We all would love to master how to make 5k a month to attend to our most pressing financial needs. It could be a debt you can’t settle, a business you can’t find capital for, or a mega purchase you can’t afford.
Whatever the reason is, you can make 5k a month through blogging, online writing, Dropshipping, Amazon FBA, Etsy store, ESL tutoring, items flipping, stock photography, online course selling, YouTubing, e-book selling, or real estate.
So, while most of us think it takes a paid job to make 5K or more, you could do it with a side hustle, and the ideas I’ve mentioned are just the perfect reference point. On that note, we shall discuss how to make $5,000 in each case.
Here’s what we shall cover:
- What salary is $5k a month?
- Is making $5K a month good?
- How can you make 5k a month from home?
- How can you make 5k a month online?
- Lastly, how can you make 5k a month in passive income?
Let’s now get into it!
In a rush? Below is an overview of the 11 ways you can make 5k a month:
How to Make 5k A Month – Quick Overview
|What to Do:
|Start your blog to earn through affiliate marketing, ads display, merchandise sales, digital downloads, and sponsored content.
|Apply for the best-paying online writing jobs on Upwork, Text Broker, Fiverr, People Per Hour, Pro Blogger, and other sites.
|Start a Dropshipping business online, more so on social media.
|Sign up for an Amazon FBA seller’s account to send merchandise to Amazon.
|Sign up for an Etsy store online to sell crafts and other creative products.
|Teach English as a second language on VIPKID, Magic Ears, PrePly, or QKids
|Find cheap products to buy and improve, and sell at a profit.
|Sell your photos online on stock image sites.
|Online Course Sale
|Sell your digital courses online.
|Start a YouTube channel, get 1K subscribers, and qualify for the YouTube Partnership Program.
|Self-publish and sell electronic books on Amazon
What Salary Is 5k A Month?
Given that a year has a dozen months, a 5K monthly income translates to 60k in a year. That is after multiplying 5k by 12 months.
And given that a month has at least four weeks, you’ll make at least $1250 a week if we divide 5,000 by 4.
In terms of work hours, the standard number of work hours per day is 8 hours, and per week, it is 40 hours (after multiplying 8 hours by five days).
So, if we divide the $1250 weekly earnings by 40 hours, you’ll average $31.25 per hour, and if we multiply that by 8 hours, you’ll be making $250 a day.
Is Making 5k A Month Good?
From the above information, 5k per month translates to 60 per year. Studies show that the national average income in the United States currently stands at $63,442. So, by earning $60,000, you are not far off the mark, which means you can survive only on a 5k monthly pay in the United States.
You’ll, however, be much more comfortable in other less-developed countries where the dollar’s value is still higher. So, making 5K a month is good, especially from a side hustle.
How Can I Make 5000 A Month from Home?
It’s possible to make 5k a month working from home. In most cases, that involves working online. Now, here’s how to make 5k a month from home:
1. Blogging for 5k a Month
Blogging is a good side hustle for someone who enjoys writing. It allows you to share your ideas, experience, expertise, and solutions for problems most people face. That means you can start a blog on any niche.
That includes home gardening, IT, personal finance, education, health, fitness, home appliances, spirituality, parenting, sports, cars, and more. And when it comes to monetizing your blog, you can do it with:
- Affiliate marketing (where you sign up with an affiliate program like Amazon Associates to start promoting their products on your blog)
- Ads display (where you earn from the ads you show on your blog)
- Merchandise sale (this involves selling physical products directly from your blog)
- Digital downloads (where you sell e-books, digital courses, and other digital downloads)
- Sponsored content
2. Online Writing
Online writing, popularly known as freelance writing, is another side-hustling idea for those good with creative writing and research. You can write blog posts, articles, newsletters, sales copy, and other pieces for clients and earn up to $100 per write-up.
Some of the best platforms to get online writing jobs include Upwork, Text Broker, Fiverr, People Per Hour, and Pro Blogger.
3. Dropshipping for 5k a Month
Imagine the possibility of not having to physically hold or own inventory and still be able to sell merchandise online. That’s the advantage that Dropshipping promises.
Dropshipping allows you to advertise products on your social media or website on behalf of a supplier (or Drop-shipper). When the order arrives, you pass it to the drop-shipper for fulfillment.
You make money by selling the product at retail price and paying the Dropshipper wholesale price. It’s that simple!
4. Amazon FBA
Did you know that Amazon, arguably the leading online retailer, doesn’t own everything they sell on their website? Most of the merchandise comes from independent suppliers who ship the products to an Amazon Fulfilment Center, where Amazon handles everything else. That includes warehousing, packaging, branding, and shipping to consumers.
You can join this program, Fulfilled by Amazon (or FBA), and make money. According to one study, Amazon FBA sellers average 10k-20k in sales and a monthly profit margin of $100 – $5,000. So, 5K a month is doable.
5. Etsy Store
Etsy is for the creatives. Those who can create beautiful crafts, home decor, unique designs, printables, and any handwork that people will fancy buying. If that sounds like you, you could set up an Etsy store and sell to people worldwide.
Overall, it’s possible to average 5k a month on Etsy if your products are compelling and unique.
6. ESL Tutoring
Teaching English as a second language (or ESL) is a great side hustle for English natives and those who can speak like a native. In most cases, you need to be a graduate, but necessarily a graduate teacher.
You can check out ESL tutoring jobs on VIPKID, Magic Ears, PrePly, or QKids, and depending on your teaching experience and platform, you could make $10-$25 an hour. If you add a few tips and average 8 hours daily, you could hit 5k monthly.
7. Items Flipping
Items flipping is all about buying products cheaply, tweaking them to improve their salability, and then selling them at a profit. So, you also need to be creative to flip items for profit.
Some products you can flip are electronics, furniture, power tools, exercise equipment, and baby gear, and you can get them on flea markets, garage sales, and Craigslist.
And when it comes to selling them after some improvement, you can do it on eBay, Amazon, Mercari, and Bonanza.
8. Stock Photography
How about you turn your profound love for photography into a side hustle? All you have to do is take beautiful photographs and post them on stock image sites such as Alamy, Shutterstock, Getty Images, Stocksy, iStockPhoto, and Dreamstime.
A site like Stocksy pays 50-75% royalty, while iStockPhoto and Dreamstime pay up to 45% commission. Meanwhile, Alamy allows you to make up to 50% of each image you sell, while Getty Images and Shutterstock average 20% commission.
Overall, you’ll need to upload as many creative images as possible and use as many of these platforms as possible to make 5k a month.
9. Online Course Selling
Are you an expert in a particular field or just skilled? You could create an online course on platforms like Teachable, Udemy, and Thinkific and earn passive income. You can also use your website to sell the course. If you have a good audience, it’s possible to hit 5k.
10. YouTube Business
YouTube isn’t just an entertainment hub. It’s also a money-mining zone for creatives, and all you need to make 5k a month is to grow a long subscriber list and join the YouTube Partnership Program. Overall, the more video views you enjoy, the more money you make, but you can also sell merchandise directly from your YouTube channel.
11. E-Book Selling
This is another opportunity for good writers. If that’s you, consider creating a book about anything from cookbooks to travel, a travel journal, and you can do it on the Amazon Kindle Direct Publishing (KDP) program. The self-publishing program allows you to publish your e-book for free and receive 35-70% royalties.
How Can I Make $5000 A Month Online?
The online sphere has many side hustling and investment opportunities that could make you $5,000 or more monthly. Those ideas, which have been shared above, include the following:
- Running a profitable blog
- Running a profitable YouTube channel
- Starting a Dropshipping business
- Launching an Etsy store
- Becoming an Amazon FBA member
- Flipping items for profit online
- Selling stock images
- Selling e-books, online courses, and other digital goods
Answered – How to Make 5k A Month Passive Income
Nothing is more financially and mentally settling than having a passive income source. Just the thought of not having to actively get involved in the day-to-day running of the idea makes it easy to concentrate on other ventures.
Here are some passive income ideas that could make you up to $5,000 or more that we’ve also already shared:
- Selling digital goods such as e-books, digital courses, and stock photos
Concluding Thought on How to Make 5k A Month:
As shared, it’s possible to make 5K working from home, and it involves running a blog, freelance writing, Amazon FBA selling, running an Etsy store, teaching English online, flipping items for profit, selling stock images, selling courses online, running a YouTube channel, and selling e-books.
We hope you can find and pursue one idea that suits you. Doing so will ensure you have a lucrative side hustle that could eventually become your main hustle. If you want more inspiration or perhaps information on debt management, financial planning, or investment ideas, visit our online store to access our financial resources.