6 Ways to Make Money Online in 2023
By TOI Staff January 13, 2023 Update on : January 13, 2023
After 2020, most of the workforce got used to working from home. In the following years, there has been an influx of ways to make a living online — and not just from your regular job. There are plenty of options to earn an income from freelance work, investing in stocks, dropshipping, using passive income apps like Honeygain, and more. If it sounds appealing to you, remember that you will need essential equipment, e.g., your laptop, a stable Internet connection, and a quiet corner in your home. Sounds like a plan?
Here are six ways to make money online in 2023:
Freelancers have provided their services online for a long time. However, after the COVID-19 pandemic, freelancing platforms experienced a boost in popularity and became the main hubs for extra work. Upwork, Fiverr, and Freelancer are the most popular places to list your abilities and offer services to a global audience
You can utilize any skill you have for freelancing — writing, designing, editing, developing, coding, consulting, and more. Usually, you will get paid by the hour and you can increase your hourly rate with experience. It is a viable option for people looking to earn extra money as well as making it their primary source of income. Many people have switched to freelance work instead of employment and if you need some motivation, research their success stories!
Dropshipping has been around for several years as a passive income source. It is a business model where you do not hold any inventory and sell products online. The basic operation is simple. You find your niche and a suitable supplier, set up an e-shop, and market the product to your customers.
You can imagine yourself as a middleman between the supplier and the customer. Your responsibilities include marketing your shop, connecting with potential customers, and driving engagement to your website. Consequently, the supplier ships your orders directly to customers, and you make a profit! Keep in mind that you will need to pay your supplier, so set the prices a bit higher to make money.
3. Online tutoring
If you have knowledge on something that is relevant to students, you can make money by tutoring them online. It is one of the most in-demand side hustles in 2023. You can connect with students from across the globe and teach them Maths, Languages, History, or Biology through Zoom, Teams, Skype, and any other e-learning tool.
Some university students require tutoring as well, so you can teach subjects you have a degree in. Also, there are countless templates of teaching material to help you craft your tutoring sessions. You can get started today by signing up for tutoring jobs on specialized websites and making money by sharing your knowledge!
4. Stock market investing
The stock market can be confusing for beginners, but there is plenty of courses that can teach you how to make money from it. Some people prefer the old-fashioned method of investing in stocks and bonds, while others favor cryptocurrencies and ETFs. A lot of research is required to start investing in the stock market, but it is one of the best ways to build wealth. You can download micro-investing apps to get a better understanding of this niche.
5. Online surveys
You can share your opinions about products or services and get paid for it. Companies are continuously gathering feedback from their customers to improve their product quality or customer service. There are online surveys, focus groups, interviews, and more options to give your opinion for money. Check out the most suitable one for you, as every option has its advantages and disadvantages.
6. Passive income apps
With technological advancement, we are able to earn money through apps on our phones or computers. One of the most popular passive income apps is Honeygain, a crowdsourced web intelligence network that allows users to share their unused Internet connection and get paid. The shared connection is used by Honeygain’s partners for brand protection, ad verification, marketing checks, and other purposes.
Moreover, users earn money by gathering traffic as the Honeygain app is active on their devices. You simply need to sign up for a Honeygain account, download their app and keep it open to make money passively. You will get $3 for every 10GB you share and some bonuses. For example, Honeygain’s referral program will give you +10% equal to your referral’s daily earnings. It is an interesting way to make money online in the digital age!
While there are countless side hustles you can do to make money in 2023. These are just a few examples of the most popular activities. Many people are earning money online, and some of them managed to make it their full-time job. You can achieve this as well if you have discipline, motivation, and a bit of time for research!