A rising tide raises all boats, but not always! In fact, some people’s boats are raised when there is a rise in income because of the investments they made to reach that place.
For example, let’s say you make $20,000 per year and you invest your money in a stock market portfolio with an average investment of $500 per month. You dedicate one full week to managing this fund each month and keep track of it yourself.
After a year, your monthly investing budget is now up to $1,000 and you have still got a strong start from where you began. Due to compounding, your wealth has increased substantially.
However, if someone next to you who makes twice as much invested the same amount every month, their boat rises while yours stays flat. This can be very frustrating especially if you have worked hard to get where you are now.
Fortunately, there are ways to achieve our goal (of being wealthy) even if others don’t. Here are 5 strategies for how to make at least $1,000 per month online without too much effort.
Disclaimer: While these strategies will help you become wealthier, please do your research before investing or changing your spending patterns. Investing carries risk that could cost you everything you own.
Strategy number one – The simple way to earn extra income
This strategy doesn’t require any special skills or expertise beyond writing well.
A great way to make extra money is to start buying and selling products online. There are many ways to do this, from making your own products or offering third party made products as an affiliate marketer to running your own website or shop where you can offer and accept dropships (where you order the product and someone else ships it for you).
By adding all of these things together, you have created multiple income streams that earn you passive income!
There are even sites that will pay you to watch advertisements or videos, which again adds more income to your portfolio. By having several sources of income, this article has shown how you can easily make over $1,000 per month working remotely.
Starting your own business is an incredible way to make big changes in your life. It’s also a great way to earn extra money, particularly if you are already creating content online.
If you have a talent or skill that people would pay to learn, then starting a YouTube channel about it is a perfect way to start earning more money.
You can pick any niche – anything from baking to skateboarding to yoga to fashion to science. The only thing is, you need to know what you're talking about very well!
Your followers will likely be mostly other people, not just yourself, so being familiar with these things is important.
But beyond that, the most successful YouTubers are ones who connect with their audience and develop relationships with them. They chat to them, answer questions they ask, and contribute quality content to make others feel good.
Running a channel like this takes time and effort to produce high-quality videos, but it can easily generate significant income every month.
Starting your own podcast is one of the best, if not the best way to make extra money online. You can pick any genre or topic you like and start talking about it! The beauty of having your own podcast is that you get to choose what content you want to talk about.
You’ll have to do some research first to figure out how to run a successful show, but there are many free resources available (via YouTube and other sites) to help you get started.
By bringing in additional income, you’re already saving at least part of the cost of living each month. Plus, you get to keep all the earnings even when you’re not working.
There are even apps which allow you to create and edit your podcasts within their system.
Starting your own business is one of the best way to make large sums of money. There are many ways to make an income doing this, but most always include creating or offering some type of service or product that people want and then making money off of it.
There are two main types of businesses you can start – ones with products (think Amazon) and services (think freelancers for example). Creating a business out of something is definitely the easier route to take, as you do not need much investment other than time and energy.
Services are great because they are usually easy to start and run on a low cost base, which will eventually bring in revenue. Things like writing are a big service that almost anyone can pick up and offer. People all over the world have made good livings via writing and marketing material.
Profitability varies massively depending on what service/product you choose to go into, but thinking about how to generate profit in the beginning will help get you going. Once you find your niche, stick to it!”
Running your own business has lots of benefits. Not only does it give you control over your work life balance, it also gives you the opportunity to set your own hours, earn more per hour, and reap the rewards of hard work.
But before you dive in, there are 2 things that you must be sure of first.
Being a professional photographer is a great way to make large amounts of money passively. There are many ways to learn how to become a professional photographer, but one of the first things you should do is take some classes. Many schools offer photography courses either through their website or via an online school system like Udemy or Creative Academy.
There are two main reasons why learning to be a pro photographer is a good idea. First, being a professional photographer requires both technical knowledge and artistic talent. Having at least a bachelor’s degree in art or design as well as a masters degree in something related to photography (like photoshop or digital marketing) would put you very close to being a professional.
However, knowing the fundamentals of taking pictures is not enough to get hired as a photojournalist or documentary filmmaker. You will need to showcase your talents beyond just snapping a picture every now and then. This can mean capturing special events, creating commissioned works, or even doing conceptual projects.
Starting your own creative business is a great way to make some extra money while also giving you a sense of satisfaction. There are many ways to start designing or making crafts!
Many people have made a living doing what they love – from creating websites, writing books, painting, sculpting, baking, sewing, taking pictures, and so on.
By offering your services as a professional crafter, you can create an income stream that keeps coming in every day. In fact, with all of those things mentioned before, it is very possible to make enough money to live off of just through selling handmade products!
There are several ways to begin freelancing as a craft artist. You may already do some form of art that could be improved upon or you could learn how to take good pictures or design new looks for clothes or housewares.
The best way to know if you should pursue this career path is by investing in the necessary materials and equipment, learning the basics, and then trying your skill out. If you feel confident in yourself then go forward!
And don’t forget about online shopping! Many vendors will offer discounts and coupons for items that you produce and sell.
Starting your own drop shipping business is one of the best way to make extra money online without too much effort. All you need to do is find products that other companies manufacture but not under their name, and then re-package them or add additional features to them.
There are many sites where you can sell these overpriced or outdated goods at a small fraction of the price. By offering the same product under your brand name, you get all the profits while they get the credit for creating a new product.
The trickiest part about starting a drop shipping business is coming up with good quality brands that people will buy. You don’t want to be known as the guy who sells shoddy merchandise so make sure you pick your suppliers carefully.
Once you have found a source of income that works for you, you will also need to figure out how to market the service. Creating a website full of tempting offers may win some customers, but will probably not generate enough revenue to keep you going.
That is why there is a second step to this method – marketing. Find ways to promote your dropship business through blogs, social media channels and advertising. Perhaps you know someone else who does it and you could learn from them?
By having all three of those things, you have covered most of the bases for success.
Starting your own flower business is one of the best, if not the best, way to make an additional income. There are many ways to run a floral business, so you should check out all of them before picking one that fits you!
Running a florist shop comes with its own set of challenges, but it also offers a lot of opportunities for growth. By offering creative designs, educating yourself about flowers, and keeping up-to-date on cutting edge technology, you’ll never be stuck for ideas when it comes to putting together gifts or decorations.
There are several reasons why running your own floral business can be a good idea. For one, most people enjoy receiving fresh cut flowers, and they are a cost effective gift option. Plus, working from home allows you to work around your schedule, which helps keep your life balanced. It is even possible to have a second job while still being able to spend time with your family due to the nature of the workplace.
But beyond these practical benefits, having your own space gives you control over how well you do your job. You get to choose what colors look good together and what styles appeal to your aesthetic sense, making it easy to match whatever theme you want to convey. Your style can also put you in touch with new trends which help keep you informed as to current fashion.