After 15 years of working, it was scary for me to give up my financial independence and choose to be a stay-at-home mom. But I knew that my daughter needed me – and she was my first priority. It has been 3 years now and I am happy to say that I still make enough from home – much more easily that I had ever imagined to be possible.
I found that it was almost impossible for me to stick to a part-time job with fixed hours – to be managed along with household chores. This was the reason why I was wary of making commitments in advance and taking tuitions or accept typing, transliteration jobs, book translation or transcription jobs.
Here are the best 3 options to earn online that I like:
Short Term Trading Online
If you don’t have much time to invest, online trading (for short term) can be your way to make some quick bucks. However, you should be good at spotting short-term opportunities too – otherwise it can be a risky path to follow. Here are some tips to profit from stock trading:
Watching evening news or reading financial pages is not enough. Keep an eye on Moving Averages of stocks (average price of a stock over a specific period of time). The best point to buy the stock for short-term is when it has its moving average has been sloping for some time but is just flattening out or has just beginning to decline.
If there is one thing to learn from bursting of Dotcom Bubble and Market Crashes, it is to recognize what phase of the market cycle is going and when it can end. The best time to buy stocks is just after the market has bottomed out. After prices stabilize, the market starts inching up and ultimately peaks. This is the time you might want to sell your stocks. Then, the prices start sliding down again.
Even though most Indian parents discourage their kids from trading and compare it to betting, it is not really so. Thousands of people make money in this way by taking informed decisions. You can do it too. Investopedia.com is a great website to learn about trading basics. If you want to invest in the field for short-term, read about Technical Analysis.
Answering Questions at Transtutors
Becoming an Online Tutor on this website is not like taking tuitions online. It allows me to access a job dashboard whenever I have time. I can pick and choose questions I want to answer, accept the job and start answering it right away. I usually target to answer 2-4 questions a day but there is no limit to number of questions you can answer in one day.
There are three ways in which I make money through this website:
- Cash Money for answering questions,
- Royalty Income (This is better than earning the beloved cash because high-quality answers keep earning you passive income for your entire life), and
- Amazing Monthly Reward Schemes
To register on the website, I took a test to prove that I am qualified enough to be a subject expert (which was quite easy!), and I was done. They did not ask me to upload any documents or did not have any screening interviews either. So, if you want, you can take tests of more than one subject.
I know people (especially college students) who have multiple IDs on the website. They pose as students and ask questions – and then, answer their own questions as tutors. Though, they are making good money off the website, I find this unethical and don’t recommend it.
Writing Articles for SEO Experts or Various Websites or Selling Whatever Skills We Have
I have experience as a content writer. So, I could easily get references from my professional network and write paid articles for website owners, SEO experts and digital marketers. It is better than starting my own blog or website because starting one’s own blog requires time, patience – and above all, skills that go beyond writing – which are called search engine optimization, online promotion, and digital marketing. When you write for others, you are sure of getting paid at whatever rates you bargained for.
One of my close friends has taken up coding projects and is doing quite well for herself. Another one does website designing. Yet another one had been an SEO expert. Sometimes, all four of us pick up a project together to provide complete solution to a client.
Assess your skills and network with other professionals. It can increase your chance of getting more work and earning more.