How to Earn Extra Income in 2020

We could all benefit from a little extra income from time to time. Whether you currently work a full-time job or are stay at home mum, it’s never been easier to earn a little extra cash on the side. 

The modern business landscape is rapidly changing. The internet, modern technology, and the huge advances in computer software has made it incredibly easy to take on remote freelance work in your spare time or even full time if you desired.

Remote work is increasingly becoming popular with those who care for their children but want to earn some money of their own. It’s a great choice for anyone with big savings goals or just anyone who wants a little more spending money to enjoy. 

How to Earn Extra Income in 2020

With so many opportunities for earning extra income online, it’s easy to get overwhelmed or confused about what are the best options and what you need to do to get started. In this article, we explore the most lucrative freelance positions that can help you to earn some extra income this year and how to get started.

1. Teaching English Online

The online education market is expected to reach a whopping $319bn by 2025. This has opened the door for huge opportunities for those wanting to earn some extra cash teaching English online.

Teaching English to young children and adults from countries like China is really fulfilling job and it’s really flexible too. Those in need of some extra income while working from home can get started with nothing more than a laptop, webcam, and a secure internet connection.

To get started, you will need a copy of your college degree and you will need to complete a 150 hour online TEFL course. The course can be bought for as little as $50 online and won’t actually require you to study for the full 150 hours to complete it. The course will teach you all the basic fundamentals of teaching English to a foreign student. 

Once you have completed the course you can apply to online schools such as Whales English, VIP Kidz or DadaABC. These companies will interview you, ask for a quick successful mock class and then within a few weeks, you can be teaching online. 

The average pay is around $15-30 an hour depending on your previous experience and performance in your mock class. Most lessons can be done at the weekend but you can teach weekday afternoons and evenings too.

2. Virtual Assistant

An increasing number of companies and startups are opting for virtual offices. This means they do not require a physical office address and instead, they can set up a virtual office address.

Many companies are in need of organized and hard-working virtual assistants to complete basic administration tasks such as scheduling, workflow management, data entry, and emailing.

The hours can be flexible so you can manage your freelance work around your current schedule at home. Beginner assistants can expect anything from $5-10 an hour but those with a previous assistant or office experience can expect anything up to $25 an hour depending on the company you work for.

Those looking to make a little side income can benefit from this flexible remote job that comes with very little responsibility.

3. Freelance Writer

Freelance writers are always in high demand whether it’s for individual bits of copy for web pages, online articles or press releases. You don’t need any experience to get started just a solid grasp of the English language and perfect grammar skills.

How to Earn Extra Income in 2020

Those interested can join up to websites like UpWork or Freelancer to start finding projects they think they could be helpful on. If you have any niche experience like beauty, fashion, sustainability, sports, parenting or health this can help you significantly in winning projects.

Once you have completed a few small writing projects and start receiving good reviews you can build your online portfolio to help win more projects from other clients. Freelance writing can be incredibly flexible and rewarding if you do a good job.

You can expect to start earning around $15-20 per 1000 words but this is then easily scaled up as you become more competent and your profile grows. Those that do well might even be able to start picking and choosing the types of topics they write about making it a creative and fun exercise that won’t even feel like work.

There is no limit to how much you can earn as a freelance writer. The more projects you complete and the more good reviews you receive, you can start to charge much higher rates.

4. Social Media Marketing

Do you spend a lot of your day scrolling through social media? Do you already have social media pages with hundreds or thousands of followers? You can now transform your social media addiction into a side job that pays you money.

Companies all over the world are looking for freelancers to manage their company social media pages. Not all companies can afford to hire expensive marketing agencies so they are looking for individuals who know their way around sites like Facebook and Instagram to help them boost their followers and increase brand awareness. 

This job will involve thinking of new content for the business to promote, taking photographs, creating posts, writing engaging copy and overlooking the analytics to make sure the pages are improving with new followers, likes and website traffic. 

This can be a truly creative role allowing you to sit on social media pages all day but earn money to do so. Pay can be anywhere from $10-$50 an hour depending on the company you are working for. If your successful, there is no limit on what you could earn in this role.

Managing a company’s social media won’t always be easy and requires you to continuously learn about new methods and tricks to create the best and most engaging content that keeps people liking the pages and going to the website.   

Thanks for stopping by today, I hope you’ve enjoyed this post.

rachel bustin
Thank you for sharing

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