How To Save Money: 18 Proven Ways

 

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We compiled several ways to save money, from adjusting daily habits, to cutting monthly bills, to making long-term changes.

18 ways to save money

1. Use an automated tool

Find an app or bank account that takes the work out of saving. Digit and Qapital both automatically transfer small amounts from your checking account to a separate savings account. Learn about apps that automate savings for you.

2. Count your coins and bills

Empty your pockets each day and start collecting that extra change. Then take your collection to the bank and put it directly into your savings account instead of your checking account. When you want to watch your spending, use dollar bills instead of credit cards. It’s harder to part with cold, hard cash.

3. Prep for grocery shopping

A little work before you go to the grocery store can go a long way to help you save money on groceries. Check your pantry and make a grocery list to avoid impulse buying something you don't need. Learn how to get coupons, and join loyalty programs to maximize your savings as you shop.

On-demand coaching with a certified financial planner

Talk to an expert any time, any place with unlimited chat and video sessions on NerdWallet Plus.

4. Order smaller servings at restaurants

Opt for appetizers or split an entree with your dining companion to save money when you eat out.

5. Get discounts on entertainment

Take advantage of free days at museums and national parks to save on entertainment costs. You can also ask about discounts for seniors, students, military members and more.

6. Map out major purchases

Time your purchase of appliances, furniture, cars, electronics and more according to annual sale periods. Don’t buy anything hastily, either. Always wait a day or two before buying to limit buyer’s remorse.

7. Restrict online shopping

Make it more difficult to shop online in order to stop spending money on things you may not need. Instead of saving your billing information, force yourself to input your shipping address and credit card number each time you order. You’ll probably make fewer impulse purchases.

Before you build a budget

NerdWallet breaks down your spending and shows you ways to save.

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8. Make your own gifts

Go the DIY route or save money with affordable gift ideas, like herb gardens and gift baskets.

9. Reduce your gas usage

You can't control prices at the pump, but you can do several things to cut your gas use and save money. Try a gas app to pinch pennies when you do fill up.

10. Lower your car payment

Refinancing your auto loan and taking advantage of lower interest rates could save you considerably over the life of your loan.

11. Bundle cable and internet

You could lower your cable bill by as much as $40 per month by changing your cable package. And you could save more than $1,000 over two years by bundling your cable and internet service, depending on your carrier.

12. Switch your cell phone plan

Changing your plan is one way to save money on your cell phone bill, but it’s not the only way. Removing insurance from your plan could save you nearly $100 per year, per line.

13. Monitor your electric bill

Big and small changes in your energy usage can help you save hundreds annually on your electric bill.

14. Lower your student loan payments

Income-driven repayment plans can lower your monthly student loan payments by several hundred dollars each month.

15. Cancel unnecessary subscriptions

Uncheck the auto-renew option on any subscriptions you aren’t using regularly, such as subscription boxes or streaming services.

16. Track spending

Keep track of your monthly cash flow — your income minus your expenditures. This will also make it easier to mark progress toward your saving goal. Try a budget app that tracks your spending. (NerdWallet has a free app that does just that.) Or you can follow these five steps to help you track your monthly expenses.

17. Refinance your mortgage

Refinancing your mortgage to snag a lower interest rate can save you several hundred dollars each month. Use our mortgage refinance calculator to find out how much you could save.

18. Set savings goals

Set a specific but realistic goal. It may be “save $5,000 in an individual retirement account this year” or “pay off my credit card debt faster.” Use a savings goal calculator to see how much you’d have to save each month or year to reach your goal.

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How to save money with a budget

One smart way to manage your money — and hopefully hold on to more of it — is to follow a budget.

At NerdWallet, we think about a budget as a spending plan because saving money doesn’t mean you have to quit spending altogether. It just means you have to prioritize some financial goals over others.

We recommend the 50/30/20 budget for smart money management. Devote 50% of your income to necessities, 30% to wants and 20% to savings. If you find one of your allocations exceeds these percentages, make some adjustments to fit the formula.

As you work toward your ultimate financial goal, make sure to put your newfound funds in a good high-yield savings account to maximize your money. Some of the best online accounts pay interest rates that are much higher than large traditional banks.

Track spending by category, compare months and spot ways to save.

Money Management: 4 Tips for Mastering Your Finances

 

What is money management, exactly? It’s a plan for your money so you can make the most of it. This plan typically involves budgeting and saving money, avoiding or reducing debt and investing in your future.

If learning how to manage your money sounds intimidating or stressful, take it one step at a time. Below are money management tips to help you gain control and, more importantly, peace of mind.

How to manage your money

1. Take inventory of your finances

Money management is about more than making the math work out. It’s about adjusting your mindset, too.

Take a mental inventory of your current position.

Are you consistently overspending?

Do you have enough saved up to survive an unexpected expense?

Do you live paycheck to paycheck?

Do you feel overwhelmed by financial jargon?

Be honest with yourself about where your weaknesses lie. You might’ve made some missteps in the past, but you don’t have to continue on that path. Here’s how to manage your money now, while preparing for the future.

2. Build a money management blueprint

How do you put your plan in action?

Use the steps below to build a blueprint that works for your finances.

 

Start with a budget

If you’re not sure how to budget, start by choosing a system that you’ll stick with. We like the 50/30/20 budget plan, which allocates 50% of your income for needs, 30% for wants and 20% for savings and debt repayment. This 50/30/20 budget calculator divides your income into these categories.

If the 50/30/20 rules don’t work for you, there are plenty of other types of budgets to choose from. You may also find that a free budget app helps you stay on top of your finances.

Track your spending

By tracking expenses, you can see exactly where your money is going. It may inspire you to stop spending so much in a certain category or adjust your spending habits so they better align with your goals.

Find ways to save

As you pay more attention to your finances, you’ll likely find opportunities to save. Here’s how to save money, from tweaking daily habits, to negotiating bills, to making long-term changes.

Ideally, over time, saving money will become part of your lifestyle. If you want to learn more about saving money with coupons, freebies and DIY hacks, check out our guide to frugal living.

Use designated accounts for spending and savings

One way to make money management easier is to keep money designated for bills and budgeted expenses separate from your emergency fund. This will reduce the temptation to dip into it for nonemergencies. Saving for a house, vacation or new car? Stash those funds in separate accounts so you can see progress toward each goal.

Make a plan to pay off debt

A strategic approach to debt repayment will help you reach the debt-free finish line faster. We recommend tackling your most expensive debt — the accounts with the highest interest rates — first, while making minimum payments on the rest. Then, work your way down through any lower-interest rate debt until it is all paid off.

» Here are tools and tips to help you pay off debt

Develop good credit habits

Your credit can determine whether you’re able to get loans and the rates you pay on them, as well as many other aspects of your financial life. A credit check may be part of getting a cell phone plan, apartment or car insurance.

To stay on top of your score, focus on the two biggest factors that influence it: payment history and credit utilization (how much of your credit limits you’re using). Aim to pay everything on time, because just one missed payment can hurt your score, and use less than 30% of your credit limits on each card and overall.

» Learn what a good credit score is and how to get one

Invest in your financial future

Set money aside now, in a 401(k) or IRA, and let compound interest work its magic. The ultimate goal is long-term financial freedom and stability. Not sure how much you need to save? Try our retirement calculator.

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3. Make the most of your savings

Money management goes beyond spending less than you make. A true sign of financial prowess is saving enough to live comfortably in the long term as well as the short term.

You can achieve this in four steps:

Piggy bank

Save

Start socking away extra money to build an emergency fund. Ideally, you should have six months’ worth of living expenses at your disposal in case the unthinkable happens. If that seems too ambitious, start small. A $500 reserve is a great first goal.

 

Investment portfolio icon

Invest

Invest extra money for your future. Set yourself up for retirement by contributing to a 401(k). If your company offers a match, contribute enough to get the maximum.

 

Pay off debt

Whether it’s a loan or a looming credit card bill, you probably have some debt obligations. Always make at least the minimum monthly payments so you don’t suffer credit score damage due to a late payment. If you have extra money for bills, pay down the high-interest debt first.

 Repeat

Keep building up that emergency fund, investing for retirement and knocking down debt.

 

 

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4. Be persistent

Despite their good intentions, many people fall off the financial bandwagon. Sticking to a budget that’s too restrictive can be suffocating. Navigating investment jargon can be confusing. But don’t get discouraged.

You didn’t get in the financial position you’re in overnight, and you won’t get out of it overnight, either. Give yourself time to learn and grow. With hard work and dedication, you can manage your money with confidence.

The Ultimate Shopping Guide: 8 Proven Ways to Get the Best Deals Online

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Online shopping has become a routine part of life. With a few clicks or taps, you can buy virtually anything. But before you restock on toilet paper or purchase those trendy sneakers from the ad in your Instagram feed, make sure you’re not spending more than you have to.

Here’s how to shop smart and find the best prices online.

1. Set a budget and make a shopping list

You likely already plan for big expenses, such as vacations, weddings or college tuition. Planning out everyday purchases is just as important. Making a budget that accounts for clothing, gifts, groceries and other expenses will help you figure out how much you can afford to spend — and avoid debt. The 50/30/20 budget is one template you can use to split your monthly income between the things you need and nonessentials.

With a budget in mind, be more intentional about what you buy. Write a list of the items you aim to purchase before you start shopping to avoid impulse buying. Sticking to the items on the list will prevent impulse buying and make it easier to follow your budget.

2. Shop at the right time

Did you know you can usually pay less for a TV in February than in March? There’s a best time of the year to buy almost anything, including pencils, bedding, appliances, furniture and more. Look for steep discounts during end-of-season sales and major shopping holidays. Here’s the rundown on a few big events:

Back-to-school sales

Late summer brings savings on classroom and office supplies, outfits, computers and more. Several states also participate in sales-tax holidays in or around August, waiving the sales taxes on certain back-to-school items.

Labor Day sales

Labor Day events in September are best known for mattress discounts. But shoppers can also find some of the year’s lowest prices on home furnishings, appliances and summer inventory.

Black Friday deals

You don’t have to sacrifice Thanksgiving dinner to get a stellar deal. Retailers release Black Friday ads (and even discounts) as early as October. Plus, many offer the same deals in stores and online. Sales roll into Cyber Monday events the week following Black Friday and beyond. You’ll typically find the top deals in product categories such as personal electronics and small kitchen appliances.

Superstores like Target and Walmart hog the Black Friday spotlight, but drugstores, wholesale clubs and other businesses get in on the action, too. Check your mailbox, inbox and retailer websites for announcements, so you can plan when and where to shop.

3. Apply coupons

Knowing the basics of how to coupon can help you save on purchases from grocery stores and other retailers. Try a free coupon app, or build the habit of searching for coupon codes every time you shop. Spending a minute or two on aggregator sites could get you $1 off that shampoo on your list or free shipping on an order.

4. Compare (and match) prices

Different retailers sometimes sell identical products at nonidentical prices, so it pays to do a little research. Before buying an item, scope out a few sites. But sticker prices can be deceiving; be sure to include details like shipping costs and coupons in your comparisons.

Look into price-matching policies, too. Companies like Best Buy and Target may match a lower price found on a competitor’s site. Some will even give you a partial refund if you spot a price drop soon after purchasing an item. You can call a retailer’s customer service number or use its online chat feature to request an adjustment.

» MORE: NerdWallet’s guide to personal finance

5. Use shopping tools and apps

If keeping up with money-saving strategies makes shopping feel like a homework assignment, try automating the work. Popular browser extensions and apps, such as Honey and Rakuten, can locate coupons, track prices and more — so you don’t have to.

6. Buy online, pick up in store

You can shop online and get your order the same day (possibly at a discount) without paying shipping costs. The catch: You have to make a trip to the store to fetch it. But curbside and in-store pickup options can be worth the minor inconvenience, especially when you consider the money you’ll save by spending less time near tempting displays.

7. Get rewards

You can earn money, points or other benefits — often on top of regular discounts — through rewards credit cards, retailer loyalty programs and cash-back apps. But don’t let the promise of a reward encourage you to buy things you don’t need.

8. Score free stuff

Discounts are great and all, but you can get freebies online too, such as gift cards. Before you buy a new coffee table, why not browse Craigslist for a free one? Learn how to get free stuff from community marketplaces, libraries and more.

How To Make Millions By Playing Games On Twitch

Twitch is the go-to platform for gamers, with more than 4 million broadcasters each month and 17.5 million average daily users, all playing or watching other people play video games. It’s also the destination for gamers hoping to turn their hobby into a little extra cash and make money without a traditional job.

Some broadcasters earn seven figures per year, thanks to subscriptions, sponsorships and a share of ad revenue, among other things. Granted, they typically have tens of thousands of followers and spend hours each day broadcasting, gaming and hosting other games on their channel.

But you don’t need to be an elite user to cash in on the site. Here’s how to build your audience and start making money on Twitch.

Building a Twitch audience

You can’t attract an audience on any online platform overnight. It’s the same with Twitch.

“Successful channels — like companies — are built up over years, not over days or weeks,” says Jordan Slavik, an avid gamer who has advised Twitch broadcasters on building a following. “The most important thing is to keep producing materials.”

You might make a little money here and there at first, but don’t expect a steady income until you’ve put in a lot of work. Find your niche, whether it’s a game, genre or shtick — if you’re not the most skilled player, for example, be the funniest. Set a regular streaming schedule so fans know when to tune in. Use your existing social media accounts — Twitter, YouTube, Facebook, Instagram, etc. — to promote your Twitch broadcasts. And support other Twitch users by watching and engaging with their streams.

Your marketing and networking skills are almost as important as your gaming skills, Slavik says.

Once you attract viewers, interact with them. Ask questions. Crack jokes. Respond to chats. An entertaining broadcaster gets fans to tune in stream after stream.

Track all the money you make

See the ins and outs of your cash, cards and bank accounts at a glance.

How to make money as a novice

When your audience grows, so does your potential to earn money. But there are a few ways you can cash in as you’re still growing your following:

Donations

Twitch users like to support their own. One of the main ways they do this is by donating money to their favorite streamers. Add a “donate” button to your channel — via PayPal or a third-party app, such as Streamlabs — and let viewers show you the money.

Brand partnerships

Companies use Twitch streamers to get their products in front of people, and the streamers get a kickback in return. This is typically referred to as a partner or affiliate relationship (not to be confused with Twitch’s partner and affiliate programs, more on that later).

Affiliate opportunities for Twitch streamers can come from companies that sell hardware and software, energy drinks and accessories, such as headsets and chairs. Commissions vary, but for example, Razer — the hardware and software company — offers affiliates up to 20% commission on the sale of its products.

Brands don’t typically come to you unless you’re a big-time gamer. Talk with other streamers to suss out affiliate opportunities.

Merchandise

If you have a dedicated audience, consider selling your own merchandise — think t-shirts, stickers, coffee mugs and laptop cases — via a third-party site such as TeePublic or Spreadshop. Just create a storefront, stock it with items — bearing your own design or curated from other sources — and promote it on your Twitch channel.

How to make money as a Twitch Affiliate

Streamers who meet a specific set of criteria can become a Twitch Affiliate. The program is invitation-only, and you must have met the following milestones within the past 30 days to be eligible, according to Twitch:

A minimum of 500 total minutes broadcasted.

A minimum of seven different broadcast days.

An average of three concurrent viewers or more.

At least 50 followers.

Joining the program comes with additional ways to earn money on Twitch:

Subscriptions

Viewers can subscribe to your channel to unlock perks, such as exclusive chat rooms, emoticons and merchandise discounts. Monthly subscriptions start at $4.99, with $9.99 and $24.99 options available. Affiliates receive a cut of each subscription.

Virtual cheers

Another way viewers lend monetary support is via virtual cheers, called “bits.” Viewers buy bits — which come in different colors and sizes — from the chat window, according to Chase, Twitch’s former director of public relations, who goes by only his first name. The price starts at $1.40 for 100 bits. Viewers then dole them out to their favorite broadcasters, who receive a cut — 1 cent for every bit used in their chat.

Game sales

Say you’re streaming yourself playing Warframe. Viewers can purchase the game and in-game add-ons directly from your channel using a “buy now” button. This button automatically appears whenever you play games sold in the Twitch store. Affiliates receive a 5% share of purchases that originate from their channel.

How to make money as a Twitch Partner

Partner status is the top tier for Twitch earners. Unlike Twitch Affiliates, who are automatically invited to join the program, users must apply to become partners.

Twitch Partners earn money the same way as affiliates and general users, but they also receive a share of ad revenue generated from their page. Partners are also likely to get endorsement deals and brand sponsorships.

How To Make Millions From Tik Tok in 2022

TikTok can get you wondering: Where did the last hour go as you scrolled through micro-videos of choreographed dance challenges, baffling illusions, makeup tutorials, giggling babies,  practical jokes and who knows what else?

Also, how do TikTokers make money? And is this a venture you’d want to pursue — going from viewer to creator? Here’s what you need to know:

3 ways people make money on TikTok

1. They market their business and attract new clients

2. They score sponsorships

3. They tap TikTok’s ‘Creator Fund’ 

1. They market their business and attract new clients

Say you already have hobbies that make money. Perhaps you sell stuff online, or consult with clients for a fee, or make money on YouTube. Your TikTok content may attract more buyers, clients or viewers.

“It’s an incredible way to drive traffic to other channels — to your website, to your email list or to your YouTube channel,” says Keira Jones (@thekeirajones), a Phoenix-based TikToker who also manages and advises brands on the platform.

This is exactly how Orlando-based TikToker Connie Rietdyk (@connie.rietdyk) makes most of her cash.

She worked as a consultant on website design and search engine optimization as a side hustle for several years, but the income was “nothing to write home about,” she says, “just enough to cover an extra bill.”

She earned most of her money working at a call center until that contract ended in May 2021. With no other job lined up and unemployment benefits delayed, Rietdyk started leveraging TikTok, which she'd previously used only to view and post personal content.

In Rietdyk’s TikTok posts, she started giving small-business tips on website design and SEO. Starting with about 200 followers last May, she now has more than 11,000 — and several followers have become paying clients.

In September 2021, Rietdyk estimated that 80% of her income was coming from TikTok referrals; she'd earned nearly $11,000 since May and more than $4,600 in July alone. She found it to be enough to cover all her bills and stash away some savings on top.

“My goal is full-time, independent entrepreneurship,” she says. “I feel like I’m on the cusp of it.”

2. They score sponsorships

Let’s say most of your TikTok posts are about one particular subject, like caring for dogs. There may be dog food brands and leash manufacturers who want to tap into your pup-loving audience. Those companies may request your help.

The process could work in a few ways. Maybe the company sends you a free product, like a dog toy, and asks you to mention it in one of your TikTok videos. Or maybe you agree to plug the toy, but only if the company also throws in some cash.

Or maybe you really get down to business. You formalize a contract with the company for a certain number of posts about the toy in exchange for an agreed-upon amount of money. You could also reach out to companies yourself and pitch an agreement like this, particularly if you’re already using and mentioning their products.

Sponsorships like this are how Jones makes most of her money on her personal TikTok account, where she shares marketing tips. “Brands that are marketing tools are reaching out to me,” she says, “because I’m either already organically talking about their product, or they know that my audience would be interested.”

Brands started reaching out to Jones when she hit around 15,000 followers. When it comes to sponsorship opportunities, the number of followers you have may be as important as having a specific angle, such as dog care or online marketing. (More on finding your niche later.)

As Jones puts it: “The more niched down you are, the more likely it is you’ll be reached out to.” By contrast, she says, a general lifestyle influencer is probably less likely to score sponsorships. Those influencers’ audiences may have broad, hard-to-define interests, making them less appealing to sponsors.

Note that branded content must be disclosed in some way, typically through a hashtag in the description, such as #ad or #sponsored.

3. They tap TikTok’s ‘Creator Fund’

This resource is “basically a pool of money that TikTok distributes between everyone in the Creator Fund,” Jones says.

You can apply for this fund if you have at least 10,000 followers, received at least 100,000 video views in the last 30 days, and have met a few other qualifications such as being 18 or older.

How much money can you expect to make? The answer is a little hazy. TikTok’s Creator Fund page states the following: “A number of factors influence how funds are calculated for videos under the program. These elements include video views, video engagement, as well as ensuring the videos adhere to the Community Guidelines and Terms of Service.”

Unless you’re really hustling and pumping out successful content, this fund probably won’t be your main source of income, Jones says. She earns just a few dollars or cents per day through the Creator Fund — coffee money, she says. But even though the earnings aren’t much, she says, it’s “fun to see that your effort is being rewarded in a way.”

Tips for making money on TikTok

If you think you could capitalize on TikTok’s growing popularity, now is the time to try. “TikTok is the future,” Jones says. “A lot of people, in two to three years, are going to be looking back like ‘man, I wish I would have gotten started sooner.’”

However, if you plan to make money on TikTok, consider the following advice.

Find your niche

Making money on TikTok will likely be easier if you stick to a niche, rather than posting a broad array of content. So start by “determining the niche you want to grow in,” Jones says.

If you plan to use TikTok to support another gig, let that industry guide you. Or if you’re aiming for sponsorships, consider the audience you want to attract.

Research that niche and engage with its community. Search on TikTok for videos and accounts about the subject, Rietdyk says, then “like” and comment on that content.

By engaging, “you’re training TikTok to show you the kind of content that interests you,” she says. The platform will start serving you similar content. Then, when you start posting, TikTok will likely show your content to a relevant audience.

For example, say you create jewelry, and you want to use TikTok to send viewers to your Etsy page. Maybe in the future, you’d also be open to posting sponsored content.

Search for and follow TikTokers who are interested in jewelry and engage with their posts. TikTok will likely feed you more of the same content from similar TikTokers. Then, when you start posting, your content likely will be seen by the exact audience you want: people who like jewelry.

Rietdyk stresses the importance of engaging with others, building a community and posting relevant content before trying to sell your stuff. (So maybe you post how-to videos or advice first.)

“You don’t want to promote to a cold audience,” she says. “Give a lot of value for free before you even start asking for anybody’s money.”

Be authentic

To that same point, try to be yourself. “Don’t be fake,” Rietdyk says, adding that “TikTokers can tell if you’re doing something just for a ‘like.’”

As for sponsored content, only promote products “you genuinely use and love,” Jones says. She says she turns down partnerships for products that don’t check those boxes.

Jones adds that if you promote too many products, “your audience will get annoyed and feel like they’re being used.”

Have fun

“If your only intent for starting TikTok is to make money, then you’re probably not going to succeed,” Jones says.

Like with any social media presence, she says, serving your audience should be your No. 1 priority. “That’s when people will be attracted and want to follow you,” she says.

Rietdyk adds that it’s important to “keep it positive.” She recommends setting small, achievable goals — a certain number of sales or amount of income, for example. Then, she adds, “celebrate the wins.”

Other ways to earn money

If making money on TikTok isn’t for you, consider these alternative routes:

Want to try another video platform? Try to make money on YouTube.

If you’re a gamer, look into how to get paid on Twitch.

Looking to clean house? Try to sell stuff online or make money on eBay.

If you’re writing anyway, consider how to make money blogging.

8 Great Ways to Make Millions From Home

As the normalization of remote work continues, you can take advantage of a range of ways to make money from home. From selling items online to starting a podcast to offering your services as a virtual assistant, there are lots of opportunities to earn an income without leaving the house.

If you’re seeking a more traditional job format but still want to work from home, you’re in luck. Remote job postings—which doubled for some online recruitment sites during the pandemic—continue to rise. Regarding the remote positions available, tech jobs are among the most prevalent, but work-from-home opportunities have also risen in therapy, finance, and law.1


Where to begin when searching for remote work? “I’d encourage the job seeker to start by reflecting on their interests and career goals,” Indeed Senior Career Coach Jamie Birt told The Balance in an email.


Next, Birt recommended taking into account the jobs that are commonly performed remotely, such as copywriting, graphic design, and software development. Adding the term “remote” in job search engines can give you an idea of what’s available.


Last, bridge your career goals with the remote jobs that are available, Birt advised. When you find remote positions you like, take note of your current skill set to identify translatable skills, as well as any gaps where you’d need additional training or upskilling.


We’ll discuss eight remote moneymaking opportunities that can help make working from home a reality.

Sell Your Used and Unwanted Items

Clearing out and tidying up your home will likely leave you with piles of things you no longer need or use. You can bring in some extra cash by selling items online that are in good condition.

There are lots of virtual marketplaces where shoppers can go to find a variety of things. eBay is a popular place to sell just about any used item online. Other sites may be more specialized, such as thredUP, which is clothes-specific, or Decluttr, which focuses on cellphones, tech, CDs, DVDs, games, and books.

If you prefer to keep your sales local, you could check out sites like Craigslist, or keep things offline by having a garage sale or taking your items to a consignment store.

When listing items for sale online, you’ll want to include good photos and an accurate, detailed description.

Start a Podcast

“Podcasting is replacing blogging as the moneymaker for a lot of people working from home,” Joseph Hogue, who runs the site My Work From Home Money, told The Balance in an email. He added that advertising dollars are shifting from text-based to podcast sponsorships.


While it can take some time to grow an audience for your podcast, there are several ways to make money podcasting, including selling advertising time, adding affiliate marketing links, offering subscriptions, throwing live events, crowdfunding, selling merchandise, doing speaking gigs, or coaching others on how to host a podcast.


Make Money on YouTube

Momentum has been picking up in video monetization, said Hogue from My Work From Home Money. He suspects that vlogging will take over from podcasting once high-speed internet is universal.


Popular ways to make money on YouTube are monetizing ad views, running paid promotions, and being part of the YouTube Partner Program, among other opportunities.

 

Affiliate Marketing

If you have an audience through a website, social media, or other platforms, you can generate some extra income by including affiliate links. Affiliate marketing is when you earn a commission on the sale of someone else’s products. A common way is to have a link to another company’s website or product in your own content—if a reader clicks on your link and buys the product, you get a cut of the sale.

The Amazon Associates Program is a well-known affiliate network; you can find other affiliate marketing opportunities on platforms like CJ Affiliate, Rakuten LinkShare, ShareASale, and many more.

Familiarize yourself with the Federal Trade Commission’s (FTC) Endorsement Guides before starting with affiliate marketing. You’re required to disclose when you have a financial interest in a product or service mentioned on your site, along with other obligations.
Become a Virtual Assistant

As the workforce transitions to remote work, the demand for virtual assistants is expected to continue to increase. Virtual assistants, or VAs, work remotely to help with administrative tasks—they can work for individuals, teams, or companies. The workload of an administrative assistant usually involves tasks such as answering phone calls and taking messages, running social media accounts, scheduling appointments, and doing research, among other duties.

When starting a VA business, it can be challenging to land your first customer. VAs can find clients through social media channels like LinkedIn or Facebook groups, at virtual or in-person networking events, by word of mouth, or on freelancing platforms like Upwork.


Sell Your Photos Online

Make money online from home by selling your photography, video clips, vectors, and illustrations. Upload your content for individuals and companies to buy for use on their websites, platforms, or other needs. Try listing your work on sites like iStock, Dreamstime, and Adobe Stock.


Offer Your Expertise

If you’re an expert in something, consider creating resources to teach other people. Once you’ve made the initial effort of putting together the content, it can act as a passive income stream.


Online courses, webinars, and ebooks are all common ways to share information. You can build and promote the resources on your own or use educational platforms that already have established communities, such as Udemy or Skillshare.


Pick Up Freelance Work

Platforms such as Fiverr, Freelancer, and Upwork are popular online marketplaces that connect freelancers and clients. You can list your services on these sites and check out the opportunities available. You can do freelance work in several different fields—for example, writing and editing, marketing, graphics and design, programming, and translation.

Many remote moneymaking ventures can be started with little or no money, said Hogue from My Work From Home Money. You don’t have to spend hundreds for an online course or mentorship; you can find the information you need for free online or at a low cost through an ebook.

The Bottom Line

Growing your venture takes time, and you’ll likely need to put several different income streams together. Find ways to incorporate different moneymaking aspects into one business model. For example, you may be focused primarily on making money through blogging, but you also bring in funds with affiliate marketing and an online course you created that teaches others how to build their own YouTube channel.

There are lots of opportunities to make money from home; don’t be afraid to try out different options to determine the best fit for you.

7 Ways to Up Your Income Online

More and more people are looking for ways to earn money online. Some are turning to side hustles to make a little extra money, while others are creating internet businesses that become their full-time job.

Let's take a look at seven ways to make money online that can take up a little or a lot of your time. Think of these options as supplemental sources of income, most of which have the potential to be a whole lot more.

Affiliate Marketing


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Affiliate marketing can be a low-cost and relatively easy way to make money online. You don't need to have any of your own products or services to sell; affiliate marketing gives you a chance to earn commissions from large companies.

You promote the products or services of a company on your website/blog or social media account, providing links to the company's offerings. These affiliate tracking links ensure you get the credit for having delivered a paying customer to the company's website, and you get a percentage of the sale as your reward.

The main work involved in affiliate marketing is giving people a reason to visit your website/blog—or Instagram, Facebook, Twitter, or other social media account—and building up a large group of visitors and followers. To do that, you should provide content that is likely to attract people who are interested in purchasing the thing you're trying to get people to buy. For example, you might write and make videos about consumer electronics products—how to use them and/or which ones are the best—in a way that's optimized for search engines.


Start Your Own E-Commerce Website


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A related way to make money online—but that perhaps requires a bit more work on your part—is with an e-commerce website. You would sell products from your website, either your own that you create or commercially available ones.

If you choose the latter route, the most common and hassle-free way to fulfill orders is via dropshipping. You get the customers and take their orders, but a third-party company warehouses and ships the products for you.

It's better to focus on one product category that you can create your own niche in and devote your website to.

If you make your own products, you might want to start out selling them on both an established platform, like Etsy, and your own site. After you build up a base of customers, you could ultimately cut out that middleman.

You can further monetize your e-commerce website by hosting ads, such as with Google AdSense.


Online Publishing


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Regardless of your current occupation, publishing nonfiction e-books is a good way to help establish yourself as an authority in your field while making passive income. Once you've written and published the book, you don't have to actively do anything to take in revenue from it.

Alternatively, if you've written a novel that needs to be read—especially in a popular genre like romance, science fiction, fantasy, or mystery—publishing it as an e-book has the potential to get thousands of eyes on it.


The two biggest companies that enable you to self-publish e-books are IngramSpark and Kindle Direct Publishing.

You can sell e-books on platforms like Amazon.com. If you can make a name for yourself as an author, you can begin selling e-books directly from your own website and increase your profits.


If you've been blogging for a long time about a certain topic, you should be able to edit and package your existing posts into a book without too much additional work.

Consumers of self-published e-books expect a quality experience that's on par with the offerings of a traditional publisher. If you don't have all the skills to ensure a polished final product, you might consider hiring a copy editor to fine-tune your writing and a designer to create an enticing cover. And if you're having trouble transforming your ideas into paragraphs and chapters of prose, you could hire a developmental editor to help you with that beginning part of the process.


Take Online Surveys


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Taking online surveys is an easy way to earn a little extra cash or prizes such as gift cards. Market research firms (MRFs) are behind many online survey sites, including American Consumer Opinion, which is owned by Decision Analyst. You can also sign up to take surveys using aggregators like IdeaShifters or Swagbucks, which partner with many different corporations and MRFs.

You shouldn't expect to make more than a dollar or so per survey. And you will most likely have to provide a good deal of information about yourself before you can take the first one.

When looking for survey-taking opportunities, stick with companies that have a proven track record of paying for survey responses and that are not scams designed to get your personal info. You should also keep in mind that you may not be eligible to take certain surveys because you don't match the demographics the company is looking for. You may be too old or too young, for example.


Online Freelancing


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If you have a specific skill-based service you can carry out remotely, such as IT services, copyediting, or graphic design, you can offer it as an online freelancer. If you can find and accept enough gigs, you could become a full-time freelancer in your field. Or you could take on occasional assignments to supplement the income from your main job.

You can find gigs using freelance-specific websites such as Freelancer and Upwork, as well as big job sites like Indeed. You should also consider joining an organization specifically for freelancers in your area of specialty. Such groups often let you post online information about yourself and the specific skills you can provide, and they may send out email alerts or have a jobs board with contact information for those seeking freelance help.

A freelancer's organization can also provide a social outlet, connecting you with people who do the same work you do and are interested in the same things as you.

A site like Meetup may be a good place to begin finding others who share your interests and skillsets.

Coach Online


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Life coaching is another promising online career option, particularly if you have solid communication skills and a desire to help others succeed in their personal or professional life. Many people need a nudge to get them past a mental roadblock that's standing in the way of personal happiness or career confidence. As an online coach, you can offer advice to help them change their mindset and improve their lives.

Life coaches should not attempt to take the place of trained mental health professionals. Coaches deal with matters like personal growth and achieving goals, not overcoming mental illness.

One of the hardest things about becoming a life coach is finding a client base. When you're just starting out, you might try advertising online and offering to speak to community groups.

Having a professional certification can make you a more credible choice when someone is seeking a coach. And offering the testimonials of previous clients on your website also makes you a more attractive candidate.


Offer Online Courses


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Like e-books, online courses generate passive income after you've created them and made them available online. If you have a knack for teaching and a set of skills you would like to share with others, consider creating online courses as a way of making additional money.

The primary website where you could post your courses—and get paid for them—is Udemy. But as with the other online businesses, if you can establish a reputation, you might have success offering your courses through your own site.

In addition to knowledge in a particular subject area, you will need to have an engaging presence in your videos. If you can't retain potential students' attention, they won't come back for more classes.

The Bottom Line

There's a lot of competition online for many of these money-making opportunities—especially with more and more people unable or unwilling to work in a traditional setting. According to Stanford University economist Nicholas Bloom, 42% of U.S. employees were working from home full-time as of June 2020.1

To make a go of most of these possibilities, you will have to stand out from the crowd and convince prospective clients and customers that you're the right person to buy from or hire. Becoming successful at any online occupation requires exceptional online marketing skills. If you can learn how to successfully sell yourself and gain followers and search engine hits, your business's success should follow.