We all need enough money to pay our bills. Many of us want to know how to make 10k a month. Some of us want to understand how to make 100k a year.
Why are these specific numbers so critical in the eyes of marketers? What are some ways that you can achieve these numbers? Are some ways more straightforward than others? Grab some coffee ☕️, and let’s get into it!
Pssst… You can definitely make 10000 a month as a blogger. Many of us are already doing it. Check out my Make Money Blogging guide to find out more details! I also have a guide on how to make money online for beginners that is worth a read if you just generally want to make money.
Why Make 10k a Month, or Make 100k a Year?
CreditKarma says the median household income in the United States is around $67.5K. Simply put, this number should represent a meager standard of living for the average American household of 2.6 people. With this money, an average American should be able to cover their rent, utilities, car note, food, gas, cell phone, and other bills. It should also allow the same family a little bit of extra entertainment.
Conversely, reality shows us that most households are struggling. A constant barrage of news stories tells the tale of most American adults needing to take 2-3 jobs to cover their basic living expenses. What’s worse is those same adults spend all of their time working, so even if they do have extra “fun money,” they do not have the time to spend it. The bottom line is:
The average household income is not enough to provide a quality life.
Before enjoying the spoils of the top third of income earners, you must earn more than the median income. At $67,500, you will take home around $4,500 monthly. If you could boost that income amount to double what you bring home now, you could easily afford to do some extra activities, assuming you keep your same standard of living. Learning how to make 10k a month could get you closer to that goal.
Think about that for a second. If you learn how to make 100k or more this year, what can you do with that extra $5,000+ a month? Would you buy a new luxury car, adding a $1,500 payment to your responsibilities? How about buying a house, requiring a few months of savings for a down payment and a new monthly rent responsibility?
Maybe you would start a business, enabling you to make more money. Perhaps a family vacation is in order. Who knows?
The possibilities are endless. The simple fact is with more money; you have more options. Money will allow you to choose how you want to spend your time. You might not have to work 2-3 jobs anymore, meaning you have extra “free time” to do what you want.
More money = more “time freedom.” More “time freedom” = more enjoyment.
People focus on these two numbers because of the promise of more enjoyment. When you bring double your current income home each month, you will enjoy working less and enjoying more.
If you can learn how to make 10k a month, most of your current financial worries will be solved, and you can start spending your time enjoying life. This is the dream that drives most people toward this goal. From personal experience, I can say that the hype is true.
How to Make 10k a Month or 100k a Year
When you search for “how to make 100k a year,” the available content for the topic aims to identify ways to make money from a side hustle. While it is true that you can get paid from a side hustle, a single side hustle will only get you so far on its own. A more comprehensive plan is needed if you want to replace your income, let alone double it.
If you are only interested in side hustles, I have a great guide showing you how to make money online for beginners, which will show you how to make passive income and other easy ways to make good money. My suggestions can help you start a side hustle to make extra money from home with only a little effort on your part. You may learn how to make 100k a year by combining only a few of those ideas, so it is worth taking a look.
On the other hand, if you want to build a business that will help you earn money or make extra income to reach your 10k a month goal, we will explore some options below. These ideas can net you six figures a year without forcing you to work 2-3 full-time jobs.
There are even ways to make money without a job at all. Take my wife and me as an example. We make money primarily through passive income sources that require little or no daily work.
Passive income is an easy way to make money.
Earning 6 figures does not have to be out of reach. You can even make millions if you employ the right strategy. Let’s talk about ways to increase your income and make real money. These ideas can help you learn how to make 10k a month.
The Traditional Way
If you ask your parents, teacher, or boss how to make 10k a month, they will almost all respond by telling you to pursue the traditional route: ask for a promotion or raise. While this route has become vilified in recent years, it is one of the most valid ways to make extra money.
In fact, this is the way many earners have learned how to make 100k a year. Starting a conversation with your boss about a raise or promotion can be daunting, but it does not have to be.
It can be worth the conversation since you could earn 10,000. You may feel out of your comfort zone now, but imagine if you earned 10,000 a month from a job you already love!
When you start a conversation with your boss, the most important thing to remember is they want something. It is not enough for you to want to earn 10k a month. They need something in return for this extra money they are giving you.
An excellent place to start is to remind them of all the great work you have already done for them. I recommend creating a list of your accomplishments while working at the company.
Another thing I would do is list out the additional things you would be willing to offer the company in exchange for the opportunity to earn more money. Keep these to yourself during your conversation with the boss unless the conversation slides towards you doing more work. This can be one of the most effective ways to get what you want.
Remember, the boss is keeping the company in mind. Unless you are truly exceptional, there is a good chance they will ask for more from you before they fork over more money.
If you are set on keeping to the traditional job route, hopefully, these tips will show you how to make 10k a month through promotion from your boss. There are other ways you can make this kind of money, though. Let’s run through some of them.
Entrepreneurship
With that out of the way, let’s move on to something more mainstream, at least in the 2020s. You can make money by starting a business of your own. Take your boss out of the equation and make your idea come to life, with yourself at the helm guiding the ship. When you own a business, you can make money on almost any front you can think of as long as it is legal.
Entrepreneurship can be one of the most rewarding ways to earn more money.
Building something from the ground up gives you a sense of purpose and connection. You are more inclined to put in the extra time it takes to be successful if you are the owner. Learning how to make 100k a year will be no problem for you.
This is why successful entrepreneurs are frequently cited as being driven and passionate. You can make extra cash however you want, not how your boss wants. Without your boss in the way, you can get paid to show off your valuable skills to paying customers.
Many people who try this method want to be an “innovator” instead of a “business owner.” Sure, you could invent the next Facebook, Tesla, or ChatGPT. You could also start a very successful “business services” business, where your primary way to make money is shipping packages or making copies.
Both paths are valid and can help you make good money. You can even make extra money from home using these businesses if you have employees running the place.
Understanding how to make 10k a month requires knowing you do not have to be the next Elon Musk. The mom-and-pop mailbox store down the road can make 10k a month too! It does not require combining several side hustle ideas to make 10k in 30 days. Having one solid business with a reliable customer base is all you need.
Buy a Business
You can shortcut the business ownership path by buying an existing small business. These can be already-profitable turnkey businesses. They can also be businesses that need some improvements.
Regardless, investing in an established business can give you that jump-start toward making money. It can be one of the best ways to make 10k a month or more! Learn how to make 10k a month by buying a business that already makes 10k monthly.
Earn money from a small business you bought to make money fast compared to starting one.
Some business owners consider this the best way to make six figures. They make money on the side by buying successful businesses and adding them to their portfolio of businesses. These owners earn cash by buying a business, making some process improvements, paying staff to run it, and sitting back & collecting the money it brings.
Many of these owners learn how to make 10k a month without ever putting in the work themselves. They understand that they are time-limited and that to truly make good money, they need other people to perform the work while they grow their business.
That one idea is the key to learning how to make 10k a month as a business owner. Your idea takes time, and you only have a certain amount. You scale by paying others to use their time to make money for you.
By buying a business, you circumvent the long process of developing a brand, a customer base, business processes & procedures, and a niche that is strong enough to generate income. Instead, those things are already taken care of for you by the previous owner. You can spend your time improving what is already established.
The employees already associated with the business will run the day-to-day for you. Meanwhile, you analyze and improve operations and grow the business. Or you can move on to buying a second, third, or nth business for your portfolio.
Do the Hustle
Have you ever asked yourself, ” how can I make money with <insert a skill you have>? ” Many people ask that question every day. When looking up “how to make 10k a month” online, most, if not all, of the available advice directs you to be a “hustler.” You are inundated with courses promising to teach you the best ways to make money.
The truth is you can earn cash by being a hustler! You can start earning a passive income just by hustling to set up passive income streams.
There are plenty of side hustles to make 10k a month, many of which can be part time. Want to know how to make 10k a month from home? Any skills you have that others do not have can be turned into a side hustle!
Even adding affiliate marketing to your existing blog could be a side hustle that can help you earn 10,000 a month! Can you increase your personal finance stability just by adding an affiliate link? Yes, and there are many people who already achieve it because they are using an effective strategy!
Start a side hustle to earn passive income.
Hustling does require a lot of work and dedication. You can make 100 dollars a day or more by just setting up a few side gigs. Discovering how to make 10k a month from home through side hustles involves putting all of your skills to good use and even stepping out of your comfort zone a little. Check out my guide for side hustles, where I share 30 ways to make money from the comfort of your couch.
But the possibilities do not stop at those 30. Almost any skill can be monetized. At the very least, you can create an online course to teach others some of your skills. Then you can funnel customers to that course.
You can have a side hustle for anything. Some examples are virtual assistant, freelance writing and freelance writers, social media managers, and web developers. This is not a comprehensive list though, as any skill can be a side hustle!
Do you want to know how to make 100k a year? Many people in the modern world make six figures purely through side hustles. All it requires is a bit of research, time investment, and dedication.
Become an Investor
Sometimes learning how to make 10k a month from home might seem overwhelming or too much work. What if you want to have the power and influence of a six-figure income without directly generating it yourself?
You could always invest in someone else’s idea if you have some startup capital. Do you want to know how to make 100k this way? They will do all of the work through sweat equity, and you only need to provide some seed money to get the idea off the ground.
Investing is the best way to get 10k a month income.
Remember what we talked about above under the Buy a Business section? You are time limited. The only way to earn passively is to lean into that idea. Pay other people to do the work while you spend time growing your business or portfolio.
This is how most billionaires get there. They invest their money in promising people who then turn around and fulfill their promises by creating successful businesses.
Understanding how to make 100k a year or more requires understanding the fundamental concept: you cannot and should not do everything yourself. Earn money on the side by investing in other people who are working on it full-time.
Passive money comes to those that invest in projects that start out passive. Buying a full-time job for yourself is not the only way. Find people who want a full-time job and give them money to do it while you collect the profit.
Take Action
This was simply meant to introduce you to some concepts that can make you rich. Learning how to make 100k a year or more requires research and a little creativity. Not all paths lead to that 10k a month mark, and because of that, you need to be selective in where you invest your time and money.
I learned how to make 10k a month through trial and error. My goal is to help you circumvent some of that process and help you see how to make 100k a year without as much “error” as I had. Above, I tried to only share things that have the potential to help you earn a high income. The shortlist intentionally excludes methods that will never help you make 100k, like “passing out flyers” or “mowing lawns.”
I have done and seen success with each of the things I mentioned above. My last traditional job was at Google as a Software Engineer. The money I made was extremely good, but it was hard work.
I have started, bought, and sold multiple companies and seen success. My side hustles have almost always generated a profit. By far though, my most considerable profits came when I started investing in people.
Everyone’s journey is different. Learning how to make 10k a month from home will be different for you than it was for me, if for no other reason than you have read this post. I have seen success, and with the appropriate amount of effort, I am sure you can too. Time to take action and start earning that 100k today!