How To Make An Extra $500 A Month – Top 8 Options To Know
If you are looking for how to make an extra $500 a month, you are in the right place. While it can be argued that having a full-time job, where you are your own boss or not, is great, the present economic realities make it important to have a side hustle or other ways of making extra money.
You must understand that, in looking to make extra money, you might not even have to quit your job. You probably will not need any experience or qualifications, such as a college degree, and you can most likely get paid per hour even.
There is generally no threshold of how much extra cash you can make. However, starting with an extra $500 a month is great. Hence, this discussion is about how to make an extra $500 dollars every month.
The benefits from making an extra $500 every month can be endless. For instance, when you find a way to earn more money, you become more independent. You would not have to ask your partner for their credit card every time you need cash and many more.
If you are ready to learn how to make an extra $500 a month, let’s get started!
What Can You Do With An Extra $500 A Month?
Before we get into the tips, you need to make extra money each month; we need to address some preliminary issues. One of them is the reason for looking to make more money in the first place. Perhaps you have a full-time job where you are currently making money. Hence, you do not understand why you need to find a side hustle or make extra money. If that is the case, please find below three great reasons to make extra 500 dollars every month.
Helps You To Hit Your Savings Goal
If you are someone who is financially prudent, you definitely must have savings goals. Making an extra 500 dollars is a great way to reach your target. The great thing with this is that there are multiple ways to make money on the side. You usually would not need a lot to get started. You can literally turn anything into one remarkable business and reap the rewards from it. You could even get paid per hour in some cases, and you can choose the hours most convenient for you. This would no doubt also positively impact your credit scores. Thus, credit card companies would not hesitate to grant you an overdraft when they discover that you have multiple ways to make money.
You Get To Pay Off Your Debts
Judging from the experience, a monthly salary might be insufficient to pay off debts. This is especially the case if you are mired in different debts. Making extra 500 dollars each month is one great way to get extra cash to pay off your debts. Thus, you can easily pay off credit card debts, student loans, etc.
Nothing in life is guaranteed. We have seen this statement play out in the financial sector in recent times. People have lost their jobs in droves. Hence, as someone who enjoys job security, has no student loans, it wouldn’t seem like you need a side hustle or a means to make extra money at the moment. But this could easily change. Experience has shown making money from one channel cannot be compared with having extra cash from two or more multiple sources. Thus, you need to find a great way to get started on a side hustle as soon as you can. Making an extra 500 dollars a month can help you remain stable even in the changing financial climate.
How To Make Extra $500 A Month
Below, find tested and trusted ways to make an extra $500 every month.
1. Get Paid To Carry Out Surveys
One great way to make extra money is by taking online surveys. Companies are forever looking for people to test their products and services. Thus, survey sites make the arrangements and recruit people to take the surveys. It is one o the easiest ways to make extra money because you will basically get paid to give your opinions. Also, survey sites are a dime a dozen. Hence, you will not run out of options. What you need on your part is to have a strong data connection and one or more internet-enabled devices. A quick search on Google will reveal great sites you can get started with, we’ve also reviewed quite a few popular options including Survey Club, Opinion Outpost, Zap Surveys, and Survey Junkie. Do understand that this is not a quick fix. However, if you are persistent, you might be able to make an extra 500 dollars or so every month.
2. Become A Virtual Assistant
You may be surprised at the number of people who can employ you as a virtual assistant. Folks are increasingly busy these days and have money to spare but are choked for time. If you have great organizational skills, you could channel them into this area and become a virtual assistant. The great thing about this is that you can make an extra $500 or more from the comfort of your home. Hence, if you think you can, then, by all means, dust your resume and seek out virtual assistant offers open. Additionally, if you find that becoming a virtual assistant is really what you’re into, you could even start your very own virtual assistant business.
3. Freelance Writing
One of the easiest ways to make extra cash is through freelance writing. It is a perfect example of a part-time job that you need little else except your laptop and an internet connection to get started. What makes it one of the fastest ways to make money is that you can get paid to write about literally anything.
Furthermore, there are several niche areas you could channel your energy towards. You could dedicate your efforts towards writing copy for websites or blogs. To earn extra money, you could also write fiction or nonfiction ebooks. All in all, you can definitely make money writing online.
4. Drive A Ride Share
Ridesharing has become a huge thing, especially in the twenty-first century. In a bid to reduce the amount they spend on transportation per month, people are incentivized to share rides. On the flip side, it is also a great way to make money with little or no downtime on your part.
Another perk of this part-time job is that you can fix your schedule any way you want. This leaves room for you to do other things when you aren’t doing the ride-sharing. You can also regulate your take-home pay for each period. You could increase or reduce your number of fares to meet your target quota. You could also consider renting out your car to others as well with sites like Turo and HyreCar.
5. Ask Your Boss For A Raise
You do not have to start something new whenever you are looking to make extra cash. If you currently hold down a full-time job, you could ask for a raise. Here, you wouldn’t even need to make money from home or look to make a stipend per month.
When asking for a raise, you need first to make sure that you offer value in return. Hence, you need to be an indispensable part of the organization to deserve a raise. Consolidate on your efforts to demand and obtain a raise. Depending on the industry that you work in, you could make as much as $500 per month as a raise.
6. Engage In Affiliate Marketing
Again, this is one of the easy ways to make an extra $500.
Affiliate marketing is like recommending products and being paid for it. This is probably something you already do. Imagine affiliate marketing to work this way: you use a product or service and thoroughly enjoyed it. You then talk about this product to people. When they purchase the product based on your recommendation, you get a commission. The more people who follow your recommendation, the more money you get.
As you can see, the process is straightforward. You do not need to have any experience to get started. More so, this is something that someone who already has a full-time job can do on the side and get cash per month.
For the recommendation system to work, you need to find a medium to broadcast the product. The post may contain affiliate links. No additional costs accrue to the person who clicks the links.
Of course, it goes with saying that you should only recommend products that you have used yourself.
7. Sell Ebooks On Amazon
Another way to make money online is through selling e-books on Amazon. Basically, here, you will be publishing your books on Amazon Kindle. Whenever anyone purchases the book, the income goes directly to you. Hence, it can be a source of passive income, and you wouldn’t even need to leave your full-time job. When you compare what you make per hour or the average pay the average person takes home, you will be astonished at your possible returns in any given month.
This is an easy way to make money part-time. You would not even need to have any experience with publishing. What you do need is a product with the viability of selling in the market. Amazon sometimes acts as a self-regulated system. People purchase books on the platform without needing any incentive or promotion. Hence, as long as your product (an eBook in this case) is exceptional, you should have no issues with patronage.
Do not be thrown off by the idea of publishing. The process is easy. To get started, you first have to decide on a niche to launch into. An ideal niche should be in nonfiction so that it wouldn’t be saturated. Then write the book using a word processor app that you like. Edit and revise. You can seek professional help for creating the cover or even do that yourself, too. Finally, you upload for public viewership. As you can see, this is a cool side hustle for anyone looking to make extra cash.
8. Pet Sitting
This is an example of a painless side gig if you want to make extra money. Also, a member of the pet kingdom will be less likely to be antagonistic or ungrateful. The cost of keeping a pet in a public kennel is increasingly exorbitant. Thus, pet owners often realize that it saves them money to have someone pet sit their home pets. That someone could be you. You would be rewarded for your efforts. You can even take it one step further and start your very own pet sitting business!
Final Thoughts: Making An Extra $500 A Month
You can never go wrong with making more money each month. Whether you are looking to earn extra money from home, or get paid to answer questions on any survey site, making extra money is one of the best financial choices you can make. Above, we have curated a list of some of the best ways to make an extra 500 dollars each month. Most of them are hassle-free and straightforward. More so, you would definitely find something for yourself. If you are looking to begin, the information here will prove indispensable.