The Realities of Making Money Online

How much can you really make?

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Let’s face it unless you’re a millionaire there’s probably a point in your life where you’ve sat and searched your mind for legal ways to make money. This is especially true for students, single parents, low-income earners, people drowning in debt and those who see pay day as a chance to live like a rock star for three days and a hobo for the rest of the month.

Now as a person who has fallen into one (perhaps two) of these categories I’m no stranger to finding out how you can make extra money online. Gone are the days when you could sit in front of the television on a Saturday night stuffing envelopes and if you believe those adverts that claim they will pay you £100-£200 per day for doing so I’d urge you to do the math. That's £52,000 per annum assuming you work five days a week, doesn’t seem quite so believable now does it?

All you have to do is search “make money from online” on Google and you will be presented with a list of the many ways you can make money online with multiple companies offering attractive sums to do such simple work. I am not ashamed to say I have tried quite a few of them and have some knowledge of others so without further ado here are my experiences.

Online Surveys

Of all the make money online jobs this one attracted me the most, mainly because it seemed so simple. Up to £20 per survey they said so I signed up with nothing to lose, or so I thought. I signed up to Top Survey Jobs who then gave me options to sign up to around seven or eight other paid survey companies, believing it was a numbers game I signed up to them all. Unfortunately, the majority didn’t offer any cash payouts but rather points or chances to be entered into a prize draw. The companies I had a preference for were Toluna and You Gov as they were quite simple to use and did have a cash payout option. However I quickly learned it would take me a very long time to earn the number of points required for a gift card or cash payout and what is often not considered in surveys is that you have to be the target audience that the survey host requires e.g working within a certain industry and in many cases I was not.

Network Marketing

Unless you live under a rock you will have been approached by someone or know somebody who is in network marketing. Perhaps you've even tried it yourself. People have very strong views on this varying from it being a pyramid scheme where the people at the top make all the money to it being the best way to becoming financially free. I have been part of two network marketing companies and had to pay to join both and made my money back on both. Now the first one I joined I did fall for the claims that it was easy (it was not), that I would make a residual income (I did not), and that it was a way I could leave my day job and spend more time doing what I really love (still working). About a year in I realised it wasn’t going to work but believed that was down to the company and not the industry so I decided to change companies where things pretty much went the same way. What little money you do make is often used to pay for events or training so that you can make more money which will then be used to pay for more events and training and thus the cycle continues.

Selling on eBay

Ah, now this is an easy one. Old shoes, clothes, electrical goods eBay's your place. Except when you realise that dress you paid £100 won’t sell for £5 plus postage and packaging not with the increase in online shops that offer brand new goods for the same price. Electricals do better and I have sold a few phones and old kindles on eBay. Larger items pose a problem when it comes to delivery thus you mark it collection only and dramatically decrease your buyer market, then there’s the fee’s they charge for selling the item and the ones PayPal take every time somebody pays. It all mounts up. You could always buy in bulk from somewhere like Alibaba and sell individual items (yep tried that too). I opted for jewellery and priced everything in line with competitors. I sold five pairs of earrings in the first days which I was very excited about but unfortunately, the remainder of necklaces and earrings are sitting in a box in my cupboard never to see the light of day again.

Selling on Schpock

A way to escape the eBay and Paypal seller fees. I have sold a few items on Schpock but I believe the success is dependant on what area you are in. For myself, I found people just were not prepared to pay much for items regardless of what they were and it was pretty much a case of wanting something for nothing. In addition to this the buyers were extremely unreliable.

Switching Bank Accounts

Now this one depends on your motives for wanting extra money. If all you need is some money so that you don’t starve for the rest of the month then yes this is an option. A lot of banks pay out relatively quickly and with the introduction of the Current Account Switch Service in the UK, this requires minimal effort. If you’re looking at a more consistent way of making money then this one may not be for you. We are in an age of information sharing and realistically speaking how often are you going to be able to switch accounts before they realise what you're doing.

Blogging

Who would do such a thing? Blogging is not something that anyone should go into thinking it will make them quick money. It’s something that has to be done consistently over time with no guarantees that you will make a penny. I would only suggest you do this for the love of writing.

Tutoring

I do not personally tutor anyone, however, I have seen some success with this particularly when children have exams coming up or may be falling behind. In an age of technology, this can be done over Skype and although it’s not going to make you filthy rich it may bring in that extra money you need for the week. It will involve you having to have knowledge of how things are taught in schools nowadays as believe it or not that have changed since you left. Credentials help too and most parents are only likely to hire a tutor who works in or has worked in a school.

So there you have it, my reviews on making money online with varying levels of success.

If you liked what you read be sure to check out my other blogs.

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The Realities of Making Money Online