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8 Realistic Side Hustles to Make $500 to $1000 Per Month
Daniel Neale
May 23, 2024
In the world of social media, you often see titles boasting about making $1,000,000 a year or $100,000 a month. While those numbers are inspiring, they can seem unattainable for most people.
Many simply want to make an extra $500 to $1000 a month alongside their current salary or day job.
Here are some realistic side hustles that can help you achieve that goal.
1. Online Teaching and Tutoring
Why It’s Lucrative: Online teaching and tutoring have gained significant popularity in recent years, offering substantial income potential. The global reach of the internet means you can teach students from anywhere in the world, expanding your pool of potential clients.
Getting Started:
Platforms: Use websites like Varsity Tutors, Tutor.com, Tutorful, and MyTutor to find students.
Subjects: Offer tutoring in mainstream academic subjects or niche topics like digital photography and UI design.
Example: If you're proficient in a particular subject, you can start tutoring online. Rates often range from $20 to $100 per hour, providing flexibility to fit into your schedule.
2. Short Form Content Creation
Why It’s Lucrative: Short-form content, such as TikToks and Instagram Reels, is highly sought after. Businesses and content creators need help turning long-form content into engaging short clips that drive audience growth and engagement.
Getting Started:
Skills Needed: Basic video editing skills are essential.
Platforms: List your services on Fiverr and Freelancer.com, or directly approach YouTubers with sample work.
Example: Create short-form content for creators and businesses. You can charge $500 to $1000 a month depending on the quality and quantity of your work. Using tools like Filmora can streamline the video editing process.
3. Discord and Forum Moderation
Why It’s Lucrative: If you enjoy being part of online communities, moderating Discord servers or forums can be a great way to earn extra income. Responsibilities include enforcing community rules, blocking spam, and keeping the community engaged.
Getting Started:
Platforms: Join communities on Discord or forums related to your interests and offer your services to server owners.
Rates: Moderators typically earn around $10 to $20 per hour, but rates can go higher in specialized communities like crypto.
Example: In the crypto space, some Discord moderators earn over $3000 per month. This side hustle provides a way to monetize your involvement in online communities.
Why It’s Lucrative: Many businesses and individuals lack the time or expertise to manage their social media accounts. Offering social media management services can help them grow their online presence while you earn a steady income.
Getting Started:
Skills Needed: Knowledge of social media platforms and marketing strategies.
Monetization: Charge monthly retainers for managing multiple accounts.
Example: Manage social media profiles for local businesses or content creators. Services can range from daily posting to content creation and strategy, potentially earning you $500 to $1000 a month.
5. Virtual Assistance
Why It’s Lucrative: The demand for virtual assistants has surged with more businesses operating remotely. Virtual assistants perform various tasks such as scheduling, email management, and social media management.
Getting Started:
Platforms: Use sites like Zirtual, Fancy Hands, Virtalent, and Moneypenny to find clients.
Rates: Virtual assistants earn between $15 to $50 per hour.
Example: If you have a few free hours daily and can manage multiple tasks, virtual assistance is a flexible way to earn extra income.
6. Transcribing Audio
Why It’s Lucrative: Transcribing audio into text is a service needed by many businesses, researchers, journalists, and podcasters. Strong listening skills and fast, accurate typing are essential.
Getting Started:
Platforms: Use platforms like Rev and Take Note to find transcription work.
Rates: You can earn around $1 per audio minute.
Example: Transcribe audio files for various clients. Many transcription jobs can be done remotely, making it a convenient side hustle.
7. Equipment Rental
Why It’s Lucrative: Renting out equipment you don’t frequently use, such as cameras or tools, can generate extra income. Platforms like Fat Llama and ShareGrid facilitate this process.
Getting Started:
Items to Rent: Cameras, lighting equipment, tools, and more.
Platforms: List your items on Fat Llama or ShareGrid.
Example: Rent out equipment you own but rarely use. This can range from cameras to lawnmowers, and earnings depend on the item's value and demand.
8. Car and Parking Space Rental
Why It’s Lucrative: If you have a car you don’t use often, renting it out through platforms like Turo can provide a steady income. Similarly, renting out a parking space in a high-demand area can be lucrative.
Getting Started:
Platforms: Use Turo for car rentals and JustPark or SpotHero for parking spaces.
Rates: Set your own rates based on demand.
Example: Rent out your car or parking space to generate extra income. This is especially profitable in densely populated areas or during high-demand events.
I show you how to grow, monetize and automate your digital product business in the Digital Creator 2.0