By
James
Updated on
Making 50K a month does sound pretty nice. But is it as easy as it sounds? Well, the answer is yes and no.
Making 50k a month is definitely a possibility, but it takes more time than you may think. All the opportunities that can help you earn 50k per month require consistent effort and hard work. If you’re willing to put in the required effort, you’ll be successful in attaining your goals.
How To Make 50k A Month
1. Create A Blog
A blog page is the most popular way of creating a second income stream. However, it may take a while to start earning a considerable amount through blogging.
Though blogging is not quite easy to do, it is a desired option for many people trying to earn passive income online.
To make 50k a month might be unattainable for a blogger initially, but the unlimited income potential does exist in this field. Blogging gained popularity due to the versatility of its monetization options. As such, Revenue is usually based on the traffic that your blog receives from search engines, social media platforms or even newsletter promotions, etc.
Here are a few ways to successfully monetize a blog page:
A. Affiliate Marketing
Affiliate marketing happens when you receive a portion of the revenue when someone uses a relevant link on your blog to buy the product. An affiliate marketer promoting a product from a particular company can help them get an affiliate code or link. This code, when used, generates a small amount of affiliate income.
B. Display Ads
Advertisements are the best way to earn good money through a blog, and running a display ad can add to your earnings. Since ads pay per click or impression, running a decent number of ads can allow you to generate a reasonable income.
C. Selling Products
Apart from writing a blog, you can sell certain products your niche caters to. It can be books, planners, printables or courses.
D. Sponsorships
Often, brands will sponsor you to write about their products. Sponsorships are a great way to earn money through blogs, as many brands are willing to pay people who can market them well.
E. Freelancing
Apart from a conventional blog, you can offer freelance services on the side. This will help you earn from your writing and not just through the blog.
Like everything, blogging needs consistency. One blog will only be necessary to make 50k a month if you have a considerable amount of audience. You must consistently work on your blogs or build one of your existing ones up. With the income generated from that particular blog, you can then purchase other blogs and generate sustainable income from them as well.
Combining multiple blogs can help you reach $50,000 a month and eventually get financial freedom.
2. Start A YouTube Channel
Starting a YouTube channel is an excellent way to make money. And it can become a well-paying, full-time career if you work hard enough!
Just like blogging, creating a YouTube channel will not guarantee success. You will have to work consistently until you can garner enough followers. When you reach a certain number of subscribers, you can monetize your videos and get paid through Google Adsense. The higher views and traffic your video gets, the higher your earnings become.
Aside from the income generated by your video, you can earn from affiliate marketing and sponsorships. Sponsorships are the most popular means of income for many successful YouTubers. A brand would pay you to introduce or review its product to your audience.
Though the $50,000 mark may take time, some channels start with $20,000 monthly, and this amount is just from the advertising revenue. Adding sponsorships to the lot will make the overall income go higher.
A popular method most people use to generate some extra income is combining YouTube and a blog. They can both serve as advertisements for each other and can gain traffic from both ends.
3. Start An Ecommerce Business
Starting an eCommerce business can be an easy way to make a good monthly income. E-commerce offers a plethora of possibilities for one to start up a small business or expand their current business online. The success stories of people selling a product or service online are innumerable.
You can sell anything from clothes and artwork to digital products without a limit. E-commerce has the most potential out of all to enable you to make 50k or more every month.
If you play the marketing cards right and successfully generate good traffic to your website, your products can become high in demand or even go viral. An example of these online platforms is Shopify- many sellers use it to showcase their products to the public, who, in turn, end up purchasing them.
However, before you jump into starting a business online, it is recommended that you do the necessary market research to have a clear idea about your consumers and what they want.
4. Sell Your Old Stuff
Take a gander at your room and try to spot the number of things that you do not require or use. The chances are the numbers will be pretty high. When you want to make some money, the quickest way you can do so can be by selling stuff in your home that you don’t need or use.
Often, selling such items online or at local businesses like a thrift store can help you earn cash monthly.
5. Start A Lead Generation Business
Many companies are on the lookout for leads that will help them generate good income every month. For example, if you’re a small business owner and can purchase leads for a fraction of the amount, which eventually leads to higher profits, you would buy as many leads as possible.
This is what lead generation’s business model entails. To start a lead generation business, you would first require an appropriate website to attract all, if not most local leads. The best method to get this done is through SEO.
Now, starting a website that is focused on lead generation alone will take longer to grow than marketed websites. But, the growth can be exponential when your leads reach the right target base.
You would, however, need a proper understanding of the market and marketing techniques that are used to rank in search engines to ensure that your website ranks among the top.
6. Start An Affiliate Marketing Website
Affiliate marketers can make a great deal of money online by acting as a middle ground between companies and people.
A foolproof way to earn money fast online is to start a website that specializes in making affiliate marketing commissions for a specific niche. However, most affiliate marketers can make the mistake of choosing the wrong niche, which can affect their earnings.
Another important tip is to join affiliate networks that enable you to find various organizations that you can work with. These networks will comprise smaller companies and bigger reputable businesses that are looking for affiliate marketing, where you can choose the right company to work with.
7. Step Into Real Estate
Real estate has always been known for its attractive income generation, thanks to its demand. And if you want to make $50,000 per month in real estate, the most uncomplicated way would be by becoming a real estate agent.
Real estate agents make tens of thousands to millions of dollars in commission each year. However, you have to be realistic and understand that this much money takes time to generate.
The area you offer your service also plays a significant role in your earning capabilities. If you are an active person, can find clients easily, and can sell homes efficiently, real estate is a great way to make 50K a month.
A few other ways you can make money from real estate are by selling some rental properties, flipping estate, real estate crowdfunding, and real estate investing.
Rental properties can make you 50k a month in passive income, especially if you can branch out to more areas, both in terms of location and niche (for example residential, commercial, etc).
8. Flipping Houses
Flipping houses is a concept that has been around for a long time. It involves purchasing a house and remodeling and redecorating it to sell it at a profitable price. However, it will take a while to make flipping a profitable job.
Flipping homes can be risky when compared to all the other options. You must do proper research for the home you are flipping to avoid ending up making a loss rather than profit, especially if the house is in unrevivable conditions.
When flipping a house, keep the cost of repairs in mind apart from the house’s payment. Once you’ve calculated the costs, you need to make a mental note of desired profits and the price you intend to sell the house for.
9. Being A Social Media Influencer
Social media has been gaining popularity over the years and is a widely used platform globally. Being an influencer on a social media platform can be a task that is challenging yet quite financially rewarding.
If you intend to make serious income, you must garner traffic to your social media accounts and have a good deal of followers.
You can pick a niche, be it fashion, academia, or even gardening, and make videos and posts about the same. This niche will help you gain followers by attracting like-minded people with similar interests.
However, a major misconception about being a social media influencer is that you would have to put yourself out there to be popular. This is not exactly true, as various anonymous pages on platforms like Instagram and Twitter have gained immense popularity.
Being a social media influencer enables you to accept sponsorships and an affiliate link or code which all add to your income. Social media influencing might take a while to get into, but with some market research and dedication, it is certainly an attainable goal.
10. Investing In Stocks
Making $50,000 monthly can be made easier when you utilize various passive revenue streams, like the stock market. Over time, investing in the stock market has always been a popular way to earn extra cash.
The key to earning well in stock investments is keeping it simple.
Initially, your investment returns might not be up to the mark. However, if you give it time to grow, you can increase these returns and potentially make 50k a month through them every month.
The average earnings annually are 7 to 8 percent of your investments. Over the years, this number will only keep increasing and enable you to earn even more compound interest from your investments.
11. Flipping Websites
Flipping websites is a great way to earn extra revenue on the side with a relatively straightforward business model.
You can begin by conducting necessary market research and purchasing a website that has potential. Once purchased, improving the monetization methods of the website can help it be more profitable. Some ways to improve monetization are by focusing on things like affiliate marketing, selling digital products, and to run ads.
As the value keeps increasing, you can flip the website for much more money than you paid, almost like flipping houses but with a website, which is why research is crucial.
Remember that paying for a website that does not carry much potential can be a loss of money and will result in low profits.
Marketplaces like Flippa allow users to purchase and sell various blogs, stores, websites, etc., and provide an opportunity to purchase an existing website or ecommerce site and make more money through it. You can also sell a business or website that you do not wish to keep and earn revenue through sales.
If you want to avoid flipping a website, you can most definitely find blogs, affiliate marketing sites, or some online business that you can purchase so you can earn from the sites rather than building one up from scratch.
12. Sell A Course
If you possess relevant skills and expertise in a specific field, you can monetize it pretty easily. Selling an online course that contains all details needed about your area of specialization can help you earn a stable income. You get to teach a subject you are good at to people who want to upskill and earn from it.
However, to sell online courses and make 50k a month from them, you will either have to charge a considerable amount or sell a larger volume of the online course.
Do keep in mind that it is necessary to market your online course so that more people get access to it and you have a substantial audience base that will generate revenue for you. Picking the right niche also plays a vital role in turning your course profitable.
These courses can be sold either on your own business website or other external websites like Skillshare and Udemy.
13. Arbitrage Retail Items
Apart from flipping websites as well as houses, you can flip products and make more money. Flipping products involves buying products at a lower price from one market and selling them for a much higher price in another marketplace.
However, making 50k this way can take longer as well as be more challenging. You will require a lot of space for the inventory and a lot of working capital to be able to afford to buy products before you sell them for a profit.
The most popular sites to flip retail items are Amazon and eBay, where certain people end up making a considerable amount and turn it into a high-paying job. And the easiest way to source products is by going to yard sales or pawn shops, which have cheaper but useful products you can use.
14. Software As A Service
Software as a service, also known as SaaS, involves software being licensed to customers for a particular fee.
With a SaaS product, more customers, be it individuals or businesses, get to use the software that you have created. In exchange for the product, you receive monthly or bi-weekly payments from the client. SaaS is turning into a highly profitable field, and earning $50,000 from it is definitely a possibility, though not immediately.
With time and space to grow, a SaaS company has the potential to enable you to earn a good amount of revenue. The field can be pretty competitive, considering its recent uprising, but great ideas are openly welcomed in the world of SaaS!
15. Start A Podcast
A podcast can be a fun way to reach your goal of earning $50k a month. Like other types of content creation, blogging, or social media influencing, podcasts can also be lucrative when it comes to income generation.
Starting a podcast is pretty affordable and does not require intense investments. All you would need is a microphone and a device that can record audio, which can be your smartphone, too. Platforms like Spotify are ideal when it comes to podcasts, as they help generate income based on the number of listeners your podcast has.
Along with a podcast, you can have a website or a blog that can consist of newsletters or dates of your upcoming uploads. This will not only keep your listeners informed but also help you gain extra money from how much traffic your website gets.
16. Renting Things Out
If you do not want to sell your old items, you can rent them out. Renting the things you own can generate a good amount of passive revenue. Considering your goal is to make 50k a month through renting out your stuff, try renting out things like garage space, yard equipment, gym equipment, etc.
In case you do not have things that can be rented out, consider purchasing some items and renting them out for monthly rental income. This will help you make the money you paid for the product back quickly and generate extra income.
FAQ
1. How To Make $50000 In Passive Income?
An investment is the most realistic option among all to earn $50,000 as passive revenue. Investing in dividend-paying stocks or any other potential field can be a great way to generate passive income.
Agreed that the portfolio required to earn $50K from investment returns alone is quite extensive, but it is possible. With the right kind of investment in the right niche, your chances of earning 50k a month can be at an all-time high.
The second most viable option is to build online businesses or sell digital products online, which can also help you close to 50k a month when done right.
2. How Much Does $50,000 Per Month Amount To In A Year?
Statistically, $50,000 per month ends up amounting to $600,000 per year. Here are the daily, weekly, and bi-weekly breakdown of the income:
- Monthly– $50,000
- Bi-weekly– $23,076
- Weekly– $11,538
- Daily– $2,307
- Hourly– $288
3. What Not To Do To Make $50,000 A Month?
We’ve looked at the best ways you can make 50k a month. However, here are a few other ways that you should refrain from resorting to meeting your goal of making $50,000 monthly.
A. Gambling
Gambling can not only turn into a highly addictive hobby but also allure people with false promises of instant gratification. The chances of winning and earning while gambling is very minimal when compared to earnings you receive from a business you build yourself. Gambling has plenty of adverse side effects that can make you lose money, so it is best to stay away from it.
B. Multi-level Marketing Schemes
A multi-level marketing scheme is a business model where individuals or firms sell products or services on a people-to-people basis. These types of schemes are often a scam. People who join even the most legitimate MLM will only make little or no money, and can even lose money.
Though most MLM schemes seem legit, they all run through an illegal pyramid scheme that leaves the investors in debt. So, it would be best to avoid such schemes.
Final Words
We’ve focused on various ways to make 50k a month. However, remember that you do not have to stick to just one option. The most ideal way to achieve your goal of making $50,000 per month is by combining multiple options and increasing your income streams. With consistent effort, your goals can be attained over time.
Until next time!
About The Author
Reviewed by
James
James is a writer who is a self-confessed kitchenware and coffee nerd and a strong advocate of Sundays, good butter, and warm sourdough.
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