“My top tip for making money online is arbitrage, taking advantage of price differences between two different markets, using a service like Fiverr. Essentially, you create a website offering a service like acquiring Twitter followers or Facebook likes for businesses or other interested parties. You then create simple Facebook ads marketing say, 1,000 followers for $100. Once you’ve acquired a couple customers, you go to Fiverr and pay $5 to $15 for the 1,000 followers for your new clients. You could take advantage of the price difference for any Fiverr offering including logos, designs, cartoon headshots, and more. It’s a very simple way to make money and a great introduction to entrepreneurship!”
Not only will this multiply the money you’re bringing in in a serious way, but it protects you against any sudden changes in the market or in your business. Remember that old saying about putting all your eggs in one basket? A few hours a week committed to just one or two of the following opportunities will put you in a much stronger position to be financially safe and independent.
Next, you’ll need the right tools. You can be as complicated or simple as you want depending on your comfort with audio equipment, but at the minimum you’ll want a microphone and software for recording your voice. Companies like Behringer, Blue, Focusrite, and others sell studio-quality plug-and-play podcast setups that can get you recording today.
Online savings accounts usually come with crazy good interest rates to help you grow your money faster (regular in-person banks can’t offer rates as high). We’re fans of CIT Bank and Discover Bank (among others) because their interest rates are often over 25 times the national average. That means the money in your savings account will grow 25 times faster than the pace it’s most likely growing at now. Really, though, you can’t go wrong with pretty much any online savings account that offers over 1.50% APY 🙂