Making Money in 2020

Since outlining all the various ways you can make money online in the UK, the topic of making money in 2020 has been planted in our brains here in the Fire household. A google search makes it seem like child’s play to make a fortune in your sleep. The reality is vastly different however! Here’s are the ways we plan on making money in 2020:

Affiliate Marketing

There are a whole host of websites promising to guide you through affiliate marketing that promise you will earn money at the end. It’s hard not to get caught up in the hype. Is it fact or fiction though? Many FIRE bloggers who reached FI have ended up making spare money from affiliate marketing alone.

Is it as simple as adding a few choice links to a website and sitting back waiting for the money to come flooding in? I think not but I am willing to give affiliate marketing a fighting chance in 2020.

Since I already have my hosting package with Site Ground, I am free to set up multiple websites free of charge. This will give me the safety of setting up some affiliate websites without risking any cash.

There are various forms of affiliate marketing ranging from social media to Pinterest so I will need to invest some time to researching the ones that best suit me. 

Amazon Merch

It seems like everyone and their dog is making some serious bank with Amazon Merch so naturally it’s on my radar and I am rather curious about what it entails. The concept of Amazon Merch is very simple. It’s basically a print on demand service with Amazon dealing with all the boring bits like making it, delivering it and customer service and all you need to do is create the designs!

A fair bit of research is required in order to utilize keywords and also know what it is that people want to buy. No need to stand outside with a clipboard surveying foot traffic though! Merch informer has you covered! Merch Informer is basically specifically created software for Amazon Merch sellers that allows you to research keywords in order to boost your success at selling your designs.

It basically allows you to see what chance your idea has of selling by checking your competition, keywords and also makes sure your not infringing the all important copyright (Amazon takes this REAL serious!)

We have already signed up to Merch Informer so we are ready to go come January! If you use my code of LMF you get 20% discount off!

Amazon FBA

Yes another Amazon related money making opportunity! This time it comes in the form of Fulfilled by Amazon. This one can be rather simple such as finding some items in your local charity shop (such as computer games) and then sending them to Amazon to be sold via FBA or it can get really complicated such as getting your own products created and then sending them to Amazon.

There are various fees that are applied when selling via Amazon FBA so understanding them along with the whole process is crucial otherwise your simply wasting money!

Naturally there is software that you can get which is supposed to make the whole ensuring it sells well part much easier. We have recently subscribed to Jungle Scout (<– Affiliate Link) Jungle Scout is where you research what you’re thinking of selling.

There are tonnes of filters that help you shrink down Amazons vast selection and work out what it is that you want to sell. This one will need a bit more of an investment into it so it will probably be started later in the year.

Entrepreneurship

crayons

As an aspiring Entrepreneur I can’t wait to hopefully expand my businessnext year. (I will be writing a post about our first business togeether next week) )

We also have an idea for a new business that we will be fleshing out in January to see if its viable or not.

It can be really daunting thinking about setting up a business so I will be sharing my experiences as I go along so I can hopefully debunk some of the myths.

Get paid to Apps

I love the idea of inputting something into my phone and then getting rewarded straight away!

I’ve already done some digging into which types of apps I will be interested in since this seems the most simple one of all the ways I will be trying to make money next year!

I will be particularly interested in receipt scanning apps (HuYu – referral code RM9NAYSS gives us both 50 coins) along with fitness apps as well where you supposedly get paid to get fit.

I will be not a big fan of online surveys but I will be tempted to try a few just to see if they are worth it. If I will be going to do it, I’ll probably try the bigger more well known sites such as Prolific Academic (which is actually backed by Oxford University! 

Selling old tech

Its hard not to want to sell all the odds and ends that every house inevitably builds up. Out grown toys that still look like new, out of date mobile phones and laptops along with clothes that no longer fit me (my fitness journey is showing some serious results!)

Currently Facebook Marketplace is all the rage however I hate the idea of people coming to our house (plus It’s literally in the middle of no where – thank you countryside!) I have also fallen out of favour with Ebay due to a massive rise in the amount of scammers out there claiming not to receive goods when you know they have.

I’ll be looking for some newer ways to sell our unwanted items.

Conclusion

Next year is looking rather busy already for me in terms of trying out new ways to make money! I will be excited to get started but I will be forcing myself to take Christmas and a few days over New Year off. I have already created a basic planner for next year with each money making idea plotted out (I will be know I will be a planning freak!)

What are your money making ideas for next year? I’d love for you to comment with them below. I’d also love to hear how your side hustles went for this year. 

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