Are you looking for ways to make extra income from home without investment? In this article we will show you how to start a virtual bookkeeping business, tips on becoming a proofreader without a degree, types of blogs that make money and how to start English as a second language (ESL) tutoring on your smart phone!
Disclosure: Bear in mind that some of the links in this post are affiliate links and if you go through them to make a purchase, I will earn a commission. Keep in mind that I link these companies and their products because of their quality and not because of the commission I receive from your purchases. The decision is yours, and whether or not you decide to buy something is completely up to you.
Here is a collection of the best ways that we know of to make money online from home without investing a lot (or any) money. Starting a business is hard and risking money to start one can be quite daunting.
So, here is out list of the best ways to earn money from home without investing a lot of money.
Let’s get started!
1. How to start a virtual bookkeeping business
Starting a virtual bookkeeping business is one of the most lucrative ways to make extra income from home without investment. Many people don’t know how to start a virtual bookkeeping business – a lot of people think that you need a degree or CPA qualification. The reality is that you don’t need any qualifications!
You just need the specific skills that are required to start a business and manage your clients books. Typically, the clients that most freelance bookkeepers work with are small businesses.
You can learn the skills that you need from a good course like Bookkeeper Business Launch (click here for free training). Most freelance bookkeepers make an average of $60 per hour!
Bookkeeping is one of the best paid ways to make extra income from home without investment. You do need to be the type of person that loves numbers and organization.
So, if you want to know how to start a virtual bookkeeping business, don’t miss the free training that can help you decide if the business is really for you.
We also wrote a full review of the Bookkeeper Business Launch course that you can read here.
2. Becoming a proofreader without a degree
Do you enjoy reading and spotting errors? Many people that are good at this are becoming a proofreader without a degree or any kind of qualifications. Some of our friends are proofreaders and one of them makes $100 per hour proofreading!
Proofreading appeals to people that have a keen eye for small details. If this sounds like you, check out this FREE MASTERCLASS by millionaire proofreader, Caitlin Pyle.
Caitlin gives you a good overview of freelance proofreading as a way to make money from home. She doesn’t sugar coat it and tries to be as transparent as possible. Proofreading does take some work, but it doesn’t cost much to get started.
Freelance proofreading can be quite varied when it comes to the type of jobs that you work on. Here are a few things that you could end up working on:
- Proofreading novels. Publishing houses will pay freelance proofreaders to do this. I imagine this could be really fun, especially if you end up working on your favorite niche!
- Blog posts. Bloggers sometimes pay a proofreader to make sure that their brand appears as polished as possible (note to self!).
- Essays, eBooks, poems and court transcripts.
These are just some of the ways that you can make money as a freelance proofreader. Becoming a proofreader without a degree is challenging, but the rewards are worth it!
3. ESL tutoring on your smartphone
Do you know what ESL tutoring on your smart phone is? ESL stands for English as a Second Language. You can get paid to teach Chinese kids how to speak English via video stream class.
Teaching English as a second language doesn’t require an English degree! Any bachelor’s degree and some amount of teaching or mentoring experience is all that is required for most ESL tutoring work.
You can join a site like VIPKID or EF Education First and they will connect you to students. You usually have to pass a basic test to be hired by these sites. For VIPKID this is a mock lesson that you present to your interviewer.
The pay for this type of work is usually around $20 – $25 per hour and you can choose your hours – as many or as few as you like.
There are many experienced VIPKID teachers that post about their experience on YouTube. They often give advice and dish out helpful tips and tricks for new teachers.
Unfortunately, you do have to be in the USA to teach on VIPKID because of the time difference in China. You also have to be fluent in English. You can do ESL tutoring on your smart phone or on your desktop computer as long as you have a good internet connection.
4. Blogging: What are the types of blogs that make money?
Blogging is a great way to make extra income from home without investment. It sounds too good to be true, doesn’t it? We set out a few years ago with the idea of just making an extra $50 a month with a blog. We were VERY skeptical that blogging would even help us make a penny.
Fast forward a few years and we are making a really good full-time income ($20,000 a month) with our blogs. We only work part-time and enjoy traveling the world as we blog.
You might wonder what are the types of blogs that make money? There isn’t one single type of blog that makes money. We know many different people that blog about everything from hardwood floors to personal finance. They all make a great income from blogging!
The secret is to blog about something that you are passionate about. You will need this passion to be able to write about it and your audience will pick up on it. Here are some of the topics that people blog about:
- Healthy Living and Fitness
- Personal Finance
- How to Travel on a Budget
- Home Decor
- Being a Mom
- Self Defense and Home Protection
- Working at Home
…and so many other types of blogs that make money are 100% possible!
You can make money by writing good content on your topic that really helps people. Monetizing the content is usually done in two ways:
1. On-page ads. Many companies will pay you to advertise on your blog by displaying ads on your pages. The pay is not great, but if you have a lot of visitors, then it does add up quickly. Many bloggers make thousands of dollars a month just from display ads.
2. Affiliate marketing. This is a very lucrative way to make money on a blog. You basically get paid by companies for reviewing products. If a person clicks through a special tracking link on your site and purchases something, you get a commission from the company.
Affiliate marketing sounds simple and it can be if you do it right. There are many ways to learn how to use affiliate marketing on your blog. We learned from a site called Wealthy Affiliate. They have a great community, endless training lessons and even offer a free blog for you to start with.
So, don’t worry about what are the types of blogs that make money. Any type of blog can make you money. Follow your passion, write useful content and learn how to monetize it.
5. Virtual Assistant
Have you ever considered becoming a virtual assistant? Did you know that you can make $20 – $100 per hour as a virtual assistant (depending on your skills and experience) ?
Anyone can start a virtual assistant business as long as they are organized and hard working.
Virtual assisting is a pretty easy way to make some extra money from home without investing a lot of money. You might be wondering what sort of work a virtual assistant actually does. Here are some of the things that my virtual assistant friends do on a daily basis:
- Managing social media
- Manage email accounts
- Keep on top of appointments and memo’s
- Report preparation or proofreading
- Writing eBooks, blog posts, social media etc.
- Outreach for collaborations
The list is endless. The work of a virtual assistant is never done, and it can vary a lot.
You can learn the basic skills for free that are useful to start as a virtual assistant. The easiest way to start making money as a virtual assistant is to do some freelance work for other business owners. We have found that Facebook is a great place to start, especially niche Facebook groups.
Many bloggers (including us!) regularly hire virtual assistants to help out with social media. Usually bloggers want help with Pinterest promotions or moderating a Facebook group. These are pretty simple skills to learn.
You can start on many different freelance platforms (Fiverr.com and Upwork.com etc.). You can also start a virtual assistant agency where you scale your business by having employees that work for you.
Here is a great video that I found that explains how you can go from zero to a fully-fledged virtual assistant in 30 days. You can also check out this post by a professional virtual assistant.
6. Drop Shipping
Drop shipping is one of the greatest business models in the world! Imagine not having any inventory to store and just being able to transfer customers to a wholesaler when they place an order. It works like this:
1. Customer places an order for a product through your website at a retail price.
2. You purchase the product directly from a wholesaler for a lower price and ship the product directly to the customer.
3. You keep the profit!
Drop shipping is one of the easiest ways to make extra income from home without investment. There is very little capital investment involved compared to starting a conventional store.
Think about all the stuff that is eliminated with a drop shipping business model:
- You don’t need a warehouse to store inventory
- Shipping and handling is taken care of by the wholesaler
- No hassle dealing with product returns
- No stock management and account required
When you combine these benefits with how easy it is to scale a drop shipping business and the location independence, you might just have the perfect business model.
One of our favorite courses that teaches a great drop shipping strategy can be found here (FREE webinar). In the webinar you will learn how Alex Becker is able to take brand new drop shipping stores from zero revenue to 6-figures in just 30 days!
Drop shipping is one of the most lucrative ways to earn extra income from home without investment. You can start with as little as $5!
7. Transcribing Video and Audio
You know the text that appears at the bottom of your screen when you watch movies? This is the work of a transcriber. You can learn how to become a transcriber and work from home.
Transcription is not the easiest way to earn extra income from home without investment. It can be quite grueling work. Many virtual assistants learn this skill to add to their resume.
I know a few bloggers that like to dictate and record blog posts and then pay a transcriber to write it all down in the post for them. Sometimes transcribers work remotely for court reporters, lawyers and many others.
If you would like to learn more about the best way to learn this skill, check out my review of Transcribe Anywhere (a course that teaches you everything that need to know to become a freelance transcriber).
8. Freelance Writing
Freelance writing is a really great way to make some extra money online from home. Usually freelance writers charge per word, anywhere from $0.1 to $2 depending on their experience and the type of job.
We know many freelance writers that are making a full-time living online. If you haven’t heard about Holly Johnson be sure to check out her story in this free webinar she created.
Holly earns over $200,000 a year with her freelance writing business! In her webinar and course, Holly gives you all the information you will need to start freelance writing, know what to charge and how to find customers. We wrote a full review of her Earn More Writing course if you want to check it out.
You can also check out this article about making money typing online if you are interested in other writing opportunities.
9. Survey Junkie
Survey Junkie is a way to make a little extra money from home without investing anything. It does not have the same large income potential that the other gigs on this list have. However, it can be a fun way to make a little extra money while waiting for a bus or in the grocery store line. You get paid for completing surveys, browsing the internet and even for playing games.
Some people claim that they can make $400+ extra a month with Survey Junkie. We have made $10 here and there, but we have never dedicated ourselves to the site.
10. Vindale Research
Vindale Research is another paid survey site that is similar to Survey Junkie. They pay out via PayPal (as does Survey Junkie) and they are a legitimate way to make a few extra dollars quickly.
We hope that we have given you a few ideas about ways that you can make extra income from home without investment. Many of these freelance business ideas don’t REQUIRE any investment, but it will help to speed your business along if you can buy a course or invest a little bit of money in the business.
So now that you know how to start a virtual bookkeeping business, become a proofreader without a degree, start ESL tutoring from your smart phone and the different types of blogs that make money – will you take that leap into the exciting world of online entrepreneurship?
Let us know how you get on in the comments below!
Russell and Maleah