What would you do with an extra $500 every month? I personally would save half of it ($250), go out to eat a few extra times each month ($100), and put the remaining amount ($150) towards debt.
Below are five ways you can make an extra $500 a month. Combine all of them for an extra $2,500!
5 Ways to Make an Extra $500 a Month
1. Take Surveys Online
Taking surveys, combined with using money-saving tools (below), could bring in an extra $500 a month combined! Many companies pay you not only to take surveys, but also check emails, watch videos and more. I like to take them while I’m watching TV or instead of scrolling mindlessly through social media.
My favorite survey companies include:
Sign up for all of them to maximize your income each month!
Two other great tools I use to make money are Ebates and Ibotta. With Ebates, you earn cash back for shopping online. If you shop online even once a month, Ebates is a MUST!!! The money adds up fast, and you’ll get a $10 gift card just for signing up!
Ibotta is an awesome app where you scan in your receipt after you shop and earn cash back! It takes just a minute to scan in your receipt and you can earn extra money every single time you shop!
2. Write 10 Freelance Articles at $50 Each
If you write 10 per month (just 2-3 a week), you can make an extra $500. One $50 article can usually be written in about an hour, meaning you can work a few hours on a Saturday morning and knock them all out or break it up and work for one hour three nights a week. Easy peasy.
To get started freelancing, check out my best tips for beginning freelance writers.
Not interested in writing? What about being a virtual assistant? Virtual assistants do a variety of tasks for bloggers and business owners, including responding to emails, drafting blog posts, creating images, scheduling posts on social media, and more.
The average VA (virtual assistant) makes $35-$50/hour!
If you want to become a virtual assistant and actually make a career out of this side hustle, I highly recommend 30 Days of Less to Virtual Assistant Success. In the course, you will learn exactly what it takes to be a VA, how to find clients, how to invoice, how to grow your business, and more! The cost is going up next year so act now!
3. Start a Blog – Place Ads on Your Site and Do a Sponsored Post
Blogging is my favorite way to make money online! Last month I made over $2,000 and spent maybe 10 hours total on my blog. It needs time to build and grow, though, so don’t expect to make $500 your first month.
You can definitely make $500 per month within a few months of blogging, though!
There are two easy ways to do that: Place ads on your site (Google Adsense is great for beginners!) and write a sponsored post. A sponsored post is where a company pays you to write a review of their product or mention their brand within your post.
I usually have companies emailing me about sponsored posts, but you can also email them! You can also sign up with companies that will connect you to sponsorship opportunities. Look into Massive Sway, Clever Girls and Linqia.
I highly recommend starting your blog through Bluehost. Through my link, you’ll get a huge discount at just $2.95/month. I’ll also send you a copy of my book – The Beginner’s Guide to Blogging – for free!
Here’s my tutorial to walk you through How to Start a Profitable Blog!
4. Sell Items Around Your Home
When we moved from Arizona to North Carolina two years ago, we sold items we no longer used left and right. In total, we made over $2,000 on stuff we didn’t use, need or love.
You can easily do the same thing each month! Every weekend, find a few items around your home and list them on Craigslist, eBay or in community Facebook groups. Ideas for items you can sell include:
- Small appliances
- Small electronics
- Kids clothes
- Kids toys
- Baby gear
- Artwork/Home decor
- Outdoor items
- Patio furniture
- Exercise equipment
If you don’t want to sell your own items, consider buying items in good condition from Good Will, consignment shops and garage sales. Then, clean them up and sell them at a higher price yourself. I had a friend who did this (she mostly went to garage sales) and she made an extra $800 per month!
5. Save $500 a Month
And finally, why not try saving $500 a month? The best way to save $500 is to reduce your monthly bills.
Do you have student loans or credit card debt? If so, you can refinance them through SoFi at a lower rate and with better terms. Depending on your loan amount and current interest rate, you could easily knock hundreds of dollars off of you existing payment.
And, if you get approved for a refinance through SoFi, you’ll receive a $100 bonus!
Other ways to save $500 a month include:
- Cut cable (~$100/month)
- Reduce grocery expenses by $25/week (~$100/month)
- Adjust your thermostat (~$75/month)
- Meal plan every week (~$50/month)
- Exercise at home instead of the gym (~$75/month)
- Refinance your mortgage to a lower rate
- Have a “no-spend” month (~$200/month)
- Do an at-home date night instead of paying a sitter and going out (~$100/month)
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What ideas do you have to make or save an extra $500 a month? Share in the comments!