In today’s economic climate, everyone could use a little extra money to go towards paying off debt or affording their basic necessities. While there are plenty of earning opportunities online, the problem is that very few of these will actually provide us with the income necessary to put a dent in our expenses. What people need are realistic ideas on how they can begin to bring in real revenue. So, if you are tired of being pitched ideas that only make you dollars and cents, here are five ways to make $1,000 this month.
1. Start Building Passive Income Streams that Pay you over time
When you work, you earn a certain amount of money in return for your efforts. But what if you could earn money without having to perform a job or function? Setting up passive income streams will allow your money to work for you rather than the other way around.
There are generally two types of passive income models: those that require an investment of time and those that require an investment of money (with the latter often being preferable). With the right investments, you can begin earning a certain percentage of your money on a regular basis, growing your wealth over time.
A great way to get started making money through passive income investments is by turning to a reputable company like Yieldstreet. Through Yieldstreet, you can build your own alternative investment portfolio hyper-focused on income generation. Whether you are looking to invest in real estate, marine property, or even art, Yieldstreet gives you the ability to choose from a wide variety of assets backed by collateral, earning interest safely on your investments over time.
While you will need to invest money to make money through this method, it can be a great first step in helping you to build your wealth without tackling the work required to maintain active workstreams.
2. Leverage your Graphic Design Skills to your Advantage
Graphic design skills are always in-demand and provide you with a host of potential earning opportunities right at your fingertips. If you have a portfolio and experience to back you up, consider listing your services online or pitching local businesses to begin finding clients who need help designing their website or advertising campaigns, for example. With talent, passion, and patience, this is one excellent way to earn additional monthly income alongside your regular 9-to-5 job
3. Help Others with their Marketing Needs
Marketing is such a large industry that those who are skilled in certain areas can almost always get their foot in the door. Whether this means becoming a freelance writer to boost traffic to a client’s website, helping clients run their social media, and create exciting videos that promote their products or services or even optimizing Facebook Ads and Google Ads for clients, there are numerous ways to monetize your skills. If you hustle enough and differentiate yourself from other talents, this is another lucrative line of work that you can do on the side.
4. Find an in-Person Side Hustle
While in-person side hustles have taken a hit as a result of the pandemic, these are still potential options to pursue (while following safety guidelines, of course). Certain services like dog walking and child care are still in demand. If you can find ways to practice these safely, these types of gigs can easily earn you $1,000 each month (or more if you raise your rates and provide more value to clients). So, while physical side hustles are not considered to be as valuable as they were before, don’t count them out just yet, especially if you already have the experience to beat out the competition
5. Use your Coding Know-How to Help Less Tech-Savvy Business Owners
Understanding the language that powers technology is a skill that can make a lot of money. Whether people are looking for front-end developers, back-end developers, or mobile developers, there is almost always a need for those who are capable of coding well. While this may be a more competitive side hustle than other options on this list, there is no arguing that it is lucrative if you can land some gigs throughout the month.
6. Effectively utilize the unused property
If you have unused land on your property, there are opportunities for you to profit from it. One example is the cell tower lease. Due to technological advancements and growth in the cellular network, there will be a need for more cell towers across the country. In the case that a wireless carrier finds your land suitable for cell tower installation, you can sign a contract and receive a lump-sum payment. This is called the cell tower lease buyout, and it’s a great option if you require immediate cash.
As you can see from the above, there are plenty of ways to make a substantial amount of money without going to get another job. If you want to make an extra $1,000 this month (and are willing to invest time or money), use the ideas above to get inspired and find your next income-generating project.