There are several ways to make five thousand dollars a month. Some are passive income, and for others, you’ll need to put forth a little more effort to earn money online. Making money online can involve various methods and strategies to increase your income. Here are the 15 best ways to make five grand a month.
1. YouTube Channel
If you have a smartphone, a microphone and a place to shoot, you’re ready to start your YouTube career. There’s money to be made through posting videos. Decide what niche you want to talk about. Once you qualify, you’ll earn money from YouTube for showing their ads in your content. You could also solicit brands to sponsor your videos or set up a membership for loyal viewers through Patreon, making it a great way to earn extra money.
2. Real Estate
You don’t necessarily have to own the buildings to invest in real estate. Investing in rental properties can be a lucrative way to generate passive income and achieve financial stability. Some groups let you buy into real estate deals and receive dividends from your investment. It’s like the stock market, only with real estate. Although there’s a chance of losing money, real estate is hot right now and might be a great investment. Some companies that you can invest with are Fundrise, Crowdstreet and Roers.
3. Stock Images
Photography can turn into a money maker and a way to earn money online. If you have a camera and like taking photos or videos, you could sell them through platforms that cater to people needing pictures or video. You upload your images, and when people buy them, you receive a commission. Once you upload an image it has the potential of being bought multiple times. That means it turns into passive income. Some sites you can upload to include iStock, Adobe Stock and Alamy.
4. Amazon FBA
Otherwise known as Fulfillment by Amazon, this is a popular business model many use to sell products. Retail arbitrage through Amazon FBA can enable individuals to earn a few thousand dollars each month. In this model, you have your products in Amazon’s warehouses, and they pack and ship them to consumers. With Amazon FBA, you can concentrate on making your products and let Amazon do the rest.
5. Freelance
There are many ways to freelance. Freelance writing is a lucrative opportunity, allowing individuals to earn significant income and control their schedules. You can write, do graphics, bookkeeping, edit, etc. Most of the time, you choose the rate. Platforms where you can find customers include Upwork, Fiverr, Freelancer and more.
6. Drop Service
Let’s say you have more freelance work than you can handle. But you don’t want to turn the work away when customers call. You can expand your freelance business by drop servicing. In other words, you hire another freelancer to do the job, but you pay them less than the customer will pay you. For example, the client pays you three thousand, and you pay the freelancer one thousand. Then you pocket the difference and earn two thousand for doing nothing. Drop servicing is quite common, and if you have the connections, it is an easy way to make money.
7. Create Online Courses
Creating online courses is a great way to earn five grand a month. Online course creation is an effective method for individuals to share their expertise while generating income. If you know about a specific topic, create a course that teaches other people. It could be about woodworking, writing, computers and more. Anything that you know about could be a course. If you have a YouTube channel, you could sell it through it. You can also promote it through social media. Two other areas that will let you sell your course are SkillShare and Udemy. Once you’ve made the course, it turns into passive income since it will sell multiple times.
8. Dropshipping
Dropshipping is when you don’t have any inventory but sell products. Online marketplaces like Amazon and platforms such as Upwork and Fiverr facilitate income generation by providing accessible avenues for earning money online. You act as a middleman and purchase inventory only when needed. When a customer places an order, you forward that to the supplier, who ships the product directly to the customer. Shopify is one of the best platforms for dropshipping since it’s simple.
9. Salesforce Consulting
Salesforce is CRM (customer relationship management) software that businesses and non-profits use worldwide. Become a Salesforce consultant. Even without the technical background, entry-level certified Salesforce pros earn $60,000 to $70,000 annually.
10. Resell Items
Depending on your specialty, you can sell undervalued goods on eBay or Etsy for more money. Starting an online business is a great way to generate income from home, with various methods like retail arbitrage and blogging offering significant earning potential. You can also go to garage sales, thrift stores, or even Facebook Marketplace to find items that no one wants but are worth something. Buy low and sell high.
11. Consulting
Were you great in business and have a lot of insights? Or maybe you’re a nutritionist and want to advise athletes. People will pay you for help on a variety of subjects. Don’t sell yourself or your knowledge short. Go on social media and promote your expertise. Network on LinkedIn and make yourself known. Remember when promoting yourself as a consultant let people know that you can find the problem and solve it, helping them achieve a consistent monthly income.
12. Car Detailing
Most people hate cleaning their cars and would rather hire someone else to do it for them. It's a bonus when someone can come to the customer's house. You'll be able to choose your hours. Most people will pay $200 or more, depending on the vehicle's size. You can do several on the weekend and work your day job during the week. It’s easy to pick up five grand a month.
13. Virtual Assistant
Virtual assistants (VAs) may manage emails, schedule appointments, manage social media, and more. Start making money online by offering virtual assistant services, which can be a lucrative way to generate income from home. A VA’s tasks will change according to the industry. An e-commerce task list might include listing products, processing orders, or managing returns and refunds. Most VAs work their own hours and have the freedom to work anywhere. Look for clients on Facebook and LinkedIn.
14. Salesperson
Most salespeople work on commission. So, the harder they work, the more they make. It's one of the few jobs where you can control your income. Different sales positions include radio advertising sales, TV advertising sales, car sales, industrial sales, etc.
15. Print on Demand
Print on Demand is like dropshipping, but you provide the creative to place on the products. Creating your own website to sell print on demand products can help you build a platform to showcase your designs and attract customers. For example, if you’re an artist or photographer, you might want to design or shoot an image to put on a T-shirt or tote bag. Once the image goes on the selected product, you promote it. When a customer purchases the product, the Print on Demand company prints the product and then ships it to the customer. There are several Print on Demand companies like Printful, Gelato, Printify and more.
Conclusion
We've shown you just a few jobs you can do to earn five grand a month, some of which you can do from the comfort of your home.
