We are living in strange times. On one hand, the cost of grocery, rent and transport is rapidly increasing, and large corporations are being accused of price gouging. On the other hand, more and more money making opportunities are making their way into the mainstream, while people are stuck in their 9 to 5 jobs, and see no real progress in the future.
Trying to make sense of these crazy times is like solving a puzzle. Let the historians of the future handle that. What I’d like to focus on here is to explore the many ways to make money while sitting at home – a privilege that people in the past did not have, but we do. Many people are curious to know how to make money at home, and for obvious reasons.
I guess that’s the best we could do about our times – understand how to make money at home, so people can maximize their earnings without toiling hard like the previous generations did.
Income Types and work-from-home
So, how to make money at home? Before I begin, I’d like to clarify something. Making money from home is often thought of as passive income. While there’s a strong overlap between the two, it is not necessarily passive income.
Let me explain.
There are two types of income – active and passive. Active income requires strong involvement, while passive income requires very little to no involvement. Just because someone is making money from home, doesn’t mean they are making passive income. A CEO or a CFO might choose to work from home, yet supervise the entire workflow meticulously. That is active income, not passive income
Hence, do not mistakenly associate either of the income types with whether the work is being done from home or from a corporate office. And secondly, keep in mind people who work from home can be more serious about their work than office workers.
Making Money from Home
The most common ways to make money from home are below:
- Remote work.
- Freelancing and gigs.
- Creative fields.
I will discuss them for those who want to know how to make money at home. Think of them like earning umbrellas constituted by diverse types of jobs requiring separate skills, but having one thing in common – they don’t require being completed from an office.
Remote Work and Freelancing
Remote work is done by people working from home. The rising cost of commercial real-estate has forced some companies to opt for this in the post-covid world. Remote workers can even be from overseas. Employers look for such workers because outsourcing work to them saves them money. Examples of remote work include coding jobs, web and software testing jobs, design and content creation jobs, general and customized data entry jobs and more.
Cloud computing has facilitated a lot in the development of remote work. Thanks to cloud computing, two people from different parts of the world can not only connect, but also share screens and work simultaneously, or make changes into works done so far.
Working remotely is growing on the back of new technologies. Some developed nations are now sending live security surveillance jobs to workers from developing nations, whose currencies are pegged quite low to the USD. We can safely assume that the emergence of digital technologies will soon replace working from offices with remote working.
Freelancing and Gig Economy
Freelancing epitomizes the Work-From-Home culture. Freelancing platforms like Upwork and Fiverr connect skilled individuals with diverse projects, from web design to writing, marketing to data analysis. No longer anchored to physical desks, skilled professionals can choose their hours, clients, and even their office view.
Gig economy sits somewhere in the middle. It’s a cross between full-time office work, and freelancing. Gig workers often work for fixed clients, and don’t market their skills to other potential clients. But they are not bound to any office rules as they work as freelancers. What’s common between these two new models of employment is that employees can work from their home. Also, employers can save money on infrastructural costs.
The gig economy is here to stay, and expand. These days, freelancers and self-employed people can even have insurance. According to a survey, almost 40% of companies in the US hired gig workers in 2023. Maybe someday, gig economy will replace the conventional economy, and working from home will become the norm, not an aberration.
Working in Creative Fields
People who are in the creative fields can maximize their income and their visibility by working from home. In fact, working from home can be more conducive for their career. Creative fields include performing arts, craft making, painting, drawing, illustration, photography, sculpting, fashion designing, concept art, and many more.
Thanks to online platforms like Etsy, Amazon and Shopify, artists can sell their artworks to thousands of people, and make money. They can also work as tutors to help other people learn the basics, and the intricacies of these fields. There are several digital platforms for skill development, and those platforms offer them unique opportunities.
If you started out reading this article with the question in mind “how to make money at home,” by now, I think you have gotten your answer. The Internet has brought about opportunities that were unbelievable even a decade or two ago. If you are also interested in making money at home, follow the tips shared here.