Are you looking to earn some extra cash or maybe even contemplating a career change? There are many ways to make money online in Canada, and while some will only help you get a little extra pocket money, others have the potential to be quite lucrative.
In this guide, we’ll show you how to make money online in Canada and what you need to do to get started.
1. Fill out surveys
Online surveys are often the first port of call for Canadians looking for ways to earn money online. There are a host of sites and apps in Canada where you can earn cash or points by completing online surveys and questionnaires—popular options include Swagbucks, Survey Junkie, Opinion Outpost, Ipsos iSay and Branded Surveys.
The best part is that it’s easy to get started and earn straight away. If the site pays cash, you can withdraw funds to your bank account once you’ve earned a specified minimum. If the site pays in points, they’re usually redeemable for gift cards and other rewards.
How much it pays: Typically $0.50–$5 per survey
How much time it takes: Flexible. Most surveys range from a couple of minutes to half an hour.
Skills or experience needed: None.
What you’ll need to get started: A smartphone or computer.
Beginner friendly: Yes.
Completely online: Yes.
Be realistic. Don’t look at filling out surveys as a way to earn lots of money—it’s an easy way to earn a little extra income, but it’s not going to make you a millionaire.
Check the fine print. Check the minimum limit you must reach before you can cash out or redeem your points. It might take much longer than expected to end up with any cash or gift cards in your hands.
Make sure it’s legit. Do your research to make sure you only ever sign up to legitimate websites and apps. Scammers use fake survey sites as a way to trick you into handing over your personal information.
2. Sell your possessions
If you’ve got some unused items lying around the house that you no longer need, make some extra cash by selling them on an online marketplace. Sporting equipment, jewelry, games consoles, furniture, board games, books—the list of stuff you can sell online is just about endless.
Facebook Marketplace, Kijiji, eBay and Craigslist are just some of your options, and it’s easy to post listings via mobile apps or online.
How much it pays: Varies depending on what you’re selling.
How much time it takes: It takes about 10 minutes to photograph your item and write a listing. How long it takes to find a buyer and negotiate a price varies.
Skills or experience needed: None.
What you’ll need to get started: Items to sell, a smartphone or computer.
Beginner friendly: Yes.
Completely online: Yes—if the buyer pays electronically and you mail them the item. However, many sales will require you to meet with the buyer in person so they can physically inspect the item before purchasing.
Post professional ads. Take the time to write detailed listings and take high-quality photos for your ads. This will help your items stand out on crowded marketplaces.
Price your item high. Decide how much you’d be willing to accept for your item, then price it a little higher than that. You can usually expect a bit of negotiating when selling stuff online.
Be honest. If the item has any damage or imperfections, mention them in the listing and display them in photographs. If a buyer shows up and the item isn’t as described, you’ll be wasting your own time as well as theirs.
3. Sell your car
That’s right—you don’t have to visit a dealership in person and worry about haggling with a sleazy salesman to sell your car. These days, online dealers like Clutch and Canada Drives make it easy to sell vehicles online. All you have to do is provide your vehicle details online to get an offer to buy your car, and if you’re happy with the price, you can drive it to a nearby drop-off location to complete the sale.
Alternatively, you can list your car for sale on classifieds sites like AutoTrader, Kijiji and Facebook Marketplace. Selling privately may help you get a better price for your car, but it’s less convenient and you’ll need to deal with lowballers.
How much it pays: Varies depending on the vehicle.
How much time it takes: Less than 48 hours if selling to an online dealer. Time varies if selling privately.
Skills or experience needed: None.
What you’ll need to get started: A car, a smartphone or computer.
Beginner friendly: Yes.
Completely online: No. If you’re selling to a dealer, you’ll need to drop off your car or arrange a pickup from your home. If you’re selling to a private buyer, you’ll need to negotiate with buyers in person.
Compare offers. Online dealers make it easy to get an offer for your vehicle without leaving home, so compare offers from multiple dealers to get the highest price.
Stay on top of maintenance. Make sure all routine vehicle maintenance tasks (like oil changes) are up to date. Get any minor repairs done if needed, and get your car serviced at the manufacturer’s recommended intervals to help you get a better sales price.
Know your vehicle’s worth. Before selling your car, make sure you know what represents a fair price for your car. Sites like CARFAX and AutoTrader offer online valuation tools to help you decide how to price your vehicle.
If you’re a crafty person, you can put your skills to work to help you make money online. Sites like Etsy make it easy to sell handmade items like jewelry, home decor, personalized gifts and clothes online. Alternatively, you can try connecting with buyers on other platforms like Instagram and Facebook Marketplace.
How much it pays: Varies depending on what you’re selling and in what quantity.
How much time it takes: The time it takes to craft items depends on what you make. You can list an item in under 10 minutes, and then it’s a matter of waiting for a buyer to come along.
Skills or experience needed: Some sort of talent for creating handmade items.
What you’ll need to get started: Craft supplies/materials for whatever you make.
Beginner friendly: Yes.
Completely online: Yes (aside from the time you spend making each item).
Create detailed listings. Take high-quality photos of your items and create detailed listings with all the info a prospective buyer would need to know.
Be prompt. Respond quickly and helpfully whenever a customer contacts you with a question about an item you’re selling.
Understand fees. When pricing your items, make sure you will still make a profit after taking into account any platform fees that apply. For example, Etsy charges a listing fee, a transaction fee and a payment processing fee.
Our 'promoted' products are presented as a result of a commercial advertising arrangement or to highlight a particular feature. Promoted products are not a recommendation, an indication a product is the best in its category, nor represent all products in the market. It is important to compare your options and find the right product for you.
5. Sell custom items using print-on-demand websites
Print-on-demand websites like RedBubble, Printful and Printify allow you to get your own custom artwork on clothing, cushions, tote bags, mugs and more. You create your product designs and upload them to your own store or an online marketplace. When a buyer purchases one of your items, the print-on-demand service will then take care of printing and shipping it to them.
How much it pays: Varies.
How much time it takes: Requires an ongoing commitment to running your business.
Skills or experience needed: Some sort of artistic flair or a creative design idea.
What you’ll need to get started: A smartphone or computer.
Beginner friendly: Yes.
Completely online: Yes.
Take care when setting prices. Unlike a more traditional business model, you won’t be buying items in bulk and then selling them. This means items are priced higher and there are tighter profit margins.
Test the quality. Before choosing a print-on-demand service to bring your designs to life, order a sample product so you can check the quality the provider offers and see how your finished product looks in the real world.
Pick a specific target audience. Finding a niche audience will help generate customer demand for your products. Have a clear idea of who you’re designing for before you get started.
6. Dropshipping
Selling print-on-demand items is a form of dropshipping. With this approach, you set up an online store to sell your products—you could sell clothing, pet supplies, home decor, baby products or just about anything—but you don’t hold any inventory or ship products. That side of the business is taken care of by the manufacturer, who ships items directly to buyers.
How much it pays: Sources vary, but most put the average dropshipping profit margin somewhere between 10% and 30%.
How much time it takes: It could take weeks or months to set up your online store, while the time taken to manage your store each week will vary.
Skills or experience needed: No specific skills required, but web design and SEO experience will help.
What you’ll need to get started: You’ll need a computer and you’ll have to source a supplier.
Beginner friendly: Yes.
Completely online: Yes.
Choose your supplier carefully. Thoroughly research any supplier before deciding if it’s a good fit for your online store. Check out product quality by ordering samples, compare shipping times and check the responsiveness of their customer support.
Marketing matters. You can’t just set up an online store and expect customers to stumble across it organically. From SEO techniques to Google and Facebook ads, you’ll need to use a combination of tools to boost the visibility of your brand.
7. Affiliate marketing
Affiliate marketing involves promoting another company’s products or services in return for a commission. Essentially, you create your own website to direct customers to the company’s website or marketplace product listings, where they will hopefully make a purchase. You might be paid every time a customer clicks on the link to the provider’s website, or you may only be paid if they make a purchase.
How much it pays: According to Authority Hacker’s Affiliate Marketing Survey, the average affiliate marketer earns $8,038 per month—but the average monthly income for people with less than a year of experience is $636.
How much time it takes: It could take several months to start earning consistent income.
Skills or experience needed: Copywriting, web design and SEO skills can all improve your chance of success.
What you’ll need to get started: A computer.
Beginner friendly: Yes.
Completely online: Yes.
Be selective. While diversifying the range of products and services you promote can help boost your income, you should only ever promote products that you actually recommend. This will help build trust with your audience.
Learn SEO. Search engine optimization is crucial to help your affiliate website stand out in a very crowded market. Learn the ins and outs of SEO to help your site rank higher in Google search results and attract more eyeballs.
8. Make YouTube videos
Got a special skill or insight that others might be interested in learning or hearing about? You might be surprised by what people are willing to watch on YouTube. You could film yourself tackling competitive eating challenges like BeardMeatsFood, playing Minecraft like Unspeakable, share fitness tips, show people how to do common DIY jobs around the house or just about anything else you can imagine.
If your videos get enough views, you can earn money from advertising revenue, sell merch to your subscribers and monetize your channel in a handful of other ways. Learn more about starting a YouTube channel.
How much time it takes: It varies depending on the length of each video, your production quality, how many cameras you use and how often you upload.
Skills or experience needed: No specific qualifications are required, but skills in fields like narrating and presenting, video production and editing can all increase your chance of success.
What you’ll need to get started: An idea for a channel and a smartphone or video camera.
Beginner friendly: Yes.
Completely online: It can be—it all depends what your videos are about.
Be realistic. The eye-watering amounts earned by some world-famous YouTubers might have you licking your lips, but finding success as a content creator is far from easy. It seems like every young kid wants to be a YouTuber these days, so you’re entering into an extremely crowded market where it’s very difficult to stand out.
Post regularly. Consistency is key, so create a content schedule and release your videos on the same day and at the same time each week. This way, your audience will know when they can expect to see new videos from you.
Create great thumbnails. Make your videos stand out from the competition by creating eye-catching thumbnails that encourage more views. Check out the creative designs that some of the world’s most popular YouTubers use for inspiration.
9. Become a social media influencer
If your social media game is strong, why not use your skills to earn income as an “influencer”? Influencer marketing is where you build a large following among a niche audience, which could be anything from beauty and self-care to improving your golf game, until brands want to pay you to promote their products. From Instagram and TikTok to YouTube, Twitch and a host of other platforms, there are many different ways to engage with your audience.
How much it pays: According to Shopify, influencers with less than 10,000 followers can earn $10 to $100 per sponsored Instagram post.
How much time it takes: You’ll need an ongoing commitment to build a large audience.
Skills or experience needed: No specific qualifications are needed, but you’ll need to be a great communicator and have specialist knowledge or passion about a particular topic.
What you’ll need to get started: A smartphone and computer. A high-quality camera, tripod and lighting equipment can also help you create much more professional-looking content.
Beginner friendly: Yes.
Completely online: Yes—but you’ll need to spend plenty of time in the real world creating videos and other content.
Get ready for the long haul. You won’t have any success as an influencer if you only post occasionally. Building a loyal audience of followers requires a long-term commitment, so you’ll need to post fun, informative and interesting content daily.
Be authentic. Build trust with your audience by being your authentic self. Let your sense of humour shine through, and only promote products that you trust or recommend—your followers can spot a fake a mile away.
10. Work as a freelancer
Want to work from home and be your own boss? Sites like Upwork, Fiverr and Freelancer let you make money online in Canada by helping you connect with people and companies who need professional services.
You can freelance full-time or as a side hustle to earn some extra cash. There’s work out there for writers, graphic designers, translators, voiceover artists, web designers, programmers, SEO specialists, bookkeepers and a range of other professionals, so search for work opportunities based on your skill set.
How much it pays: You could get paid a fixed price per job or get an hourly rate. Price varies depending on the type of work you offer and the size and complexity of the project.
How much time it takes: Varies
Skills or experience needed: Varies depending on your line of work, but professional qualifications and experience relevant to your industry can help you stand out in a crowded marketplace.
What you’ll need to get started: A computer.
Beginner friendly: Sort of. It’s easy to sign up to freelancer platforms and offer your services, but many jobs require prior experience or qualifications.
Completely online: Yes — but you’ll need to spend plenty of time in the real world creating videos and other content.
Read job ads carefully. Don’t just skim the details of a job ad that sounds okay and then fire off a quick application. As a way of weeding out unsuitable applicants and bots, many job ads will request specific wording or information in your application to immediately tell whether you’ve read the job ad thoroughly.
Diversify. It’s never a good idea to rely too heavily on one client. If a company goes through a tough period, the freelance budget might be one of the first things to get cut—so you can protect yourself by earning income from multiple clients. This can take some juggling and may mean you have to sometimes turn down work, but it’s worth it.
Be disciplined. Freelancing offers freedom and flexibility, but it’s easy to get caught up in the perks of working from home. Setting yourself goals and targets, like working a certain number of hours each day, can help you stay on track.
11. Work as a virtual assistant
In the same vein as becoming a freelancer, working remotely as a virtual assistant allows you to make money online in Canada. It’s free to offer your services on sites like Upwork, and you can get paid to help clients with jobs like office admin, social media management, responding to emails, scheduling appointments and much more.
How much it pays: According to Indeed, the average base salary for a virtual assistant in Canada is $21.25 per hour.
How much time it takes: It depends on the needs of your clients, but it can be full-time (40 hours a week or more).
Skills or experience needed: Communication and time management skills are crucial. Prior experience isn’t essential but will help you stand out from the competition.
What you’ll need to get started: A smartphone, a computer and various software programs (Slack, Zoom, Microsoft Office, Microsoft Teams, etc.).
Beginner friendly: No—you’ll need a certain set of skills and proficiency in a range of programs to get started.
Completely online: Yes, although answering and making phone calls may be one of your jobs.
Network. Experienced VAs commonly point to the benefits of networking and building relationships with other VAs. This will give you people to turn to for advice as you continue to develop your skills, and it could also lead to work getting referred your way.
Define your role. When you’re starting out, it’s important that you clearly define for clients what roles you can perform. And if you’re asked to do something that’s not part of your job description, don’t be afraid to say no.
12. Start a podcast
Sports, true crime, children’s stories, money management tips, parenting, you name it—browse Spotify or Apple Podcasts and you’ll find podcasts covering just about every topic under the sun. So, if you have a special passion in life or specialist knowledge you’d like to share, why not start your own podcast?
How much it pays: Varies depending on the size of your audience.
How much time it takes: Varies depending on the research required and how often you record new episodes. Individual episode lengths commonly vary, lasting anywhere from five minutes to one hour.
Skills or experience needed: No specific qualifications required, but you’ll need to be a confident and engaging speaker.
What you’ll need to get started: Microphone and recording software.
Beginner friendly: Yes.
Completely online: Yes.
Listen to your recordings. Could your tone of voice be more engaging? Could your intros be catchier? Is the back-and-forth between you and your podcast guests a little too stilted? Listen back to your podcast after each episode to find ways of improving your product.
Upload episodes regularly. You’re not going to become anyone’s favorite podcast if you don’t post new episodes regularly, so create a content calendar and stick to it.
Plan each episode. Create a schedule for each episode and plan out all your talking points in detail. While you don’t want your content to sound overly scripted, having a plan in front of you will help you stay on track and cover all the key points.
13. Rent out your home
Airbnb is one of those sites that needs no introduction, providing a way to make money online in Canada by renting out a space to guests looking for somewhere to stay. It’s free to list your space on Airbnb, allowing you to earn extra cash using an asset you already own.
Alternatively, you could rent out your home (or a part of your home) for use as a private event space or for film and photo shoots using sites like Tagvenue, Giggster and Peerspace.
How much it pays: Varies—check listing prices for similar homes in your city.
How much time it takes: Answering enquiries, managing the property and cleaning tasks can be more time consuming than some people realize.
Skills or experience needed: None.
What you’ll need to get started: A spare room or space to rent out.
Beginner friendly: Yes.
Completely online: No. You’ll need to clean and maintain the property and help guests check in and out.
Create a great listing. Take high-quality photos of your space and provide detailed information in your property listing about the features it offers. This makes it much easier for people to work out if your home is a good fit.
Keep it clean. Hiring professional cleaners increases your overheads, but it can also save you a lot of time and ensure that your property is always in excellent condition.
Create templates. Communicating with guests and potential guests can take up a lot of your time. Putting together templates for things like welcome emails, check-in instructions and common queries can help you save time in the long run.
14. Rent out your parking space
In major cities like Toronto and Vancouver, parking is at a premium. So, if you live in a popular area close to the city centre and you have a parking space you don’t use, you can earn a little extra income by renting it out on sites like clicknpark, Parkify and SpotHero. It’s quick and easy to do, requiring minimal time or effort on your part.
How much it pays: Approximately $100–$500 per month, depending on where you live.
How much time it takes: You can list your spot in a matter of minutes.
Skills or experience needed: None.
What you’ll need to get started: A vacant car space that you are legally allowed to rent out.
Beginner friendly: Yes.
Completely online: Yes.
Check local rates. Do some research to find out how much drivers are paying for parking spots in your area. This will help you decide how to price your spot.
Get approval. Check with your landlord or your strata corporation to make sure you’re allowed to rent out your space.
15. Become an online tutor
Maybe you’re a mathematics or English teacher looking for some extra income? Perhaps you’re an experienced guitarist who wants to go down the teaching route? Whatever the case may be, you can make money online by offering your services as a tutor. Whether on sites like Upwork and Fiverr or on specific tutoring platforms, offering your expert services provides a flexible way to earn extra income.
How much it pays: Your hourly rate varies depending on the subject. Check platforms for average rates for online tutors in your area of expertise.
How much time it takes: Flexible. Each tutoring session is typically 30 minutes to an hour, but how many students you take on is up to you.
Skills or experience needed: Knowledge of a specific subject and good communication skills.
What you’ll need to get started: A computer, a microphone or headset.
Beginner friendly: No, you need specialist knowledge to become a tutor.
Completely online: Yes.
Increase availability. It will be difficult to grow your online tutoring business if you’re only available for an hour or two every second day. Make yourself available as often as possible when starting out to help build your client base.
Develop your skills. No matter how good a teacher you are, there are always ways to improve your skills. Whether that means working on your communication skills, learning different teaching techniques or even staying abreast of the latest developments in your field, professional development can help make you a more sought-after online tutor.
16. Become a dog walker or pet sitter
Turn your love of animals into a way to earn extra income by becoming a part-time or full-time dog walker. Sites and apps like Pawshake and Rover make it easy for you to advertise your walking services to dog owners in your area. You can also offer your services as a pet sitter, either in the pet owner’s home or by hosting pets in your own home.
How much it pays: According to Indeed, the average salary for a dog walker in Canada is $20.63 per hour, while the average salary for a pet sitter is $17.79 per hour.
How much time it takes: Dog walks start at 20-30 minutes. Pet sitting could be anything from regular daily visits to overnight or even multiple-day stays.
Skills or experience needed: None required, but qualifications like completing a pet first aid course will help you get work.
What you’ll need to get started: You’ll need to feel comfortable handling dogs and/or other pets.
Beginner friendly: Yes.
Completely online: No.
Keep owners updated. Many pet owners absolutely adore their fur-babies, so keep them updated with photos and emails of their pet enjoying a walk or overnight stay. They will appreciate you going the extra mile to let them know what their pet is up to.
Upskill. Completing a pet first aid or dog training course can help reassure prospective customers that their pet will be in safe hands.
Get to know your four-legged clients. Ask pet owners for details about their pet’s temperament, their likes and dislikes, and any other little quirks that will help you provide them with top-quality care.
17. Shop on cash back websites
Cash back apps and websites like Rakuten, Swagbucks and Great Canadian Rebates offer a simple way to get more money in your bank account. By doing your regular shopping through these platforms at partner retailers, you can earn a certain percentage cash back on all your purchases.
How much it pays: The cash back rate is commonly between 1% and 10% but can be more in some cases.
How much time it takes: The same time it takes you to shop for whatever products you’re buying.
Skills or experience needed: None.
What you’ll need to get started: A smartphone or computer.
Beginner friendly: Yes.
Completely online: Yes.
Only purchase what you need. Don’t get sucked into the temptation to make unnecessary purchases just to earn extra cash back. Only use cash back apps and websites to do the regular shopping you always do.
Keep an eye out for special offers. Check your email and log in to your account regularly for details of any special offers that will allow you to earn extra cash back.
18. Sell domain names
The concept behind “flipping” domain names is to buy a domain name at a low price and sell it for a much higher price. The trick is, of course, to be able to recognize domains that will be highly sought-after and that you could potentially sell for a profit.
How much it pays: It depends on the domain name. Some sell for a few bucks, while others can sell for thousands of dollars. There are also many famous examples of domain names selling for millions.
How much time it takes: Minimal time investment required.
Skills or experience needed: No specific qualifications are required other than the ability to identify domain names that might one day be in high demand.
What you’ll need to get started: A computer or smartphone.
Beginner friendly: Yes.
Completely online: Yes.
Watch out for domain sniping. Domain snipers will wait for your domain name registration to expire and then register it in their own name, with the aim of selling it back to you (or another buyer) at a higher price. The easiest way to avoid this is to prevent the domain name from expiring.
Think local. One strategy worth considering is targeting local domain names that include specific cities or regions. These can have the potential to be sold for a decent profit, but you may not face the same high level of competition from other buyers.
19. Enter competitions
Have you ever heard of “compers”? These serial competition participants devote a whole lot of time to entering competitions online, and some of them have a surprising amount of success. It’s free to do and can take up as much or as little time as you want.
How much it pays: Prizes vary.
How much time it takes: It only takes a couple of minutes to enter a single competition, but how many you enter is up to you.
Skills or experience needed: No specific qualifications are needed, but the ability to craft creative entries is a very useful skill.
What you’ll need to get started: A smartphone or computer.
Beginner friendly: Yes.
Completely online: Yes.
Set up a dedicated email address. Entering competitions means providing your email address to a whole lot of different companies. To avoid your personal email account getting spammed with dozens of marketing emails a day, it’s well worth setting up a special account for all your comping efforts.
Do your research. There’s plenty of information online from experienced compers about how to improve your chance of winning. The Lucky Learners Facebook group is a great place to start.
20. Work as a remote customer service rep
Put your people skills into action by working as a remote customer service rep. You might be surprised by the number of companies that offer jobs for personable people who can answer calls and manage online chats—all from home. You might also be able to increase your chance of getting work if you’re bilingual.
Companies advertise jobs directly on sites like Indeed. Or, you could look for work on freelancer sites like Upwork or specialist platforms like We Work Remotely.
How much it pays: According to Glassdoor, the estimated average salary for a remote customer service representative in Canada is $39,139 per year.
How much time it takes: Can be full-time.
Skills or experience needed: Prior customer service experience will improve your chance of getting work.
What you’ll need to get started: A computer, smartphone and headset. You may also require specific customer service software.
Beginner friendly: Yes.
Completely online: Online and over the phone. Some roles also require you to liaise with customers via video chat.
Check your internet. A reliable internet connection is a must for any remote customer service rep. So, if your connection is patchy or a little on the slow side, you might want to consider switching providers.
Be willing to learn. Prior knowledge of the company you’re applying to and its products will help you stand out from other candidates. But it’s not always a prerequisite, so you’ll need to be willing to do some research and learn what the company offers as part of your training.
21. Sell your photos
If you’re a keen photographer and you’d like to potentially consider photography as an alternative career, you might be able to make money online by selling your images to stock photo services. Sites like Dreamstime, iStock, 500px, Shutterstock and Alamy are just some of the popular stock image platforms where you might like to try your luck.
How much it pays: Varies depending on the platform.
How much time it takes: Photography and editing can take several hours, but it’s impossible to predict how long it takes for your images to get noticed and downloaded (if at all).
Skills or experience needed: Photography or filmmaking skills.
What you’ll need to get started: A camera and editing software.
Beginner friendly: No.
Completely online: No, you’ll need to spend a lot of time capturing high-quality images and videos.
Know your rights. Take your time to read the terms and conditions carefully before uploading your photos to any stock image platform. This will help you understand how your images may be used and whether you retain copyright on your images.
Use social media. Use Instagram, Facebook and other platforms to generate a following for your work. This will help build an audience and increase your chance of making sales.
22. Invest
Last but not least, it’s also possible to make money online by investing. The rise of online stock brokers and trading apps means that it’s easier than ever before to trade stocks and ETFs on Canadian and US markets as well as exchanges around the world. Compare online stock brokers to find the best investing platform for your needs.
How much it pays: It depends on a wide range of factors. There’s also the potential to lose money.
How much time it takes: It depends on whether you’re an active trader or a passive investor. If you’re a passive investor and you’ve signed up for a brokerage account, it’s possible to buy a stock or ETF in a matter of minutes.
Skills or experience needed: No specific experience is required, but a knowledge of how stock markets and investing works will help.
What you’ll need to get started: A computer or smartphone and spare money to invest.
Beginner friendly: Yes.
Completely online: Yes.
Set your investment goals. It’s important to have a clear idea of your appetite for risk and what you want to achieve by investing. Do you want to adopt a high-risk, high-reward strategy or opt for a long-term “buy and hold” approach?
Diversify. Diversifying your investment portfolio is a common strategy designed to help reduce risk and protect you against market volatility. One simple way you might like to diversify is to consider investing in an ETF that tracks the performance of a benchmark index, such as the S&P 500.
What are the best ways to make money online?
There’s no single, one-size-fits-all best way to make money online. The best option for you depends on the skills and tools at your disposal.
For example, renting out a spare room on Airbnb can be a reasonably simple way to supplement your income. Or, if you have the skills needed to work as a freelancer, whether as a copywriter, a web designer or anything else, you could turn your online money-making adventure into a full-time gig.
But if you don’t have anything to sell or rent, and if you don’t have any special skills or expertise, perhaps the easiest way to make money online is to complete online surveys. While it won’t make you rich, anyone can do it and there are multiple platforms available where you can earn a little extra cash.
Frequently asked questions
The easiest ways to make money online in Canada vary depending on your situation. If you've got unused possessions cluttering up your home, selling them on Facebook Marketplace is a simple way to make cash. If you've got a spare room, you could make money online by renting it out as an Airbnb. And if you have professional skills or knowledge, you could work as a freelancer or perhaps an online tutor.
But even if you have no special skills or possessions, you can still earn extra income online by filling out surveys. It takes time and you won't earn a huge amount of money, but it's an easy way to get a little more cash in your pocket.
There are multiple ways to make money online without having to invest any money. One simple way is to get paid to provide your opinion in online surveys, while another is to sell unused possessions for cash. You could also consider renting out a spare room, working as a freelancer or even starting a podcast.
It all depends on our personal situation. If you want to sell your car or other possessions online, you may very well be able to make money quickly. If you have specific skills like translating or copywriting, you could also start a new career as a freelancer. But if you're just looking for a simple way to make some extra cash, you might want to get started by completing online surveys.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
Here’s how to turn your wordsmith skills into cash, either in your spare time or as a career.
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