Guest Sign UpLoginNew PostSections ₦0What's Up?DownloadsShopChatToolsAdvertise
Join the Publishers' Program. Get paid for writing.
Recharge DSTV, GOTV, StarTimes, & PREPAID METERS on

Mr A

Table of Contents

  • Your Earning Potential: The Basics
  • Top Ways to Make £1000 Extra Per Month
  • 1. Freelancing
  • 2. Tutoring
  • 3. Selling Products Online
  • 4. Renting Out Your Property on Airbnb
  • 5. Participating in the Gig Economy
  • 6. Dividend Investing
  • 7. Creating and Selling Digital Products
  • 8. Monetizing Your Talents
  • Tips for Reaching the £1000 Extra Per Month Goal

Your Earning Potential: The Basics

Making an additional £1000 per month is an achievable goal for many, but it does depend on several factors. These include your current time availability, skillset, and the potential return on investment (ROI) in the methods you choose to implement. This article will showcase several means through which you can earn this supplemental income, but it's important to note that your success will largely rely on your dedication and perseverance.

Top Ways to Make £1000 Extra Per Month

Whether you're trying to create a new income stream or looking to make some extra cash on the side, there are numerous ways to make an additional £1000 per month. Here are eight proven methods:

1. Freelancing

Several professionals choose to make extra income by offering their services on the side. Some popular freelance niches include:
  • Writing and editing
  • Graphic design
  • Web development
  • Video editing
  • Social media management
  • Virtual assistance

To begin your freelancing journey, simply select your area of expertise and sign up on one or multiple freelancing websites such as Upwork, Freelancer or Fiverr to showcase your talent and land clients. It may take time to build a reputation, so don't be afraid to begin with smaller, low-paying projects to establish yourself and gather positive reviews.

2. Tutoring

Offering your knowledge in your area of expertise is another way to generate supplemental income. Whether you're a Math whiz, coding guru or language expert, there is a demand for skilled tutors. Tutoring can be done online or in-person, depending on your preference and location. To start, register on websites like Tutorful, Superprof or Tutorhunt, or create a profile on a tutoring marketplace such as TutorMe or Preply. Don't forget to promote your services across your personal networks as well.

3. Selling Products Online

Selling products online can be lucrative if you find the right products and approach. There are several platforms to sell products, including eBay, Amazon, and Etsy. The key is identifying items that are in demand but have relatively low competition, and then sourcing or creating those products cost-efficiently. Here are some ideas:
  • Selling used items or vintage goods (eBay)
  • Curating fashionable clothing (Poshmark or Depop)
  • Creating handmade items (Etsy)
  • Sourcing products from wholesalers (dropshipping)

4. Renting Out Your Property on Airbnb

If you have a spare room or an underused space in your home, renting it out on Airbnb can generate substantial income. To get started, create an Airbnb host profile and list your property with clear, high-quality images and an accurate description. Research similar listings in your area to price your space competitively, and focus on maintaining excellent guest experiences to increase positive ratings and reviews. A clean, welcoming space and prompt communication are key to success.

5. Participating in the Gig Economy

The gig economy provides numerous opportunities to make extra cash by completing tasks for others. These tasks span a range of categories, from driving to shopping and other errands. Download relevant apps, such as Uber, Lyft, or TaskRabbit, and dedicate time to these gigs. If you are diligent and efficient, you can accumulate a significant amount of money each month.

6. Dividend Investing

While dividend investing requires initial capital, receiving regular dividend payments can provide a relatively passive income. By investing in stable, dividend-paying stocks, you can receive a share of the company’s profits periodically. Research companies with a strong track record of consistent dividends and long-term growth potential in order to maximize your returns. Bear in mind that investment comes with risks, so consider your financial situation and consult a financial advisor if necessary.

7. Creating and Selling Digital Products

Creating digital products is an increasingly popular means of generating income online. Consider your skills and areas of expertise and create valuable resources for your specific audience. Examples of digital products include:
  • Ebooks or digital guides
  • Online courses
  • Photography, illustrations or graphic design templates
  • Website themes or plugins
  • Mobile apps

Sell these products through platforms such as Amazon Kindle, Udemy, Etsy, Creative Market or on your own website.

8. Monetizing Your Talents

Using your unique skills, you can provide services or create products that people are willing to pay for. From custom artwork to music lessons, here are a few ideas for you to consider:
  • Creating and selling prints of your artwork
  • Offering music lessons (instrument, singing or songwriting)
  • Teaching dance or fitness classes in your community
  • Providing personal styling or drop-in hair and makeup services for special events
  • Performing at local events, such as DJ services or live music

Tips for Reaching the £1000 Extra Per Month Goal

While these methods offer various avenues to generate extra income, your results will depend on your effort and level of commitment. To increase your chances of success, consider these tips:
  • Set clear financial and time-based goals: Detail how much you want to earn, how many hours you will commit weekly, and what milestones you want to achieve within a specific time frame.
  • Be proactive about your schedule: Allocate regular work hours to your side gigs and stick to your deadlines.
  • Stay disciplined and focused: Remain committed even during slow periods or setbacks.
  • Invest in personal development: Continuously improve your skills in your chosen niche to stay competitive.
  • Diversify and optimize: Try multiple income sources to generate the desired results and optimize the ones with the highest return on time (ROT) and investment (ROI).
While each approach detailed in this guide can help you generate an extra £1000 per month, consistency and determination are the keys to success. With patience and effort, you are well on your way to achieving your financial goals.

Follow @JalingoHQ on twitter.

Related Topics

Top SectionsSee More

This forum does not have any topics.

Top Posters This Month (500 Credits)
(See More)