Hamza Yousaf · Follow
10 min read · Jan 21, 2023
--
Have you ever wondered if it’s possible to make $50,000 in a month?
The answer is, yes, it is! There are several ways of doing it though none of them are quick and easy.
$50,000 per month comes out to $600,000 in a year. That’s quite a sum of money and is enough money for many people to do whatever they want with their lives.
In this article, we’ll discuss 13 ways that you can make $50,000 in a month so that you can create the life that you want.
WIth $50k per month, you’d be able to have money for emergencies, pay off most debt quickly, and invest so much money that you’d have passive income potentially for life.
There are plenty of ways to make $50k monthly. Many of these ways include starting your own business, as running a successful business provides unlimited income potential. When you start a business, you’ll want to first look into business bank accounts. Here’s a list of business banks to get you started.
By giving yourself time to build up your business and combining other income sources, you can eventually make it to this goal.
While starting a blog is a popular way to create another income stream, it’s not necessarily fast or easy.
In terms of income potential, though, blogging is a favorite among people looking to make money online.
Making $50,000 every month isn’t something that most bloggers will achieve, but the possibility is there.
Blogging is popular because there are multiple ways to monetize, and your income is based on how much traffic you get, which can be obtained from search engines, social media, newsletter promotion, and more.
Creating a YouTube channel is another way in which people can potentially make a lot of money. This is another great side hustle that can become a full-time career.
Like blogging, starting a YouTube channel won’t instantly make you rich and may never. However, it will provide an incredibly high earning ceiling due to the number of views and traffic it can generate.
Additionally, if you do manage to get millions of views per month on YouTube, you can make as much as $50,000 or more depending on your sponsorships, affiliate income, and advertising revenue.
According to various sources, here’s a breakdown of what some of the highest-earning YouTubers are making:
- Ryan Kaji: $26 million
- Preston: $14 million
- PewdiePie: $13 million
- VanossGaming: $11.5 million
These YouTubers are making more than $50,000 each month. While these are the top channels out now, there are plenty of YouTube channels that report income by tens of thousands every month.
Even if you’re not one of the top channels on YouTube, you can still make as much as $20,000 each month just in advertising revenue and may even make more if you have affiliate income.
Similar to blogging, the strategy comes down to combining income sources. You can even pair a YouTube channel with a blog to increase your earnings and surpass your goal of $50k monthly.
Real estate has always been a place to make money.
There are a few options for you to take if you’re looking to make $50,000 in real estate.
A straightforward way is to become a real estate agent, where you can make tens of thousands to millions of dollars in commission every year.
However, when you’re starting out, this is much less likely, and it will depend on where you’re conducting business as well.
Being a real estate agent is a viable option for earning $50k monthly if you’re very active and frequently find clients to help buy and sell homes.
You can also make money with real estate by:
- Earning income from rental properties
- Flipping real estate
- Investing in real estate crowdfunding
If you’re looking into real estate crowdfunding, the company Fundrise might interest you.
Fundrise is the first investment platform to create a simple, low-cost way for anyone to access real estate’s historically consistent, exceptional returns. With as little as $10, you can open a Fundrise account and start investing in real estate.
A popular way to earn money through real estate is by using rental properties.
That said, it will take many rental properties to generate an income of $50,000 a month.
While the concept of flipping homes has been around for a long time, you will need to do a lot of hard work to make it profitable.
Flipping homes can be risky — if you don’t dedicate a lot of research, you might end up paying too much for the property and lose money instead of making it.
When it comes to flipping, you’ll want to make sure you’re paying less for the house than it’s worth, while also factoring in how much you expect repairs to be.
From there, you’ll want to anticipate how much you can sell it for to determine how much expected profit you’ll make.
According to ATTOM Data Solutions, a top property data firm, flippers had an average 40.6% ROI in the third quarter of 2019 — this equates to a gross profit of $64,900 per flip.
For a property to be considered a flip by ATTOM, it needs to have been bought and then sold within 12 months. In the example shown above, ROI was calculated through the division of the gross flipping profit ($64,900) from the purchase price (a median of $160,000).
It’s also important to keep in mind that the gross profit is calculated by getting the difference between the property’s original cost and how much you were able to sell it for.
In ATTOM’s example, you’ll notice that their results didn’t include the cost of renovations, which is estimated to be around 20%-33% of a house’s value after making repairs.
High-ticket coaching refers to all kinds of services that have a high dollar value that promises to provide you with a personal transformation and a specific outcome.
Such services provide the client with a structured framework worthy of a four or five-figure investment.
Before selling coaching services, you’ll first need to develop a sales funnel, which requires you to first build trust with your potential clients to encourage them to buy your services.
Popular examples of high-ticket offers include:
- Marketing coaching
- Strategy coaching
- Operations coaching
- Sales coaching
- Life coaching
- Financial coaching
- Business coaching
- Legal coaching
- Wellness coaching
- Career coaching
- Relationship coaching
There are three reasons why high-ticket coaching programs can be set apart from other kinds of coaching programs:
When a person is willing to make huge investments in a coaching program, it means that they need to solve a specific problem and that they’re looking for a specific outcome.
A high-ticket program is a promise that if you followed the roadmap provided to a T, along with the right mindset, then they should be able to get the results they’re after.
The price of the services is often the defining trait of a high-ticket coaching program. A high-ticket program will offer the chance to transform a person to a desired result, where people are willing to pay more than $5,000 to get help from a certified coach in their field.
This is because the benefit and value that such experience can bring are guaranteed to improve their lives in the way they want it to. While many can get away with the less structured approach that low-ticket coaching provides, such as Q&A-style sessions and quick intensives, this isn’t the same thing you would get from high-ticket programs.
To be considered a high-ticket program, you must provide a clear framework that will help your clients achieve the transformation they’re after.
You will need to provide a well-researched plan, various approaches, and techniques that will help your clients in their journey.
The price for these kinds of coaching services is high, so it’s only fair that customer expectations are also high.
By employing your services, clients can expect to gain a mountain of materials and resources that provide a structured framework of the program along with an action plan that will make their learning repeatable.
Clients don’t want to think about whether or not they were explaining their needs in the right way or if they were asking the right questions — they simply want to see the results they need right away.
Additionally, they want a path that’s already laid out for them rather than having to build a road map. In other words, high-ticket coaches work as a high-end concierge service.
Similar to bloggers, affiliate marketers make money with a website. You’ll choose a niche and find companies to become affiliated with.
From there, you’ll promote their products to your audience and take a commission whenever you make a sale.
It’s key to target a profitable niche as you’ll want to maximize your earnings for your effort.
Joining affiliate networks enables you to browse thousands of companies that you can work with.
Many companies have minimum requirements to be their affiliate, such as amount of content on your website or minimum traffic.
Here are some affiliate networks to get you started:
These networks have both small businesses and major companies that will be at your disposal so that you can create a profitable affiliate marketing website.
When it comes to sales positions, most companies provide sales reps with a basic salary along with commissions for sales made.
As a salesman, you’ll close deals with clients and be paid based on your sales performance.
For example, if you sold insurance, you may be paid a percentage of the first year’s premiums plus residual income for every year that the client has their plan with your insurance company.
Top-notch salespeople may close multi-million dollar deals and earn 7 figure salaries for their efforts.
To become a competitive salesman, you’ll want to:
- Shadow those more experienced than you
- Practice people skills
- Know when to walk
- Be honest, not shady
- Be an active listener to your customer
Starting an eCommerce business can be an excellent way to earn $50,000 in a month.
There’s a lot of money to be made in eCommerce, especially in certain niches.
There have been plenty of success stories from regular people who had the idea of selling a product or service online.
These people eventually scaled their business and are now making millions each year. Your business could be anything — a niche product, a clothing brand, or even selling artwork. There is no limit to what you can sell online.
No matter what you sell, though, eCommerce has the potential to help you earn $50,000 or more every month.
This is especially true if you can build up a lot of traffic on your website or if your products can go viral.
One of the top-selling platforms available right now is Shopify.
Shopify is a complete commerce platform that lets you start, grow, and manage a business. Create an online store and sell to anyone on the internet. Shopify has dropshipping integration and comes with a 14-day free trial.
Start your online business on Shopify today.
Building a successful eCommerce store takes time, and you’ll want to do ample market research before you start.
Dividends refer to the payments that a company makes to their shareholders — owning stocks that pay dividends means that you are getting shares from the company’s profits.
Having dividends allows you to get a stream of income apart from the growth you get from your portfolio’s market value.
For instance, if you invested in a company that pays a 3% dividend for each share, and you own a share of the company worth $100, then you would get $3 in dividends each year.
You could consider flipping websites if you’re looking for a lucrative way to make $50,000 a month. The business model is relatively straightforward.
Step 1: Purchase a website
Step 2: Improve its monetization methods so that it profits more. These methods could include:
- Affiliate marketing
- Running ads
- Selling products
Step 3: As the value increases, flip the site for considerably more than what you paid for it.
Be sure to do plenty of research when flipping websites, as it’s possible to lose money if you pay too much or are unable to make the site more profitable.
Flippa is the number one place to buy and sell blogs, eCommerce stores, affiliate marketing sites, online businesses, and more.
Flippa provides an opportunity for you to buy an existing online business and earn money immediately.
You also have the opportunity to sell a business you no longer want to operate. Lastly, you have the ability to flip online businesses by buying them, improving them, and selling them at a later date.
Some people are known to make $10,000 or more per month flipping businesses on Flippa. Even if you don’t want to flip, you could certainly find blogs, affiliate marketing sites, or eCommerce sites to buy so that you can generate revenue instantly instead of building the site up from scratch.
If you have skills or knowledge in a particular area, there’s no reason why you can’t make money from it. Developing and building a course that details everything you know about your area of expertise can help towards your goal of earning $50,000 a month.
An added bonus about making an online course is that you’ll get to teach something you’re good at to those struggling with it.
To make $50,000 per month, you will need to either charge a lot for the course(s) you make or sell a large volume of them.
Your hard work can pay off once you successfully market the course
You can sell your online courses on your website, or you can look into external websites such as Udemy, Skillshare, and Teachable, to name a few places.
Creating an online course can be exceptionally profitable if you’re in the right niche and market it well.
Teachable is a course platform that supports course creation, hosting, and sales, and you can have students become your affiliates so that they can market your course to people they know, earning you more in course sales.
Websites and houses aren’t the only things you can make money on.
Flipping products for profit is another thing you can do to generate $50,000 per month. Your goal is to look for products that you can buy at a low price in one marketplace and then sell them for higher prices in a different marketplace.
However, to make $50,000 in a month doing this, you’ll likely need a lot of space to store inventory and enough working capital to afford buying things while you wait to sell them for a profit.
Amazon and eBay are two popular places to flip items. Some people make a full-time income buying things locally and selling them online.
Going to yard sales, consignment shops, and pawn shops are three places where you can find goods to flip online.
