Many people dream of increasing their monthly income but struggle when it comes to realistic ideas that can help make their hopes a reality. Additionally, there are only so many spare hours for people already working full-time jobs to devote to side hustles.
While most money-making ideas need a degree of planning, dedication, motivation, and a splash of innovation, it’s not impossible to increase earning potential and boost the bank balance. An initial search might bring up plenty of scammy, too-good-to-be-true get-rich-quick schemes, but keep hope!
Here are 11 legitimate ways to make extra cash each month and get closer to 10K aspirations.
Shopify automates the dropshipping process to make it super easy to sell a range of products online for a profit. Setting up online stores is quick and easy, with a drag-and-drop layout then all you need to do is promote your goods and store and (hopefully!) watch the orders roll in.
2. Virtual Bookkeeping
If organization and accounting are among your strengths, why not establish an online bookkeeping company? Many entrepreneurs don’t have the time or know-how to manage their businesses successfully and keep up with admin tasks. Operating online significantly reduces your overheads and offering niche services to specific professionals can help you stand out.
3. Affiliate Marketing
There are two main affiliate marketing models, both of which allow you to earn commissions on sales or leads for a range of goods and services. If you already have a solid online presence, promoting products and services can see your profits soar. Clickbank takes the pain out of affiliate marketing, matching publishers and advertisers from a wide range of niches.
While most high-earning blogs take time to become established, the payouts can be well worth the effort. WordPress is quick and easy to set up a blog, and start-up costs are minimal. Once bloggers get a committed reader base or reach a wide audience, there are various ways to monetize a blog. Plus, a good blog, such as freelance writing or digital marketing, can open further doors for making money.
5. Social Media Management
Companies of all sizes rely on various social media channels to interact with potential customers, provide information, and promote items and services. If you’ve ever wondered just how social media channels keep ticking along, enter the social media management. Tech-savvy social media managers are highly in demand for everything from scheduling posts and booting engagement to running advertising campaigns and analyzing performance.
Anyone with specialized skills or knowledge can capitalize while helping others develop effective business strategies and diversification ideas. Think experts in cryptocurrency, design, management, and more.
If you want to make $10k a month or more, niche down to appeal to a particular group rather than trying to offer something for everyone.
7. Online Teaching
People with sought-after knowledge, particularly in specialized areas, can sometimes make bank teaching online. Think beyond the usual in-person one-on-one or group lessons and create pre-recorded courses that can be accessed from any place at any time. That way, your skills can make you money, even as you sleep.
8. Merchandise Design
If you have an artistic streak and a knack for promotion, design merchandise to sell online or in person. Online outlets can typically reach many more potential customers. From t-shirts and mugs to calendars and tote bags, there are many possibilities when it comes to creating quirky designs that others would love.
9. Real Estate Investments
Okay, so this idea would require the funds to purchase properties or existing property ownership. However, with a little effort, renting out or flipping properties can easily set you on the way to an incredible 10K—or more!—each month. Interested but need properties or more capital? Take a peek at crowdfunding campaigns to buy you a slice of the pie.
With a keen eye for detail and top-notch language skills, proofreading can become a lucrative venture. Mistakes can easily cost companies big bucks and damage reputations, so many seek out experienced proofreaders to save any embarrassment.
With good content, solid strategies, and top-class engagement and video editing skills, YouTube can help you bring home the bacon. There are diverse ways to monetize a popular YouTube channel, including advertisements, sponsorships, personal sales and affiliate marketing.
47 SURPRISING WAYS TO MAKE AN EXTRA $1,000 A MONTH
Could you use an extra $1,000 a month? Here are 47 realistic ideas you may not have considered before to balance your budget.
Andrew Herrig is a finance expert and money nerd and the founder of Wealthy Nickel, where he writes about personal finance, side hustles, and entrepreneurship. As an avid real estate investor and owner of multiple businesses, he has a passion for helping others build wealth and shares his own family’s journey on his blog.
Andrew holds a Masters of Science in Economics from the University of Texas at Dallas and a Bachelors of Science in Electrical Engineering from Texas A&M University. He has worked as a financial analyst and accountant in many aspects of the financial world.
Andrew’s expert financial advice has been featured on CNBC, Entrepreneur, Fox News, GOBankingRates, MSN, and more.