While the government’s furlough scheme has done a great deal to protect its five million members from the threat of unemployment during the coronavirus pandemic, it’s thought that hundreds and thousands of people could potentially lose their jobs once this initiative ends in September.
With this in mind, people may need to be proactive by seeking out new and flexible methods of generating income from home, at least for an interim period of time.
But what are the best ways to make money from home? Here are a few that you should keep in mind:
Get Paid to Write
As the workplace and various industries continue to transition online, some job roles are benefitting from markedly higher levels of demand.
Take copywriting, for example, which businesses often rely on to differentiate themselves from their competition in an increasingly competitive digital space.
If you’re looking to forge a potential path in this type of job role, you could start by providing paid articles through websites that accept such content.
Sites such as Listverse pay up to $100 per accepted article across an array of topics, for example, while Back2College is an excellent website that’s aimed at older students and will pay more than $55 per published post.
For those of you with a more significant appetite for risk and desire to generate more money, forex trading is a more viable venture.
This market sees the sale, acquisition and exchange of international currencies, which are traded in pairs and as derivative assets that enable investors to speculate rather than assuming ownership of the underlying financial instrument.
Thanks to the concept of leverage, you can also open and control forex positions that are up to 100x larger than the value of your deposit, creating the potential for increased returns.
What’s more, this practice is now more accessible than ever before, thanks to the emergence of online brokers sites and advanced trading platforms.
Dropshipping is a relatively new method of making money from home, with this describing an order fulfillment method that negates the need for businesses or clients to hold stock.
Instead, a retailer simply sells its products and passes the sales order to a third-party supplier, who then ships the order directly to the customer.
This is proving to be a popular and invaluable service in the modern age, and it creates an opportunity for knowledgeable individuals to profit from increased commercial demand.
Just remember that this isn’t a get-rich-quick scheme, and you’ll require understanding and some key strategies if you’re to succeed.
This article is for information and educational purposes only and does not form a recommendation to invest or otherwise. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.