While it’s not exactly a cinch to stack up $10,000, doing so also isn’t as difficult as you might think. Anyone with the right mindset can motivate themselves to start earning more, whether that’s with a new job, a side hustle, an investment opportunity, or some combination of all three.
How do I make $10,000 a month?
Instead of waiting around or playing lotto, let’s dive into some ideas to make your dream earnings a reality. It all starts with setting a goal and developing plans to succeed.
Set a goal
Since your goal in this instance is to make $10,000 per month, try breaking it down further into how much you should be earning per day so it doesn't seem as intimidating. Chunking your goal into actionable steps will help you understand what you need to do to achieve it.
With an average of 30 days each month, you'll need to make about $333 per day, every day, to reach your goal. Now that you've got that number sorted, you can start asking yourself how you'll make it happen. In this case, I suggest putting on your entrepreneurial cap and figuring out which money-earning methods will offer you the biggest returns.
Go ahead and start brainstorming, keeping your goal at the forefront of your mind:
You could get paid to make deliveries with Postmates.
Make a plan
Next, it’s a good idea to map out how you’ll achieve your goal. List what you’ll need to do to prepare, set daily or weekly goals (or both), and track your progress to keep yourself motivated.
One way to do this is with pen and paper. At the top of your planning sheet, write “How I’ll earn $333 per day and $10,000 per month.”
Then, if you’re interested in selling a product, jot down:
- Ideas for what you could sell
- How you would source the product
- Where and how you’d sell it
Or if walking dogs sounds like fun to you, map out:
- What service you’ll use (Rover, Wag, etc.)
- How much you’ll charge (if you can set your own price)
- How many hours per week you’d need to work to meet your goal
There's more to planning consecutive $10k months, but this is a good start. If you need help setting and tracking your goals, use the technology available to you. Apps like Strides make it easy to create all kinds of goals and monitor your progress.
Create a timeline
Now that you've got the goal and the plan, it's time to create and stick to a timeline. Without one, you may get hung up on too many small details, which can hold you back. A timeline can help maintain forward momentum – you've got a goal to see through!
Depending on which way you've decided to earn money, your timeline for beginning can vary from one day to months or beyond.
6 ways to make $10,000 a month
Get paid to drive your car
If you enjoy the freedom of creating your own schedule, signing up to drive with Lyft can be a great way to make extra money. You can listen to podcasts and music while you explore your city and meet new people.
Keep in mind that to be eligible, you'll need to be at least 21 years old; pass a criminal background check; and have a car to drive, three years of driving experience, an in-state driver's license, and a clean driving record.
Driving for Uber is another great option. The amount you can earn depends on factors like where you live, how often you drive, the time of year, and so on.
Invest in real estate
Investing in real estate is a great way to earn passive income, which means you’ll keep money flowing into your account with minimal effort on your part.
For as little as $500, you can get in on the ground level of real estate investment opportunities from online platforms such as Fundrise. It's easy to use, and you can access your account online for free 24/7.
If you have more money saved or have racked up a lot of credit card points over the years, you could also purchase an investment property, which lets you earn a steady stream of rental income. You might consider buying a duplex and living in one unit while renting the other. This way, you could make enough to cover your mortgage and then some.
Open a Shopify store
Shopify makes it easy to set up an ecommerce site online, whether you want to get into vintage resale, sell handmade items, or choose a product to dropship. Dropshipping requires some initial setup work but can turn into passive income once you get up and running, since you won’t need to stock or ship items yourself. Collectively, Shopify sellers have already generated over $100 billion in sales across the globe.
Host a guest in your spare room
Got room to spare? You could earn seriously generous income by signing up as a host for Airbnb.
Whether you decide to make your space available year-round or for just a few weekends throughout the year, you'll have complete control over your home and 24/7 support from Airbnb.
Become a courier
With Postmates, you can earn money delivering food, groceries, or other items from local businesses directly to customers. You just need to be 18 years old and submit to a background check. The best part is that you don’t even need a car in some areas; you can deliver by foot or bicycle, which saves you money on gas.
While earning rates vary, Postmates CEO Bastian Lehmann says couriers make a median of $19 per hour during peak hours. So if you work hard during busy times, you can make some significant cash.
There are also a few other opportunities for couriers, including DoorDash.
Play with dogs
If you love the idea of getting paid to take care of other people’s fur babies, check out Rover. The platform allows you to provide a number of services to pet owners, from dog walking to pet-sitting. With both of these services, Rover says you can make up to $1,000 per month or more, and there are several ways to maximize your earnings.
You can even set your own schedule and rates. But make sure to check prices in the area to get an idea of what to charge. Keep in mind that Rover takes 20% of your earnings.
The bottom line
You’re not going to score $10,000 per month watching Netflix or napping (unfortunately). But with a strong work ethic and sense of determination, there’s no limit to what you can earn by picking up a few side hustles.
Remember that if you don’t enjoy a gig or don’t end up earning enough, there are a slew of money-making opportunities available to you. If at first you don’t succeed — you know the rest! Hang in there, and you’ll be well on your way to making some serious moolah.