How to Earn an Extra $1,000 This Month

How to Earn an Extra $1,000 This Month

Woman teaches calculus in order to earn extra money

How does $1,000 sound? Pretty good, right? With gig apps and side hustles, you might be able to make an extra $1,000 in your monthly income a reality.

In the COVID-19 pandemic, there are plenty of remote and even in-person opportunities to supplement your income. Ask yourself a few necessary questions: what skills can you parlay into a lucrative side hustle? Are you willing to spend money on any materials you may need to get started with your new gig? Do you have the time in your schedule to take on a new job?

If the answers to those questions suggest that a side hustle is in the cards, then go ahead and get started. Read on for ways on how to earn an extra $1,000 this month.

Become a tutor or instructor

Many of us have special skills, and these skills become valuable in a world where many schools are closed for remote instruction.

Udemy and Teachable allow instructors to design and sell their courses. You can also try uploading tutorials to YouTube, though be aware that monetization only kicks in after you’ve built a substantial subscriber base.

Want to teach English online? Look into sites like VIPKID, Cambly, Qkids, and Education First. Math tutors should check out MathElf. Tutors of any subject should try Tutor.com.

If you’re comfortable with the idea of teaching in-person during the pandemic, reach out to local schools, organizations, and community colleges. They may be able to take advantage of your expertise as an instructor.

Rent out a room

Have an unused room or residence? Consider renting it out on Airbnb or Vrbo. Vacation rental sites allow tourists to book accommodations online while you earn part of the rental fee.

Before you rent, read the rules and regulations of your town or city. Look into any special cancellation policies that vacation rental sites have adopted due to COVID-19. Make sure you know what you’re getting into.

Drive for a ridesharing app

Uber and Lyft are two very popular options for chauffeurs. With either app, you’ll use your own personal car to drive around riders in exchange for a percentage of the fare.

Before signing up, keep two things in mind: you’ll need to report earnings appropriately at tax time, and you’ll have to adhere to mandatory safety and disinfecting procedures described on the app.

Pursue dog-sitting or dog-walking

Apps such as Rover and Wag allow you to be compensated for dog walking and dog sitting. Compensation will generally vary based on the app you’re using. Dog walkers and sitters usually set the rates, scheduling appointments with dog owners via an app. If you decide to pursue this gig, make sure to check the app you’re using for COVID-19 rules and regulations.

Take advantage of your skills for flexible and/or remote work

There are so many remote jobs out there. Are you a good writer? Look into writing, proofreading and editing jobs. If you speak a second language, you may want to consider translating or interpreting online. Web design and coding are two lucrative skillsets that might net you a remote job for a business. Upwork, Remote.co, Fiverr, and Glasswork are four sites that you can utilize to apply to freelance job opportunities, many of which are done remotely.

If you’re looking for an in-person job, be on the lookout for a rise in postings for flexible jobs – nurses, administrators, home health aides, and customer service representatives, for example.

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Memphis Associates understands what you are going through, and we want to be there. Memphis Associates wants to remind you to be hopeful, and for many people, hope starts with their finances.

We start by making it easy to succeed with a single scheduled monthly payment much lower than your current interest rates. Memphis Associates wants you to find a new financial soul.