Believe it or not, making $8k a month is possible. Yes, you can earn $8k per month online and many are already doing it.Moreover, you already have all the tools and skills to get started, you just don’t see opportunity yet, because you aren’t looking. However, with a little bit of passion, dedication, and commitment, you can make $8k every single month.
Here are some ways:
- Invest to Make $8k a Month
Investing can be an excellent method to make $8k a month if you have some capital to deploy upfront. There are many methods of investing you can take advantage of including investing in stocks, real estate, small businesses, cryptocurrency, and more. We'll explore some of these below!To better understand how much money you can make investing, let's do some math.If your goal is to make an extra 10k per month let's take a look at investing in the stock market. Assuming a 7% annual return or .58% per month, you would need to invest around $1.72 million to reach your goal. Okay so this is pretty unrealistic. But that doesn't mean you shouldn't take advantage. By making consistent contributions into your investment accounts, you can slowly build your way to $8k per month.
Real estate also provides an opportunity to grow your money and earn $10,000 per month. Similar to other investments, it's going to take some money to get started if you want to make serious money.One method to do this is through owning rental properties. It's possible to find rental properties that cash flow thousands of dollars each month.For example, if you are capable of purchasing a quadplex in which each door rents for $1,000 per month but your mortgage and expenses amount to $2,000 per month you could make a profit of $2,000 monthly. Multiple this times 4 and you'll be earning $8k per month.
- Sell Products via E-commerce Sites
Selling products via e-commerce sites is one of the best ways to make money online because there are so many potential options.For example, some entrepreneurs might choose to sell via Amazon FBA. This process involves having Amazon fulfill and ship products for you for a small fee. You ship your items directly to Amazon and they will ship them to your customers doorstep.But it doesn't stop there. You can also opt to start your own e-commerce website or online store and sell products directly to customers to start making money. This comes with larger profit margins but you'll need to have the skills to build your website and acquire new customers. By creating an online store you can grow your income and earn thousands per month online.
- Earn by becoming a Freelancer
A freelancer is an individual who performs services for a fee, whether that’s hourly, per word, or per project. In other words, freelancers trade time for money. An example of a modern day freelancer would be a virtual assistant. They work from home, or anywhere really, are generally an independent contractor, and they assist in getting things done!As a freelancer, you need to have skills people are willing to pay for.The easiest transition from employee to freelancer is to start with the things you’ve already been paid to do.For example, before I became a freelancer, I was working on the marketing team of a startup. So when I decided to go freelance, what did I do? I started selling marketing services (social media management, blogging, copywriting, PR campaigns, etc.) to startups!
Making $8k a month or more as a blogger won’t happen overnight.But with the right strategy and know-how, you can absolutely earn a six-figure income this way. To make $8k a month blogging, you’ll need to dedicate a significant amount of time to grow your income.There are many types of blogs you can start to build a hefty income stream. Some types of blogs are more difficult to grow than others because there is more competition. For example, starting a blog that reviews credit cards will be difficult to gain traction because you’ll be competing against giant media companies like NerdWallet and others.The most important thing you need is an audience. You can’t make money blogging if nobody reads what you’re writing. So the first thing you want to focus on is gaining traffic. There are so many ways to make money blogging, including
- Running ads on your site
- Affiliate marketing
- Sponsored posts
- Selling digital or physical products
- Offering freelance services
Affiliate marketing is simple, you sign up to an affiliate network, you get your special links to a product, you promote the product and send them visitors, if anyone ends up buying, you will get a commission.Affiliate marketing is one of the most well-known types of online businesses in the world and there are millions of affiliates all over the world. This is your best bet to reach your 10k a month.Let’s do more math! Let’s say you choose an affiliate network (a place where you find a product to promote) and find a product to promote. This fictional product pays you $25 in commissions per sale (Assuming you choose to do affiliate marketing)In order to reach your $8k a month goal, you’ll need to get 320 sales and that’s if we don’t calculate your refunds. Is it possible to make these many sales? Yes, and no, let me explain.Yes, you can make that many sales and no, it won’t be easy. It’ll probably take you a couple of years to reach that goal but that’s not the main problem…The problem with this business model is the amount of time and effort you need to invest to get a couple of small sales. Generally, it’s not a good idea to depend on a business that runs on $25 sales. Now imagine you are promoting a product which gives big commission rate.Even if you promote a product which gives commission $1,000 per sale, you can reach your $8k a month goal by making 8 sales. Compare 8 sales to 320 sales.(Head over to my bio to know how i earn five-figure passive in every month)
Well, people are earning millions from YouTube. It's not an easy task, but for those who can record and upload videos. Generally, two types of people can create YouTube channels successfully. First, those who can make funny videos and others are those who can create helpful videos.While it is possible to make significant income from YouTube as a content creator, it is not the easiest either. 500 hours of video are uploaded to YouTube every single minute across the world.Numbers don’t lie. Therefore the competition is pretty intense, and making a lot of money online becomes more challenging.Promoting affiliate links can be a massive earning opportunity for channels that offer in-depth tutorials as well as insightful product reviews. For example, if you recommend a product and a user visits your link to buy, you’ll start earning commissions. You can place these links in the first few lines of your description and speak about your link in your video content.For many YouTubers, ads are the most essential revenue stream. As a YouTube Partner, you make money in different ways. You can make money from ads before your videos, channel memberships, or Google AdSense banner ads. Optimize your YouTube channel for sales. Choose your niche, become a YouTube partner, and start planning your marketing funnel.YouTube is one way to spread your message, but you can make more money by using YouTube in unison with a blog. That way you’re collecting more email addresses and eventually selling products to your fan base.Another great option is to connect your YouTube channel with an ecommerce platform like Shopify and sell merch.