This is one of the most popular ways to earn money online. “Freelancing or consulting within your current skill set is a relatively low-risk approach to making extra income,” says financial research analyst Richard Morgan, CEO and head of research at Catalyst Fund. You can leverage your current and past work experience as a portfolio to showcase your skills and attract clients. As a freelancer, you have the freedom to decide how many projects you take on and their deadlines, so you can balance this work with any full-time commitments you may already have.