Yes, most people would consider $10,000 a month to be a good income. If you earn $10,000 a month, your gross income will be $120,000 a year. For the average person, that's more than enough to live on, and you'll likely be able to build a healthy savings with that income as well.
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You won’t make $10,000 sitting on your hands, but you can rack up a lot of extra cash if you use these strategies.
What would you do with $10,000? Whether you’re looking at how to pay off your debt, travel the world, or just a few ways to make money, earning $10,000 a month is totally plausible if you make a commitment to be smart and work hard.
While it’s not exactly a cinch to stack up $10,000, doing so also isn’t as difficult as you might think when you're daydreaming of how to make money. Anyone with the right mindset can motivate themselves to start earning more, whether that’s with a new job, a side hustle, an investment opportunity, or some combination of all three.
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How do I make $10,000 a month?
Instead of waiting around or playing lotto, let’s dive into some ideas to make your dream earnings a reality. It all starts with setting a goal and developing plans to succeed.
Set a goal
Since your goal in this instance is to make $10,000 per month, try breaking it down further into how much you should be earning per day so it doesn't seem as intimidating. Chunking your goal into actionable steps will help you understand what you need to do to achieve it.
With an average of 30 days each month, you'll need to make about $333 per day, every day, to reach your goal. Now that you've got that number sorted, you can start asking yourself how you'll make it happen. In this case, I suggest putting on your entrepreneurial cap and figuring out which money-earning methods will offer you the biggest returns.
Go ahead and start brainstorming, keeping your goal at the forefront of your mind:
Make a plan
Next, it’s a good idea to map out how you’ll achieve your goal. List what you’ll need to do to prepare, set daily or weekly goals (or both), and track your progress to keep yourself motivated.
One way to do this is with pen and paper. At the top of your planning sheet, write “How I’ll earn $333 per day and $10,000 per month.”
Then, if you’re interested in selling a product, jot down:
Ideas for what you could sell
How you would source the product
Where and how you’d sell it
Or if walking dogs sounds like fun to you, map out:
What service you’ll use (Rover, Wag, etc.)
How much you’ll charge (if you can set your own price)
How many hours per week you’d need to work to meet your goal
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There's more to planning consecutive $10k months, but this is a good start. If you need help setting and tracking your goals, use the technology available to you. Apps like Strides make it easy to create all kinds of goals and monitor your progress.
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Create a timeline
Now that you've got the goal and the plan, it's time to create and stick to a timeline. Without one, you may get hung up on too many small details, which can hold you back. A timeline can help maintain forward momentum – you've got a goal to see through!
Depending on which way you've decided to earn money, your timeline for beginning can vary from one day to months or beyond.
5 ways to make $10,000 a month
Get paid to deliver takeout (and set your own hours!)
DoorDash pays you for delivering takeout to hungry customers. And the best part? You get to be your own boss and set your own schedule. When a customer places an order at one of the hundreds of DoorDash restaurants in your area, including favorites like Starbucks and Chipotle, the app then pushes that order to nearby Dashers who are logged in. Simply accept the pickup, get the food, drop it off, and get paid!
You get to keep 100% of the delivery fee plus any tips or boosts. Dashers earn an average of $15-25 an hour. 1
Work as much or as little as you want. You set your hours, so the earning potential is up to you. To be a Dasher, you'll just need to be over the age of 18, and have a vehicle and a smartphone.
Shop on your own schedule and earn cash
Instacart offers same-day grocery delivery to customers, and it recently announced its hiring 300,000 new Instacart shoppers to meet growing demand. If you love shopping and setting your own schedule, this might be the perfect side gig for you.
It’s simple to sign up, you can get paid weekly, and you can choose whether you want to shop and deliver groceries, or just do the shopping. Instacart will tell you which days typically have the most orders, so you can easily maximize your earnings. Happy shopping!
Invest in blue-chip stocks for as little as $1
Purchasing a stock share in an established company, such as Apple or Amazon, can be cost-prohibitive for many beginner investors.
Fortunately, becoming an Apple or Amazon shareholder just got more affordable, thanks to Stash. Stash allows you to buy fractional shares for as little as $1, so you can afford to get a piece of companies that are household names. It also offers useful tools and guides to help you start building your portfolio.
For a limited time, Stash will give you $5 to invest when you make your first investment.
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If you have a particular skill set, like writing, coding, or web design, consider creating your own website and using it as a launchpad for a new side hustle. Build a portfolio page showcasing your work, add some SEO-friendly copy, and promote your site and services through your social networks. This approach may require some hustle on your part; however, if you build a large client base, you’ll be well on your way to earning 10K a month.
Given that Facebook now has over 2.45 billion monthly active users, it’s no wonder that it’s one of the most popular advertising channels for companies of all sizes. And the good news: Those companies need help writing their Facebook ads and optimizing their campaigns.
If you want in on the action, you can get certified in Facebook ads — and it won’t cost you a penny. For a limited time, Digital Marketer, a top learning resource for digital marketing professionals, is offering all its DM Lab courses for free. Whether you’re interested in learning about social media advertising, content marketing, email marketing, or copywriting, there’s a course available for you. There’s no better time than now to learn a new skill!
Get started with DM Lab today
FAQs about how to make $10,000 a month
Is it possible to make $10,000 a month? With the right strategy and lots of dedication, time, and possibly some luck, it is possible to make $10,000 a month. If you are currently working full-time, picking up a lucrative side hustle and making the right investments may help you achieve your monthly income goals. Is making $10,000 a month good? Yes, most people would consider $10,000 a month to be a good income. If you earn $10,000 a month, your gross income will be $120,000 a year. For the average person, that's more than enough to live on, and you'll likely be able to build a healthy savings with that income as well. How should you invest $10,000? How you'd prefer to invest $10,000 depends upon your financial situation. Some may choose to set aside that money (or a portion of it) in a high-yield savings account, money market account, or CD. Others may choose to invest their money in a retirement account like an IRA or 401(k) or the stock market.
The bottom line
You’re not going to score $10,000 per month watching Netflix or napping (unfortunately). But with a strong work ethic and sense of determination, there’s no limit to what you can earn by picking up a few side hustles.
Remember that if you don’t enjoy a gig or don’t end up earning enough, there are a slew of money-making opportunities available to you. If at first you don’t succeed — you know the rest! Hang in there, and you’ll be well on your way to making some serious moolah.
Wager Mage
Photo: Fauzan Fitria
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