Updated date:

How to Make Money Online in 2020: My Favorite Revenue Streams

Timothy is a writer and video content creator. He enjoys helping others learn to improve their lives and shape better futures.

These online revenue streams will help you earn extra cash this year!

These online revenue streams will help you earn extra cash this year!

2020 is the year that you are finally going to make money online. Don't let the fact that you only made a grand total of $0.38 off your "internet business" in 2019 deter you from trying again this year.

Earning income online comes from a combination of finding a good platform or program and then spending the time, energy, and effort needed to make it profitable.

I can't help you with the time, energy, or effort. But, I can recommend some good platforms and programs. These are websites that I am currently using that allow me to earn money each and every month.

Let's get started! There's no time to waste. 2020 is already ticking away...

My Favorite Online Revenue Streams

  1. Youtube
  2. Hubpages
  3. Patreon
how-to-make-money-online-in-my-favorite-revenue-streams

1. Youtube

I don't think the average person realizes how much money that can be made just by uploading videos to Youtube. And I'm not just talking about the big Youtube stars who have millions of loyal fans. Even small Youtubers can earn a decent monthly income from their content.

Now don't get me wrong, Youtube can be a grind. It takes a lot of hard work over a long period of time to start getting checks from Google (Youtube's parent company) each month. And there is a lot you will have to learn about making videos, promoting your work, pleasing the Youtube algorithm, how to get monetized, etc.

But don't let any of this bother you. And definitely don't let it keep you from starting a channel and sharing you videos with the world. Learning everything you need to know to become a successful Youtuber is part of the process, and part of the fun. If you hang in there and keep grinding away there is almost no ceiling to the amount of money you can earn.

I'm a very small Youtuber but I've finally grown my channels to the point where I make a decent monthly income. It's one of my favorite revenue streams not just because of this, but also because I really love sharing my story with the world via video.

I can literally open the camera app on my phone, rant about something (or someone) that bothered me today, upload it to Youtube, and thousands of people watch it. And I get paid for it! I can't think of a better side hustle.

2. Hubpages

One of the best websites I have ever stumbled across online is Hubpages.com. Hubpages is an online platform that allows writers to post their work for free. Hubpages then splits any ad revenue generated when readers view the article with the author. This allows writers to get paid for their writings without having to have a blog, website, or huge following.

I've been writing for Hubpages for a number of years now and one of the features I really appreciate is the freedom to write about basically anything. As long as it's not something inappropriate you can write about whatever topic you like and submit it to Hubpages. There is a certain level of quality that must be met but once your article is accepted by Hubpages you can start earning money.

Hubpages has a vast network of niche websites, and they will place your article on the one that makes the most sense. For example, if your article is travel related it will probably be placed on Wanderwisdom.com. This works out well for writers because search engines love related content. Having your travel article appear on a travel website usually means that your article will get a higher ranking on the major search engines than it would if it was standing alone.

Hubpages also makes formatting your article a breeze as well. You can easily insert text, pictures, videos, tables, and much more into your articles. You don't need to know any HTML or coding. Anyone who has tried to start a website or blog from scratch will appreciate the simplicity of the Hubpages interface.

Hubpages also has a number of different ways to earn money from your articles built into the software. You can link your Amazon Associates account, your Google Adsense account, and Hubpages even has their own in-house ad network that you can join.

Hubpages also has a excellent referral program that allows you to earn income when people who you refer to the site write articles. This is actually the primary way I earn money with Hubpages. Between my articles and my referrals I make a decent income from Hubpages every month.

If you love to write or have always wanted to try your hand at writing, or if you just want to finally make some money off your writing then I definitely recommend checking out Hubpages.com.

Membership sites like Patreon allow creators to set up their own content subscription service and earn money monthly from supporters.

Membership sites like Patreon allow creators to set up their own content subscription service and earn money monthly from supporters.

3. Patreon

Patreon is a membership platform that allows creators to run their own subscription based content service. Basically, you can become your own Netflix, Hulu, or Disneyplus.

I personally believe this is the future when it comes to content creators making money online. Even platforms that I recommend like Youtube are starting to get very strict with their rules and regulations. And the ability to monetize your content can be removed for the slightest infraction. And, sadly, I think this trend will only get worse as time passes.

Platforms like Patreon will be the saving grace of people who want to create content online and don't want to be censored. Anyone who views your content will have paid for the privilege and will know what to expect. If they have an issue they can just remove their patronage.

Patreon allows you to set your own price for people to have access to your content. This gives you even more ability to control how much money you make each month. Patreon bills your patrons each month and pays you through Paypal (minus a small processing fee.)

The possibilities are almost endless as to what kind of content you can create for Patreon. You can even offer your patrons free gifts and rewards for supporting you. And you can always add new, more expensive levels of support as you get better at creating content and have more to offer your patrons.

I love the ability to see how much money I am going to make each month with Patreon. And the fact that you can start earning money with Patreon from day one is another great feature. If you are looking for a way to diversify where your content appears online then you really should give Patreon a try.

Note: There are a number of websites similar to Patreon available to creators. If Patreon doesn't work for you, check out some of it's competitors. You should be able to find one that has the features for which you are looking..

Taking a break from working online. Sometimes you need to play in the snow.

Taking a break from working online. Sometimes you need to play in the snow.

Climbing mountains in Glacier National Park. My online income gives me the freedom and the means to routinely travel to new places and explore new heights.

Climbing mountains in Glacier National Park. My online income gives me the freedom and the means to routinely travel to new places and explore new heights.

Why You Should Start an Online Side Hustle

There has never been a time like the one we are currently living in. It is literally easier in 2020 to start a business or side hustle than it has ever been in history. Our parents and grandparents didn't have the opportunities that we have, let alone or ancestors.

The internet has made it possible for anyone with an internet connection or a cellphone to take steps to start making money online. And it doesn't take large amounts of money. In fact, all the opportunities I mentioned in this article are free to join and get started.

If you were born after the internet was already popular then you might not realize how how big a deal this is for each and every one of us. You might take for granted the access you have to money making platforms and websites. But those of us with a few years on us remember how hard it was to start a business from scratch before the World Wide Web.

If you aren't taking advantage of the earning potential the internet provides you then you are missing out. One of the biggest advantages of earning income online is that you can do it from virtually anywhere. As long as you have access to the internet you can work. And these days there is free Wifi literally everywhere, so you don't even have to have your own access.

Another reason you should start an online side hustle in 2020 is the access you have to millions of potential customers, followers, and business partners. When your business is online then anyone who uses the internet is a potential customer. And there are billions of people online and the number keeps growing each year.

You only need to get your products, videos, or articles in front of a small fraction of these users and you will be set for life financially. There is no ceiling to the amount of money you can earn online. You just have to find a way to get attention on your content.

One last reason why starting an online business or side hustle is a great idea is the ability to make money even while you aren't online yourself. You can be fast asleep and your Youtube videos are still being watched and you are generating revenue.

You can be on a beach in Mexico nowhere near a computer and someone can be reading one of your articles or signing up for your Patreon. You no longer have to 'be in the office' in order to make money. The internet allows you to do the work once and earn money off of your efforts for years.

Conclusion

It's not too late to start a successful side hustle online. 2020 is the beginning of a new decade and it can be a new beginning for you as well. The platforms I mentioned in this article are some of my favorite methods to earn money online because they are time tested and legit.

I highly recommend you try out one or all of them if you haven't already. Who knows, by this time next year you could be the one writing this article sharing your profitable revenue streams with others.

Comments

Janisa from Earth on June 23, 2020:

Patreon seems like a nice platform. I've heard about it before, but I have yet to figure out a way to integrate it with the services I offer

Liz Westwood from UK on January 16, 2020:

You give interesting tips in this article. I have a long way to go to catch up.