01. Investment in funds and shares
Investing in the stock market can give you a nice extra income. You can invest passively in equity funds or actively pick shares yourself.
Invest in mutual funds
In the stock market, it is easiest for most people to invest in equity funds.
All you have to do then is decide which funds you want to invest in, then the rest goes by itself.
This becomes a form of passive income that gives you little and little extra overtime.
To earn large sums by investing in funds, you either need a good amount of money from before or to save regularly.
The stock market has historically provided good returns and even small amounts invested each month can grow large over time.
By investing in, for example, a global index fund, you get the development of the global stock market and low costs.
Invest in individual stocks
Investing in – or trading individual stocks offers more risk than funds, but can also increase the potential upside.
As a student, I earned a few thousand bucks extra each month by investing in individual stocks.
I had some savings – maybe 5,000$ that I went in and out of various shares with.
Whether it was luck or all the research I did around the stocks that made me successful, I’m not sure.
Probably a good mix.
Anyway, it was a good, profitable experience and I learned a lot in the process.
02. Start a Youtube channel
On Youtube, anyone who wants to become a presenter in their own show can. If you create good enough content, this can also be very profitable!
There are several Regional Youtubers who live on income from Youtube full time, both with Regional and English videos.
The potential is of course greatest if you reach an English-speaking audience.
I have an acquaintance who in some months earns over 1,000$ a month from Youtube.
The revenue comes from the ads that appear on Youtube via Adsense.
He is not a celebrity you want to recognize on the street but makes entertaining videos in English within a specific sport.
The opportunities to make extra money on Youtube areas you see present if you are comfortable being in front of the camera!
03. Renting Out apartments
By Renting Out flats, I think of buying a shabby apartment (or house), refurbishing it and selling at a profit.
This is a popular way to make money on real estate.
There are always refurbishment objects on the market and many of them can be refurbished and sold at a good profit.
The carrot here is that by living in the apartment for one year, the entire gain is tax-free.
There are many examples of people who, for example, renovate one apartment a year and get a good extra income from this.
Renting Out flats is best suited for you who is a craftsman or really handy.
Then you can do most of the work yourself and avoid the cost of hiring your own craftsmen to do the work for you.
To succeed, it is important to familiarize yourself well with the market to get an overview of what renovation objects are for, and what beautiful, newly renovated ones are for.
You should also have a good view of trends in colour, material use and styling.
A good friend of mine is originally an electrician but has switched to flipping flats full time because the income has become so good that it replaces (actually doubles) the salary he had before.
04. Start a blog to make extra money
There are actually many who make extra money every month from their own blog, myself included.
Most people who make money on blogs do not write about themselves as pink bloggers but have a blog/niche site with useful articles on specific topics.
It is not easy to make a lot of money from a blog, especially not in GCC (If you write in English, Arabic the audience is much larger).
But to get a relatively stable extra income, blogging is a good option that has low start-up costs.
The best thing about blogging is that you can earn passive income over time.
This means that you can write, for example, 50 articles in a few months, but get income from these articles every month for several years to come.
It’s a bit like publishing a book that continues to sell copies for many years to come.
The way it works is that you write good articles that appear in Google searches or get traffic from social media.
When you manage to get readers, you can monetize automatic banner ads (Adsense), ad links, e-book sales and online courses.
If you are considering starting your own blog, I recommend reading the step-by-step guide to creating a profitable blog at Deltidsblogger.no.
There you will find a good explanation of everything you need to know about starting your own blog:
Everything from planning your blog to installing WordPress, writing articles and making money on your blog.
Buying a domain name and creating your own WordPress blog is something anyone can do.
It costs little money to get started and with a provider like One, WordPress (which you need) is installed with a few keystrokes.
The challenge is to produce enough quality content so that both the search engines and your readers will read your content.
05. Create and sell online courses
Is there something you are good at that you can teach to others?
Maybe something in your professional life you have become an expert on? Or can you play an instrument? Are you good at a particular language?
It’s easier than ever to create your own online course, reach out to many people and make money from it.
Although it can be a lot of work to create a good course, this is something that can provide a good passive income for you well into the future.
You can publish your course on a platform like Udemy (a kind of Netflix for online courses) and get about a few customers automatically, or sell it on your own website and do the marketing yourself.
At Udemy, for example, I have seen this course which teaches basic Regional to English speakers.
With over a thousand participants at a price of 25$, I think that the effort of the person who made the course was well worth it.
06. Start an online store
There are many examples of online stores that have started small as a side project at home and that have grown from there.
I myself have worked in an online store and have seen that it is entirely possible to create an income in this way.
There are two main ways to run an online store:
You can run an online store the old-fashioned way with goods in your own warehouse / at home, or have a drop-ship online store. The goods are sent directly from the manufacturer to your customers.
There is a lot of work with online shopping and you have to take care of everything from customer service to product research, sales and marketing.
But if you succeed with an online store, it can quickly become a profitable extra income with opportunities for further growth.
There are many online store platforms, but the easiest and cheapest way to get started is Shopify, which has become very popular.
07. Create websites for businesses
Nowadays, almost ALL companies need a good website.
There is a good willingness to pay for professional websites that look good and that convert those who visit them into customers.
By learning to create WordPress websites, for example, it can quickly become a good extra income if you sell some websites.
This is not rocket research, but still, the willingness to pay is high because most companies do not have the expertise to create websites themselves.
A very basic WordPress website usually costs between 100$ -1,500$.
If there is to be extra functionality and more content on the website, there are many companies that pay up to 1,500$ and more for WordPress websites.
If you want to try to create a WordPress website on your own, I recommend reading this guide:
(The guide is basically about creating a WordPress blog, but it’s exactly the same procedure for regular websites)
The reason it costs money is that it takes a few hours to create the web pages. Web agencies that sell websites tend to charge a thousand bucks or more per hour they work.
If you are willing to work the hours required for a good price, the opportunities are good to get some websites sold and get a good extra income.
Maybe you know someone in your family or circle of friends who has a business and should have a new website?
Say you want to try to make a website for them at a good price.
Another option could be to create some sample pages for companies you come up with yourself. When you feel comfortable, you can call around and send emails to companies, show the examples you have created and request assignments.
08. Manage social media for businesses
Digital marketing is in the wind like never before, and companies have to keep in touch with their customers on social media.
Here, there is a need for everything from posting content such as photos, videos and competitions on social channels, to more advanced advertising.
Many companies do not have the time and knowledge needed to succeed in this on their own and are looking for people who can do a good job for them.
If you have an eye for what looks good on social media, have good communication skills and are willing to learn the various advertising platforms, the opportunities for a nice extra income are present!
Sell services as a freelancer
We have already visited some typical freelance services such as social media marketing and website development.
But of course, it does not stop there. You can sell many different services like freelance! For example, services within.
- Video editing and production
- Music production
- Graphic design / logo design / design of brochures
- IT and app development/coding
- Writing and translation
If you want to reach a foreign target group, you can take a closer look at Fiverr, but expect that the price level there is much lower since you are competing with people in low-cost countries.
09. Rent the car
Renting your car on a car-sharing service like Nabobil can be a great way to earn extra income.
Rent your own car when you do not need it, or buy an extra car that you can rent next door.
I know of several who have earned a solid extra income from renting vans that are affordable to buy, but which many are willing to rent for a good price when they need the good space.
A van for 4,000$ can quickly earn money if it becomes popular in the area where you live.
Check out the competition, see how often cars are rented in your area and try it out!
10. Buy and sell domains
Buying and selling domain names has long been a big business. Some do this full time, but most do it as an extra side income.
The demand for good domain names is high, and many domains cost more than 100$ – 3,500$.
There are examples of domains that have gone for millions and abroad there have been quite extreme cases.
The most expensive domain ever was Voice which was sold for Springville $ 30 million in 2019.
If you want to try your hand at buying domain names, I can recommend One as a supplier as I have good experience with these.
11. Buy and sell things Online
It can be good money to make on buying and selling things on Finn and other similar places.
Here you can, for example, buy old things, refurbish them and sell them at a profit.
There are several who have created an extra income by, for example, buying broken white goods, fixing them up and reselling them.
You can also familiarize yourself well enough with the market for specific products so that you can spot when a product below market price appears that you can resell at a higher price.
You can do this with, for example, watches, bicycles, game consoles, telephones, headphones and things with collective value such as football cards and pokemon cards.
Feel free to also look at products abroad, such as eBay where you can buy and sell in a much larger market.
12. Rent things you already have
Did you know that you can rent things like camera equipment, ski box, trailer, tools and party speakers?
On the website hygglo.no you can post ads for things you already have, but do not always use.
Here the opportunities are good to be able to earn extra income.
Maybe you can specialize in a niche and become the king of renting camera equipment in your area, for example?
Crowdlending is about lending your own money to businesses and making money on the interest rates they pay.
When companies need money, typically to develop or complete a property, they can apply for loans through platforms such as Kameo and Monio (advertisement).
Here you and I can lend our own money and get monthly payments in the form of the interest companies to pay on the loan.
You choose who you want to borrow money from and everything goes smoothly in a tidy environment where the crowdlending company has quality assured the borrowers.
The interest rates you earn vary between 5 and 15% depending on the loan terms and risk class of the loan.
Crowdlending thus gives you about the same return as investing in mutual funds – something that is much better than what you get in the bank.
Investing in loans like this has quickly become popular.
Kameo arranged loans for more than NOK 1 billion in 2021 and Monio (which is owned by Sparebank 1) has arranged loans for more than NOK 600 million since its inception.
Since crowdlending is popular, loans are often replenished by avid investors.
If you want to try, you should pay close attention when new loans are launched (you will be notified by e-mail) and register with both services.
Also Read:- Best Online Part Time Jobs from Home
15. Invest in Cryptocurrency
If you are comfortable with risk and are interested in new technology, investing in cryptocurrency can be an exciting way to generate extra income.
You have certainly noticed that many people have made a lot of money investing in cryptocurrency.
Whether it’s a long-term investment in Bitcoin, speculation in altcoins or NFTs, there are plenty of sunshine stories.
The fact is that Bitcoin has been the best investment of the decade with an increase of more than 9 million per cent since it was launched.
Although Bitcoin has already risen a lot in value, many believe that we are still early in terms of value in the crypto market.
In addition to Bitcoin, there are also many other cryptocurrencies with different uses, which can potentially be good investments.
In addition, there are several good ways to make money on cryptocurrency, so the opportunities for extra income are many.
“Remember to never invest more than you can afford to lose in cryptocurrency. The market is unregulated and the value of your currency can rise and fall a lot in a short time.”
Conclusion on creating extra income
As you can see, there are many ways to earn extra income from home. The easiest to get started with is of course investment.
Many of the tips mentioned can also be combined.
An online store can, for example, get customers from their own blog or efforts on social media and if you have a youtube channel or blog, you can sell online courses via these channels.
Here I have come up with my best tips, and I would love to try out more examples on the list even if I had the time.
As you can see, I have deliberately left out typical weekend jobs and advice such as airing dogs in the neighbourhood, but I still hope you found something interesting!
Feel free to leave a comment if you have tips or experience with any of the methods on the list.
Tax on additional income
Remember that you can earn a few thousand dollars tax-free a year.
According to the Tax Administration, the hobby is tax-free, while business is taxable.
The difference there may be somewhat unclear, but mainly you should set up a sole proprietorship if you see that you get a stable income that can be considered an industry.
If you get there, you can pat yourself on the shoulder and have a soda with a clear conscience!
Also Read:- Best Online Part-Time Jobs from Home