The Internet has never been a better place for starting your own business, reinventing yourself or only attending classes you thought you would never be able to. Staying at home has been difficult for many, not only because of various situations we are all in, but because we have to be with ourselves and with our mind more than ever. Let’s make some use of it!
1. Try teaching online
Numerous websites offer the opportunity of teaching online. It’s mostly languages, where, if you are a native, your paycheck will be higher compared to other teachers that aren’t. There are a few things you need to check with yourself, even though this isn’t much of a fuss. First thing would be whether you want to teach kids or adults? Maybe you are comfortable with teaching both? Are you suitable to teach business English (maybe those would be the best for you as a teacher)? If you are not sure, try out every “category” for a short while, and see for yourself. You will usually have prepared materials that the company gives you, so you’ll have to browse through it before you start the class. If you want to teach something else rather than language, then you should check out number two, which is:
2. Start an online course
When people mention “passive income”, this is one way to have it. Passive income means that you have a specific product that you put your time, money and effort into making it. Now that it’s done, it’s up to upcoming customers to purchase it. That can vary from card decks, prints of your digital drawings, to courses. Taking the course as an example, you would choose a topic you think you can educate people about, and start from there. This will be a lengthy process, while you figure out the concept, you much want your classes and course to last.
Additional homework and similar things can come to mind, but that’s up to you. In 2020 an opportunity to have your course within a certified online courses website has become possible, so if you have the time, you can make one, too. Again, this is a source of passive income, because once you’re done with the work and publish your course, whenever somebody purchases it, you will get a certain amount of money on your bank account.
3. Try trading online (safely!)
Forex trade is always a good source of passive income, but be ready to do some proper research. Foreign exchange can be a great source of income in general, but you have to be prepared to learn about it, find a good broker (that means someone who is certified, has good reviews online like the full IG review, etc.), and once you start your trading account, remember to be patient! A common beginner’s mistake is to start too big for your good. Luckily, if you check your broker’s background and you are safe to go, he will tell you that investing all you have because you heard “Bitcoin is ideal right now”, is just not a good choice.
The thing is, a broker who’s educated, wants their customers to grow as traders as well. First of all, investing all your money in one thing is not responsible, and you want to start small, so you can see how everything functions. Also, even if you lose a large amount of money, it’s not going to affect your pocket significantly. That’s why everyone should start with a small investment and then gradually build up. That’s how over time you get to have a passive source of income thanks to Forex.
It’s up to you what you want to start online. It might be something you always put second because you were too busy commuting to work and then back. Maybe you were afraid of starting something new, that is out of your comfort zone. Sound cliche, but when if not now? An additional source of income that you could make by doing something that you like, or you have an interest in can only make you more optimistic about money in general.
It would be best if you weren’t afraid of making more money or exploring different ways of generating it. Times are ever-changing, and so are your views on everything. As you are a few clicks away from seeing your relatives on another continent, so you are from finding a way to earn income. It can often come from places you least expect from, so experiment, and see what suits you best. We wish you luck!