You might be wondering how to make 10k per month. With this amount of money you might be capable of quitting your day job, traveling the globe, purchasing your first home, or just padding your savings account.
It won't exactly be easy, but it's certainly possible.
In this post we'll explore how to make 10k a month, the best ways to make 10k online, how hard it is to make $10,000 a month, and more. Let's get started.
12 Ways to Make 10k a Month
Below are some of the best ways you can start making 10k a month or more.
Start a Blog to Make 10k a Month
Blogging is by no means a get rich quick scheme – but it's possible to make over $10,000 a month with the right strategy.
If you're looking for ways to make 10,000 per month online – blogging is one of the best methods to make money.
When you start a blog, you'll want to have a few concepts nailed down such as: what is the niche of your blog, how will your blog make money, and how much time will you spend working on your blog.
How you answer these questions will help you to determine how long it will take you to reach 10k a month.
For those willing to put in a significant amount of time (and sometimes money!) you can grow your income much quicker than those who view their website as a hobby.
When getting started you'll want to determine how you will acquire traffic for your website – one of the essential factors of your income capabilities.
There are a few main sources of traffic including: SEO (Google), Pinterest, Referral, Email, Social Media, and Direct.
While each of these traffic sources has their own benefits and drawbacks, I'd work on focusing on one or two when starting your blog. For 99% of bloggers this is SEO or Pinterest traffic. These sources have the largest base of users therefore offering the most potential traffic for your blog.
Once your blog has started, you'll need to determine how you will make money. For most bloggers, it's usually through a combination of display advertising, affiliate links, and sponsored posts.
Depending on the number of users and pageviews your website gets, it's possible to make over $2,000 per month from display advertising alone. Affiliate marketing will often exceed this but it depends on the type of posts and the quality of your audience.
Earning 10k a month blogging is certainly possible, but it will take some time and knowledge to reach your goals.
Become a Freelancer to Make $10,000 a Month
Freelancing can be quite lucrative and a great method to increase your income and make $10k a month or more.
Depending on the type of freelancing you do, you can easily grow your earnings to over $10,000 per month.
Freelance work is typically paid on a per job basis. This means the faster you can complete a job, the higher the income potential you'll have. By becoming more efficient with your time, you can score a quick boost of income.
But that's not it.
Depending on the amount and type of work you have, you could consider hiring a less experienced candidate capable of doing the grunt work for you. This will allow you to output more work while still being profitable.
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Freelance work can be difficult in some aspects. Some people will use freelance jobs to escape their 9 to 5 job but instead of having just one “boss” they end up having multiple.
If you're looking into freelance work, it's wise to set boundaries with your clients so they understand your expectations.
There are many types of freelance jobs you can consider for almost every skill. From writing to programming or even SEO consulting, your options are almost limitless – as is your ability to get paid.
Here are a few common freelance skills that are in demand:
- Accounting and Bookkeeping
- Graphic design
Your skills will determine your pay as a freelancer. For example, those able to create compelling and unique articles can make much more than a beginner writer.
Before you can sell your services to clients, you'll need to establish a portfolio of work. This might mean you'll end up working for free in the beginning stages of your journey.
Invest to Make 10k a Month
Investing can be an excellent method to make $10k a month if you have some capital to deploy upfront. There are many methods of investing you can take advantage of including investing in stocks, real estate, small businesses, cryptocurrency, and more. We'll explore some of these below!
To better understand how much money you can make investing, let's do some math.
If your goal is to make an extra 10k per month let's take a look at investing in the stock market. Assuming a 7% annual return or .58% per month, you would need to invest around $1.72 million to reach your goal. Okay so this is pretty unrealistic. But that doesn't mean you shouldn't take advantage. By making consistent contributions into your investment accounts, you can slowly build your way to 10k per month.
But the stock market isn't the only way to invest.
You might also consider investing in cryptocurrency. While I personally don't see it as an investment – many people do.
This teenager turned his $1,000 into $4.5 million by purchasing bitcoin.
Cryptocurrencies are very speculative in nature and tend to fluctuate in price daily anywhere from 2% to over 15%. If you choose to invest in cryptocurrencies (or any investment) – make sure you can afford to lose your money.
If you're interested in purchasing Bitcoin or other cryptocurrencies, I recommend using Coinbase to get started. It is super simple to use and you can get started for less than $5.
Because cryptocurrencies fluctuate in value it's possible to make $10k per month.
What about real estate?
Real estate also provides an opportunity to grow your money and earn $10,000 per month. Similar to other investments, it's going to take some money to get started if you want to make serious money.
One method to do this is through owning rental properties. It's possible to find rental properties that cash flow thousands of dollars each month.
For example, if you are capable of purchasing a quadplex in which each door rents for $1,000 per month but your mortgage and expenses amount to $2,000 per month you could make a profit of $2,000 monthly. Multiple this times 5 and you'll be earning $10k per month.
Make Money Each Month with Affiliate Marketing
Affiliate marketing is an easy way to earn passive income with the potential to make thousands of dollars each month online.
What exactly is affiliate marketing?
In simplest terms, affiliate marketing is the process in which you are compensated for facilitating a transaction. For example, perhaps you have a YouTube channel that is focused on plumbing techniques and tips. If you post a video recommending a specific piece of plumbing equipment, you could partner with the company that produces the item and get a portion of the proceeds for each sale.
There are many methods you can use to make money with affiliate marketing including social media, YouTube, or a website. We'll explore some of the best ways to make money with affiliate marketing and some of the most common affiliate platforms below.
Related: Make $10 a Day Online
Social Media Accounts
Social media accounts are an extremely common way to make money with affiliate marketing. Between Facebook, Twitter, Instagram, a YouTube channel, and other rising social media platforms, there is no shortage or opportunity.
By posting affiliate links on your accounts, you can earn a commission for each sale that occurs through your link.
For those with large established followings this could be the easiest way to earn $10,000 a month. Because social media accounts are free to start – there's no reason not to give it a shot.
While YouTube channels are technically a form of social media, I believe they deserve a category of their own. Because the content is video based, this provides an even better way to make money online through affiliate links.
By creating review and comparison videos, you can easily promote your links in the video description and comments to increase your sales and earnings.
Blog or Website
Affiliate links are often plastered on many websites and blogs – and for good reason. They are one of the most effective ways to earn money online for webmasters. They allow bloggers to get paid for their hard work writing great content.
Pick Up a Few Side Hustles
Using a side hustle like driving working as a delivery driver or a ride hailing service can give you a short boost of income to help you make 10k a month.
Getting paid for your services like driving as a delivery driver is a perfect way to increase your monthly earnings on your journey to $10,000.
While side hustles alone might not make 10k each month, you could easily make an additional $1,000 for your time.
Some of my favorite side hustles include:
- Flipping furniture
- Domain flipping
- Taking surveys online
- Selling candles
- Flea market flipping
Some side hustles will pay more than others. For example, taking surveys online certainly won't pay you thousands per month however, it is possible to to reach six figures flipping items from a flea market.
Start a Local Business
One of my favorite ways to make 10k a month is by starting a local service business. These businesses often get overlooked because they aren't as sexy as other options.
Many small service-based businesses do not require special skills or knowledge to get started and can turn into a full time job.
Start by outlining the services you can offer and set a price for them. This will vary depending on the type of services you offer. Most service-based businesses will price their work depending on the number of hours the job will take to complete.
When starting a business you'll need to be capable of selling your services to attract new customers. You'll want to learn how to sell effectively to better your conversion rates and increase sales for your business.
Sell Products via E-commerce Sites
Selling products via e-commerce sites is one of the best ways to make money online because there are so many potential options.
For example, some entrepreneurs might choose to sell via Amazon FBA. This process involves having Amazon fulfill and ship products for you – for a small fee. You ship your items directly to Amazon and they will ship them to your customers doorstep.
There are many entrepreneurs who have made six figures each month with Amazon FBA. Check out the video below to learn how to start an Amazon FBA business.
But it doesn't stop there. You can also opt to start your own e-commerce website or online store and sell products directly to customers to start making money. This comes with larger profit margins but you'll need to have the skills to build your website and acquire new customers. By creating an online store you can grow your income and earn thousands per month online.
When you sell a product through an online store of your own, you'll need to think through the logistics of your business. You might want to learn the most affordable shipping options or payment processing venders to lower your expenses.
You'll also want to consider your time spent fulfilling orders. Your time is not free so you'll want to keep track of the hours you're working to see if your business is still profitable.
Marketing will play an essential role in growing your sales online. You'll want to think of some ideas to connect with potential customers and expand your business.
Ask for a Raise
While it's likely that asking for a raise won't net you an extra $10,000 per month, it's one way to boost your income on your journey.
Asking for a raise is a simple and free way to possibly increase your income every single month doing the same job.
When asking for a raise be sure to justify your pay with any numbers or performance metrics you have.
You'll want to visualize your skills and explain the value you provide to the company you work for.
Similar to asking for a raise, switching jobs can be an alternative way to get access to more cash every month through your 9 to 5.
If you currently work in a low-paying job or career, you might consider switching to something more lucrative.
Sell Digital Courses Online
Another way that bloggers and website owners can profit from their digital real estate is by selling courses.
You'll want to match your audience with the course you aim to create. For example, if your following is dedicated to health and fitness, you might consider creating a course that focuses on helping others get in shape and eat healthy.
Depending on the complexity of your course you might be capable of selling it for a few hundred dollars per purchase.
You can sell your course over and over to make money every month.
Another benefit – you don't necessarily need an established audience to get started. Instead, you might consider running Facebook ads to attract potential customers. While Facebook ads can be expensive, they can still be profitable for your business and drastically increase your sales.
Rent Out Things You Own
There are many items you can rent out to make some extra cash every month. From renting out an extra room in your home to renting out a lawnmower, try to gather any items that regularly go unused and try to rent them out online.
A simple post on Craigslist or Facebook Marketplace should do the trick. You can choose to rent your items per day or per hour depending on the type of item you have.
Publish a Book
Publishing a book can be scary but with todays access to free tools and the ability to self-publish your book there's no better time.
Book sales can be an excellent method to generate passive income each month.
Apart from being a seasoned writer, you'll need to know how to market your book to get sales and build your income stream.
Check out the video below to learn how to self publish a book!
How Hard is Making 10k a Month?
Making 10k a month won't be easy. It will take dedication, time, and a solid strategy to reach your goal.
By combining a few of the ideas above you can expedite your journey and reach your goal faster.
The majority of people will never make $10,000 a month making it a significant accomplishment for anyone.
Tips to Make $10,000 a Month
Below are a few tips to help you make $10,000 a month whether you're starting a business or selling via Amazon FBA.
Create a Plan
The first step on your journey to make $10k a month is crafting a plan to get there. This plan should include various income sources you plan to use and how you will make money with them.
For example, if you plan to start a blog to make $10,000 a month, outline a plan of how you will get there. What will your blog be about? How will you monetize your blog? How much content will you need to create?
Give it Time
As the old saying goes “You can't build Rome in a day” and the same goes for making 10k a month. You'll need ti give yourself some time to start generating income.
If you plan to purchase money making assets like a rental property, this can take a few months to over a year to start generating a serious income.
After a month of implementing your new income tactics, you'll want to take a step back and analyze your performance. Did you meet your income goals? Are there certain areas where you fell short?
By analyzing your performance, you can make changes and adapt to start earning more.
Final Thoughts on How to Make 10k a Month
By using several of these methods to make money, you can increase your income and learn how to make 10k a month or more.
Whether you choose to complete freelance writing jobs , start a business, or sell products online, making 10k each month will take time to develop. There are no get rich quick schemes to making this amount of money. You'll need to put in the work and be disciplined to accomplish your goal.
Many people will think you are crazy but it is well worth your time!