How to Make Money Online (Without a Degree)

Goals. Dreams. Resolutions. It’s always “New Year, New Me”!

While many of us are striving for material goals, there are those who pursue goals that go beyond spending money. Online tutoring and coaching is one such field, where individuals use specialized training to help other people achieve their goals. You might ask yourself, “What are the goals in life that I am trying to achieve? How will this help me monetize my time? How can I make money from home?”

This article is going to answer all of those questions, and more.

Why Online Coaching And Tutoring?

Before you scoff at the very idea of making money online, it’s essential that you consider why people are doing this and what their target audience is. The short answer is that a large number of Americans enjoy the benefits of a higher education but can’t pay for it. In some cases, they don’t have enough money for food and other necessities. In other cases, they’re saddled with massive student loan debts that are making it difficult to invest in the sorts of things that could lead to more income. This is especially problematic for those who want to make a living online, as they’re often unable to find the specialized skill sets needed to perform in their area of expertise. For these reasons, online tutoring and coaching is becoming a viable alternative for many.

Even for those who can pay for quality education, there are still major barriers to getting a good job in an area of expertise that you’re unfamiliar with. According to the U.S. Chamber of Commerce, over half of all U.S. workers could benefit from additional education or training to improve their chances of finding high-quality jobs. With so many people searching for jobs, it’s essential that employers start offering more training and education opportunities if they want to retain their employees. It’s also important to note that many large firms have transitioned to a more employee-centric work environment, which has led to increased opportunities for those looking for new work-life balance options.

The Rise In Online Tutoring

There are many reasons why more and more people are turning to online tutoring and coaching as a source of income, but here’s a short summary:

  • The cost of a traditional education, especially if you’re attending a private school, is prohibitive. Tuition at a private university currently averages around $60,000 a year. Not including room and board, that’s $120,000 you’re throwing down the drain. Plus, the cost of books and supplies is another $10,000 or more. In many cases, students are expected to pay for some or all of their education. Even if you’re applying for financial aid, the options can be limited. There’s also the issue of how much you’ll need to earn after you graduate to be able to pay off your student loans. For those who want to make a living online, this can be a major obstacle.
  • Many people, especially in the Millennial generation, have seen a sharp decline in their standard of living compared to previous generations. For those who can’t find a job in their chosen field, getting a degree may be the only way to ensure they can provide for themselves and their families. For those who do end up finding work, it’s often in a field that don’t necessarily utilize all of their skillset. In some cases, they may even struggle to find the work-life balance that many of them are looking for.
  • For those who are looking to make extra cash, working nights and weekends is often the only way to make ends meet. If you’re looking to create a steady stream of income, online tutoring and coaching is a promising option, as you can typically start and stop at your leisure. Plus, you get to choose the clients you work with, so you’re not bound to any one particular organization.
  • In these days of constant connectivity, there are many job opportunities available online. If you’ve got a computer, smartphone, or tablet, you can find work building apps, doing online market research, or creating websites. While it can be lucrative to create websites that generate revenue, the majority of online tutoring and coaching services are free, so there’s no financial burden to you as the client. Plus, the flexibility around scheduling can be attractive, as you don’t have to worry about getting a babysitter or finding a way to bring kids to your work sessions.

The Different Ways To Earn

While many online tutoring and coaching services are geared toward helping people make a quick buck, there are more and more options available for those who want to make a long-term commitment to the field. Here are some of the ways that you can generate a steady flow of income from online tutoring and coaching: