According to a 2019 study commissioned by MasterCard, the global gig economy generates an estimated $204 billion in gross volume each and every year.
A report from Intuit in 2020 also revealed that some 30% of the US workforce is currently contingent, while this percentage is likely to increase markedly in the future.
Of course, people often access the gig economy to open additional income streams and make money from home, with technological advancement having made this easier than ever before.
But what are the best ways of making money from the comfort of your own home? Here are some ideas to keep in mind!
#1. Trade the Financial Markets
Historically, even derivative and speculative financial markets such as the foreign exchange were largely inaccessible to part-time traders or anyone who operated outside of a major trading institution.
The digital age has changed this, however, by making all financial markets accessible through online brokerage sites that enable users to execute well-informed trades in real time.
You can also trade the markets freely through a desktop or mobile device, which is ideal if you intend to engage in scalping to day trading strategies that require you to maintain a large number of smaller positions open for relatively short periods of time.
Online brokerage sites also offer you access to live news desks and so-called “demo” trading accounts. The former ensures that you can access the latest news and market analysis, helping to inform every single one of your trades.
The latter affords you access to a simulated, real-time marketplace for up to six months, allowing you to experiment and hone your trading strategies without having to risk your hard-earned cash.
#2. Become a Croupier at a Live Casino
Live and mobile gambling verticals are increasingly popular within the global iGaming space, creating new and exciting opportunities to make money from your home.
Of course, you could choose to wager your hard-earned cash on live casino games of skill, such as blackjack, or try your hand at a preferred iteration of video poker.
According to Time2play, however, the rise of live casino and dealer games enables you to experience the glamour and excitement of corporeal gambling without leaving your home, so why not leverage this by becoming a croupier and earning a guaranteed wage from your casino platform of choice?
Both on and offline, the croupier remains a hub of activity in any table game, creating a need for technically competent individuals who understand the rules of specific verticals in detail and are capable of delivering high-quality customer service to players.
Continued, on-the-job training will also be required when working at a live online casino, while there may also be some additional training needed to manage games in real-time via video link.
#3. Engage in Drop Shipping
If you’re familiar with e-commerce sites like Amazon, you may have previously sold unwanted or discarded items to help raise additional income.
You can extend this by practicing drop shipping, however, which is a more advanced form of online selling that enables you to raise more cash without having to incur significant costs.
But what is dropshipping? Well, it’s a simplistic and accessible business model that doesn’t require you to keep products or items in stock. Instead, you can purchase in-demand items from suppliers at wholesale prices before selling these directly to customers through your site.
The goods are then shipped directly to your customers, while you’re able to realize the difference between wholesale and retail item prices at a profit.
Of course, you’ll have to invest time and be organized to make this endeavor work, but it’s something that can be managed online and completely from the comfort of your own home.
#4. Market Your Skills as a Freelancer
If you hold down a regular, 9-to-5 job and spend much of your time at the office, it can be much harder to create and maintain additional streams of income.
However, depending on the hard skills and experience you possess, you may be able to market these as a freelancer and earn additional income through project-based work.
For example, let’s say that you’re a copywriter or graphic designer and are able to work from your home office around the contracted hours of your primary job.
In this case, you can use online resources to network, identify clients and promote your portfolio of work in a bid to secure contract work and boost your bank balance.
Of course, earning additional income in this way will require excellent organization and time management skills, and you’ll also have to showcase discipline and a strong work ethic if you’re to succeed over time.
