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A Detailed Guide on How to Make More Money in 2020

Michiel Mulders
June 27, 2020
make more money, borrow bitcoin, investment, investing, buy BTC

Did you expect just another money guide, updated for 2020? Let’s spice this guide up by providing you with actionable tips to get started with one out of the three presented side-hustles concepts in this article.

A side-hustle is an ideal way to make some extra income so you can afford a particular product, pay off a loan quicker, or just save some extra cash for a rainy day.

Let’s learn how to become a real hustler!

#1. Good Old Blogging

How to make more money with blogging?

There’s nothing better than blogging. It’s one of the most lucrative and effective side-hustles on this planet. Humans love digesting content, to be more specific, quality content. Humans love to learn new things and are always in the search of finding new, interesting insights.

You might believe you don’t have anything interesting to tell. I’m very confident this is not the case. Let’s look at the examples below to prove you wrong:

  1. You love commenting on political news and spreading your opinion about political facts. This is a great starting point for writing political columns or reporting about political outcomes.
  2. You have a degree in finance and a strong interest in mathematics. Why not combine both subjects to provide math-backed financial updates about stocks or overall predictions. 
  3. You love cooking and experimenting with food. You already have a treasury of information in your head through all the past experiments. Let’s use this untapped knowledge to great some fresh delicious content recipes. 

Next, let’s take a look at the prerequisites of blogging to turn this into an actual side-hustle to make more money in 2020.

Prerequisites?

Blogging mostly consists of the following skills:

  • Ability to express your thoughts on paper.
  • Have a unique view of events or a skill you like to write about.
  • Ability to sell your writings to websites or blogs.

How to get started?

Not everyone is a professional at writing down your thoughts on paper. Luckily, it’s a skill that can be trained through practice. Developing a writing habit will help you to improve your writing style and even develop your own writing style. Having a writing style is important as it reflects your personality and the way you like tackling subjects. 

To make progress more efficiently, you can invest some money in hiring an editor (or a friend who wants to do it for free). An editor can give you concise and very accurate industry feedback about your writing style and writing structure. You’ll progress more quickly when you can rely on “outside” feedback than trying to figure out yourself if your content is of high quality or not.

Once you are confident about your writing, you can start to publish articles on open content platforms such as Medium.com or Hackernoon.com. This will help you with building a portfolio of content you like writing about. Further, you can use this portfolio to pitch your writing services to websites or blogs. The most simple service consists of pitching blog ideas you want to write for a particular website.

#2. Learn a New Digital Skill

How to make more money with learning a digital skill?

Digital skills can be easily learned through the many free resources that exist on the internet. Think about logo design, video editing, or Facebook advertising. For all of those skills, plenty of free materials exist to educate yourself.

Further, it has been proven that learning a new digital skill helps you to stay relevant and find new opportunities. Let’s give some further context on how you can leverage a new skill.

For example, you decide you want to learn more about logo design. It’s fun to design logos, however, the market for designers is quite saturated. That’s for sure a problem. Throughout history, the problem of saturation has been solved by tailoring your services towards a specific niche. For example, you create logos or banners for financial services. 

In other words, you focus on a particular design language and become good at it. This way, you can leverage a new skill to become an actual side-hustle.

Prerequisites?

Learning a new digital skill isn’t hard. You just need an internet connection and the right software. Likely, you’ll have to make a one-time investment into buying the right software for your digital side-hustle.

How to get started?

Of course, you have to market your skill to relevant businesses that need a designer or any other digital skill producer. You can choose to pitch your service yourself to relevant businesses or list your services on a skills marketplace such as freelancer.com or fiverr.com. 

Often, it’s better to use the direct approach and present yourself and your work directly to a potential customer.

#3. Use Your Creativity

How to make more money with your creativity?

You might be surprised but using your creativity can get you a long way. 

For example, I was once looking for a nice-looking design lamp. It was hard to find the lamp I really wanted but the lamp shouldn’t be too costly as well. For that reason, I decided to design and construct my own lamp according to my wishes. With some cheap tools, I managed to build a nice design lamp that fits my interior. 

When friends came over to visit me, they all praised my creative lamp and asked if I could make one for them. This example exactly illustrates how you can grow your creativity into an actual side-hustle and why it should be part of this “how to make more money in 2020” list. 

Another example includes starting a YouTube, Twitch, or Instagram account. Humans consume more and more digital content. There is a growing demand for fresh, inspiring, and fun digital content. Are you able to make such content? Why not give it a try. I know people who have become an influencer by posting pictures of their beautiful dog or the tasty dishes they make. There’s a niche for everyone and everything. Remember that!

Prerequisites?

There are no limits, just your imagination. Let’s get creative!

How to get started?

The easiest way to validate a creative side-hustle is by trying to sell your creation or gauge interest for it. If responses are merely positive, there might be a good chance you can leverage your creativity and turn it into a side-hustle.

Can You Actually Make More Money in 2020?

In my opinion, the answer is Yes! For sure, money just doesn’t fly into your home. However, when you manage to find the right niche and find the right skill, you’ll have a good chance of making a side-income. Start small and be happy with the little earnings you can make. This is the starting point of your journey where you can start thinking about scaling your side-hustle.

This article is supported by YouHodler’s saving account functionality which allows any user to earn a passive income on their inactive cryptocurrencies. However, you don’t have to invest in volatile cryptocurrencies such as Bitcoin. 

YouHodler lets you invest stablecoins with their savings account offering and help you earn an annual yield of up to 12%. A stablecoin is another form of cryptocurrency generally backed by the US Dollar. This means that its value always remains stable around the price of 1 US Dollar. In other words, YouHodler provides risk-free passive income on your spare cash - crypto.

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About the Author
Contributor

Michiel Mulders is a blockchain developer with a passion for the crypto space. His interests include blockchain, entrepreneurship, marketing, and carefully crafted beers. Cheers!

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