£600 is the cost of a flat-share one-bedroom in London. TV, gas, and electricity bills can average £1000 per month, £32.40 per week for logistics, and £ 450 for food for a single person.
Most financial experts believe that you need £50,000 a year to live comfortably in London for these and other expenses. If you are saving 30% of that amount every year, it will take you 60 years to become a millionaire.
Is it possible to get rich online in the UK for a person who lives off online economic activities? Is it even feasible to live off an income you make online?
Google AdSense: £1- £10.84 Per Click
If you own a top-ranking website with lots of traffic, you can start earning money using Google AdSense. The Google AdSense program gives you a chance to integrate different types of ads on your website. Banner ads are an example.
In this gambit, you earn a few pounds every time someone clicks on the ad. In essence, these ads help you monetize your traffic without having to sell anything on the site. To be a substantively profitable way to make money, you will need to make your website user-friendly and publish regular and beneficial content.
Affiliate Marketing: £216.86 Per Day for Beginners
The working principle in affiliate marketing is simple: You earn a commission by promoting someone else’s products on your site. The commission is attainable after someone purchases the item via the product link you have embedded in your content.
If you have a robust website and your traffic is pretty steady, start this today. You can promote any product or service from brands if they align with the overall theme of your site. If you blog about gardening, that’s a chance to promote manure and gardening shears.
The commission you earn from affiliate marketing can be 30% of the sale amount. In some cases, it goes as high as 80% of the sale price.
Online Gaming: £2,530 Per Month for Average Gamers
This is just a ballpark figure for a person who invests time in perfecting their skills and choosing suitable games or bets. It’s wise to remember that it is a gamble, and you may end up losing that amount or even more per month. With that out of the way, there are slot machines that pay the most in bonuses and jackpots. Some of them can even be played on mobile.
Getting rich may take nothing but finding the best money-making games online. You can also earn real money by playing regularly in video game tournaments and e-sports. A few gamers also earn an extra income as video game testers.
Sell of Online Courses £0 – £50,000 Per Month.
Depending on your skills, you can create and sell several digital products, including an e-learning course. For success in this endeavor, you will need a portfolio or website or a thriving social media account where potential clients can see your skills. Profitability here depends on the relevance of your course and the communication strategy you mount to market it.
The Sale of Advertising Space on its Site: £4 CPM Rate
If you have implemented proper SEO measures on your site and have high traffic to show for it, you deserve a reward for your sweat. Selling ad space is the how. It works like AdSense, but in this sense, it is you don’t earn money based on clicks but on the display space you provide.
Most ad space networks pay a rate of £4 per thousand impressions. But don’t just sell a single space on your site. You can make more money by selling several sites and therefore displaying ads from several brands simultaneously. This will earn you more money. But as you do that, please ensure that your site remains readable for internet users, don’t bore them with ads all over.
Sponsored Posts £2000 Per Month
If you have a blog site and get many visitors, you can offer sponsored posts to businesses. Here, companies pay you to write an article that showcases their businesses, products, or services favorable light. Once the piece goes live on your blog, the company gains visibility and becomes known to your audiences. Depending on your site’s traffic density, you can charge from £30 to £1,500 for sponsored posts. Jolly good.
YouTube £13 per 1000 Ad Views
You might not know this, but monetizing with YouTube can earn you quick money. The process is straightforward. You must monetize your account in the Creator Studio section of the platform. You are also required to have a Google AdSense account. After that, all ads positioned on your videos earn you a commission.
Sponsorship on Instagram £1,445.77 Per Sponsored Post
If you have a few thousand Instagram followers, brand sponsorship on Instagram can be an effortless way to accelerate your financial growth ambitions. Here is how it works: you will earn a commission when you post, tag, or mention branded products through photos, videos, stories, or even contests.
Selling Links £100/Link
Link selling can be a money magnet if you have a website with an excellent PageRank. It is as simple as selling liking opportunities to other smaller sites to get featured on the first page of search engine results. In other words, you are paid to link to those sites so they can benefit from your authoritative credibility during organic ranking.
So, Can You Get Rich Online?
The answer is definitely yes. All you need is a combination of different income sources and the ability to save and invest your money wisely.