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How to Make Money on the Side During Lockdown

Being a parent in Lockdown is pretty tough, especially when only one of us works. Well that was until I was given my notice. What’s more, some scientists now predicting that the UK will be the country hardest hit by the coronavirus pandemic, with the region having already recorded more than 84,000 cases and in excess of 10,000 deaths.

The economical impact will be huge let alone personal, so I’ve put together this list of ways in which I’ll be looking to maintain an income, however, there remains ample opportunity for people to make additional money while trying to find work from home.

  1. Online Course and Tutoring

If you have a specialist or marketable skill that’s in-demand, being at home may provide you with the ideal opportunity to teach this to others online.

You could do this in a number of ways; from creating online courses to which interested parties can subscribe to tutoring people on a one-to-one basis using communication tools such as Skype or Microsoft Teams.

This will not only earn you some much-needed income, but it can also help others and empower them to boost their own earning potential at this difficult time.

  1. Try Trading

Something I’ve not previously done myself but I know a few that have and one of them lives in the rich part of Spain. No joke. Obviously it’s a gamble in these volatile times (as it always is) but it could be something If you’re still able to work from home and retain access to some disposable income on a monthly basis.

More specifically, you could consider trying financial market trading, as you look to leverage volatile conditions and profit from consistently fluctuating price points.

To fully achieve this, you’ll need to target derivative asset classes such as currency, which can be traded through an online forex broker and allow you to speculate on price movements rather than assuming ownership of the underlying financial instrument.

This lets you profit even as the market depreciates, and we’d recommend using a demo account to hone your skills before beginning to trade with real money.

  1. Ecommerce Sales and Drop-shipping

By 2021, it’s estimated that 93% of UK Internet users will shop regularly online, whole ecommerce already accounts for than 17% of retail sales nationwide. 

With this in mind, ecommerce may represent a viable earning opportunity in the current climate, particularly with people trapped at home and compelled to shop even more prolifically online.

To achieve this, you can either sell targeted products directly to consumers online through platforms such as eBay or Amazon, or act as a third-party between the manufacturer and the customer at the storefront.

This is called drop-shipping, and it can be advantageous in that you won’t need to invest in any stock before selling it on.

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