The Best Ways to Make an Extra $5000 Per Month
Imagine how cool it would be to make an extra $5000 a month!
For most parts of the world, that is a pretty amazing monthly income and is well over the US average which is around $4000 a month at the time of writing this.
Yes, in most cases you’ll need to pay tax on your $5000, but you can almost certainly live a comfortable life in pretty much any state in the US with that kind of income.
Historically, to earn this type of income you probably needed to do one of the following:-
- Go to college to gain qualifications and then enter a well paid job (all whilst amassing a ton of student debt);
- Start your own business which often meant taking out hefty business loans and injecting huge capital;
- Working your way up the greasy pole over the years in a boring 9-5 job (i.e. starting at the bottom and working up).
Thankfully, in the early 90’s, along came the internet and everything changed forever.
Fast forward 30 years and here we are!
Super fast broadband, masses of online business opportunities and no need for huge capital injections to start making money fairly rapidly.
Simply put, there’s never been a better time to start making money from home.
$5000 a month isn’t actually that difficult to achieve if you put your mind to it and take action today!
Yes, I am serious – start today!
Start now even!
As soon as you take action by, say, jotting down a few notes from my suggestions below, you’ve already done more than 90% of other people who will end up tied to their 9-5 job until they die or retire!
Yes, it’s not super easy to make $5k a month – and definitely avoid the get rich schemes you come across (they’re all over the internet).
Truth be told, you’re probably not even going to start making $5k a month within a month or two, but I can still think of literally hundreds of people I know who started making $5000 a month in their first year of working at home.
So there’s still a lot to be optimistic and excited about! Trust me – I am not just being hyperbolic when I say $5k a month is within your grasp!
This blog started making $2k a month within 6 months and that was with me working around 5-10 hours a week on it max! Imagine what can be achieved with 40 hours+ committed each week.
So, without further ado, let’s check out a few ideas to get the ol’ grey matter engaged! Let’s check out –
8 Ways To Make $5000 Extra Per Month Online
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Set Up a Health and Fitness Blog
Why this Topic?
Health and fitness is a great niche to go into if you want to start a blog!
Well making money blogging is all about getting eyes on the content you write.
Without readers you’re going to make very little as you need your readers to buy your products, to see your ads and to sign up to your affiliates!
Some people will tell you to blog about your passions.
But this is not always the best advice.
What if your passion is learning about wood eating insects. I mean how many people out there are passionate about that? Not many is the answer!
No people sharing your passion = no readers landing on your blog = no income!
That’s why niche is so important when it comes to blogging.
You need to choose something that’s got a sizeable audience ready and waiting for you to hit the blogging world!
Health and fitness has a huge audience and there’s literally thousands of things to write about!
It’s a niche that I know for a fact works. It does well not only on Google but on Pinterest as well, which is where I recommend you attempt to get traffic from.
Do I Need to be an Expert?
It’s always helpful to have some knowledge about the topic you blog about but that certainly doesn’t mean you have to be an expert!
I know of many bloggers who are not experts in their particular niches. They have no qualifications whatsoever but they still make a lot of money from their blogs.
There’s almost no 100% original content on the internet (i.e. content where no one has written about it before).
There are millions of blogs and pages of information on the internet, so what ever you write about is bound to have been written about before.
That’s pretty much the case for anyone, unless you’re writing a study on a completely novel scientific idea for example, or you’re the first to write about an event that’s just happened or a new product that’s just launched.
Blogging is more about putting your own spin on things and working hard to get your content in front of people.
If you can do that, then you can make a success of it!
How to Make Money
Blogs make money in a few different ways but here’s a few examples in the health and fitness niche:-
✔ Affiliate marketing – This is where you sell other peoples products for a commission. In this niche it might be things like weight loss pills, diet plans, work out videos or gym gear.
✔ Sell products – This can be things like weight loss programs, diet plans, work out regimes etc…
✔ Display ads – This is where you place adverts on your blog and you are paid usually by the number of people who see them. I get paid around $25 for every 1000 people who see my ads per day.
For inspiration, I would check out Avocadu.com run by Alex and Lauren.
They set up that blog about 5 years ago to write about health and fitness and started making $10,000 within their first year – mainly through ads and selling their own weight loss course.
How to Start a Blog
There are a few free blogging platforms out there like blogger for example but if you’re serious about making money you want to use “WordPress.org” as your platform.
WordPress.org is a place where you can build your blog and it’s extremely customizable, fast and secure!
I would strongly recommend not using free options like Blogger or Wix as you will only regret it later. This is crucial advice!
WordPress.org blogs require hosting (i.e. somewhere for your blog to live on the internet and to be accessed from).
For your hosting, as a beginner, I would use BlueHost which can be purchased for only $3.95 a month. They also have a 30 day money back guarantee.
BlueHost is my recommendation because:-
Start a Proofreading Business
What’s This Business?
Proofreading is the the process of checking documents for errors before they are published.
You’ll be looking for things like spelling, grammar, punctuation and formatting errors.
You might be working for bloggers, newspapers, magazines or publishing houses checking their documents before they are formally published.
Do I Need a Degree?
It is helpful to have some English or journalism type qualifications but it is not essential.
Proofreading is a great opportunity because it is so accessible and pretty much anyone with a keen eye for detail can do it.
Even if you haven’t got the keenest eye, you can still learn this skill.
Learning a new skill can take time and that can often be the reason why people decide not to take action and try something new.
One of the best ways to jump this hurdle is to fast track your knowledge by learning from others who have already mastered the skill you want to learn.
💡 Studies have shown that people who take courses when learning a new skill have a 90% higher success rate than those who try and teach themselves!
Further still, by taking a course you’re likely to learn that new skill around three times faster.
If you’re interested in proofreading, then I would strongly recommend Caitlin Pyle’s “Proofread Anywhere Course“.
Caitlin started her own freelance proofreading business in around 2013 earned $43,000 in her first year working part time.
She now teaches other prospective proofreaders:-
- How to proofread professionally
- How to get clients
- How to build a profitable proofreading business
She now turns over $3m a year from her proofreading business.
If you’re interested in learning more then check out Cailtin’s 76 minute proofreading workshop to see if proofreading is for you.
Facebook Online Marketer
Facebook marketers help businesses use Facebook to bring in new clients and new customers.
Facebook is now one of the largest markets in the world when it comes to attracting new business.
With approaching 3 billion users, it’s not hard to see why Facebook marketing is absolutely huge.
What You’ll Do
The main way to market on Facebook is to use Facebook ads.
The problem with Facebook ads is they are expensive and are kind of difficult to get the best out of unless you know what you’re doing.
And that’s where Facebook marketers come in.
As a Facebook marketer you’ll use your skills with Facebook ads to reach their full potential so you can market your clients’ products and/or services in a way that’s going to bring them the most business.
This will meaning knowing how to set up Facebook marketing campaigns, knowing how to target the correct demographics and knowing how to reach the widest audience.
If you can learn these skills, then you’ve just become a very useful commodity to any business looking to bring in new customers.
Learning Facebook Marketing
You can pick up Facebook marketing on your own and there’s plenty of guides out there to show you how.
However, to get up to speed quicker, I would recommend Bobby Hoyt’s Facebook Side Hustle Course which will teach you how to set up ads, how to find clients and how to get clients on board with your services.
How You’ll Make Money
Let’s say you’ve got a client who builds websites but he hasn’t got the time to advertise his services.
So, he pays you to do his advertising for him and either pays you a fixed rate or a commission depending on the business you bring in.
Let’s say he pays you a commission of 10%.
If you can bring that client 15 customers all paying $1000 for a website to be built, then he’s going to be pretty stoked as you’ve just made him $15,000 (less expenses) and you’ve just earned yourself $1500.
It doesn’t take a genius to see how profitable this business can be.
If you can amass just 5 – 10 regular clients who you market for, then it’s quite easy to see how you can be earning a very respectable income.
Be An Online Freelancer
The internet means you can offer your services on a freelance basis much easier these days and there’s a huge online community ready and waiting to take you on.
I regularly hire freelance writers to write the blogs I run and they charge around $50-$100 per 1500 words, so it’s easy to see how you can quite easily make a living from freelance writing.
I can usually write around 1500 words in half a working day including research, so it’s not hard to see how a professional freelancer could do 3000 words in a day = up to $200 a day.
Writing is obviously not the only service you can offer as a freelancer and there are many other services if writing isn’t your thing. These might include:-
- Web designing
- Graphic designing
- Computer programming
- Virtual asssitance
I am aware that all of these freelance services have the potential to get to that magical $5000 a month mark.
Where To Get Freelance Gigs
It shouldn’t be that difficult to find freelance gigs as there’s now a ton of premium websites available for you to advertise your services on.
My favourites are:-
- Upwork – For all manner of freelance gigs
- Problogger – Mainly for writing jobs
- FlexJobs – For all manner of remote gigs
- Freelancer – For all manner of freelance gigs
- Guru– For all manner of freelance gigs
- TaskRabbit – For small gigs
- Fiverr – For all manner of freelance gigs
Another really great way to get clients is to use email outreach.
I didn’t actually search for the writer I use to write blog posts for me. They got in contact via email and I agreed to use them after seeing some samples of their work.
If you are planning on attracting clients through email outreach, remember to personalize the emails you send. There’s nothing worse than receiving a generic email that’s been mass mailed to a million people/businesses.
So, customize your outreach emails and make sure you have some knowledge of the business you’re approaching. This will look infinitely better than a generic email.
How Much Can You Earn
Your earnings will much depend on the amount of clients you can attract and the technicalities of the work required.
For example, a freelance computer programmer is likely to earn a lot more than a freelance proofreader.
As above, I have the most experience with using freelance writers and according to Zip Recruiter the average salary of a freelance writer in the USA was $63,488pa in 2019.
This hits the $5000 per month mark.
Become an Amazon Associate
Amazon Associates is Amazon’s own affiliate program where you can earn commissions for referring people who go on to purchase something from Amazon.
So, for example – I might own a website reviewing TV’s.
I put an affiliate link up on my website to a TV being sold on Amazon. A person comes along and reads my TV review, clicks the Amazon link and then purchases that TV on Amazon.
When the purchase is made, I would make a commission which is based on a percentage of the type of goods being sold.
You can see the amount of commissions paid for each type of goods here.
The thing I love about Amazon Associates is that even if the person you refer to Amazon doesn’t buy the product you linked to, but instead they buy something else, you still get the commission.
How to Promote Your Amazon Links
There are numerous ways you can promote your Amazon links to build up your commissions but the most popular ones are through a blog or a niche site.
A niche site is a website that is focused on answering people’s queries on a very specific topic.
An example might be a niche site focused on mobile phones where you review the various new phones that come onto the market and link to them on Amazon in a bid to earn that commission.
A blog is a bit different in that it’s normally a bit more general and normally more personable than a niche site.
Traditionally, a blog is more about building an audience by collecting subscribers and trying to encourage a following where your readers come back to keep reading your new material.
A niche site is less about building an audience but more about answering a question when someone searches for it on Google.
However, the lines between niche sites and blogs become more blurred all the time as they’re both doing the same thing when it comes to affiliate marketing which is providing information on a product/service that people are searching for.
Below, you can click to read my 5000 word guide on how to set up a blog. Although this post deals with setting up a blog, the same principles apply to setting up a niche site.
Best Tips for Amazon Associates
I would recommend doing the following if you want to succeed with Amazon Associates:-
- Set up a blog or niche to promote your links.
- Identify a niche that isn’t too competitive.
- Your options for a niche to focus on are endless. It can literally be anything that Amazon sells.
- Niche down (i.e. avoid promoting many different products in different niches on your website/blog).
- Once you start making money, if you can afford it, reinvest the money earned into new content by using a ghost writer to write for you.
- Try and create an encyclopedia of content. More content generally means more money. But remember this only applies if your content is good quality.
- Focus on good keyword research. This means looking for the search terms people are putting into Google to find information. This is crucial. If no one is searching for the query your content answers, you’re not going have enough readers to make any money!
Sell Custom Made Products
There is a massive market out there for customized products.
This could mean making customized novelty or gift items like mugs, key-rings, jewellery or pens.
It could also mean creating your own designs to place on clothing like on t-shirt, sweaters or headgear.
Where to Sell Your Products
There are now all-in-one solutions if you want to make your own products where the company not only prints/manufacturers your customized products, but they also send them out to your customers as well once you’ve made a sale.
Companies like Printify will do this for you and it even integrates with Shopify, Etsy, eBay and more so you can sell your products on those platforms.
The process is really straight forward. Simply:-
- Pick your product
- Apply your design to the products using an online mock up tool (i.e. so you can see what your design looks like before manufacturing)
- Get some samples in to check the quality and that they look, perform, feel as you intended
- Market your products yourself or through online seller platforms like Shopify, Etsy or eBay
- Let Printify manufacture, package and ship your products to your customers when you generate a sale.
The sky really is the limit when it comes to custom designing.
If you can make amazing, well designed popular products then you can make well in excess of $5000 a month with this business.
Providing you can create popular designs and market your goods, then you can make a killing.
Sell Online Courses
You can buy courses for pretty much anything you want to learn.
I have even seen courses on how to rid your driveway of moss.
This means there is a massive opportunity to make money as almost everyone is knowledgeable about something.
You could make courses on:
Options are literally endless.
Where to Host/Make Your Course?
Firstly, courses can be made in numerous ways.
You could make a video course, e-book course, a course in person or interactive course.
Here’s some of the best places to host a course.
- Udemy (video courses)
- Thinkific (online written courses)
- Teachable (online written courses)
The video courses will need video facilities like a camera and microphone but written courses can be made just using a PC and some basic design skills.
How Much Can You Make?
All the most profitable bloggers and online marketers tend to make courses.
Courses are what tend to move their earnings from a few thousand dollars a month to $100k+ a month in some cases.
Lauren and Alex who run the blogs Avocadu and Create and Go are the best examples of this.
Their first blog Avocadu (a health blog) was making a few thousand dollars a month at first, but this multiplied into $10k – $20k a month when they created and sold their first weight loss course.
Off the back of that success, they made their Create and Go blog, which teaches new bloggers how to do the same. This makes $200k a month, a large proportion of which is from selling their own blogging and Pinterest courses.
So yes, courses are extremely lucrative once you’ve built an audience to sell them to.
The ways to earn $5000 a month from home grow each day and it’s never been more realistic to start earning that kind of money with a home based business.
They key is to treat any online money making venture like a business from the start.
Successful businesses become so by scaling up.
This means having the ability to grow and keep growing once you see some success but without incurring excessive additional costs.
The great thing is that online businesses like blogging, creating niche sites and online courses can be scaled exponentially and if you can do that, you’ll be on your way to not only making $5000 a month, but potentially much more.
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