What would you do with an extra $500 this month? Perhaps you’re looking to supplement your full-time job. Maybe you’re retired and are looking for some side income. Or perhaps you’d like to try your hand at the part-time gig economy.
If you’re already stretched for time, making an extra $500 a month might sound like an intimidating goal, but consider this: you only need to increase your income by $16.67 per day for 30 days.
In this article, we’ll show you twenty excellent ways to make more money this month. Some of these ideas can bring in $500 on their own, while others are most effective when combined.
20 Ways to Make $500 a Month
Ready to learn how to make an extra $500 a month? Let’s dive into twenty realistic and creative ways to make extra money.
1: Delivery Service
We’ve all heard about using Uber and Lyft to make money, but COVID-19 has brought freelance taxi driving to a whole new level. Instead of driving people around, consider driving around the things they need.
Whether it be picking up food from a restaurant, grocery shopping, running to the laundromat, or doing any other number of tasks, you can make a good income from offering delivery services if you have a car and a bit of free time.
2: Test Websites
A lot can go wrong when a company builds a website. Even if nothing goes wrong, a functioning website doesn’t necessarily translate into a positive user experience. For this reason, companies pay to hire everyday people to test out their websites.
There are several website platforms where you can apply to test websites. One of the most reputable and highest paying businesses is Respondent. In some cases, you can make over $100 per hour.
3: Become a Social Media Manager
If you spend a lot of time on social media for fun, turning social media management into a side hustle could be an excellent way for you to make $500 a month.
Social media is one of the biggest marketing tools for modern-day businesses. As a social media manager, you’ll need to be an excellent communicator, understand how to use effective hashtags, and have the ability to create enticing ads.
A side hustle doesn’t always have to take up loads of time. With Swagbucks, you can be on your way to making $500 a month by doing the things you’re already doing, such as shopping online.
One of the things that makes Swagbucks so convenient is its versatility. You can earn points for online shopping, watching videos, surfing the internet, and filling out surveys all in one place.
Once you’ve racked up some points, you can redeem them for gift cards at Amazon or Walmart. Alternatively, you can get cash back from PayPal. To date, Swagbucks has paid out more than $480,000,000.
5: Refinance Debt
Sometimes the key to earning extra income isn’t by bringing in new cash but by looking at your current finances. Refinancing your debt can be an excellent way to save $500 or more in a month.
If you have a mortgage, consider refinancing your home. According to Forbes, homeowners might be able to save nearly $300 per month by refinancing.
Refinancing isn’t only for mortgages. Consolidating your credit card debt onto a single card with a lower interest rate can save you hundreds of dollars per month in payments.
As a bonus, consider renting out a room in your home to Airbnb visitors.
Whether you’re already an exercise buff or getting healthier is on your to-do list, here’s some exciting news: you can make money by exercising.
There are a couple of health apps you can use to make money. The first is HealthyWage, where you place a monetary bet on how much weight you want to lose in a timeframe set by you. Should you meet your goal, the app will tell you how much money you’ll win.
Another option is Sweatcoin, which is an app that tracks your steps. The more steps you take, the more Sweatcoins you earn, which are useable to purchase various items on Sweatcoin’s website.
7: Become a Virtual Assistant
Virtual assistants are invaluable to business owners. Startups to large companies alike use virtual assistants to perform administrative tasks to keep their business running.
There’s no one size fits all for virtual assistants—you might input data for one company, edit content for another, and do bookkeeping for yet another.
Because there are many virtual assistants from places like India and the Philippians, you might have to price your services low at first to build up reviews and authority. After that, you can charge upwards of $50 per hour, depending on the task’s complexity.
8: Dog Care Services
Have you ever thought about how to make an extra $500 a month by spending time with man’s best friend? Thanks to websites like Rover, you can be on your way to making tens of dollars an hour through this babysitting dog service.
Whether you’d like to walk your neighbor’s dog around the block, offer house sitting at your home, or run a doggy daycare facility, Rover gives you the tools you need to ensure timely payments and safety for you and the dog.
9: Start a Blog
If you enjoy writing, starting a blog can be an excellent way to bring in extra money. There’s no doubt about it—earning money from blogging takes time. However, if you stick with it, you could find yourself making more than $10,000 from a single sponsored activity.
Start your blogging journey small by adding ads to your website. Programs like GoogleAds will pay you if someone clicks on an ad that they displayed on your website.
10: Be a Virtual Friend
Becoming a virtual friend will allow you to earn money and be a good doer. Now more than ever, people feel increasingly isolated from genuine social interaction. By being a freelance virtual friend, you’ll offer someone the company they crave.
Companies you can work for include Rent a Friend, Rent a Cyber Friend, and Friend PC. While safety is an understandable concern, these websites have built-in safety measures and are strictly for platonic friendships.
11: Drop Shipping
If you want to start your own small business on the side but aren’t interested in investing lots of money, dropshipping could be a great fit for you.
With drop shipping, you can use a company such as Amazon or eBay to ship a product directly to your client without you ever having to touch it. Often, people purchase discounted items in bulk online and then resell them for a higher price. Some people also buy discounted items in stores or on Craigslist.
According to Shopify, you can make up to $100,000 per year in dropshipping.
12: Teach English
This may come as a surprise: you don’t always have to have a degree to teach English as a foreign language. Teaching online virtual classes is an excellent side income for outgoing, service-minded people.
You don’t need much to teach English—a good WiFi connection, some teaching props, and a positive attitude will do. Teaching jobs often start at around $15 per hour, with the potential to earn well over this amount as you gain experience.
13: Publish an Ebook
Writing and publishing an e-book is an excellent way to create evergreen passive income. Thanks to programs such as Amazon Kindle Direct Publishing, you can reach millions of readers.
You’ll get to set the cost of your e-book, and royalties are typically up to 70% of the listed price. If you want to get the most bang for your buck, consider publishing a nonfiction ebook since they tend to sell at higher prices than fiction.
14: Earn Money While You Drive
If you’re planning on doing delivery services in your free time, consider adding a company like Wrapify to the mix. With Wrapify, a business can choose your vehicle to advertise on by literally wrapping their logo around it.
There aren’t any upfront costs to use Wrapify. If you choose their full-time plan, you could end up making $264 – $452 per month. You can also choose a partial or lite level, depending on the amount you drive and your vehicle’s exposure.
15: Become a Freelance Writer
Freelance writing is a tried-and-true side hustle to make extra cash. People with a knack for writing can make hundreds of dollars per month in extra income.
Whether you want to write for a food blogger, a celebrity news website, or do technical writing, there are niches for just about every topic. You can find writing opportunities on websites such as Freelancer and Fiverr.
16: Start an Online Course
Starting an online course can be a lucrative way to make an extra $500—or more—a month. You don’t need to have huge qualifications to start an online course. If you have more knowledge about a specific topic than most, people will be willing to pay you for it.
Putting together an online course isn’t easy. However, once complete, you’ll be able to make money in your sleep for as long as you keep the content published.
17: Affiliate Marketing
You may have heard of people like Pat Flynn, who has earned over $3 million in affiliate marketing commissions. While numbers like this one take time and hard work, making $500 a month in affiliate marketing is very achievable.
There are two main approaches to how you can begin your affiliate marketing journey: include affiliate links in a current blog you have or start a website where you can promote affiliate links.
If you start an affiliate website, make sure to choose a niche topic. That way, you’ll have the best chance of drawing in the types of viewers who will click on the affiliate links and make a purchase.
There are lots of freelance transcription opportunities on the market, and you can make over $25 per hour if you’re quick and experienced. Transcriptionists transcribe audio material into writing.
Transcription jobs can keep you on your toes since you might transcribe a court case one day, a doctor’s appointment the next, and a motivational speech after that.
Becoming a transcriptionist requires a few tools. The most important of these are a laptop, headphones, and a foot pedal.
19: Start an Etsy Business
You’ve surely heard of Etsy, and perhaps you’ve even bought something from it. But have you ever considered using Etsy to help you make money?
If you enjoy arts and crafts, selling your products on Etsy can make you hundreds of dollars a month. Are you on the fence about what kind of products to sell? Some of the bestselling items include jewelry, digital artwork, party decorations, and pet supplies.
In fact, if your products take off, you might be able to excel beyond making $500 in a month and have a full-time income instead.
20: Start a YouTube Channel
You can make money watching videos from apps like Swagbucks but to really ramp up your earnings, try starting a YouTube Channel.
The most successful YouTube channels are those with a narrow niche. Once you build up your audience, you’ll be able to earn money in passive income from advertisements and affiliate marketing.
There’s room to grow far beyond making $500 a month with YouTube. According to Forbes, in 2018, the top ten YouTubers brought in a collective $180.5 million.
There’s no shortage of opportunities when it comes to how to make an extra $500 a month. Whether you enjoy being active, spending time online, or interacting with people, start one or more of these suggestions today. The sooner you do, the quicker you’ll be on your way to earning extra money this month.