Key takeaways
- From playing games to transcribing audio, there are multiple ways to <a t charge anything at all up to a certain threshold. If you don’t anticipate selling a lot, the last option might be your best bet. Bonus tip: Make sure to factor in shipping costs if you’re not giving the goods in person.
- Become a tutor
Get paid to share your knowledge through online tutoring. Whether your talents are in K-to-12 education or college-level and beyond, companies have virtual tutoring gigs available—and on your schedule.
How easy it is to earn cash: Difficult; you’ll need to meet education, experience, and competency requirements by subject. You might even need to interview, get a background check, or supply college transcripts. Then you’ll need to set times with your clients to chat.
How much you could earn: Varies by site and your specialty but generally ranges from $18 to $35 per hour.5
Hot tip: Application and approval processes for new tutors could take a while. Check out online reviews from other tutors to help you identify platforms most worthy of your time.
- Take on transcription work
Even though there are apps that can turn audio files of people talking into typed-out text, they aren’t as accurate as human transcribers. The result: plenty of transcription gigs to go around. If you wouldn’t mind listening to legal proceedings, interviews, and other kinds of discussions—and then typing what was said into an easy-to-read format—transcription work could be for you.
How easy it is to earn cash: Moderate; you might need to take a test and/or send in a sample of your transcription work to prove you’re an accurate transcriber.
How much you could earn: One popular transcription site says their users’ average earnings are $245 a month.6
Hot tip: Many transcription clients pay by the project, not the hour, so you could squeeze in more work (and potentially get more money) by being a fast typist.
- Provide voiceovers
Like the sound of your own voice? If you suspect others might too, you could get paid to read scripts that get used in ads, instructional videos, audiobooks, and more. You’ll need to make a demo—or better, a few different samples—and then post your work to sites people search when they need voiceover talent.
How easy it is to earn cash: Difficult. There’s a lot of competition, and it could take some practice until you get good enough to get noticed. Plus, some sites charge premium memberships to bubble your demo to the top when clients search. It could be tougher to be discovered without paying for the boost.
How much you could earn: It’s a wide range, depending on the client and your skills and experience. Expect $5 to as much as hundreds for a single, quick gig.7
Hot tip: You don’t need to record samples in a studio. You could get great sound with a high-quality microphone in a small space at home, such as a closet.
- Be an online translator
Calling all multilingual folks. Your fluency could be a side gig or a full-time online job. Translation agencies and talent marketplaces are just some of the many places you can seek work to make your language skills pay.
How easy it is to earn cash: Difficult; you’ll need to prove fluency and translation competency.
How much you could earn: Varies by language, marketplace, and available gigs.
Hot tip: Translation gigs can include typing out text, live consultations, or a recorded translation—you’ll need to find the sites that match your interests and skills.
- Track your earnings. Whether it’s a simple spreadsheet or an online bookkeeping program, keep tabs on your payouts. This includes cash and other awards such as gift cards. You might need to check in with clients or the site you’re working through when you haven’t received an expected payment.
- Consider a separate checking account. To better track cash payouts, you might want to set up a checking account dedicated to your online earnings. Your monthly statement could reveal income per site over time and drive you to focus your efforts on more-profitable outlets.
- Stay on top of your taxes. Even if your online income is only a fraction of your total monthly earnings, you’re responsible for reporting what you’ve made. The IRS typically requires self-employed people (which is you if you’re making money online) to pay estimated quarterly taxes if you expect to owe at least $1,000 in tax for the current year. The sites that pay you, aka third-party payment networks, are business retirement plan such as a SEP IRA or a self-employed 401(k). You could contribute to these accounts in addition to your personal IRA or employer-sponsored retirement plan, such as a 401(k), as another way to save for retirement.
- Consider professional liability insurance. You might want an extra layer of protection in the unlikely event that something goes wrong with an assignment or client. A professional liability policy—also known as errors and omissions insurance—could help shield your personal assets from a client or company seeking damages.
Handy tips for making money online
Now that you know how to make money online—and in a wide variety of ways—it’s time for a few reminders. These tips could help you potentially grow your income and keep your finances in order.
