We live in difficult financial times, where household incomes are being squeezed by stagnating real wage growth and an inflation that continues to push 3%. Until recently, a base interest rate of 0.25% was also keeping high street savings rates low, leaving citizens with less disposable income to save and little opportunity to optimise returns.
Even with a higher interest rate of 0.5%, increased mortgage repayments will leave many households out in the cold. In this respect, its far better to focus on maximising earnings in the digital age, as this is an achievable objective that enables you to save more towards your future.
How to make money on the Internet
Fortunately, the increasingly diverse and rapidly growing World Wide Web offers ample opportunity for people to earn money online. Here are some examples:
1.. Become a virtual assistant
We’ve all heard of the freelance economy, with in excess of 1.5 million Brits now working for themselves. The emergence of the Internet has played a pivotal role in this evolution, by creating a reliable platform for remote communication and document sharing.
This has also created a number of new job roles that can be performed online by independent contractors, particularly those with an entry-level skill-set. Take the role of virtual assistant, for example, where people are hired on a telecommuting basis to complete tasks such as organising electronic files, managing appointments and scheduling meetings.
This is also done online, and it’s an excellent way for you to supplement an existing income during your free time.
- Trade the financial markets
For those with a desire to earn a little more online, trading the financial markets offers a slightly more ambitious (if complex) option.
Thanks to the emergence of online trading platforms and mobile apps that are accessible in real-time, many of the barriers to entry that once surrounded the financial market have now been removed. This means that even novice investors can trade forex and similarly volatile assets online, while also having access to a range of comprehensive data-sets and analytical tools.
You can even hone your skills in a simulated, risk-free environment through a demo account as you learn, while many modern platforms also offer independent, third-party learning resources.
- Become a freelancer
If you want to work online but have a marketable skill that is likely to be in-demand among employers, you could consider selling this as a freelancer. This can also be done alongside a regular job, although it can be scaled into a lucrative, full-time career if you’re successful. where people are hired on a telecommuting basis to complete tasks such as organising electronic files, managing appointments and scheduling meetings.
While there is a growing range viable, online freelance careers, the majority are focused on creative job roles such as design and copywriting. So, if you have such skills and are able to network and market yourself online, you could create a lucrative revenue stream that significantly boosts earnings.