Making $100 a day may not sound like a lot, but it quickly adds up if you manage and invest your money properly. Here’s an example.
Meet John, who is working a salaried job that pays $40,000 annually. He has some credit card and student loan debt, rent to pay, and a laundry list of other bills. John needs more money, and he needs it fast.
So, John finds a way to start making $100 per day online. He does this 7 days per week, for an entire year, making an extra $36,400 — and bringing his total annual salary to a much healthier $76,400 before taxes.
And as it turns out, anyone can do this that’s dedicated to the cause. It’s just a matter of learning how to make money. You could even make a lot more than $100 per day and become very successful while being your own boss.
In this article, you’ll learn why you should strive to make $100 a day and read about some step by step tips and strategies to help get you there. And in the process, you’re going to change the way you think about making money.
How to Make $100 a Day
The most obvious approach for people who want to earn $100 a day is to start a part-time side hustle that supplements your full-time income, making it easier to save money.
In fact, starting a side hustle could be one of the best decisions you make in your career journey. Simply put, it’s a great way to make money fast, and it could grow into something much bigger.
What is a Side Hustle?
A side hustle is an income-earning gig that you take on in addition to your normal job. The whole point of a side hustle is to generate more income. If you’re really good at it, you might even be able to quit your full-time job.
A side hustle can range from a labor job like raking leaves, moving furniture, or shoveling snow in your neighborhood, to tending bar, driving for a ride-share program, and freelance photography. Or, you may choose to find an online job that complements your professional skill set.
In short, if you’re working outside of your full-time job and making money, you can call it a side hustle.
Is a Side Hustle a Good Idea?
Having a side hustle is an excellent way to bring in more money on your own schedule outside of your normal work hours. Starting an online business or working offline can help you pay down debt, plan for retirement, and generally live a happier and more fruitful life — especially if you love what you’re doing.
Just make sure to plan carefully, so that you are prepared to take on the responsibility that comes with whatever you choose to do on the side.
Tips for Starting a Side Hustle
Make Sure Your Job Allows One
Before you rush in and start working for yourself, make sure that what you’re doing is legally in line with what your employer allows. A lot of people tend to rush into the gig economy without properly considering the implications — putting themselves in danger of getting fired or sued.
Working a side job is legal, but you have to be careful about doing anything that may cross over and interfere with your company’s best interests. For example, if you signed a non-compete clause or have access to sensitive information, your company may expect you to be exclusive to them.
If that’s the case, talk to an attorney to get advice before moving forward. Even though many non-competes are non-enforceable, you don’t want to find out the hard way. To be safe, you could look into options that for sure won’t interfere with your full-time job, such as working a manual labor job if your full-time job is in a traditional office setting.
Think Twice Before Quitting Your Job
Once you start working for yourself and making more money on the side, it’s going to change the way that you think about your full-time profession. You may get tired of your job and decide to go off on your own. Before you relinquish that steady paycheck, make sure your income is solid enough to float you and sustain your lifestyle if you make the leap.
As a general rule of thumb, I recommend that your side hustle produces enough income consistently for six months to replace your full-time job. You don’t necessarily need to earn as much as your full-time gig, so long as you know that you’ll be able to cover all of your expenses while you focus on growing your new business.
Manage Your Time Wisely
If you’re used to consistently working (or barely working) 40 hours per week, you could be in for a rude awakening when you start exploring entrepreneurial opportunities. Your 40-hour week could easily turn into 50, 60, or 70 hours — or even more.
Time management, and enjoying your side hustle, is key to making this work. For the foreseeable future, the majority of your spare time in your waking hours will be devoted to making money. This is something all new business owners eventually come to realize.
In time, you’ll get used to the change of pace, and it will get easier as you start bringing in extra income. Embrace the FIRE mindset, and use it as a motivating factor. And an added bonus — many people who start filling their hours with ways of bringing in more money find that they have less time to spend the money they have.
It’s time to put down the video games and start making money — unless, of course, you can find a way to make money playing video games.
Look for Passive Income Opportunities
We all dream of making money by doing little to no work. This is called passive income, and it’s attainable for everyone. It just requires an initial investment in the form of time or money, and some basic work to get started. For example, you may write a book or purchase an investment property. This can yield strong returns over time, allowing you to collect checks without putting forth much ongoing effort.
Obviously, that’s easier said than done, but there are plenty of ways to set yourself up for a stream of residual income.
19 Best Ways To Make $100 a Day in 2021
Now that you have a basic understanding of how and why you should be bringing in more money, here is a list of some creative ways to make this a reality. You can use these money-making ideas to start supplementing your income right away.
- Drive for a Delivery Service
- Start a Blog
- Be a Proofreader
- Affiliate Marketing
- Be a Freelancer
- Become a Virtual Assistant
- Become an SEO Consultant
- Work Odd Jobs
- Sell Your Creations
- Drive for a Rideshare Service
- Rent Your Car
- Online Bookkeeping
- Rent Your Place on Airbnb
- Teach English Online
- Be a Social Media Manager
- Build an Online Course
- Babysit or Petsit
- Sell Products for Companies
- Self-Publish Books
1. Drive for a Delivery Service
Maybe you don’t want strangers anywhere near your car — and I can’t blame you!
Instead, you can make money by bringing people stuff using your own car.
It might not be the flashiest side hustle, but it pays. And you can sign up for one of these services in a matter of minutes.
Companies like GrubHub, Doordash, Delivery Dudes and Instacart hire people to pick up prepared food, groceries, and other items. Then you just have to deliver it to people around town. You get paid by the hour and can also receive tips from customers.
Driving for a delivery service is a great strategy in the post-pandemic job market, where many people are staying in and ordering lunch and dinner from home instead of going out to restaurants. Granted, you might have to drive a lot to make $100 in a day, but it’s not impossible if you live in an urban area.
Postmates is another delivery service to check out, which allows you to transport everyday items other than food, such as office supplies, musical equipment, and pretty much anything other than controlled substances or weapons.
Learn More: 11 Best Delivery App Jobs
2. Start a Blog
Spend some time thinking about something that you’re really passionate about, or a topic about which you have a great deal of knowledge. For example, maybe you are into cars or love discovering money-saving household hacks.
Whatever your passion is you can turn that into a blog or YouTube channel.
Start a site and learn how to write engaging content. You’ll probably need to learn a bit about marketing your site and about search engine optimization to break through to an audience, but there are tons of sources with tips on how to get rolling. Then, once you build up some traffic, you can bring in advertisements that pay you for clicks and impressions.
Good bloggers can easily earn $100 a day.
Blogging Resources:
- How to start a blog [Guide]
- How to start a blog on BlueHost [Tutorial]
- How to launch a profitable blog [Free Email Course]
- Best Web Hosting Services?
- How much money can you make blogging?
3. Be a Proofreader
If creating content isn’t your thing, you can also make money proofreading and editing content. In the process, you’ll gain valuable experience working with professional authors and companies.
Proofreading involves checking for spelling and grammatical errors and making sure that text aligns with corporate policies and procedures. For example, a corporation may hire a proofreader to keep an eye on their blog and make sure that posts align with their values and brand guidelines.
Proofreaders can make roughly $25 per hour, meaning you can earn $100 per day by reading for a few hours in the morning, afternoon, or evenings.
Learn More: Best Online Proofreading Jobs
4. Affiliate Marketing
As a blogger, you can also earn money with affiliate marketing.
This strategy involves embedding links in your blog that take visitors to partner websites. When visitors click on a link and make a purchase, you get a share of the proceeds.
For example, suppose you start a home improvement blog and talk about wood-burning fireplaces. You could add a link or banner ad to a new type of chainsaw, and share in the profits if you drive people to the chainsaw retailer’s website.
Affiliate marketing is not rocket science. You just have to focus on producing quality content and be strategic about how you place links. And don’t sell out! If you think that chainsaw is a hunk of junk, you’ll lose the faith of your readers if you sing its praises just to make a buck. Don’t betray the trust of your audience.
It will take some time to build up your affiliate traffic to $100 in profit each day, but once you cross that threshold, the only limit is how much you want to hustle to make new partnerships.
Learn More:
5. Be a Freelancer
Writing and blogging is a great way to make money, but it takes a lot of backend work. If you’re a talented content producer, consider using your talents to land paid gigs with companies that are willing to pay for content on their digital assets.
Working as a freelance writer or graphic designer is also hard work, as you have to produce quality content quickly and consistently. However, it’s something that you can do on your own time — before work, on your lunch break, or after hours. You can use your own laptop, and work from the comfort of your own home.
If you don’t already have a strong network, the best way to land gigs is to search on freelance websites and job boards. Sites like FlexJobs, Fiverr, and Upwork can also help you find paid opportunities, but they will also charge you commissions for helping you land those gigs.
Another approach is to cut out the middlemen entirely and contact companies directly. This can often be the fastest and most direct way of finding work.
Learn More: FlexJobs Review
6. Become a Virtual Assistant
In the past, being an assistant required you to go into physical offices and spend time behind a desk. But now, thanks to the rise of the gig economy, you could work for several different companies throughout the day.
Being a virtual assistant requires mostly planning, arranging, and scheduling items for other workers. It could also include data entry or other repetitive tasks. For example, you may be asked to file papers or manage a busy executive’s travel schedule or calendar.
In addition to requiring an eye for detail, it also helps to have people skills, since, for the most part, your job will be making other people’s lives easier.
A savvy virtual assistant can line up several small gigs and spend time moving back and forth between operations. By taking this approach you can easily bring in $100 a day working as a virtual assistant.
7. Become an SEO Consultant
Producing or editing content isn’t for everyone. If you’re technically savvy, you can learn how to boost a website’s search engine optimization (SEO) ranking — something that all businesses today are looking for. In fact, this is one of the primary reasons why businesses produce online content. It helps them rank higher on search engines like Google, so when it comes time to make a purchase, that company will show up at the top of the search results.
Once you learn the basics of how SEO works, consider looking for paid opportunities. Then, as you help businesses improve, track your progress, and use it to land more work.
Companies are willing to pay good money for SEO consultancy, and you can make a lot more than $100 per day if you land the right companies.
Learn More:
8. Work Odd Jobs
Computer-based work might not be your thing, but that doesn’t mean you can’t earn $100 a day or more.
Manual labor jobs can earn from $10 to $100 per hour depending on what you’re doing.
For example, you can earn income shoveling sidewalks, mowing lawns, painting houses, cleaning gutters — the list goes on. If you build up enough customers, you can even pay other workers to do the work for you.
Take a look on TaskRabbit or Craigslist for people in your community who need help with projects. Put up flyers in your neighborhood, and get the word out on social media. All of these advertising methods are free.
Doing one job successfully will most likely lead to repeat work and referrals for future projects. Best of all, you’ll get the satisfaction that comes with doing good old-fashioned work with your hands — and getting paid for it!
Learn More:
9. Sell Your Creations
It’s never been easier to sell handmade creations. If you’re a talented artist or have a passion for making crafts, consider putting your skills to the test and selling your items to the public.
For example, website platforms like Etsy, eBay, Amazon Handmade, Shopify, and Squarespace make it easy to set up an online e-commerce store in a matter of a few hours.
If you like to draw, you can put your designs on coffee mugs, hats, t-shirts, and stickers. Or, maybe you like to make clothing or household items like pot holders or ceramics.
You may also want to consider exploring selling in physical locations, like farmer’s markets and street fairs. By going out into the real world, you can meet people face-to-face and showcase your work to a local audience.
Restaurants are another area that you can target too. Oftentimes, local establishments like to showcase and support local artists and will let you display your artwork on their walls.
Once you build up your inventory and reputation, making $100 a day selling artwork is not out of the question.
Learn More:
10. Drive for a Rideshare Service
If you enjoy being behind the wheel and have a clean record, then driving for a ride-share service is a no-brainer.
As an Uber and/or Lyft driver, you can make money on your own schedule by giving rides to people in your local community. Most likely you will need your own car, and it has to be relatively new.
But there are also options to rent or lease cars for the sole purpose of ride-share driving. Just make sure you’re not spending more than you’re bringing in, and watch out for mileage restrictions.
You can also make connections with passengers and offer to be their personal driver. This is a great way to get even more work for yourself. Before you know it, $100 a day will be the least that you make.
11. Rent Your Car
There is an even easier way to make $100 per day using your car, and you don’t have to do any work at all.
A service like Turo allows you to rent your car to others. It works just like Uber, except instead of picking someone up, the renter comes to you, picks up the keys, and returns the car when they are done using it.
The hardest part about renting your car is getting over the fear of allowing strangers to access your vehicle. Fortunately, Turo offers unique security features and insurance to protect your investment when it’s being used by the public, so there’s no need to worry.
12. Online Bookkeeping
Do you like managing spreadsheets and accounting tasks? If so, look into online bookkeeping. As more businesses transition to digital operations, the demand for this service is growing each day.
Online bookkeepers that have several years of experience can charge from $50 to $100 per hour. You might have to start lower than that to build your business up, but once you land a few good clients, $100 a day is easy to hit.
Look for clients on sites like Upwork and GoLance. All you need is a laptop and access to Google Docs and Microsoft Excel.
Learn More:
13. Rent Your Place on Airbnb
Millions of people are renting their apartments, condos, homes, RVs, and even sailboats on Airbnb. Whether you have an entire home or just a spare room, renting out your place is a growingly popular side-hustle.
Unfortunately, Airbnb renting isn’t legal everywhere, and many apartment complexes prohibit it. Before listing your place, review the local regulations or your homeowner’s association rules to ensure that using Airbnb (or an equivalent service, like VRBO) is allowed.
Check the going rates for similar units to yours to get an idea of what you can charge. Hitting $100 a day is easily doable in a high-demand area. If you live in a low-demand area, you might have to get creative. For example, you could charge extra for add-ons like breakfast or local excursions.
Learn More:
14. Teach English Online
These days there are countless ways to teach English online and loads of people who are willing to pay to improve their speaking ability.
For example, you could start teaching English with Vipkid, which is essentially a massive online tutoring platform. You can also create a language-learning gig through Ucademy. Both of these sites are reputable and can help you make money online as an English teacher.
Teaching English is also a fun way to connect with people all over the world. Making money and enjoying the process is one of the best things you can ask for.
15. Be a Social Media Manager
Many of you are probably aspiring YouTubers and savvy with social media. Turning your hobby into a profession is as simple as finding a company that needs help managing its social media pages.
Thousands upon thousands of businesses need help attracting followers on social media. You can run a YouTube channel, Facebook page, Instagram page, Twitter feed, Snapchat profile, TikTok profile … the list goes on. And each day, there’s an increasing demand for quality social media content.
You can charge between $15 to $100 or more per hour as a social media consultant, and you don’t need any particular certification to do it. By picking up just a handful of clients, you can easily earn $100 a day.
16. Build an Online Course
Recent advancements in e-learning make it possible for anyone to create online courses for a fraction of the cost as in the past.
This means if you have a passion or an idea for a course, you can build it out, upload it to an online course platform, and charge people a one-time or monthly fee to take it.
Teachable, Skillshare, Thinkific, Udemy, Showtime, and Learnworlds are some of the top online course platforms to investigate.
This is not a make money fast approach, because it will take time to gather enough subscribers to generate $100 per day, but it’s entirely possible to get there. And once you do, you’ll be earning real passive income, because you’ve already produced the course and don’t need to teach it in real-time.
17. Babysit or Pet Sit
Are you the type that loves pets and kids? If so, both babysitting and pet sitting are well-paying side hustles that are right up your alley.
The odds are you have at least one or two married friends or family members who are busy with kids and pets and could use a break. Test your network and try to land a few clients who will trust you to watch their kids or pets while they work or go out of town. You could also post ads in your community, or use online platforms like Care.com and Rover to connect with paying gigs.
If you’re reliable and build up a solid client base, you could make $100 per day by splitting your time among a few different households each week. You can earn even more if you offer other services like cleaning, cooking, or shuffling kids to school and activities. Tutoring is another service that is in high demand right now.
Childcare and pet-care are fun and flexible ways to put extra money in your pocket, and you can help people that you care about in the process. This line of work certainly isn’t for everyone, though. If cleaning up after pets and changing diapers isn’t your thing, kindly refer to the other gigs on this list.
18. Sell Products for Companies
Why not try your hand at making money the old fashioned way, selling products for companies?
Use your wits and identify some early-stage startups who are looking for enthusiastic sales professionals to help grow their programs. Oftentimes, you don’t need any relevant experience to join a sales team. All you need is to have people skills and enthusiasm, and the company will train you about how to sell their products.
It may take some time to get to the point where you’re bringing in daily revenue, but if you keep at it, you can unlock some exciting opportunities and potentially get your foot in the door at a fast-growing company. And if you’re doing it on a freelance basis (in other words, as an independent contractor) then you won’t have to deal with the pressure of meeting quotas or sales goals.
19. Self-Publish Books
Another way to make money writing is to create books and sell them in digital marketplaces like Amazon Kindle Direct.
Self-publishing presents a way to move forward with your writing passion, but without the hassle of dealing with a publisher and editor. This can require more work on your end since you will have to do more preparation to make your book ready for public consumption. But at the same time, this route comes without many of the barriers that prevent talented authors from being discovered and profiting from their work.
When you self-publish, you can charge your own prices and receive a cut every time someone downloads your book. Amazon even gives you the ability to make your story available in paperback form, so that you can have a physical copy to offer.
Tips for Making Extra Money with Side Hustles
Use a Variety of Payment Services
Once you get some side gigs churning, it’s a good idea to have a variety of payment apps on hand, so that you can collect money quickly and effortlessly from the people you work with.
You’ll find that some clients prefer direct deposit, while others like Square, PayPal, or Venmo. Some might prefer to pay cash or send paper checks in the mail. Either way, make sure you are ready.
Keep Careful Financial Records
It’s also important to keep careful financial records and to set money aside so that you can pay taxes on it. When working as a freelancer, you will most likely be required to pay self-employment taxes.
Best practices typically call for setting aside roughly 25% to 30% of each check so that you have enough to pay the IRS when tax season rolls around. Contractors sometimes get into trouble thinking that their companies take care of taxes, however, as a 1099 employee, this responsibility falls on you.
When the money starts adding up, it might make sense to consult with a tax professional who can advise you on how much taxes you owe and also help you maximize your deductions. For most successful side-hustlers, hiring a tax advisor pays for itself.
Learn More:
Slash Your Personal Budget
As the saying goes, money saved is money earned. And if you’re like most consumers, then you’re probably shelling out money on things that you could easily do away with.
For example, think of your five video streaming services, your weekly grocery bill, or even the car that you’re driving. Look for small ways to cut your budget, and watch as money pours back into your checking account.
It’s also a good idea to develop a budget. Not only does this prevent you from overspending, but sticking to a budget can help you pay off debt.
Simply put, taking the right approach toward budgeting is a proven way to put money back into your own pocket.
Avoid Burnout
One of the downsides of being on the hustle is that if you overdo it, you can burn yourself out pretty quickly. This is a state of mental and physical exhaustion, and I’ve been there myself on more than one occasion.
To avoid this, make sure to pace yourself. Say no to work when you need to, and only focus on the types of work that you enjoy doing.
This might mean earning less than you might be able to on any given day. For example, it might mean turning off your ride-sharing app, instead of keeping it on for one more hour. Or saying no to the extra babysitting gig after you’ve already worked and are exhausted.
Take my word for it: Over the long haul, you’ll be happier and able to earn much more if you avoid burning out.
Invest Your Earnings
If you’re in a position to put money aside into the stock market, you should strongly consider doing so. This way, over the course of many years, your income can grow exponentially.
And once you start investing enough cash, you’ll be earning at least $100 each day by simply letting your money sit untouched, assuming you make intelligent investments into great companies. If you’re an avid reader of my blog you already know that this should be everyone’s goal.
Frequently Asked Questions
Are cashback and survey sites like Ibotta and Swagbucks worth it?
Cashback sites like Swagbucks and Ibotta can make you some money but it’s highly unlikely you can ever earn $100 per day. This is for two reasons.
First, it’s hard to make serious money on a site like Swagbucks because most surveys do not adequately pay you for the amount of time that it takes to complete them. Second, many survey sites pay in gift cards rather than cash.
As for Ibotta, this is a website and app that lets you earn cash back based on everyday purchases. This means you are not making money — you’re spending it.
At the end of the day, these types of services should be used as supplementary sources of income. They aren’t scams, but don’t expect to get rich using them.
Is having a full-time job a bad idea?
There is a growing attitude that working a full-time job is a bad idea and that it will limit your true earning potential. However, only you can make that distinction.
The truth is there is a certain amount of freedom in working a 9-5 and having nights and weekends to yourself. You’ll benefit from a steady paycheck, and you’ll have more free time to take on additional money-making opportunities.
Heading out on your own takes careful planning, discipline, and hard work. It could also take a long time to get to the point where you’re earning more than you would by working for a traditional company.
Is it a good idea to buy stocks?
Yes. Buying stocks (and eventually selling them) is an excellent way to make extra cash and you can easily earn $100 per day doing so. However, the stock market can be volatile, so you can also lose much more than $100 a day if you aren’t careful.
If you do enter the market, there are ways to set yourself up for long-term success.
The first step is forming an investing strategy that aligns with your financial goals. For example, are you looking for short-term growth, long-term gains, or both? Do you prefer to be an active trader, or would you rather invest in a company (or in a fund) for decades to come?
In time, you can generate strong profits in the stock market, so long as you make the right investment decisions.
Is cryptocurrency a solid investment?
Many of you are probably looking at Bitcoin with serious FOMO. However, before you rush in and buy some, take the time to learn how cryptocurrencies like Bitcoin work. They are even more volatile than the stock market, and if you’re not careful you could lose all of your money investing in tokens.
Generally speaking, cryptocurrency is a risky investment. I recommend that it only comprises a small amount of your overall portfolio. Again though, this is something that only you can determine based on your risk tolerance.
The Bottom Line
The bottom line is that almost anyone can bring in an extra $100 a day. It’s just a matter of finding a special skill that makes you unique and using that skill to make money.
Hopefully, you’ll enjoy the work you find and the money that comes with it, but be sure to maintain a balance and avoid burnout. But if you take the right approach, you’ll discover new things about yourself, make interesting connections, and enjoy more financial security.
As you can see, the benefits of bringing in an extra $100 a day extend beyond just making income. It can change your life and make you view money in a whole new light.
Most importantly, you can stop waiting for raises or handouts from work and start getting it on your own.
If you want to bring in an extra $100 per day, then you’re going to need to start a side hustle, which is a secondary source of income on top of your full-time job. An ideal side hustle lets you work flexible hours while doing the things that you love.
If you want to bring in an extra $100 per day, then you’re going to need to start a side hustle, which is a secondary source of income on top of your full-time job. An ideal side hustle lets you work flexible hours while doing the things that you love.
Now that I have spelled out how to make $100, it’s time to get to work! Eventually, you’ll be bringing in money on a daily basis and on the path to financial freedom. I promise that you will never look back.
from Make – Millennial Money https://ift.tt/3pSTADL
February 06, 2021 at 01:39AM
No comments:
Post a Comment