We’ve all come across articles about making money online and online jobs. They can be great for earning extra income that can help you pay off debt or invest quicker than usual. Plus, these opportunities allow you to work on your own terms and from wherever you want, which is pretty appealing.

With so many options out there, it can be tough to figure out which ones are the best for you. Should you trade your time for money by freelancing, or maybe deliver groceries for extra cash?

My Story

My journey to financial independence was straightforward. I graduated from college with over $60,000 in student loan debt, leaving me with a negative net worth and only a junky old minivan as an asset. Despite working hard and getting good grades, which helped me land a decent job, I realized my full-time job alone wouldn’t be enough. I didn’t want to be paying off student loans into my mid-thirties.

I explored online money-making opportunities and learned a lot from various income sources. Today, I’ve paid off all my student loans, thanks to the combination of my day job and online income, and I’m now venturing into real estate investing. Here are the steps I took and my future plans.

How to Use Online Ventures – Balancing Time and Money

I’ll share a few steps from my journey with some useful tips along the way.

Step 1: Monetize Your Skills

I started by freelancing to earn extra income. As a finance major, I had strong financial modeling skills that I could monetize immediately. Freelancing is perfect for people with skills but limited resources—whether it’s graphic design, video editing, proofreading, consulting, translating, or any other talent you have. Think about what you’re good at and enjoy doing, and you can likely monetize it.

Step 2: Time is Money

As I earned more from freelancing, I paid down my debt quickly. However, I realized that with freelancing, I was trading my time for money, which felt like another day job. Although the money was good, it wasn’t scalable without sacrificing more time. With some financial flexibility, I decided to take a risk and try blogging, and I was hooked.

Blogging offers unlimited income potential, flexible working conditions, and the ability to write about anything you’re passionate about. Most importantly, you can scale a blog without putting in excessive time. Although it requires a lot of work and learning, staying committed can pay off. I eventually grew my blog to match the income of my full-time job.

This step is about taking risks in your online income journey. If you have some budget flexibility, take a chance and see where it leads.

Step 3: Scale and Combine Efforts

Combining freelancing and blogging can be powerful. Your blog can generate more freelancing opportunities and vice versa. For example, your freelancing work can drive traffic to your blog, where you share articles, tips, and advice.

Always treat your ventures as a business. Look for ways to improve efficiency without sacrificing income potential. I never considered scaling my freelancing by hiring others to handle lower-level tasks, which could have boosted my business.

Conclusion

Making money online is a viable path to financial freedom. There’s a lot of advice out there, but the key is to follow what works best for you and within your comfort zone. The most effective way to achieve financial independence is by taking action. Reliable online income sources like freelancing can provide the extra income and flexibility needed to improve your financial future.