In light of the current and ongoing concerns around the Covid-19 also know as coronavirus. A lot of countries are struggling to control or reduce the spread and the ‘WHO’ has recently declared this situation a world pandemic. If you have been watching the news recently you should be well aware of what has been happening in Italy, Spain and many other nations, Lock-downs are being implemented and the police and military are being deployed to ensure everyone stays in their homes to reduce the spread of this disease.
These lockdowns have also brought about multiple layoffs “left right centre” even some of the industries that you would least expect to lay off their employees. As you are reading this article, there is 60 percent chance that you are one of the victims of losing your job due to the coronavirus pandemic. Anyway, not all hope is lost! There are ways to still make an income during these tough times and some people will even emerge ‘RICH’ out of this crisis.
We are going to discuss 4 ways in which you can make a living during the lock-down and majority of the methods would not require huge investments and others you can start absolutely free.
Online Trading (1)
Online trading can be confronting if you have never done it before, however, with so much training courses and free videos on YouTube. Anyone can fast-track their learning of trading. The 4 most popular trading techniques are scalping, day trading, swing trading and position trading. The video below provides a snapshot of trading.
- Day trading – this is a practise of buying and selling within same trading day. The trader makes sure that all his/her positions are closed before the close of trading hours.
- Position trading – This is when a trader buys and hold the security for days or for months. This strategy requires more advance traders to be effective.
- Swing trading – the trader usually predicts a trend using fundamentals or technical analysis techniques and place a trade to capitalise on the change in the direction of the trend. Usually positions are held longer than a day.
- Scalping trading – this is a very active form of trading where the trader seeks to exploit the price differences or gaps and these types of trades can be executed withing minutes. Some traders use trading apps or bots to capitalise on these gaps and the trading bot can execute these trades in a split of a second.
Choosing the method of trading will depend on the style that you feel comfortable with. Note that trading can be very risky, and you may lose all your initial capital in some cases. So, trade wisely or seek professional help.
Freelancing has been growing in popularity in recent years and if you have not head about this, means you have been living under a rock (no offense). Anyway, this is basically a form of self-employment where you are not committed to any employer or project. There are several website platforms that host a lot of freelancers where organisations and individuals go to outsource freelancer services. The popular platforms include but not limited to Freelancer.com, Fiverr, Upwork and many more.
I personally have been using Fiverr for more than 10 years now, I find this platform very easy to use. They even provide you with simple to follow training to get you started in this freelancing world. Because people differ in their preferences and tastes, you may find that you prefer another platform, so its worth giving yourself time to learn a few of them until you find your match.
As a freelancer, you can offer any services, anything that you think you have better skills than the next person e.g. translations services, voice over services, the list is endless.
Affiliate Marketing (3)
Affiliate marketing is a very interesting concept, where you get paid a commission for referring others to buy products from a merchant. For example, Amazon will give you a unique link that you can send to your friends or promote on Facebook and if anyone who visit Amazon website through your unique link you will get paid 3%+ commission by Amazon.
There are several affiliate networks which you can join for free and start promoting offers to get commissions. Some full-time affiliate marketers are making six figure income just through promoting other people’s products. Affiliate marketing is very easy; however, it takes a lot of time to learn the useful methods. There is a lot of information online and some of the information is now obsolete and the methods no longer work. For up to date information I personally use AffLift (has both free and paid membership… the choice is yours 😉)
During this pandemic, the most popular products to promote are gaming products, online casinos, online surveys and online business opportunities
Common affiliate networks:
- &many others.
Creating Digital Info Products (4)
Creating a digital product: Information products can be a lucrative business model given that you only invest once if you know what you are doing. I have read a lot of articles online with people giving testimonies of full time income from selling short eBooks and some were even outsourcing the whole process (which means, getting someone with better writing skills to write you a book) and you can then publish the eBook on amazon.
There is an old training course I came across years ago and this time it may be more relevant than ever if you would like to dive into creating these digital eBooks and start earning from them. This will ensure you learn the tricks of the trade faster and the right way.
Please note that there is no guarantee that you will be making any dime when you follow whatever I am saying in this article. Use the information here as your foundation to do your own thorough research, mainly because there are a lot of crooks out there who can promise you amazing results just for you to part with your hard-earned money. During the lock-down, you have to be wise with how you spend your money because you never know when the lock-down may end.
The lockdown is not a death sentence, there is light at the end of the lockdown and the most important thing is to stay safe!!
If you are going through a financial problem and mental health problem due to the lock-down please contact the relevant authorities
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