I include this section because, as a college student, I made the mistake of spending way too much money on courses that claimed they would help me make extra money. I’m not saying that the courses were giving bad advice, but rather that I made the mistake of falling for the allure of extra income without wanting to put in the work required to get it.
That’s what the rest of this guide is for. 26 Ways to Make an Extra $1,000 a Month Ready to stop dreaming and start earning? Below, you’ll find 26 ways you can actually make an extra $1,000 per month. None of these require expensive equipment, high startup costs, or even a degree (how to earn money online while sitting at home).
Freelance Writing, I’m going to start with a method that’s near and dear to my heart. Freelance writing was the first way I started making serious money when I was in college, and I still think it’s a great thing to try if you have writing skills. There are a ton of companies out there that need written content, including blog posts, video scripts, website copy, and more.
This is a great opportunity for anyone with web development skills to make some serious money. But what if I don’t know how to make a website? Just read our guide, and now you have no excuses. Combine that with a few web development tutorials on Skillshare, and you’ll have all the skills you need to build beautiful, functional websites for just about anyone.
Audio Transcription, Voice recognition technology is getting better every day, but it still isn’t great at transcribing real human speech. how to earn money online at home in usa. For this reason, there’s a demand for skilled audio transcriptionists. Audio-what-tionists? When transcribing audio, all you do is listen to a recording and turn it into a word document. All kinds of companies and people need this service, and they’re willing to pay.
The guy was pretty wealthy, but knew nothing about computers.)You can choose to charge per hour or per project — whichever makes more sense. If you’re willing to take some time and spend a bit of money to get an A+ Certification, you may be able to charge even more.
Investing Your Money, I’ll state this upfront: Compared to every other method on this list, investing will take by far the longest amount of time to make you an extra $1,000 a month. Still, you should seriously consider investing as early as you possibly can. Here’s why: Every other method here requires you to essentially trade hours for dollars; investing allows you to sit back as the money you have invested grows due to compound interest.
Here’s a simple calculation: If you’re 25 now and you invest just $200 a month for the next 30 years at a 7% rate of return (which is reasonable to expect over the long term), by the time you’re 55 you’ll have a bit over – even though you only invested a total of $72,000 of your hard-earned money.
And that’s assuming you never increase your monthly investment as you get further into your career; do that (as most smart investors do) – and get started as early as possible to reap the benefits of compound interest year after year – and you can retire with millions. how to earn money online legit. Here’s another calculation, this time looking at what it would take to be able to pull $1,000 a month out of your retirement savings every month for 30 years: Again, assuming you never increase your contribution (which is unlikely), you still only need to save $316 a month assuming you start when you’re 25.
While you can learn and optimize later, these three rules are really all you need to get started. As for where to start, is a great option; their fees are low, there’s no minimum starting investment (you could throw in $50 now and set up a $25 monthly auto-investment to start), and they adjust your investments based on your goals.
That being said, this probably isn’t the best way to consistently make extra money. To do that, you need to branch beyond selling your stuff and into selling other people’s. Retail Arbitrage, Retail-what? So it’s a fancy business term, but all it means is going to stores like Wal-Mart, Target, or even a thrift store and finding items that you can re-sell online for a profit.
Now, be warned — if you do this wrong, you can lose a bunch of money and waste a lot of time. You have to be smart about what you buy, which generally means using a tool like the Amazon Seller app (Android i, OS) to calculate your potential profit.