other skill can also be learnt.  You can build from scratch or improve your copywriting skills by reading books on copywriting, watching copywriting videos on YouTube, following copywriting blogs and taking copywriting courses on online learning platforms such as Udemy and Coursera. Getting a copywriter as a mentor can also be of immense benefit while you are trying to improve or learn copywriting.

Another good news about this business is that, it is a remote one, and you practically don’t need to situate the business in a particular geography. All that is needed to start up the business is your smartphone or preferably a laptop system, a good internet connection, and, an adequate power supply.

5. Graphic design

 

As the saying goes, “A picture is worth much more than a thousand words”, going by this saying, it is free to say that graphic design is therefore worth much more than a million words. Graphic design is a process of projecting visual communication to communicate a particular message. It combines different elements to communicate a message to an audience.

Corporate organizations, government establishments, politicians, partisans, and virtually every sphere of human endeavor employ the services of graphic designers. While contemplating on venturing into graphic design, it is important to get yourself acquainted with the basics and fundamentals of graphic design such as: hierarchy, color, typography, lines, shapes, balance, texture, alignment, proximity, and contrast.

An Ilorin-based young graphic designer by the name, Ayomide Adeniyi stated that he makes nothing less than 120,000 monthly from graphic design simply by helping different organizations and individuals to design flyers, e-book covers, and banners. He continued that another means he makes money from the business is through the teaching of the skills to interested students.

On how he promotes and gets clients to patronize his business, the young designer explained that he gets most of his customers from a referral by people he has designed for in the past and also by showcasing and posting his designs on social media space like Facebook, WhatsApp, Instagram, and Twitter.

What you need to startStarting a graphic design just like other digital skills does not require having a particular shop/space, what is most important is learning the skill. There are various ways you can learn graphicsdesign which  includes watching graphic design videos on YouTube and also by paying a professional for master classes where you will be trained on the fundamentals of graphics and how to monetise the skill.

The tools you will be needing to materialise the business idea are your laptop and smartphones. For laptop design, you will be needing software like Corel draw, Adobe Photoshop, Adobe illustrator, and a host of other similar software while you will be needing applications like Canva, Pixellab, Logo maker. 

6. Selling of clothes

The importance of clothes can never be overemphasized. Clothes form part of the three basic needs of man, the others being food and shelter. Hence, it is one of the lucrative business ideas in Nigeria that can be started with a relatively low capital of 100,000 naira and below.

According to a young male clothes vendor, who is based in Ilorin, he explained that having a good relationship with your customers is the best way to grow your business. He continued that, you must also be willing to advertise your business through one on one interaction and most especially on your social media platforms to convince your existing and potential customers for patronage.

Some of the types of clothes to sell are children’s wear, native wear, English wear, jeans, underwear among others. Purchasing of these wears for resales can be made at popular clothes markets, such as Balogun market, Aswani market, Katanguamarket, Tejuosho market, Onitsha market, and Aba Market.

What you need to startWhile starting the business, having a shop may not necessarily be important from the onset, as you can simply purchase clothes and deliver them to the doorsteps of your customers.

One of the most germane qualities you must possess to make it big in the business is the ability to convince your customers on the need to purchase your product. Without proper pacification, your customers may not see the need to patronize a particular dress, as many other needs are competing for the capital of your customers.

Equally, it is also important to have good networking to people and maintain a good rapport with your customers who can in turn help to refer you to other potential customers for patronage. 

7. Laundry business

Laundry is yet another lucrative business in Nigeria that is often overlooked. Due to the busy nature of most people’s jobs, it is difficult to create time for washing clothes, and that is where the laundry service provider comes in.

Richard Ojigbede, a student of Ambrose Alli University, Ekpoma, while talking about his journey so far in the laundry business stated that he used to watch customers’ clothes with bare hands in the past but the proceeding from the business has bought him 2 washing machines and a generator. He explained further that most students have no time for washing clothes due to academic stress which is of immense benefit to his business. He concluded by saying he makes nothing less than 10,000 every day from the business.

What you need to startOne good thing about the business is that you can comfortably work from the comfort of your home without necessarily owning a personal shop or space.

All that is needed to materialize the business idea are the basic tools like washing machine, iron, and generator in case of a power failure.

Laundry just like most other businesses requires you to be honest. As a laundry service provider, you must at all times be a promise keeper by ensuring the readiness of your customers’ clothes as at when due.

It is also important you establish good connections with your customers in order to improve the chances of referral to other potential customers.

8. Shawarma selling business

Shawarma is a snack that is made of beef or chicken filling. It has over the years become one of the favorite snacks of people, most especially the younger generation. This lucrative business idea can be actualized with as little as 100,000 naira and below. 

Mr Sunday Agbor, who owns a popular Shawarma spot close to a supermarket in Ojodu Berger part of Lagos State explained that starting a Shawarma business requires a lot of dedication and patience. While recounting his own experience, the young man said that, the initial stage of the business was not too rosy, as he only made a few sales during the period. He continued that he presently makes more than 250,000 every month from the business.

What you need to startBefore venturing into the business of shawarma, you must first get trained on the process of shawarma making. You won’t want to start the business without a proper understanding of how it is made and start selling low-quality shawarma to your customers. This will kill your business even before it starts.

After getting trained, the next thing is to look for a good location where you can situate your business. Preferably, it is good to locate your shawarma spot in an urban area where you can easily meet with your target audience. Places like students’ area, supermarket surroundings, the entrance to an estate, bar, hotel, and T-junctions are a few of the best spots you can locate your shawarma business in order to make high profit and return on investment on the business.

Some of the equipment required for the business are shawarma toaster, show glass, pot/utensils, spron, and insect killer for flies. 

9. Data reselling business

Presently, we live in a digital era where the world has become a global village and everyone needs to be connected to stay informed about what is happening in their immediate environment and the world at large. To this end, purchasing and having a data plan becomes inevitable.

According to a 2021 report from Nigerian Communication Commission (NCC), Nigerians consume an excess of 80,000 terabytes of data every month. 

A data reseller is an individual who purchases data in bulk from VTU platforms and telecommunication companies at a relatively cheap price and then resells it to customers at his or her convenient rate.

A student data reseller, Miss Sharon Odewunmi expressed her satisfaction with her choice of business. She further stated that the business just like every other business requires one to have patience and good networking, as the business cannot grow without referrals to potential customers from the previous ones.

What you need to startSome of the requirements to start a data reselling business are a laptop or smartphone, capital for the initial purchase, good internet connections, and a bank account as a medium of payment.

To make money from this business, one needs to be a good marketer, this means that you must be actively able to advertise your business through face-to-face communication and your various social media platforms. You should also reduce the price of your data plans to give you a sharp edge over your competitors and equally convince your customers to purchase data from you as against buying it directly from their network service provider.

10. Declutter agents business

The advent of social media has been a blessing to humanity not just only by providing an avenue to make friends and stay connected with one’s family, but also it has continued to provide means of livelihood to some of its users. Declutter agent business is one of the fastest routes to financial freedom on Instagram. 

As a declutter agent, you simply rake in your money by helping sellers to display their product for potential buyers to see and if satisfied with the product, the buyer makes the payment and you get your own percentage from the proceeding of the sales. Your job is that of a middle man who connects buyer and seller. 

There is virtually nothing that can’t be sold via decluttering agents. Products such as: furniture, mattresses, generator, television, fans are few examples of varieties of things that can be sold and bought through the declutter platform.

According to a popular declutter agent on Instagram with the Instagram handle “deluxe_declutter” which has 13.5k instagram followers, she explained that she started the business with just 5,000 naira but currently makes nothing less than 300,000 monthly from the business. On how she promotes her business, the young lady stated that she reaches her audience through Instagram sponsored ads. She, however, described trust and sellers’ disappointment as the greatest challenge she faces in the business.

What you need to start

Starting this business does not also require situating it in a particular geographical location. It is a remote business that can be done at the comfort of your bedroom. What you will be needing for the business are your smartphone, Instagram accounts, data bundle and adequate power supply.

Having high followers on Instagram is also an added advantage. The more the number of your followers, the more chances of buying and selling through your platform and the more you make money from the business.

It is also important to have a good online reputation, as this will improve the people trust in you and their chances of making sales and purchases through your platform.

Conclusion  

In conclusion, there are many business ideas in Nigeria that you can start with as low as 100,000 naira. What is most important is your ability to look in depth and analyze the category you best fit into. Also, it is important to have patience, as the initial stage of personal business may be frustrating and not yielding enough as expected, but with dedication and hard work, it will just be a matter of little time before you unlock your financial freedom in the business.

25 Easy Ways to Make Over $2,000 US Dollars Monthly with your Smartphone

 

Do you want to learn how to make money using your phone? Today I’m sharing 25 easy ways to make money from your smartphone. The best part is, many of these mobile apps are free to use. This can be a great way for teenagers and students to earn extra money.

How much time do you spend each day on your phone? A recent survey says that we spend an average of 3 hours and 15 minutes per day on our phones.

We’re spending more time online because many of our pastimes, such as socializing is shifting from offline to online.

Since we’re spending so much time on our smartphones anyway, why not use this as an opportunity to make extra money through your mobile phone?

If you’re been thinking about how to boost your income, this list of money-making ideas is a great place to start.

Whether you’re a teenager, a stay-at-home parent, or you just want to make money fast — many people are looking for ways to make money from home. Today I’m going to show you how it’s possible to make money from your phone.

Whether you have an Android or iPhone, there are many ways to make extra money on the side simply by using your cell phone. Use this list of mobile apps and side hustles to get you inspired!

1. Swagbucks

✓ Get a $5 welcome bonus

✓ Earn cash back at over 1,500 stores online

✓ Earn free gift cards for shopping, taking surveys, playing games, and more!

If you enjoy playing games or watching funny videos on your phone, why not get paid for it? Companies like Swagbucks, are willing to pay you with free gift cards for things you already do online.

This includes watching videos, surfing the internet, playing games, and shopping online. Swagbucks is one of the best apps to make money doing tasks. This is a great way to get paid daily through your cell phone.

This can be a great way to earn FREE gift cards to your favorite retailers like Amazon, Starbucks or Walmart without too much effort. Check out how I use Swagbucks to get free Starbucks drinks.

Prefer to get paid in cash?

Simply redeem your virtual points to get cash back from PayPal. This is one of the easiest ways to make money from your phone. If you’re not already a member, you can join Swagbucks for free and receive a $5 Welcome Bonus!

Don’t forget to confirm your email address after signing up so you can start making money right away.

2. Flip stuff for profit

✓ You need to make quick money

✓ You love finding a good deal

✓ You need something that’s recession proof

Do you enjoy finding deals and hidden treasures at thrift stores or garage sales? You could buy these items and resell them for cash!

Flipping means finding things for free (or at a discount) and selling them for a profit. There has never been an easier time to resell and flip items to make money from your phone.

Selling stuff online can be a great way to make money fast. That’s exactly what Rob and Melissa do. They make over $100,000 a year by flipping items for profit. Here’s a crib that Rob and Melissa found at a thrift store for $40. They sold it on eBay for $400!

FREE Workshop for beginners:

If you’re interested in learning more, Rob has put together this free workshop to help you learn how to find hidden treasures at thrift stores and turn them into maximum profit online.

He also offers a comprehensive course that will teach you everything you need to know about buying and reselling items on eBay, Facebook Marketplace and other online platforms. This can be worth taking if you want to fast-track your success and learn from an expert in the business of flipping.

The 18 best items to flip for profit

How to make a full-time income flipping furniture for profit

Flea Market Flipping – How to resell things for profit

3. Branded Surveys

✓ Over 2 million happy memebers

✓ Get paid in cash and free gift cards

✓ 100 points sign-up bonus!

If you like sharing your opinion on new products, Brand Surveys is willing to pay you cash. When companies want to collect market research, they turn to Branded Survey’s Community for feedback. It’s free to join and can be an easy way to make money in your spare time.

How to make money with Branded Surveys:

Sign up: You can sign up here to create your free account. The more details you provide, the more surveys they’ll provide.

Verify: Verification of your account and honest answers are key to providing market research on behalf of Fortune 500 companies. This will help you unlock more survey opportunities which means more ways to earn extra money.

Participate: Collect points for every survey you complete. Points are redeemed for gift cards, cash, or Branded Pay™ (for US panelists only). This is an easy way to make money from your phone.

PRO TIP:

The key to making the most money with surveys is to sign up for several top-rated survey sites. Then you’ll get to choose the highest-paying surveys to save time and earn more cash!

Some of the rewards you can earn from Branded Surveys include e-gift cards to popular retailers such as DoorDash, Uber, Old Navy, Starbucks, Amazon, Wayfair, and more!

4. Survey Junkie

✓ Over 10 million members

✓ Get paid to share your opinion

✓ Redeem virtual points for PayPal or gift cards!

How to make money from your phone

If you enjoy giving your opinion, companies like Survey Junkie are willing you to pay you cash. Survey Junkie is one of the best paid survey sites, with over 10 million members.

It’s free to join and only takes around 5-15 minutes to fill out each survey. Then you’ll get paid via PayPal cash payments or e-gift cards. This can be a great way to make money from your phone for FREE!

How to make money with Survey Junkie:

Take Surveys: Sign up here to create your free account. This process takes only a few minutes to complete. Then you’ll be matched with surveys.

Earn Rewards: Complete surveys and you’ll earn virtual points.

Get Paid: You can redeem virtual points for PayPal cash payments or e-gift cards.

5. Toluna Influencers

✓ Free to join

✓ Get paid in cash and free gift cards

✓ Each survey takes around 15 minutes to complete

how to make money online with toluna influencers

If you have 15 minutes to spare, you could get paid to share your opinion. As an online Toluna Influencer, you’ll get rewarded for each survey you complete. This is a great way to make money from your phone.

Their online community shares their opinion by answering surveys, which has a direct impact on companies and how they market, distribute or advertise new products and services to consumers like you. It’s free to join so you’ve got nothing to lose!

How to make money online with Toluna Influencers:

Inspire: You can click here to join Toluna for free. You’ll be asked to provide some basic information when creating your account. Then you can start participating in surveys, content and games to get rewarded.

Share: You’ll receive invitations to fill out surveys by email. For each survey you complete, you’ll earn between 15 and 50,000 points, depending on its length.

Gain: Redeem your points for your choice of PayPal payments, Amazon gift cards, and more.

Sign up for Toluna Influencers here to start making money!

Click here to subscribe

6. ySense

✓ Earn cash for taking free paid surveys

✓ Get paid for trying new products & services

✓ All funds are in US Dollars

ySense is a popular online community that can help you make money in your spare time. This means you can make money from your phone while watching Netflix. There are multiple earning options with ySense, such as:

Paid Survey – You can earn cash while taking free paid surveys. Get rewarded while influencing the next generation of products and services. It just takes a few minutes of your time to create a free ySense account.

Cash Offers – You can get paid for trying new products and services, watching videos, downloading apps, signing up for websites, and more.

Referrals – You boost your earnings by sharing ySense with your friends. This is one of the best platforms to earn money oneline from your phone.

7. Opinion Outpost

✓ Free to join

✓ Earn rewards every time you take part

✓ Currently for United States of America residents only

Opinion Outpost helps big brands collect your opinions about products. Sharing your opinion through their surveys can influence the way something is made, how much it costs, or a way a company is going to do something.

Opinion Outpost currently has a TrustScore rating of 4/5 on Trust Pilot, which makes them one of the highest rated survey sites.

How to get started with Opinion Outpost:

Register for free: You can click here to create your free account. You only need to provide basic information like your name, email address, and gender.

Participate in surveys: You’ll receive invitations to complete surveys.

Earn cash and rewards: Each time you complete a survey, you’ll earn points you can redeem for rewards and free gift cards. The more surveys you complete, the more rewards you’ll earn!

8. Earn cash back with Rakuten

✓ Get a $10 welcome bonus

✓ Earn up to 20% cash back

✓ Earn cash back at over 2,500 stores online

If you enjoy shopping online, you could be earning up to 20% cash back on your purchases. Websites like Rakuten offer a one-stop shop to earn cash back at 2,500+ stores and find thousands of coupons, promo codes and discounts online. This is my favorite app that makes you real money.

Is Rakuten a scam? No, this cash back website is legit! Below are some real purchases I made through Rakuten to earn cash back. While each amount may seem small, it can quickly add up!! As you can see this can be an easy way to make money from your phone.

Is Rakuten legit?

Yes, it’s a one of the best legit money making apps to earn cash back.

Rakuten currently has a TrustScore rating of 4.5/5 on Trust Pilot, which makes them one of the highest-rated cash back websites.

I personally use Rakuten whenever I shop online. It’s free to join and for a limited time, you’ll receive a FREE welcome bonus for new members.

How to claim your free welcome bonus:

Step 1: Start here to sign up for Rakuten. (It’s free to join)

Step 2: Find your store on Rakuten next time you need to buy something. It’s connected to over 2,000 stores, including Amazon, Target, and Walmart. You’ll need to spend at least $25 on your first purchase within 90 days.

Step 3: Your Rakuten account will be credited with reward points. Get this cash sent to a PayPal account or choose to receive a Big Fat Check from Rakten. It’s up to you!

For Canadian shoppers, you can click here to sign up for Rakuten (free $5 welcome bonus).

9. Doordash

✓ Get paid to delivery food to customers

✓ Available in over 4,000 cities in the US, Canada and Australia

✓ Be your own boss, set your own hours

If you have a smartphone and you’re at least 18 years old, then you can make extra money delivering meals with Doordash. This is a great way to make money from your phone.

Doordash is an app that offers delivery service from the best local restaurants to customers. As a Dasher, you can be you own boss, set your own hours and choose how much you earn. Simply use a car, scooter, or bicycle to deliver take-out meals to start making money.

Get paid $23 per hour while on a delivery and have the potential to make more money during special DoorDash promotions.

This includes making deliveries during peak hours, doing challenges and driving. You also get to keep 100% of your tips, which can boost your income even more.

If you’re interested in learning more, you can sign up for free here.

10. Investing made easy with Acorns

✓ Get a $5 welcome bonus

✓ Over 4,000,000 members

✓ Simple and straightforward platform

If you’re interested in making money with investing, but are unsure how to get started, Acorns can be a great option for beginners.

How to make money with Acorns: Every time you make a purchase, Acorns will automatically round it up to the nearest dollar and invest that change towards your future. Your spare change can quickly add up and every nickle and dime counts.

With Acorns, you can also earn cash back on your everyday shopping or set up recurring investments. You’ll even get a $5 welcome bonus just for signing up. You just need your phone to get started.

11. Drop

✓ Get rewarded by shopping at the brands you love

✓ Earn points for every purchase you make

✓ Redeem points at places like Amazon, Starbucks and Netflix

Drop is a free app that makes it easy to turn your everyday purchases into cash rewards. Each time you make a purchase at one of your favorite retailers, you’ll earn points.

This means you can get rewards on your everyday purchases such as grocery shopping, taking an Uber, grabbing a snack, and more.

Every 1,000 points is worth $1. You can redeem your points for gift cards to your favorite retailers, such as Amazon, Starbucks, Walmart, and more. This is an easy way to make money with your smartphone.

How to get started with Drop:

Download the App: After you download the app, link your debit and credit cards. You’ll automatically earn points whenever you spend with any of your linked cards.

Shop at Your Favorite Places: Whether it’s grocery shopping or taking an Uber, you’ll easily earn points.

Get Cash Rewards: Redeem your Drop points for gift cards to where ever you want. It’s that easy!

12. Ibotta

✓ Get up to a $20 welcome bonus

✓ Earn cash back at over 280 retailers

✓ Open to residents of the US only

Ibotta is a free mobile app that lets you earn cash back on your everyday purchases. In a nutshell, it’s a rewards app that pays you to shop. Ibotta can be a great option if you’re the grocery shopper for your household or you enjoy shopping in general.

How to get started with Ibotta:

Join for Free: Simply download the Ibotta app.

Browse Offers: Before you go shopping, add offers that you’re interested in buying. These offers will qualify for cash back. The more offers you add, the more cash you can get back!

Go Shopping: Buy these featured products at your favorite store.

Redeem and Get Paid: To redeem your offers, take a photo of your receipt. Your cash back will be deposited in your Ibotta account within 48 hours. Once your account has $20 or more, you can get paid via PayPal, a linked Venmo account, or by purchasing a gift card through the app.

13. Rent out your space on Airbnb

✓ Get paid to rent out your space

✓ Set your availability, prices and house rules

✓ Airbnb covers every booking with $1M in property damage protection

Do you have a spare room in your home? Or a cottage that you’re not regularly using? Turn that extra space into cash by listing it on Airbnb.

Airbnb is a global travel community, available in over 190 countries. Millions of hosts choose to create a free Airbnb account so they can rent out their extra space for cash. No matter what kind of home or room you have to share, Airbnb makes it easy and secure to host travelers.

If you’re curious, head to Airbnb’s calculator to see how much money you could be making as an Airbnb host.

14. Sell books online

✓ Sell textbooks and used books for the most money

✓ Compares offers from over 30 buyback sites

✓ Ship for free and get paid

Do you have textbooks or used books that you no longer need?

Consider selling your old books on Bookscouter to make extra cash. Bookscouter is a legit company that will help you sell your textbooks and used books for the most money. They compare over 30 buyback vendors with a single search.

Simply download their free app, search for the book you want to sell using the ISBN, compare prices to decide where you want to sell your book, then ship your book free and get paid via PayPal or a mailed check.

15. Get paid to grocery shop

✓ Earn extra money shopping for others

✓ Flexible schedule – Work whenever it works for you

✓ Earn more money by delivering groceries

Instacart is looking for people to become a personal grocery shopper. This can be an easy way to make extra money in your spare time. Plus, it’s free to sign up as an Instacart Shopper.

It’s similar to Door Dash. Simply choose the hours that work best for you. To maximize your earnings, Instacart recommends working peak days.

As a shopper, you’ll be grocery shopping for people. You can choose to be an in-store shopper (shopping only) or a full-service shopper (shop and deliver orders to customers). During busy shifts, you can earn $20 or more an hour depending on tips. This can be a great way to make money from your phone.

16. Rent out your garage on Neighbor

✓ Make money from home by storing vehicles and belongings

✓ Rent out any storage space, no matter what size

✓ All you need to do is clear a space

If renting out your spare room to strangers on Airbnb doesn’t sound like your cup of tea, then consider becoming a Neighbor Host instead.

When you become a Neighbor Host, you can make money by renting out any storage space, no matter what size. Some of the possible options include:

Garage / Carport / Driveway / Street parking

Parking lot

Basement

Bedroom

Shed

Warehouse

Self-storage unit

Closet

Attic

17. Get paid to share pins on Pinterest

Online business owners and bloggers are looking to hire Pinterest virtual assistants to help them grow their reach on the platform.

As a Pinterest virtual assistant, you can make between $25-$35 per hour by sharing pins on your client’s account. This can be a great job for beginners because you don’t need expereince to get started.

To learn more, check out this free workshop put together by Kristin, a Pinterst expert and creator of Become a Pinterest VA.

18. Get paid to play games on your phone

✓ Watch quick videos from brands you like

✓ Earn from e-gift cards

✓ Buy whatever you want from the retailer

If you enjoy playing games on your phone, considering using the Dabbl app. This mobile app lets you earn money by completing simple, fun interactive games, quizzes, and videos.

If you want to learn how to make money fast as a teenager using only your phone, Dabbl can be a good choice.

How to make money with Dabbl:

Simply download the app, choose what brands you want to engage with, and earn free gift cards for your time. You can earn free gift cards to retailers such as WalMart, Target, Amazon, and more great stores. This can be a fun way to make money from your phone.

19. Pet sitting on Rover

✓ Set your own schedule and prices

✓ Great side hustle opportunity for dog lovers

✓ Offer any combination of pet care services

If you like dogs, you could get paid to pet-sit and play with dogs. Rover is an online network that connects dog walkers and sitter to pet owners in your area. All you need is your phone to get started making money.

As a dog walker or pet sitter with Rover, you can set your own rates to make sure you’re charging a fair price. Looking for how to make money with your phone as a student? Rover can be a great choice.  Plus, it’s free to sign up. You can learn more and get started here.

20. Handy

✓ Earn up to $45 per hour (or job)

✓ Flexible schedule

✓ Must have paid experience with the service you’re applying for

Are you good at fixing things? I wish I was good at fixing things. Instead I just usually hire someone to make it easier for me.

If you’re handy, you could make extra money by helping others with special services. This includes painting, assembling furniture, mounting a TV on the wall, hanging a mirror or painting on the wall, installing lights and so on.

Websites, like Handy.com can help you find work as a handyman in your neighborhood. This is one of my favorite money earning apps.

You can earn up to $45/hour/job as a handyman. The top pros on Handy make over $1,000 a week! This can be a great way to make extra money by helping people with their everyday to-dos.

21. Fetch Rewards

✓ Over 500,000 5-star reviews

✓ Scan your receipts and save on groceries

✓ Redeem points for free e-gift cards

Don’t throw out your grocery receipt — you could scan it with your phone and earn free rewards!

Fetch Rewards is a free app that helps you earn digital gift cards for scanning your physical or digital receipts. You can redeem these gift cards at hundreds of retailers, such as Target and Amazon.

Simply snap a photo of your grocery receipt using your phone, and Fetch will award you points on all participating purchases and offers. It’s an easy way to make money from your phone..

22. Earn cash back with Ampli

✓ Easy and safe to use

✓ Shop and earn cash back on your purchases

✓ Available in Canada

For my fellow Canadians, Ampli is known as the Golden Goose of cash back apps. This free app helps Canadians get rewarded for their everyday purchases, both in-store and online.

Step 1: Connect your cards – Download the Ampli app and securely connect your Canadian debit and credit cards to the app.

Step 2: Shop & earn – Shop and pay with your connected card online or in-store at partner brands and earn cash back.

Step 3: Cash out for free – Once you accumulate $15, then you send yourself a free Interac e-Transfer. This is one of the best apps to make money fast.

23. Sell your old stuff on Facebook Marketplace

If you have some gently used clothes, furniture, books, or kitchen gadgets that you no longer use – consider selling them online. This can be a fast way to make money from you phone. I recently sold over $2,000 worth of old stuff on Facebook Marketplace and Kijiji.

How to make money as a Neighbor Host:

List your space – Tell Neighbor about your spaces and how much you’d like to earn.

Respond to renters – Review renters requests (including what they want to store and when) and approve them.

Schedule a move-in – Schedule a move-in time with your new renter. That’s it!

24. Sell your clothes on Poshmark

✓ Join millions of people on the largest social marketplace for fashion

✓ List your items for sale on the app

✓ Pre-paid shipping label and get paid

Do you have gently used clothing that you don’t need anymore? Consider selling your clothes for cash on Poshmark. This is a great way to make money from your phone.

Poshmark is a free app that lets you list items for sale. Just sign up for a free account, take a photo of the item you want to sell with your phone, fill in the description, set the price, and you’re done!

When you make a sale on Poshmark, they provide you with a pre-paid, pre-addressed label ready to be put in the box. It’s super simple and you don’t have to worry about dealing with stamps. You can learn more and create your first listing here.

25. Slash your monthly expenses with Truebill

Truebill is a popular app that can help you optimize your spending, find and cancel subscriptions, lower your bills, and stay on top of your finances.

While this isn’t a money-making app, it can help you reduce your monthly expenses, which adds up to extra money in your pocket.

26. Invest in real estate

✓ Get started with as little as $10

✓ Good for beginners 

✓ Good for accredited or non-accredited investors

Fundrise is one of the most popular real estate investment platforms. It’s great for beginners or non-accredited investors and you can get started with just $10.

This platform uses crowdfunding to pool funds with other investors in order to buy properties. This makes private real estate investing more accessible, since you don’t require a lot of capital to get started.

Other popular real estate crowding funding platforms include Realty Mogul and Happy Nest.

Realty Mogul is best for accredited investors and requires a minimum investment of $1,000. Happy Nest is good for beginners because you can get started investing for as little as $10, but I prefer Fundrise.

Make Money on Your Phone FAQs

Below are some common questions about how to make money on your phone fast and the best money-making apps.

Which app gives you real money?

Each app on this list can give you real money. For apps that instantly give you money, check out the ones below:

Swagbucks (Get $5 as soon as you sign up)

Ibotta (Get up to $20 welcome bonus when you join today)

My Points (Get a $10 Amazon or Visa gift card when you sign up)

Rakuten (Get a $10 welcome bonus when you make your first purchase)

What jobs can you do from your phone?

There are many jobs mentioned in this post that you can do on your phone. Below are some of the most popular ways you can earn an income from your phone:

Door Dash (deliver food to customers on foot, bike, or car)

Instacart (Get paid to grocery shop and deliver items to customers)

Rover (Get paid to pet sit or walk dogs)

Handy (Get paid to do odd jobs such as cleaning or lawn care)

16 Ways to Get Paid to Code Online

Are you a programmer trying to make money online? Well, congrats! You’ve clicked the right link. Keep scrolling for 16 ways to get paid to code online.

Are you a programmer trying to make money online? Well, congrats! You’ve clicked the right link. Keep scrolling for 16 ways to get paid to code online.

How to Make Money Programming


If you’re a programming geek and not making any money online, you are missing out BIG. Anyone (read: you) that’s familiar with languages such as C++, HTML, Python, NET, Java, and PHP, can get paid to code online.

This means you can finally combine your love of programming with your love of cold hard cash.

Pretty gnarly, right?

Technology is only becoming more and more a part of everyday life. I mean, even my grandma knows what TikTok is. This means the value of programming skills is only increasing, too.

And the best part about all this is that sweet thing we call the World Wide Web has opened up new possibilities for programmers to find work. You don’t have to go into the office anymore to find programming work.

There are many incredible ways to make money online with programming skills.

(And it's even possible for you to get paid to learn code online…but more on that in a bit.)

If you learn various coding languages and programs, then you can offer your skills online and start generating cash fast.

The key is that you need to learn and know the latest code to appeal to your clients. By doing that, you can charge more for your services.

I recommend CodeAcademy to stay up-to-date with code and programming languages. You'll get 50% off an annual membership.

That's the beauty of it too. If you have no idea how to code but want to learn to make money. Use CodeAcademy to get started.

CodeAcademyOffer:

50% OFF Annual PlanCodeAcademy is one of the top ways to improve and learn better coding. You learn from top professionals in the industry. Staying up-to date on the latest trends in code and programming means you can charge your clients more. Join for 50% off.GET 50% OFF


List of Proven Ways to Make Money from Coding Online

Here are sixteen ways to make money online with your coding skills. (cha-ching)
1. Blogging

Now I know everyone and their mom tries to get you to start a blog. But hear me out!

If you’re a programmer, you can always make money through a blog in the programming niche.

And there are many ways to monetize a blog as a programmer:offering coding skills online
charging for premium content
earning through affiliate links

In the last few years, I’ve made over $250,000 from blogging and I know with an in-demand skill such as yours, you can start a blog and make money, too.

Quick tip for starting your programming blog:

Write SEO-friendly content with relevant keywords to rank your page in the search engines. Make sure you go for both on-page and off-page SEO optimization for the best results.

This will help with traffic to your site. And the more eyeballs on your site, the more potential clients and customers.

Second quick tip:

Create lead magnets where you can turn prospective readers into customers. Learn how to do that right here.

The coolest thing about starting a blog for cash? Low start-up costs.

Start your blog today for less than ten bucks, my friend. I recommend starting with an easy hosting provider like Bluehost. It's super easy to get started and you'll get a FREE domain name when you sign up.

BluehostPrice:

Only $2.95/monthBluehost is the ultimate hosting platform that will allow you to start a blog or website in a matter of minutes. You'll get a FREE domain name when you sign up with my link It's never been easier to build a brand.START A BLOG


2. Freelancing

Freelancing. Not just for dirty hippies who don’t want to get a job anymore.

The gig economy has seriously changed the game for lots of skilled workers, including you and your genius programming brain.

Just offer your programming services to clients online.

Check out a few freelancing platforms and find the one that works best for you. (see below)

The best by far for coding is TopTal. Freelancers earn an average of $60-$115 per hour working with some of the most reputable brands around the world.

TopTalOffer:

FreeTopTal short for Top Talent is the best in breed place for freelancers to find jobs with some of the most reputable and top paying clients from around the world. In order to join, you'll need to showcase your valuable skills in order to get accepted. It's worth it as freelancers earn anywhere from $60-$115 per hour. Do you have what it takes?JOIN FREE



The coolest thing about freelance work is that you can create your own work schedule AND you have the freedom of working from anywhere.

As you take on more jobs and earn fan-tabulous reviews on freelancing platforms, you'll be able to raise your income levels…aka charge top dollar.

Some of the other best freelancing platforms include FlexJobs, Freelancer and Fiverr. On these sites, you have the opportunity to bid for different projects.

Check out FlexJobs to get freelance gigs right away.

You can also find programming gigs through job boards and social media platforms such as ZipRecruiter. Pitching directly to clients that need a programmer on their team is an awesome way to find high-paying clients.

If you’re ready to start freelancing, I’m ready to teach you, my friend.

Sign up for my Increase Your Income course where I’ll go over the best places to freelance, top-paying jobs, and teach you the exact steps I took to start making over $5k/month. Use the form below to get started.
3. Develop Apps

Was there ever a time without apps?

Unfortunately for boomers, yes.

Fortunately for you and me, we’ve got lots of apps and they aren’t going anywhere.

Take advantage of your programming skills by developing an app and monetizing it.

If you are familiar with Objective-C or Swift, you can create an essential iOS app in just a few hours. Then launch it on the App Store. After that, you can sell it to the public through different kinds of media.

If you’ve got a really good and marketable app idea, it’s easy for you to make money by creating it yourself for free. Check out Upwork, Apache Cordova, Appcelerator, and more for awesome ideas.

Once you've developed your app, you can sell it on Flippa for cash through an auction process or a classified listing.

I’ve personally done this a few times. Flippa is great because it has the largest marketplace out there to buy and sell apps.

They seriously make it so easy to sell your app
4. Make A Plugin Or Theme For WordPress

Nearly 25% of all websites out there on the internet use WordPress. If you create useful WordPress plugins and themes, you can make some sweet cash.

WordPress plugins are in high demand, my friend. Seriously. This is a great way to make money to code online. You can do this bydeveloping mass apps for WordPress
developing small modules such as plugins and themes.

To monetize the plugin, you can make it premium and charge users directly… or you can make it free and earn through ads and donations.
5. Become An Online Educator And Sell Courses Online

The online education industry is HUGE. It’s expected to reach 132 billion dollars by 2023.

Yes, billion. That’s not a typo.

Take advantage of this. Lots of people want to learn how to code. Why shouldn’t you be the one to teach them…online?

Create courses online using different learning management systems such as Udemy and Coursera. Then sell them to budding coders who want to learn.

The best way to reach potential customers is to create a blog (see above) and put up some free tutorials to build your authority and to build traffic. Then upsell them to your course.

If creating your own blog or platform isn’t your thing, I’ve got you covered.

You can get paid to teach coding if you position yourself as a computer science instructor.

Here are a few places that hire online coding and computer science instructors:universities
online coding tutoring platforms
coding bootcamps

You can also use these platforms and their existing students to teach coding and Python:Udemy: Join now and get started making money with coding
Coursera: Join to get the best coding experience and make money from your learning
CodeAcademy: Learn and teach how to become a full-stack web developer
6. Join Coding Competitions

If you’re like me, you prefer your competition to be on TV.

But aside from watching sports, I also like making money from doing stuff I’m good at.

I bet you do, too.

So I present to you coding contests, my new programmer friend!

Coding contests are a great way to get paid good money with your coding skills. Most contests offer substantial cash prizes to the winners.

Some of the most popular coding contests include Topcoder, CodeChef, HTML5Contest, and CallingAllInnovators…but there are definitely more out there.

There are 3 competition areas:Design
Development
Data science

Top coders handle real-life problems for 2,000 global customers, competing in single-round tournaments where both skills and fun are emphasized.

Why not jump into a contest or two and try your luck?

Just like boxing, you get paid ($$$) for emerging victorious.

And aside from a sweet cash injection to your bank account, competitions like Topcoder offer online programs where networking is key.

So not only do you get to compete and win big…you get to learn from other top participants by seeing their code, AND you get to mingle with big companies searching for the top talent in coding.

It’s basically like professional sports. Except less running and more typing.
7. Start A Personal Website

A personal website is like a giant billboard to show off your coding skills.

Your website design should be sleek enough to reflect your skills and identity. It’s a way of branding yourself. You can also use it to share your portfolio as a coding expert.

On your website, share your wicked smart programming tips to showcase your authority in the niche. Create your own website with a blog section to share coding-related content to your website visitors.

Don’t forget to reply to comments and answer visitor questions regularly. This kind of interaction makes you accessible in the coding circle. It also helps you gain trust, which will bring you income and clients.

Once you’ve established your personal brand, trust, and authority you’ll have more clients to offer your online services, charging hourly rates…or better, big project rates.

With a website, you can also earn from Google Adsense, advertisements, sponsored ads, affiliate marketing and other monetization strategies.

You can get started for only $3.95/month with Bluehost.
8. Develop Games

With coding skills, you can develop games for cash. Game development can be seriously lucrative. Develop Android and iOS games and sell them.

You can use platforms such as Fupa, a great platform for selling your games online.

The FGL app management portal is also pretty sweet. It manages apps and makes them grow and succeed, so you can continue to make money developing games.
9. Become A Python Developer

While most people reading this might think this is a snake breeder type-a-thing, you and I both know a Python developer is one of the highest-paying jobs today.

For someone with expert Python knowledge, it’s possible to make up to $100k per year as a developer.

Some of the jobs available includebuilding websites
implementing security and data protection procedures
optimizing data algorithms
solving data analytics challenges
creating reusable, efficient, and testable codes

Companies all over the world are searching for people with Python developing skills. Some of these companies include Randstad, lyft, ADP, and more.

So if this is you, what are you waiting for? Get out there and start earning!

See Related: Freelance Rate Calculator
10. Find A Job As A Product Manager

This is another lucrative job for people with coding skills.

A product manager in the field of coding involves identifying a need in the marketplace
researching new features
showing why specific products ought to be developed.

Companies look for product managers with Python knowledge to come up with data that helps them in decision making.

Python skills help with automation, analysis, and reporting; therefore, a product manager can help the organization in analytics without hiring an additional expert.

Some of the companies recruiting product managers who possess Python skills include Snapchat and Crunchbase.
11. Become A Data Analyst

Python programming language is applied in machine learning and is used by data analysts.

Several companies, such as Memorial Sloan Kettering Cancer Center as well as Bloomberg, are continually searching for AI and data analysts who possess Python expertise to help them sift through massive amounts of data.

Python libraries such as Scipy and Pandas come in handy when you want to accomplish such tasks.

See Related: How to Make Money with Machine Learning
12. Apply For Quantitative Analyst Jobs at a Bank

It’s a digital age and we’re living in a digital world.

That means some bank analysts are now required to know Python.

Banks want employees who can code so they can cut costs and increase their bottom dollar. If you are a coding expert, you can become a quantitative analyst for financial data.

You'll also make some pretty good money along the way.

See Related: Get Paid to Selfie? Make Money Selling Photos of Yourself
13. Engage in Data Journalism

People love stories. And if you can tell a good story backed by data and statistics?

It’s a gold mine, my friend.

A coding expert with Python knowledge is in high demand. You can sort through vast amounts of data, analyze it, and visualize your findings.

In a world where news travels as fast as speech, it’s no wonder we need more data journalists.

Some of the software libraries that work with Python include pandas, which you can use to sort and process information as well as identify trends; matplotlib, which helps create charts; and BeautifulSoup, which is meant for screen scraping.

(Side note: you can create a blog and tell those fact-based stories to the world, just so you know. Hint hint. Wink wink.)
14. Advertise In Business Directories

Sometimes you just gotta get back to basics.

List your profile as a java programmer or a PHP programmer in a business directory. Include your skills on your profile to get enquiries from clients for work.

Some directories to consider include Quickr, Indiamart, and Justdial.
15. Create A YouTube Channel

YouTube is where it’s at!

First, it’s only of the most visited websites in the entire world. Second, you can definitely earn some cash from a YouTube channel by growing your subscriber base.

Create videos showing people tips on coding, and be consistent. The more subscribers you have, the more views you'll get… and the more you will earn.

Find a YouTube partner program that will allow you to earn a percentage of the money generated from ads that run alongside your videos.

See Related: How to Become a Content Creator
16. Write And Sell An Ebook

You can also make a few bucks selling ebooks with coding tips. After writing your ebook, publish and sell it on social media, your website, or Amazon.

Publishing an ebook is easy, and you can take advantage of free publishing platforms such as Kindle Publishing…aka Amazon.
Conclusion on Getting Paid to Code Online

There are sooo many ways to make money online as a programmer. You can create a full-time income with any of these methods that help you get paid to code.

But I’ve got to be honest: just like in any other job, you need to put in some effort, figure out what you like, and make them work for you.

Good luck to all programmers who are trying to make some money online.