What could you do with an extra $1000 a month?
For many people, that’s their rent, mortgage, or months worth of school tuition.
Earning an extra $1000 a month isn’t out of your reach, either.
There’s plenty of realistic ways to add this to your monthly income and improve your personal finances.
It simply requires you to choose one strategy, stick to it, and be patient.
That’s why I am going to teach you the steps to earning this amount of money every month. With enough elbow grease and patience, you can look forward to smiling at your bank account.
Pick a money-making method
Being a freelancer can net you a lot of money as a side gig. While it usually begins as a side hustle for many individuals, it’s one of the best routes for turning into a full-time job.
There is nothing stopping you from earning an extra $1000 a month as a freelancer or even thousands of dollars a month. It all depends on how much energy you put into finding work and refining your skills.
So, how do you begin freelancing? The first step is to decide what you would like to offer. This can be anything like web design, freelance writing, graphics designer, social media management, or similar skills.
No skill can’t be monetized as a freelancer, and honestly, the more obscure the better. This means that there will be less competition and an easier room for growth.
Once you have chosen what you’d like to freelance, it’s time to get some clients! This is often the most daunting step to becoming a freelancer, but thankfully there are platforms like Upwork.
Sign up for a free account and begin the registration process. You will be required to enter your first name, last name, and email address.
The thing is with Upwork is that it’s such a great platform to jumpstart a freelancing career that you need to apply to get in. It’s free, but there’s still a process.
You will be asked questions like what services you’re offering, your specialty, and what your expertise level is.
Get descriptive as possible because Upwork wants freelancers that aren’t generic. For example, instead of just claiming to be a freelance writer, fill out the application that says you’re a freelance book and white paper writer.
Once you’re accepted, begin sending proposals to jobs that interest you. Mention how you will help them achieve their business goals, your credentials, and enjoy earning some extra cash!
Start a blog
Did you know that bloggers can earn up to six figures a month? Don’t believe me? Look at these charts from BloggersPassion that covers some of the highest-earning bloggers’ incomes.
If people can earn this much, making an extra $1000 a month as a blogger isn’t a pipe dream. There are tons of ways blogs are monetized that I’ll touch on in a bit, but you’ll need a website to begin.
I recommend using a website hosting service like Bluehost. You can get shared, cloud, or dedicated hosting, all of which offer increasingly better performance.
New bloggers will most likely be better using shared hosting, as it’s the cheapest option and you can always upgrade later. You can bundle hosting with a domain name to make the process easier, as well. This is the URL of your blog.
I suggest creating a blog around something you love. This can be a hobby or related to a career. This makes writing articles, marketing, and other tasks much more fun because you love it at the core.
But, how do you make money blogging? A few different ways, which the first is affiliate marketing. This is where you promote other products through special links and get a commission for customers you refer to.
You should also consider selling your own physical products or digital ones like e-books and courses. Eventually, you could sell services that relate to the blog.
Sell things on eBay
There’s a reason multi-millionaire entrepreneurs like Gary Vaynerchuk recommend everyday people like you not to estimate the power of reselling items on eBay. It’s because it works.
Take a look in your closet, basement, or garage. You probably have a heap of clothing, electronics, or random items you don’t use anymore that can be turned into cash.
Even if you sold all of these things or don’t have anything, thrift stores, lawn sales, and products are available online for you to purchase. These then can be resold at a higher price for profit.
While often overlooked, selling items on eBay is one of the quickest ways to start making money online. Plus you get to work from home too!
Become a virtual assistant
Imagine being able to work remotely or from home doing low impact tasks and earning plenty of extra cash every month. That’s the reality for virtual assistants all around the world.
Being a virtual assistant entails helping businesses with tasks like email, customer service, and updating websites. Many of the activities can be learned very quickly, so it doesn’t always require specific skills.
It also allows for a very flexible lifestyle, since you work when and where you want. Assistants should consider billing through a free service like PayPal on an hourly basis since it’s difficult to determine how long a project might take.
Let’s say that you wish to charge $15/hour. That means you will need to work 67 hours per month or approximately 17 hours per week to make $1000. Calculate how many hours you will need to work based on your individual rate to hit this goal.
You can find virtual assistant jobs on remote job boards like Flexjobs. Search for “Virtual assistant” with your area code to see what’s available.
Send in your cover letter and resume to any gigs that interest you, and eventually, you’ll hear back from an employer.
A great perk of being a virtual assistant is that you can work with many different businesses at once. For example, one may require you to handle emails for a couple of hours per day, and you might write content on the weekend for another.
Those that want to take this path seriously will need to brand themselves and create a website. This will allow you to create a portfolio and services page, while also generating organic traffic from search engines.
Create a system
Consistency is key if you want to learn how to make an extra $1000 a month. It doesn’t matter what method you choose of making money, you’ll need a system to maximize it. Here are some tips to do so.
Set hours during the day to work
I get it. You have school, work, and errands to attend to. If you really want to make that extra money, though, you need to hustle. This means setting a few hours aside every day to work on your income stream.
If you work from 9-5, then consider waking up early to get a couple of hours of work in or doing it in the evening. You can also set certain days of the week, such as weekends, to dedicate towards your goal.
Create goals and milestones
You won’t suddenly hit $1000/month without first hitting milestones like $500 and $1000. This is why it’s crucial to set goals during your journey.
It will keep you on track, motivated, and on the right path. Having no goals can make you feel aimless and you won’t achieve the monthly income you desire as fast as you want.
Goals can be things like making your first $100 or as small as writing your first blog post. Keep taking steps forward like this, and before you know it you’ll be earning serious money.
Reinvest into the business
If you’re starting a side hustle to earn $1000/month, you’re going to end up with a small business whether you realize it or not. To keep the revenue coming in, it’s wise to constantly reinvest.
Let’s say that you begin blogging, for example. You can take your affiliate commissions and outsource blog posts, buy Facebook ads, or upgrade to a better hosting package.
By reinvesting into your business, you’re taking short term profits and speeding up the long term success of the project. How you will reinvest will be different depending on exactly what you’re doing, but be creative and find a way to turn money into more money.
Making an extra $1000 a month is a lot more realistic than you might think.
It requires you to first choose a money-making method that aligns with your skills and interests. Blogging, freelancing, and selling items on eBay or other marketplaces are great choices.
Staying organized will maximize your extra income and efficiency, so it’s key to create a work schedule you can follow. This can be certain hours or days you choose to work on your side hustle.
Create goals for yourself, too. These can be related to monthly income, milestones, or other achievements.
Lastly, take some of the money you earn and put it back into the business. This could be ads or outsourcing the work you normally do, for example.
The sooner you start, the sooner you will start earning an extra $1000 a month, so take what you learned and begin today!