Picture yourself having an extra $1,000 in your pocket every month. What would you do with it? Boost your emergency fund, pay off debts, or treat yourself to a vacation? While this may sound like a distant dream, increasing your monthly income by $1,000 might be more achievable than you think.
An additional income can significantly assist you in achieving your financial objectives more quickly. So, how can you increase the funds in your bank account each month? Besides conventional solutions like negotiating a salary raise or finding a higher-paying job, you can explore additional work options to supplement your income. This could involve taking on a part-time job, starting a side business, or even monetizing a hobby. If you’re unsure about starting a side hustle or where to begin, don’t fret, as I’ve got you covered. Below, I’ve shared 15 ways through which you can earn an extra $1,000 monthly or even more!
Here’s How to Make an Extra $1,000 a Month
This compilation doesn’t encompass all the possible avenues for earning an additional $1,000 monthly. However, I hope it gives you a glimpse of the available options to aid you in reaching your financial aspirations. Let’s dive in!
1. Start Freelance Writing
If you enjoy writing, delving into freelance writing could be your avenue to earning an extra $1,000 per month. The beauty lies in the array of freelance writing opportunities available, ranging from article writing to copywriting, SEO writing, and technical writing. To kickstart this journey, all you need is a computer, strong writing skills, a grasp of proper grammar, and the ability to conduct research, depending on the writing style you choose.
There are several ways to seek freelance writing gigs. You can explore traditional job boards such as Indeed or LinkedIn, scout particular publications or companies for freelance or part-time roles, or peruse platforms like Upwork and Fiverr for writing assignments. Transforming these gigs into long-term commitments can provide a stable income stream.
Your earning potential as a freelance writer hinges on the volume of work you can handle and find. Many freelance writing positions pay per piece or per hour, with rates varying based on the complexity and length of assignments. According to Upwork, hourly rates typically range from $15 to $65, while per-piece rates can fall between $50 to $500 or more, depending on the nature and complexity of the work. Establishing ongoing partnerships with clients can enable you to implement retainer fees, ensuring a regular income stream.
2. Begin Blogging
Contrary to popular belief, blogging remains a viable avenue for earning additional income. Launching a blog, especially one catering to a specific niche, presents an opportunity to generate extra funds on your terms. Define your passion and use it as a launchpad. A thriving blog hinges on your audience’s size and engagement levels, determining your monthly earning potential. As with most side hustles, your income potential is linked to the hours you devote to initiating and maintaining your blog.
Earnings from blogging encompass sponsored content, ads, and affiliate marketing. If you’re new to this realm, your rates will likely commence lower than seasoned bloggers. Since bloggers establish their rates, income potential fluctuates depending on audience size and traffic. Initial earnings range from a few hundred dollars for sponsored posts to several thousand dollars.
3. Practice Graphic Design
Embarking on graphic design as a side hustle is a rewarding option, whether you seek supplemental income alongside your main job or wish to acquire new skills for leisure. Similar to freelance writing, there are multiple graphic design avenues to explore, including logo design, website design, social media graphic design, creating printable designs for online sale, and more. To attract design clients, having a ready-to-show portfolio (possibly on a website) proves beneficial. Following this, you can reach out to your network for opportunities or peruse job boards for suitable openings.
Engaging in this side hustle is more fruitful if you already possess basic design skills, facilitating quicker income accumulation with less learning curve. Your project-based or hourly earnings hinge on your level of proficiency. According to ZipRecruiter, the average freelance design rate per hour is $35.
4. Assist with Bookkeeping
Do you boast an accounting or business background? Are numbers your forte? If so, bookkeeping might be the ideal part-time engagement to bolster your finances. Bookkeepers aid clients in managing their accounting and bookkeeping tasks, such as payroll, transaction recording, account monitoring, and data entry. Securing bookkeeping clients involves networking with local small business owners, exploring job boards, or leveraging freelance platforms like Freelancer or Flexjobs.
According to Indeed, bookkeepers typically earn between $15 to $30 per hour. Earnings can vary based on your location and whether your clients are remote or local.
5. Become a Virtual Assistant
Virtual assistant roles have surged in popularity, particularly with the remote work trend accelerated by the pandemic. A virtual assistant side hustle entails remotely performing administrative tasks for clients, such as email management, appointment scheduling, phone call handling, and travel booking. Effective virtual assistants exhibit traits like organization, strong communication skills, and adept time management, with no strict educational prerequisites.
According to ZipRecruiter, the national average hourly rate for virtual assistants stands at $24. Experience plays a crucial role in enhancing your earning potential.
6. Sell Something on Etsy
If you’re artistically inclined, aspiring in art, or bursting with creativity, Etsy offers a platform to expand your audience beyond local markets at minimal setup costs. While selling on Etsy demands effort in product photography, listings, store maintenance, and customer interaction, the potential earnings can surpass those from selling solely on a personal website. Items like handmade products, digital prints, jewelry, and paintings are viable options for Etsy sales.
Guidelines on starting your Etsy venture are available on the platform. Despite associated listing fees, Etsy grants access to a broader customer base from the comforts of your home. From college students to stay-at-home parents to corporate professionals with creative flair, Etsy provides earning opportunities for all. Your income hinges on the product type, pricing, and operational costs.
7. Manage Social Media Accounts
Whether you’re currently a social media manager professionally or possess social media expertise as a hobby, freelancing as a social media manager is lucrative. Clients seek social media specialists to outsource their social media strategy and execution, including digital marketing and product promotions through platforms like Facebook. Identify your target client base, foster connections, set your rates, and potentially secure freelance roles via job boards.
Your passion for social media can translate into additional monthly income, influenced by your pricing strategies and workload. According to Upwork, freelance social media managers typically charge $14 to $35 per hour.
8. Complete Online Surveys
Engaging in online surveys presents an uncomplicated method to earn money sans expertise. Websites reward individuals for answering questions on various subjects. Platforms like BrandedSurveys, Google Online Rewards, and Survey Junkie offer these opportunities.
Participating in online surveys in your spare time can bolster your income from home. According to ZipRecruiter, the average compensation for online survey participation stands at $31 per hour.
9. Thrift Your Clothes or Household Items
Selling clothing, household items, toys, and furniture can yield extra monthly income. You can vend these items online or at thrift stores to benefit others or repurpose used items for resale. Thrifting, often a hobby, can evolve into a profitable venture with practice. Commence with a smartphone camera, hone your photography skills, list items online, or engage with local consignment stores.
Earnings from thrifting hinge on the item types and frequency of transactions. Revamped furniture, for instance, fetches more profit than vintage apparel. Sift through thrift stores to uncover hidden gems for resale on platforms like eBay.
10. Create an Online Course
For experts in specific fields seeking to monetize their expertise, developing an online course offers a lucrative income-generating avenue. Despite requiring substantial upfront effort compared to other options, online courses can yield passive long-term income. Select a course topic, outline, develop content, decide on a hosting platform like Skillshare or Udemy, and focus on marketing to drive course enrollment.
According to onlinecoursehost.com, selling online courses can garner annual earnings ranging from $1,000 to $100,00. Revenue varies depending on course pricing, traffic, and enrollment conversion rates.
11. Take Up Tutoring
Leverage your teaching expertise or specialized knowledge as a tutor for an efficient income-generating opportunity. Connect with local schools, explore job boards, or seek online tutoring positions through platforms like Tutor.com or Brainfuse. Preparation for tutoring sessions may involve upfront work based on the individual’s needs.
Tutor compensation factors in qualifications, experience, subject specialization, student age group, and session format (virtual or in-person). Based on Indeed, the average hourly tutoring rate in the United States is $23.72.
12. Teach a Fitness Class
Looking to enhance your well-being while supplementing your income? Consider instructing a fitness class. Certifications and training, such as the 200-hour yoga teacher training or NASM-CPT for personal training, may be prerequisites for certain fitness classes. Compensation can vary based on the class type, payment structure, and location.
Per ZipRecruiter, the national average hourly rate for group fitness instructors is $25.
13. Deliver Food
For individuals with reliable transportation seeking a straightforward side hustle, food delivery can help earn an extra $1,000 monthly. Opt for delivery services like Instacart or DoorDash by adhering to their application requirements. Delivery drivers typically earn an hourly rate, excluding tips.
As per Salary.com, food delivery drivers make an average of $24 per hour. To hit the $1,000 mark monthly before taxes, around 41.5 hours of work are needed. With approximately four weeks per month, this equates to 10 to 11 hours per week, distributed evenly across seven days.
14. Focus on Creating Content
If you already engage in content creation on social media, consider monetizing your efforts. Transforming into a content creator can evolve from a hobby to a profitable side hustle. Building an engaged audience is pivotal, irrespective of your niche or platform choice.
As a content creator, start with lower rates and gradually elevate them as your audience expands. Collaborations with brands and potential partnerships hinge on your content’s resonance with the target audience. Rates vary based on audience growth and engagement.
15. Host Your Home
Those with spare room availability can earn by listing their space on rental platforms like Airbnb, VRBO, or Homestay. Renting out an entire home garners higher income potential. Rental platforms typically offer guides for new hosts.
According to Earnest, Airbnb hosts earn an average of $924 monthly. Factors influencing earnings include property size, hosting frequency, cleaning or maintenance costs, and platform fees.
When pursuing additional monthly income, opt for work that you find enjoyable as it fuels sustained commitment. It should feel less like work and more like a paid hobby. Moreover, you need not confine yourself to a single income source; mix and match from the ideas mentioned here to achieve a cumulative extra $1,000 monthly.
You could write on a topic and repurpose the content, or create an online course about hosting accommodation on Airbnb. This list merely scratches the surface. Numerous other avenues exist to boost monthly earnings, such as bartending, boutique attendants, or event staffing. Embrace creativity; there are virtually no limits to what you can achieve with determination.
