We all want the good life – a decent house you can comfortably pay for, a delightful car you can service and fuel, and the financial muscles to care for your family. All that is possible if you master how to make 50k fast and more consistently.
You can make 50K fast by selling digital products, starting a niche site, or flipping houses, websites, or high-value home-use items, and those will be our focus points.
We’ll look at how you can use these five smart ideas to earn at least $50,000. It could take a few weeks or months in some cases, especially when starting, but it’ll happen at some point if you do your homework well and do not despair mid-journey.
But first, let me help you understand what you can do with $50,00 and why these ideas are worth pursuing. Let’s jump in!
In a rush? Below is a summary of the five ideas you can use to make $50,000 fast.
5 Ways to Make 50k Fast
|–||Idea||What to do exactly:|
|1.||Sell digital products||Produce and sell online courses, e-books, stock images and videos, art, music, software, or games.|
|2.||Start a niche site||Build and monetize a blog with paid ads, affiliate marketing, sponsored posts, merchandise sales, or digital products.|
|3.||Flip houses||Buy a house cheaply, improve/fix it, and sell it high.|
|4.||Flip websites||Buy a website cheaply, improve its revenue, and sell it at a profit.|
|5.||Flip high-value home-use items||Find, improve, and sell (at a profit) high-value home-use items like home appliances, musical instruments, collectibles, furniture, and sports equipment, among many others.|
What Would You Do If You Had $50,000?
$50,000 is enough to do many things. If you have debt, for example, the amount is enough to pay it down or clear it, depending on its size. If you are entrepreneurial, $50K could be just what you need to start a business or add stocks to an existing one.
For someone who is yet to build an emergency fund, the $50,000 will be just what you need to set it up. And if you have plans to buy a rental unit, a house, or a car, it could be enough for the deposit or even buy the asset outright, depending on its value.
Moreover, you can buy shares or stocks with $50,000 or even boost your savings or retirement money. So, there’s just a lot to do with 50K, and that’s why you should consider the five ideas I will share next.
How to Make 50k Fast the Smartest Way
Now, here are the five smart ways you can make $50,000 or more:
1. Sell Digital Products
The term’ digital products’ or sometimes ‘digital goods or digital assets’ refer to intangible products (those you can’t see or touch) that everyone uses. We are talking about digital downloads mostly, and the perfect examples are as follows:
- Online courses
- Stock images and videos
Where to sell them:
You can sell digital goods on your site/blog if you have one. But if you don’t, use online marketplaces like Etsy, Amazon, Shopify, Creative Market, or GumRoad.
In the case of online courses, you can also create and sell them on platforms like Udemy, Skillshare, Thinkific, and Fiverr Learn. As for e-books, you can create and sell them on Amazon through the self-publishing program Amazon Kindle Direct.
And when it comes to stock images and videos, consider stock image sites like Alamy, Getty Images, Dreamstime, Shutterstock, iStock, and Deposit Photos.
How much you can make:
The overall earnings depend on the digital products you are selling and the target market. For example, you can expect to receive 35-70% royalties from e-book sales on Amazon Kindle Direct.
Regarding online courses, a platform like Udemy allows you to make $10-$20 per student per course, while Fiverr Learn allows you to make at least $19 per course. Udemy also has a subscription model, as does Skillshare, where you can make up to $20 per month per student.
As for stock images and videos, you can receive up to 50% commission, depending on the stock image site. For example, Alamy and Dreamstime pay up to 50%, while iStock pays 15-45% commission. On the other hand, Shutterstock pays a 25% commission, while Deposit Photos allows you to keep 34-42% of total sales.
2. Start a Niche Site
How about you start a blog? Just choose a niche you are familiar with or just passionate about and create a blog around it. For example, this blog is on personal finance, but you can find hundreds of niches.
You can blog about anything from travel and fashion to education and technology, health and fitness, food, and lifestyle. The good thing about blogging is that you not only share a niche you are passionate about but can also earn a decent living.
Moreover, you have the flexibility to work from home or anywhere and the flexibility to own your schedule. Not many jobs can offer that!
How much can you make:
Indeed reports that the average blogger earns $51,971 a year. So, if you aim to make $50K in a year, pursue bogging. I, however, know a few people who make $50K in a few months, and that’s why I advocate it.
It’s worth mentioning, nevertheless, that it may take time for your blog to gain authority online and generate income. And, of course, the methods you use to monetize your blog.
How you can monetize your blog:
There are many ways you can earn from blogging. Most bloggers earn through paid ads, affiliate marketing (product recommendation and brand referral), selling merchandise or digital downloads (which I shared earlier), or sponsored ads.
3. Flip Houses for 50K
If you are into real estate, then you should flip houses. That involves buying homes cheaply, fixing and improving them, and then selling them at a profit. It’s all about buying low (and possibly holding) and selling high.
Overall, this is not an easy venture as you need the money to buy and improve the old houses and the technical know-how to improve them. And, of course, you must be patient as sometimes houses take time to sell for the right price.
How much you can make:
According to a 2022 Nasdaq report, the states of Delaware, Columbia, Maryland, New Jersey, and Massachusetts are among the best to flip houses because of their high gross profit and return on investment (ROI).
In Delaware, for example, the average gross profit that year was $193,245, which equals a 96.1% gross ROI, while the average gross profit for Maryland was $143,900, which equals a 69.8% gross ROI.
So, ideally, you can make more than $100,000 profit flipping houses in these states. What’s important is that you shop around for the best house deals to buy cheap and improve them as much as possible to get meaningful ROI.
4. Flip Websites
It’s not just houses that you can flip but also websites; the same model of buying low and selling high applies. With website flipping, you at least need to know your way around revamping and improving website traffic and revenue if you want to sell high.
Here’s how to go about the whole process:
- Find a cheap site for sale and buy it
- Successfully have its ownership transferred to you
- Improve the site’s traffic and earning
- List it for sell
Where you can flip websites:
You can flip sites on Flippa.com, MotionInvest.com, and thewebsiteflip.com.
How much you can make:
You can earn 30-40 times its average monthly revenue depending on the website’s value. For example, if the website generates $5K, you can make $150K – $200K from its sale.
5. Flip High-Value Home-Use Items
Lastly, you can buy high-value home-use items cheaply and sell them high. Remember, the goal is to make the items as appealing to the buyer as possible and improve their overall appeal. When you do, you’ll earn a considerable profit from their sale.
Some of these items include the following:
- Home appliances
- Musical instruments
- Sports equipment
- Exercise equipment
- Wedding dresses
- Baby gear
Where to flip these items:
You can buy these items cheaply from thrift stores, estate sales, local auctions, and garage sales. And when it comes to selling them, you can do it on eBay, Craigslist, or any other reputable site.
How to Make 50k in A Day
It often takes time, perhaps weeks or months, to make 50K. However, if you want to make it in a day, the most realistic way to do it is to sell something of value. It could be a car, house, expensive jewelry, or sought-after art collection.
How to Make 50k in A Month
You can make 50K monthly by flipping something valuable, such as a house, website, or car. You can also do it through a high-traffic blog or YouTube channel or running a huge e-commerce store. In most cases, however, it takes over a month to make $50,000 or anything close to that.
How to Make 50k in 6 Months
Six months is enough to make 50K, and you can do it through a well-paying job, especially in medicine, engineering, legal, and accounting. You can also make that much through an authoritative blog or YouTube channel, online freelancing, flipping websites or houses, selling online courses, ad offering consultancy services.
How Can I Make 50k in A Year?
You can make 50K or more a year using any of these strategies:
- Getting a high-paying job in a field like health, law, accounting, digital marketing, accounting, or engineering
- Becoming a consultant
- Running an ‘own’ business
- Starting a YouTube channel
- Running a blog
- Tutoring ESL online
- Freelancing online
- Buying and selling stocks
- Flipping houses or websites
Now you know how to make 50k fast. Consider selling digital goods, blogging, or flipping houses, websites, or home-use products. You can use the ideas I’ve shared to get started.
And if you need help controlling your spending, as it often means putting up some investment or planning for your finances, check out our highly recommended Budget Tracker and 10-Step Financial Plan on our online store. You’ll also find some other amazing goodies to improve your financial life!