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Entrepreneurs are not just the people who start businesses. Entrepreneurship is about making money independently using yourself as a guide, and millennials have definitely taken advantage of this. Here are the top 38 ways in which millennials are currently making it rich.
1. Taking Pictures of Receipts
Making money from your smartphone is one of the easiest ways that millennials are making extra money, and with receipt scanning apps it’s never been easier.
These apps pay you to take pictures of your receipts. Originally created to give you cashback on groceries, you can now earn cashback on other items too such as alcohol, electronics and more.
Let’s take a look at one of the most popular receipt scanning apps out there as an example: Ibotta.
- Register. You can register for Ibotta 100% free by clicking this link here. You even get a $10 sign-up bonus when you scan your first receipt
- Purchase.Make your purchase and keep your receipt. Select the offers on the app with the products that you purchased on the receipt. You’ll notice that with Ibotta, you can typically earn anywhere between $.25 and $5 in cash back. The great thing about this app is that you can earn multiple offers per receipt.
- Take a picture. Take a picture of your receipt through the app. Just be sure to place the receipt on a steady surface and take a picture of the entire receipt. If the image comes out blurry, you may not get credited.
- Cash out. Once you reach a minimum of $20 in your account you can cash out to PayPal or for gift cards of your choosing.
The reason that these apps are able to pay you is because they take your purchasing information and sell it to companies as market research. There’s no need to worry as all of this information is kept anonymous, so it can’t be traced back to you.
Here are a few other of my favorite receipt scanning apps:
- Trunow ($2 bonus with promo TOF19 and after scanning your first receipt)
- CoinOut (earn cash back for both in-store and online purchases)
- Fetch Rewards ($1.50 bonus with promo HH3MN)
2. Make Money With Amazon
Did you know that there are at least 8 different services that you can use to make money on Amazon? This includes designing t-shirts, selling physical products, writing an e-book, building and promoting apps, using Amazon mTurk, affiliate marketing and more. Amazon has been around for years as a strong and reputable company, so it wouldn’t be a bad idea to get in.
3. Complete Short Tasks Online
We recently put together a list of 50 sites that pay you to complete short tasks online. This includes activities such as watching videos, filling out surveys, completing free-trial offers, clicking on ads and other things. You can’t make a fortune, but you’d be surprised at the amount of sites that will pay you a decent wage.
Here are some of our favorite short task sites to get you started:
4. Matched Betting
Matched betting is your chance to take advantage of the bookmakers when it comes to sports. When done right you mathematically can’t lose. The only disadvantage is there’s only so far you can scale this type of business. Most people will never be able to make a full-time income from it, but it’s a great side income to support your other operations.
The concept of matched betting is simple. You sign up for an account with a betting site and a betting exchange. The goal is to qualify for the free offers. For example, you may have to bet $10 to earn a $10 free bet. Do this but bet against your chosen outcome on the betting exchange.
You’ll make a slight loss, but when you repeat this process with the free bet you’ll make a guaranteed return. This is in no way illegal, but you should be aware of the fact that betting sites will ban you if they discover what you’re doing. Try not to overdo it.
5. Filling Out Online Surveys
Companies are willing to pay you for your opinion. If you fall into their demographic they want to know what you think of their products, and the marketplace as a whole.
This type of work will never act as a full-time income, but it’s a great way of padding your income from the comfort of your sofa. Here are some great sites that can help you get started:
Most surveys take between 10 and 15 minutes to fill out. The more surveys you complete the more dollars you make. Different demographics will find it easier than others to be successful here.
Blogging remains a powerful way for millennial entrepreneurs to make money. The key to successful blogging is to have something to say in a small niche. Combine your writings with powerful images and engaging videos to increase the chances of your blog going viral.
It’s well-known that it’s an extremely saturated industry and that it can be a difficult niche to make any money from. You may have to spend months before you make a single cent. That’s why you should enter blogging if you enjoy it, rather than because you think you can make some quick money.
Interested in starting a blog? We’ve put together a list of 7 detailed steps toward starting a successful blog.
7. Affiliate Marketing
Affiliate marketing is closely related to the realm of blogging in which a successful blog will enable you to take advantage of affiliate marketing opportunities. Many believe that this is an industry that has died, and thats far from the case.
It’s still an industry that can yield a large amount of money. What entrepreneurs must keep in mind is that it’s no longer the ‘get rich quick’ option.
To succeed in affiliate marketing, you need to pair your ads with engaging content. You also need to only market products that your audience is going to love. This is tricky to get right, but once you do it has the capacity to be an extremely lucrative niche.
8. Designing Websites
Designing websites is a popular niche because many businesses are demand of one. There’s always going to be demand for a good designer. Platforms like Upwork provide an opportunity for new designers to get their first clients. It’s never been a more open industry.
This blog was built on WordPress and designed by myself. If you’re looking to get up to speed and start designing sites for clients right away, I recommend using the same platform.
Udemy offers some great courses that will teach you all of the ins and outs of WordPress. Not only that, but if you ever want to start up your own site, you won’t have to pay someone to do it.
9. Become a YouTuber
Video content has never been more popular than it is today and has grown in line with the mobile revolution. Video content disseminates points much faster than any other form of content. Some Youtubers net thousands of dollars every year just through their video ads.
There are so many areas of YouTube you can pursue. It could be gaming, comedy shows, or sports. People watch so many hours of video every single week that there’s a nearly unlimited demand for YouTubers.
One thing to keep in mind is that you will need some decent HD camera equipment and a room where the sound is perfect to get started. If you want to make it big, you’re going to have to have high-quality production.
10. Online Comedians
This entrepreneurial role ties into being a YouTuber, but this deserves a section of its own. Becoming an online comedian can take many forms. You could perform a basic stand up routine, or you could combine it with funny videos and props.
Make sure you test your skills with an unbiased audience to avoid embarrassment. You may want to attend a comedy club in your locality and try your hand during an open mic night. This will tell you whether you really have the skills to make a success of it or not.
11. Video Game Live Streaming
Live streaming is a new type of production that has branched off from YouTube. People watch the video, but they watch along live. You can interact with your viewers and they can dictate the direction of the video. One of the most lucrative live streaming niches is video game live streaming.
Playing video games for money is the dream of so many millennials. Now you can make that a reality. Like with any brand, it can take a while to build yourself up, but when you make it there’s no glass ceiling regarding how much money you can make. Twitch is one of the more popular platforms for this.
12. Making Handmade Products
Do you know how to make a bracelet or a customized wallet? Then the world of crafts could be for you. Sites like Etsy have enabled artists to open up their stores and target an audience interested in handmade products. It’s a great side business if you happen to enjoy making things in your spare time.
There’s no limit on what you can make. Many people create necklaces, handmade bracelets, and bags.
13. Freelance Writing
Written content continues to be of importance to brands in an era where video seems to reign supreme. If you have good grammar and a voice that people are likely to respond to, you could start a career as a freelance writer. What’s great about being a freelance writer is you can do this part-time or full-time. For those looking to get started, we’ve put together a list of 8 sites that will pay you to write.
14. Social Media Management
Social media management involves taking on the responsibilities of a business’s social media feeds. You’ll be expected to post regular updates and respond to followers as the voice of the company. This position has come about because many companies simply don’t have the time to manage it themselves.
Ideally you should have a personal presence on all the social media platforms you specialize in, meaning don’t limit yourself to just one platform such as Facebook.
15. Social Media Promotion
What’s the difference between social media management and social media promotion? Social media promotion has a goal relating to advancing the business’s social media presence. It might be to get more followers, improve engagement, or to increase the number of people clicking through to the website. This is less about basic management and more about growth.
16. Project Management
Freelance project managers are employed by businesses that need help in managing the various tools and personnel at their disposal. If you know how to manage projects, this can be the perfect freelance job for you. Your role will vary heavily based on the needs of the business, so you should be flexible to succeed in this field.
17. Trading on eBay
The selling platform eBay has been in the news lately due to their consistent increase in fees for sellers. That doesn’t mean there’s no profit to be made on this site. Selling and reselling can make you a full-time income, as long as you’re in the right niche.
Setting up a reputable store takes time and revolves around the level of service you can provide. Trading on eBay requires you to do your research and to ship items to sellers promptly. Make sure you take into account the fee structure before you commit to any deal.
18. Create WordPress Themes and Plugins
WordPress powers a large majority of websites on the web, and it’s what this website runs on. Brands need a unique WordPress look every single time if they’re going to stand out from the crowd. This is where WordPress theme and plugin makers come in.
Creating base templates for WordPress and popular paid plugins can win you hundreds of dollars over a period of time. Your success doesn’t rely exclusively on paid themes and plugins. Many designers will create themes and plugins for free to improve their branding.
Don’t know where to get started? As mentioned above, look on Udemy for cheap courses on how to build your very own WordPress site.
19. Multi-Level Marketing (MLM)
MLM is a controversial marketing tactic and is also referred to as pyramid selling. The idea of pyramid selling has been around for almost a hundred years. Unfortunately, it’s gained an unsavory reputation because of criminals using it to take advantage of people. At its heart there’s nothing actually wrong with it, as long as what you’re selling really works.
MLM should be approached with great care. Make sure that the program you involve yourself in is reputable and has a long history of success.
20. Write an eBook
Now has never been a better time for writing an eBook. Amazon has been paying out bigger and bigger sums to authors every month. Pairing your eBook with an established brand can elevate both the book and your brand, leading to even larger payouts.
How do you write a great eBook that sells? Identify a popular niche. The key is to drill down into a niche to find a sub-genre that’s popular right now. If you read the same type of books that you’re writing about, you’ll definitely find this much easier.
Whether you employ a ghostwriter or write it yourself, the key to success is to write for the market. Get a professional cover and a professional editor to polish your creation.
21. Create an Online Course
Do you have something you could teach to others? It could be anything from teaching people how to build a basic website or how to create popular eBooks. Online courses are all the rage, and the number of available categories are constantly expanding.
Creating an online course has the potential to establish your brand as an authority and help people at the same time. One of the most popular platforms for online courses is Udemy. Anyone who has something to teach can upload their very own course.
22. Flipping Domains
Domain flipping has been popular for a long time, and it’s only going to increase in popularity since a range of new domain types were released. Domain flipping involves taking a potentially popular domain, buying it at a low price, and selling it for a higher price.
For example, when the Internet first became popular it was common practice to buy common domain names with the idea of selling them later. For a time people used to do this with celebrity domains. Whatever route you want to go down, all you need is some startup capital and a knowledge of the demand for domains.
23. Creating Apps
There’s an app for everything these days. Sadly, the majority of apps never make a dime. This is due to the fact that app makers don’t research the market well enough and they don’t look into what people actually want. Creating apps is about meeting the needs of the market.
You also have to get past the barrier that restricts the majority of app makers. For example, most app makers create apps that get downloaded and never opened after the first time. This fate occurs with many apps. You need to get past that through meeting the needs of the market. Don’t know how to make apps? As we’ve said from time and time again, learn with Udemy.
24. Join the Peer-to-Peer Lending Community
Do you have some extra money that just seems to be sitting in a savings account? Interest rates are at an all-time low and inflation will gradually make your savings less valuable.
One of the ways millennial entrepreneurs are getting around this is through lending that money to others. The peer-to-peer lending community has never been more popular.
You lend your money to others using a secure platform like Zopa and the person pays it back over a period of time. There’s some risk of default involved, but most lending platforms take care to guard against this.
25. Online Coaching
There’s always someone looking to get better at what they do. If you have a special skill set you may want to consider getting into online coaching. Specialist knowledge can be offered to people, at a price. The way it works is that you may coach someone through email, through Skype, or even in-person.
You decide what means you’re willing to use to deliver online coaching services. Well-established coaches can command hundreds of dollars for just a few lessons. If you’re at a loss on what to teach, why not English? We’ve put together a list of 5 ESL apps that will pay you to teach English online.
26. Start Dropshipping
Dropshipping is simple concept. Each time you make a sale the supplier ships the item instead of yourself. You never actually come into contact with the product. There are no restrictions on which products can be dropshipped.
eBay is the most used platform for dropshipping, but you can do this on any online marketplace. If you want to become a successful dropshipper, it’s all about having the knowledge of which product sells best. The margins can be slim on common items, and suppliers from China and other such countries have the whole market practically cornered.
27. Become an SEO Consultant
Every business has to take into account promoting themselves through Google. SEO consultants are advisers that show businesses what they need to do to succeed in order to get ranked high in search engines. They’ll review their SEO strategies and make practical suggestions for what they can do.
As expected, this is a results-based industry. You need a solid track record of success. The better your results are, the more you can charge by the hour.
28. Buy and Sell Antiques Online
The antiques business has always been difficult to succeed in unless you live in a big city. There’s only a small audience for antiques, and without that local base it can take months and years to sell a single item. The rise of the Internet has made it possible to buy and sell antiques across the globe.
Millennial entrepreneurs with an interest in history have started to sell antiques they bought online. This is a specialized form of selling that requires you to have an in-depth knowledge of your chosen area. Selling something that turns out to be fake could be disastrous for your online store’s image.
29. Resume and Cover Letter Writer
The job market for young people has never been tougher. The only way to stand out and get the interview may be through a great cover letter or resume. Job seekers not proficient in writing either of them are increasingly turning to outsourcing to get the job done. You could be the person they outsource to.
30. Being a Virtual Assistant
Virtual assistants are in high demand. It’s wrongly believed that virtual assistants from countries like India and the Philippines have made this market impossible to get into for Western entrepreneurs, and this couldn’t be further from the truth. Many companies require a Westerner who understands the work culture and the market to complete certain tasks.
Virtual assistants have to be flexible and open because they could be asked to do practically anything. You could get a request to book a hotel for a business trip in Miami at short notice. You could also be told to research weddings in New York. The key characteristics of any virtual assistant are professionalism, diligence, and flexibility.
31. Start a Graphic Design Company
Millennial entrepreneurs with an eye for design may want to consider starting a graphic design company. This is one of the easiest businesses to setup because it’s so easy to promote your services on a range of work platforms such as Guru.
Other than the ability to design well, the only things you need are access to professional design programs such as Photoshop.
32. Become a Video Editor
Video content is the leading form of content in the world today, and Ccmpanies realize that they need to invest in it. Talented video editors can command huge sums simply because they can turn an ordinary video into a big screen production. Software like Sony Vegas is great software that can help you get started.
Millennial entrepreneurs who make money as video editors often teach themselves the nuances of video editing. Your portfolio will speak for itself, so don’t feel like you need proper schooling.
33. Personal Shopping
The role of the personal shopper used to be confined to an offline employee that customers paid a small fee for. Personal shopping has changed, though. It can now be conducted online. You have to give your expert advice on what goes together, mainly in relation to clothes.
The position of personal shopper has expanded in recent years. It can involve clothes, but it also includes furniture and home improvement. You need a strong knowledge of your niche before you get started with something like this.
34. Start an Online Franchise Business
An online franchise business works in exactly the same way as a conventional franchise business. You’re essentially taking an existing brand and paying to use it. You gain access to the brand’s catalogue of products and services. All you have to do is give a cut of the proceeds back to the brand involved.
Online franchises are becoming more prominent as entrepreneurs look to avoid the difficulties of building a brand from scratch. The power of a name can give your new business a shot in the arm and allow you to start making money in a matter of days.
35. Online Translation Services
The world is the same size it’s always been, but business is increasingly being done across borders. That’s where language barriers come in. Businesses of all kinds need online translation services if they’re going to deal internationally. If you know a second or third language, you can make a living translating.
The more obscure the language the better. Knowing Spanish opens you up to a big audience, but it’s also a highly competitive niche as there are so many Spanish speakers in the world. A language like Bulgarian may reduce your options, but you’ll also have less competition.
In this business, qualifications are the main things you need to get started. You have to prove your skills before businesses will employ you.
36. Sell Your Photography Online
Stock images are always required because businesses simply don’t have the time necessary to take their own photos. Dig into your archive of photos and upload them to platforms like Getty. Once they’re uploaded, all you need to do is wait until someone makes a purchase.
This is just one facet of the online photography business. It’s not uncommon to find entrepreneurs employed to take specific photographs because of what they uploaded online. Setup a professional website and begin promoting yourself to get started.
37. Voiceover Services
Audio voiceovers are required for both videos and audiobooks and can be used by practically any business in any niche. If you have the ability to change your voice or you have an accent that sounds crystal clear, offer your services as a voiceover artist.
You must make sure that you have professional-level sound and recording equipment. Businesses will only accept the best quality recordings. Furthermore, you need to make sure that you have a portfolio of voiceover work, preferably in a variety of different areas.
38. Playing the Stock Market
The stock market has always been a method to make money. Whether you prefer to shoot for long-term gains or get involved in day trading, the stock market provides determined entrepreneurs with a chance to make a lot of money in a short space of time.
If you’re looking for a way to earn cash from the stock market without any risk, you can use fake cash but earn a real profit with an online platform called Spark Profit. You won’t earn much, but it’s a way to get started without any risk.
If you’re not investing, you’re only losing money if you don’t earn interest on your cash due to the high rates of inflation. For those looking to get started, we recommend using the online brokerage firm Motif Investing since you get a $100 bonus when you deposit $1,000 and make your first trade.
There are plenty of ways to make money online for some extra income. While we don’t expect you to be able to do everything that’s on this list, hopefully you can take away at least a few items. If you see one that’s not on here and should be, let us know in the comments below. Thanks for reading and happy frugaling!