Top 10 Ways to Make an Extra $1000 a Month in 2020

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Sam Thomas avatar
Sam Thomas September 22, 2020

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Top 10 Ways to Make an Extra $1000 a Month in 2020

As we are all aware by now, the COVID-19 epidemic is wreaking havoc across the globe. Due to social distancing and a lack of demand from the market, companies after companies are verging on bankruptcy, resulting in mass unemployment. In such a tumultuous time, staying financially stable is of the essence.

To this end, we are introducing to you the most applicable 10 ways to make an extra 1000$ a month. Hopefully, they can help you get through the pandemic and make your bank account as safe and sound as your health.

Table of content

1. Start an Online Business

The first thing you can do at the comfort of your home is to start an online business. Let’s say you have a talent for home-made things such as knitting, crafting, sewing, etc. Why don’t you take advantage of that talent and start making money? We recommend using Shopify for your online store. Shopify is one of the most common solutions for small and new startups as it offers a very simple way to create a store without having to learn all the technical aspects necessary to build it.

Registering an account on Shopify is the first step you need to take. Shopify allows you to start with a free 14-day trial first, and you will not even need a credit card to sign up for this.

Next, you may choose your domain, which is the URL connecting to your site, and through which visitors can access your online shop. You can customize your own domain as well, but make sure that it is easy to spell out, short to recall, and relevant to your items.

Once it is done, you can configure your theme store, but to ensure that you have a high-quality shop, do not forget to choose an attractive and smoothly functional theme. You do not want to strike your very first visitors with a boring theme negatively, right? Shopify also provides you with a pre-designed theme, a great number of both free and paid ones are available.

Now, you can start adding your products by manually adding, importing a CSV file, or even find products to sell on Oberlo. With no coding skills needed, Shopify lets you manage stock, administer orders, create a powerful online marketplace and all that takes only a few hours. For any eCommerce out there, this is a great platform to begin.

Start an online business
Start an online business

Read more:

2. Blogging

For those who have a knack for writing, blogging is just the perfect way for you to make extra income. You first need to choose your topics, which can be things that you are an expert in, things that you are passionate about, or things that may inspire others. The beauty of writing is that it can be about whatever you want.

Then, you can start making money out of blogging. It can be from affiliate marketing, which is when you put an affiliate connection in a blog post and attempt to gain money from your networking from people purchasing the product. This can be a good source of income because all you have to do is checking the item if there is an item out there that you enjoy, then people will be interested in buying it as well.

It can also be from displaying advertising on your blog. Display advertising is when you put a banner in the sidebar, below or above your header image, or anywhere else in your blog. Then, you receive a certain amount of money for every click on that banner.

In addition, you can generate revenues from sponsorship. This may be in the form of a supported review, a guest blog post, a sidebar link, a newsletter advertisement, etc. You can receive between $10-$100 a month if you manage to get 1,000 page views a month. But you can make between $1,000 and $10,000 off your blog within a month if you can get 100,000 page views. Just make sure your posts are relevant and you love what you are doing

Blogging
Blogging

Learn more: How to Monetize a Website?

3. Taking Surveys

Answering surveys is yet another great way to get cash. You can start making more money by providing your opinions on a certain topic. It may be a quick survey asking your reviews on this one product, it may also be from you playing a computer game or experiencing a new website for translating, you name it …

The great thing about that is you can use your ideas and views to make a difference, for the better. Survey companies that I suggest as one of the best include: American Consumer Opinion, Survey Junkie; Pinecone Research; Swagbucks Opinion; Outpost …

Taking surveys
Taking surveys

Learn more: Best Online Survey Tools for Your Business

4. Teaching English

Do you know that there are hundreds of thousands of students trying to learn your native language? You can use your mother tongue to make a lucrative income too. It would be a great perk if you are fluent in English. There are businesses willing to pay for $20 per hour for teaching children to speak English, with a minimum commitment of 5 hours a week. Many businesses require their teachers to be native English speakers with an American, Australian, British or Canadian accent. Quite frequently, American and Canadian accents are favored.

If you are interested, I recommend using Cambly. Cambly pays 17 cents USD to their tutors per minute they spend teaching, 10.20 dollars per hour of teaching, which is less than the industry average but considering how flexible the system is, it is not a bad rate. You can log in whenever you are free and wherever you find comfortable instructing others, and there is no set schedule. The students are mostly very nice and are willing to learn. It would be a great way to not only make extra money but also to broaden your horizon about cultures all over the world.

Teaching English
Teaching English

5. Freelancing

Another way to make extra money is freelancing, which is when you earn money through commissions. These jobs can vary from creating website content, editing videos or images, making visualizations, designing a plan for social media, etc. Flexibility and freedom are the best thing about becoming a freelancer. You can not only set your own timetable but also have the free will to say “yes” if you are interested or “no” if you do not like the clients. In reality, the number of people employed as freelancers is projected to rise from 3.9 million Americans in 2016 to 9.2 million by 2021 according to a 2017 report.

All you need to do is: first, decide what you can offer your clients, then determine your target demographic. You may also need an online CV, in which aspect, LinkedIn does best. Next, set your price rate and you are ready for freelancing. You may also want to take into account using a freelance site, such as Freelancer.com to find employment. Although they can pay less than you like, experience, testimonials, and recommendations can be a great way to get it.

Freelancing
Freelancing

6. Selling Old Stuff

There is an old saying “One man’s trash is another man’s treasure”. In case you need money in the fastest way possible and do not have enough time to scale up a Shopify business, you can try selling your old belongings. Odds are you have got some stuff which can earn you an extra $1,000! It may be books, furniture, kitchen tools, clothes, sports equipment, phone cases, etc. You can sell the stuff through Facebook Marketplace, and Facebook Groups or through party bargaining. However, if you choose to do all your sales from home, these apps will help immensely: Decluttr (Good for DVD, video games stuffs, etc); Second Sale (Great for old books); Gazelle (antique electronics!),…

Selling old stuff
Selling old stuff

7. Bookkeeping

If you are an avid accountant or just simply have a lot of passion for numbers, then being a bookkeeper is the perfect job for you. Every company requires monitoring every pent that comes in or goes out of their company. This seems pretty straightforward in principle, but this is clearly not the case in reality. Most forms of entrepreneurs/business owners are exceptional at what they do: furniture making, dental care, flooring-cleaning … etc.

However, when it comes to monitoring their money, most of them are inept. The bookkeeper is the person whom business owners depend on when it comes to handling the numbers, allowing them to concentrate on what they are best at. If a bookkeeper has around 3 to 4 clients, he or she is expected to earn at least 10.000$ a year. This number increases by four times if the number of clients rises to 12-16.

Much like an accountant, lawyer, or consultant, your customer sees you as someone they admire and trustworthy, earning you a lot of respect along the way. It is also awesome to be able to work from home (or wherever you want to). You get to decide when you are working when you are working and with whom you are working.

Bookkeeping
Bookkeeping

8. Start a Youtube Channel

It would be unacceptable if we leave out YouTube when it comes to making money at home. YouTube makes up half the internet. There are around 1.9 billion users logging in every month, but at the same time, 500 hours’ worth of video is uploaded to the site every minute, which means it is very competitive if you want to stand out from the crowd. And while it may seem like it is too late to start a YouTube channel, there is certainly always space for someone who has something special to bring to the world. Some niches seem to go together with video, but frankly speaking, in just about every possible area, people have succeeded in video making!

However, if YouTube still sounds appealing to you, I suggest that you consider an internet content and editing course. People expect high-quality videos, considering there is so much competition out there. But if you do stand out, chances are you will make more than you can imagine in your wildest dreams. With the standard YouTube pay rate for ad views ranging from $0.01 to $0.03, a YouTuber will make around $18 per 1,000 ad views, resulting in $3 to $5 per 1,000 video views. Also, based on typical industry standards, you will earn $1000 if you manage to get half a million views, according to InfluencerMarketingHub

Start a Youtube Channel
Start a Youtube Channel

Learn more:

9. Start a Podcast

Or, you can try podcasting, which is somewhat similar to blogging but is now something that can reach out to pretty much everyone. However, the immediate worry we have when considering podcasting is the equipment and the marketplace to advertise your podcasts.

Well, then you can try out Anchor.fm. It is a phenomenal app that allows you to launch your own podcast and post it directly from your phone onto iTunes.

While podcasts may at first take time and effort, but if you are just in it for support from your audience, it can be financially life-changing. Just like blogging, you can generate revenues from advertising, endorsing, affiliate connection, etc.

Start a Podcast
Start a Podcast

10. Become a Virtual Assistant

Last but not least, you can try out virtual assisting for a quick lucrative income. A virtual assistant is a freelance specialist in administrative matters. He or she provides remote managerial, scientific, or artistic professional assistance. Technically, a virtual assistant should be able to do what the on-site support staff member of an organization is normally able to operate. However, unlike a typical 9-to-5 white-collar worker, virtual assistants are not limited to tedious and repetitive office work.

Many virtual assistants help small companies maintain their blogs and websites, manage their banking transactions or other services. Many virtual assistants operate their businesses in the comfort of their homes.

In fact, accomplished virtual assistants are reported to make $25 or more per hour. At this pace, you will only need to work around 10 hours a week to earn an additional $1000 a month. If it sounds interesting to you, make sure to check out Fiverr, Upwork, or Freelancer.com, to embark on your virtual assistant career.

Become a Virtual Assistant
Become a Virtual Assistant

Conclusion

Just imagine how many things you can accomplish with an extra $1000 a month? You can use that money to pay off your student loans, dress a little bit nicer, get your hair done at a better salon, replace that outdated phone, help your family, make ends meet,…

To this end, right here, we have introduced to you 10 ways to make your dream come true. You can choose what we have suggested, or try other ways (please make sure to tell us about it too). But remember, it would just be a dream if you continue to procrastinate and do not take action. As Martin Luther King, Jr wisely puts it. “You do not have to see the whole staircase, just take the first step.”

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