If you’re looking at some ways to earn some extra cash, thanks to technology, there are many legitimate ways to make money online today – especially if you want to make $200 a day!
In fact, we’ve compiled a few legit ways to easily make $200 a day. These methods range from simple side hustles to high-ticket consulting businesses.
Some of these ideas require no experience, while others might take months to launch. Either way, you might find something that works for you.
Building A Nest Egg
You need time, money, or skills to create a passive income. Well, let’s start with money.
You could open a high-interest saving account, and even as little as 1,000 dollars will make a passive income.
It may not be much, but you’ll earn interest every month on that money, and many banks even offer cash bonuses to open accounts. Our favorite right now is UFB Direct.
You can earn about 2% APY on your money as soon as you open an account, and while it’s nowhere near what some people are earning with their fancy day trading strategies, it’s still pretty good considering it starts with very little.
You don’t need millions to build wealth; all you really need is a few hundred dollars and an eye for a good deal.
Dropshipping
Dropshipping is a passive income idea that seems too good to be true.
But once you understand how it works, it becomes clear why it’s such a great way to make money online.
A drop shipper creates products that people want, then sells them directly to customers via his/her eCommerce site.
The customer buys directly from the supplier without ever having to go anywhere else. The drop shipper earns a commission every time someone purchases from him/her.
This makes dropshipping a very profitable form of affiliate marketing because commissions range from 30% – 90%.
And since most drop shippers start small, they can use a low budget to build up a steady stream of sales and eventually turn into full-time entrepreneurs.
Royalties
Royalties are best known in the music industry.
Musicians receive a sum of money from record companies for sales of their songs or albums, essentially creating one song or album one single time and getting paid over and over again forever.
This is how musicians produce income streams for themselves without constantly having to tour the country. This can be the same for authors.
For example, if you write an ebook and publish it on Amazon, you will receive between $0.01-$0.15 per download.
If your book is successful, you could easily make the equivalent of $200 a day doing this alone.
Affiliate Marketing
If you want to promote other people’s products and earn a commission from that rather than creating and selling your own, then affiliate marketing is worth looking into.
Most content creators will pay you about $30-$50 per sale you create for them, depending on the product. You don’t even have to sell anything yourself.
All you do is find a product that interests you and put together a review/recommendation post.
Then you submit it to sites like Amazon where they will publish it on their site and send the link to the merchant.
When someone buys the product via the link, you get paid a percentage of the sale price. This is called affiliate marketing.
There are many different ways to become an affiliate marketer, including:
- Blogging
- Video creation
- Social media
- Direct mail campaigns
Investing
The last passive income stream I want to talk about is investing.
I left this one for the end because investing takes initial capital and requires some work upfront, but it’s worth mentioning.
There are so many different types of investments out there, but most people usually fall into one of three categories: Real Estate, Precious Metals, and Cryptocurrency.
If you were to invest in real estate, there are several options. First, you could buy a single property or multiple properties. Second, you could build a rental portfolio over time.
Third, you could look at a turnkey investment where someone else owns the property and rents it to tenants.
Precious metal investments include gold, silver, platinum, palladium, and rhodium. These tend to be bought and sold privately rather than publicly traded on stock exchanges.
They can often be purchased via companies called bullion banks. Cryptocurrencies are digital assets designed to work as money.
Bitcoin is probably the best-known crypto-currency, although others exist. Some of those other coins are Litecoin, Ethereum, Ripple, Dash, Monero, ZCash, Dogecoin, and many others.
There are so many different ways you can invest. You can invest in the business itself, or you can invest in individual stocks inside the company.
Investing in a business involves riskier territory, but it does give you more control over how your money gets spent, and $200 a day is doable.
YouTube
YouTube is probably the best place to start making money online. If you don’t already have a YouTube account, go ahead and sign up for free. Once you have it set up, upload some videos.
But beware: There’s a lot of competition. To succeed, you’ll want to focus on creating great content rather than just getting views. The next step is to promote those videos.
You can do this manually, but plenty of tools out there automate the process. For example, YouTube has a tool called Content ID.
This allows you to identify copyrighted music being played in your video.
When someone uses copyright-protected material without permission, you receive a notification that they used it in your video.
You can choose whether or not to claim ownership of the song. If you do, YouTube will take a percentage of whatever money is made off of the ads running alongside that music.
Conclusion
Finding ways to make a passive income makes sense in today’s world.
With a bit of research and careful planning, you could bring in $200 a day without lifting a finger. Good luck!
As a current Mortgage Underwriter with 15 years of experience, I have seen my fair share of money-related issues. Whether that be high levels of debt, not enough credit, or simply a lack of funds - I’ve had clients who fit into these categories.
Here I will share tips, tricks, and experiences on how you can get yourself back in control of your finances.
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