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Nothing is as exciting as learning how to make 5k in a day. You can use the money to start a company, build a dream mansion, or clear the most crippling debt, among other ideas. The question, however, is, ‘How do you make that much within such a short while?’
You can make 5k a day by selling personal stuff, running a high-margin product, offering high-end consulting, flipping items, taking up a high-return investment, becoming a professional athlete, or through crowdfunding.
So, there are ideally about seven ways you can make 5k in a day, which I must say aren’t easy, but they are practical, and that’s what matters. Depending on your skill level, personal drive and monetary power, I’ll help you determine which of the seven ideas is worth pursuing.
But more importantly, we shall discuss some things you can do with the money. Here’s basically what this post will be all about:
- How much is 5k a day in a week, month and year?
- What can you do with the 5k you make in a day?
- How can I make $5,000 quickly in a day?
- How can you make 5k in a week?
- Lastly, how can you make 5k in a month?
Let’s dive right in!
In a hurry? Below is a quick overview of how to make $5,000 dollars in a day.
How to Make 5k in A Day – An Overview
| – | Money-Making Idea | What to Do: |
| 1. | Selling Personal Stuff | Sell personal valuables or assets online or through a garage sale. |
| 2. | High-Margin Product Business | Start selling high-margin products online. |
| 3. | High-End Consulting | Start a high-end consulting firm/service business. |
| 4. | Items Flipping | Buy low-priced items and sell them online at a profit. |
| 5. | High-Return Investment | Invest in a high-return investment opportunity such as stocks and real estate. |
| 6. | Professional Athlete | Pursue a high-paying professional sport such as soccer, basketball, golf, boxing, or auto racing. |
| 7. | Crowdfunding | Set up a crowdfunding channel online to solicit funds from friends, family and other interested parties. |
How Much Is 5K A Day in A Week, Month and Year?
Typically, most people work five days a week, 8 hours each day and that brings the total number of weekly hours to 40 hours. So, if 8 hours equals 5k, 40 hours will equal 25k. Or multiply 5k by five days, and you’ll get 25k. So, you’ll be making $25,000 if you make 5k a day working five days a week.
How about a month? Suppose a month has four weeks, and you make $25 every week. If so, you’ll average at least $100 monthly. If you multiply that by 12, you’ll average at least $1.2 million annually. Frankly, that’s a lot of money anyone who dreams of ‘the good life’ would love to make.
What to Do with 5K?
There’s just a lot to do with 5k, and it all depends on what your priorities are:
What to do first:
Before anything, you should consider doing the following:
a. Setting up an emergency fund
You require a safety net to cushion you financially during an unforeseen financial emergency such as a medical bill, home repair, a job loss, an unplanned travel or something else. The 5k you make could be a good start, and you can continue topping up your emergency fund as often as you get the money.
b. Clearing an outstanding debt
No matter how much you make, you cannot make meaningful financial strides or achieve money goals if you have debt.
So, how about you use the 5k to start paying down what you own and continue reducing the burden as often as you make the money? Our online shop has some resources that can help you with that. Check them out.
What to do next:
Once you set up an emergency fund and clear an unpaid debt, you can consider doing the following with the 5k you make:
- Start a profitable side hustle to create extra income
- Invest in a small business to also make additional income
- Buy stocks or shares in a company and start earning dividends
- Open a high-yield savings account (or HYSA)
- Set up a college fund
- Start funding your retirement fund
- Start paying for the mortgage deposit
What not to overlook:
Don’t forget to treat yourself and those around you who matter. Take yourself out, gift yourself, go for a family vacation or weekend getaway with friends or even save up for the car you’ve always wanted.
All that is possible once you attend to the most essential things, such as setting up an emergency fund and clearing a crippling debt. Just ensure you don’t overindulge not to overuse the money you’ve worked so hard to make.
How Can I Make 5000 Dollars in A Day?
Now that you know how much 5k a day is in a week, month, and year and what to do with it, let’s talk about what you can do to earn that much. Here’s how to make 5k in a day:
1. Sell Personal Stuff for 5K
How about you start selling personal valuables or assets? It’s arguably the most straightforward way to make $5k in a day if your possessions are things people want to buy.
For example, you can sell sports equipment on Sideline Swap, electronics on Mercari, jewelry on Worthy.com, clothing and shoes on Poshmark, and just about anything on Facebook Marketplace.
If you don’t fancy online selling, you can organize a garage sale at home and have people from your neighborhood come to buy whatever interests them.
2. Start a High Margin Product Business
High-margin products refer to items with a higher profit margin, at least 30%, once you put the overheads into account. These products generally have these characteristics:
- Highly in demand
- All year sellable
- Easily marketable
- Attract repeat customers
- Low competition
- Sustainable
- Durable
- High price points
- Affordable to consumers
Can you think of a product that ticks such boxes?
Well, you don’t have to scratch your head over it. Here are some fantastic ideas:
- Jewelry (which you can sell on Etsy, Instagram, and Facebook
- Phone accessories (which you can sell on social media)
- Beauty products (which you can sell on social media or personal website)
- Women’s apparel (which you can sell on social media or apparel websites)
- Kids toys
- Pet care products
- Home office supplies
- Smart home accessories/devices
- Personalized gifts
3. Offer High-End Expert Consulting Services for 5K
Some of the highest earners in the world are consultants. These highly trained or experienced individuals exchange expert knowledge for cash; some are paid hourly.
Though the income can be unstable, it’s possible to make 5k a day. Some of the highest-paying high-end consultancy jobs include:
- Executive Consulting
- Specialized Training
- Legal Consulting
- Strategy Consulting
- Fitness Consulting
- PR Consulting
- Brand Consulting
- Financial Consulting
4. Flip High-Profit Items for 5K
Are you good with buying low and selling higher, perhaps after minor improvements? Then you can pursue items flipping, and there’s just a lot to flip. For example, you can buy low-cost video games, electronics and toys from garage sales and sell them at a profit on Facebook Marketplace, Depop, eBay and Depli.
You can also buy designer wear and accessories from people and sell them at a profit on Poshmark, Etsy, and Depop. Don’t forget about furniture, luxury watches, classical music instruments, tools, sports equipment, and home decor as they are also high profit.
5. Take Up a High-Return Investment
If you don’t mind putting in some money so that you can make more, consider taking up an investment. But since your target is 5k a day, it should be a high-return investment, which often means a high stake. Perfect examples include:
- Real Estate
- Stock Trading
- Forex Trading
- Binary Trading
- Crypto Trading
- Options Trading
Overall, this can be a high-risk undertaking since you may have to invest a lot of money to make 5k a day. So, ensure you do your due diligence and consult the right people. It’s also important to remain patient, as it may be a while before making 5k a day.
6. Become a High Paid Professional Athlete
Forbes has just unveiled the list of the top 50 highest-paid athletes in 2023, and the numbers are pretty astronomical. The top three are the world’s finest soccer players: Christiano Ronaldo, Lionel Messi, and Kylian Mbappe, who averaged over $120 million each on and off.
Coming in 4th, 5th and 6th are Basketball sensation LeBron James, hard-knocking professional boxer Canelo Alvares and American golfer Dustin Johnson, all averaging over $100 million on and off the field.
So, what’s the point? The point is that it pays to be a professional athlete, and even if you don’t reach the heights of Christiano Ronaldo or Lionel Messi, you’ll surely make some serious cash. So, pursue your talent.
7. Crowdfunding
Lastly, you can solicit funds from a large group of people online. It’s more like receiving donations, but in some way, you don’t get free help as you promise something in return, such as equity from your business, although with less liquidity.
You can also run reward-based crowdfunding, where you promise tokens or rewards after the development of your product or company.
You can check out crowdfunding platforms like GoFundMe, Kickstarter, Just Giving, or Fundly to get started or use social media, especially Facebook, to raise funds from friends, relatives and other interested parties.
How to Make 5k in A Week
You can make $5k in a week running your own business (either online or offline), selling content through blogging or YouTube, selling a high-value asset, or flipping items. You can also do it by freelancing online on a platform like Upwork, working as a highly paid online consultant, or getting a high-paying weekly job.
How to Make 5k in A Month
You are likelier to make 5k in a month than a week or a day. Here are some ways to do it:
- Get a well-paying paycheck job
- Sign up for online freelance work
- Start Dropshipping
- Become an Amazon FBA seller
- Sell digital courses online
- Launch a profit-making blog
- Set up a YouTube channel
- Flip websites on other high-value items for profit
- Become an online tutor or coach
Concluding Thought On How to Make 5k in A Day:
Discussed are the seven practical ways to make 5k in a day. Frankly, it’s never easy to make that amount within such a short time. It, however, takes effort, good financial discipline, wise decision-making, and thorough due diligence to make that much.
