How To Make $500 A Month?
Making ends meet can be tough, especially with the cost of living so high. Having an extra $500 per month could provide much-needed relief in your budget.
But how can you generate that much money on a monthly basis on top of your regular job? How to make $500 a month online or offline with minimum effort?
Well, don’t worry. There are many practical side hustles like paid surveys, ridesharing, freelancing, and reselling that allow you to realistically earn an extra $500 per month through leverage of your skills, space, or free time.
In this article, we will look at 17 smart side hustles that can reliably generate $500+ extra per month. We will break down how each income stream works, look at earning potential, and explain exactly how to get started.
How to Make $500 a Month Online and Offline?
Below are the 10 ideal ways to make $500 online and offline with little effort and motivation:
1. Get Paid to Take Surveys
It’s simple to get additional money each month by doing online surveys in your leisure time. You may get paid to express your thoughts on a variety of products, services, and other topics on several reliable survey websites and mobile applications.
To get started, sign up on platforms like:
- SurveyMonkey Rewards
- Vindale Research
- i-Say by Ipsos
Most surveys pay between $0.50 to $5.00 each, and many can be completed while you’re watching TV or commuting. If you spend an hour a day doing surveys, you can expect to make $100 to $200 per month.
2. Freelance Your Skills Online
Freelancing your skills is a flexible way to earn extra income each month. There are lots of great freelance jobs you can do online, including:
- Graphic design
- Web development
- Virtual assistance
Freelancing platforms like Upwork, Fiverr, and Flexjobs allow you to set your own rates and create your own schedule. Experienced freelancers in fields like marketing, business consulting, and programming can charge $50 to $100 per hour.
But even beginners can make $15 to $25 per hour doing simpler jobs like data entry, social media management, or administrative tasks.
3. Sell Handmade Crafts and Products
If you have a creative hobby like crafting, woodworking, photography, or jewelry making, you can turn your talents into cash by selling handmade products online. Great platforms include:
- Amazon Handmade
You can also sell crafts and artisan goods in person at local craft fairs, tradeshows, and farmers markets. Price your unique creations appropriately and market them smartly on social media, and you can earn several hundred dollars a month or more.
4. Monetize Your Photography Skills
If you have an artistic eye and photography skills, you can definitely turn this into a profitable side hustle. There are many ways to make $500 or more per month by selling your photos online.
Major platforms like Shutterstock, Getty Images, and Adobe Stock allow you to submit your images to their marketplace for licensing. You’ll get paid royalties every time someone buys or downloads one of your images.
Niche websites like FeetFinder also let you sell specialized types of images – they pay for photos of feet, which have a dedicated customer base.
You can also build your own portfolio website and sell digital files or prints directly to clients. Social media platforms like Instagram are great for marketing your photography services and highlighting your style.
With quality work and good marketing skills, photography can become a consistent $500+ per month income stream.
5. Invest in Dividend Stocks
Building a portfolio of dividend-paying stocks is a more passive way to generate $500 per month in income. Many established companies offer regular dividend payments to shareholders that add up over time.
For example, if you invest $50,000 into stocks paying 4% dividends, you can earn about $500 per month in dividend income.
Of course, the exact amount depends on the stocks you select and how much you choose to invest. To get started, research dividend investing strategies and consider working with a financial advisor. Then, build a diversified portfolio using an online brokerage account.
6. Rent Out Your Extra Space
If you have an extra bedroom, basement, or other unused living space, you may be able to rent it out for extra income.
Platforms like Airbnb, Vrbo, and Craigslist allow you to list available rooms or whole properties to prospective renters.
Local occupancy laws vary, so be sure to check regulations in your city. But if you can legally rent out space, the income potential is huge.
For example, renting just one spare room on Airbnb for $50/night can easily generate $500+ per month.
7. Become a Rideshare Driver
Driving for a rideshare company like Uber or Lyft is a commonly used side hustle to make extra money in your spare time. While earnings vary based on your location and hours driven, many drivers report making over $500 per month.
You can drive whenever it fits your schedule, though nights and weekends tend to be most profitable.
To get started, research requirements in your city, get your vehicle approved, complete a background check, and set up your rideshare driving profile.
Apps like Mystro even allow you to drive for both Uber and Lyft at once to maximize earnings.
8. Resell Thrift Store Finds
If you have an eye for spotting valuable items at thrift stores, garage sales, or estate sales, reselling finds can be very lucrative.
Items like designer clothing, vintage furniture, classic toys, antique dishes, and more can often be purchased inexpensively and flipped for big profits online.
eBay, Facebook Marketplace, Poshmark, and Craigslist are all popular platforms for reselling items. Retail arbitrage using major retailer clearance sections can also work very well.
If you source and market goods strategically, you can easily clear $500 or more in profits each month.
9. Invest in Real Estate
Real estate investing involves buying, managing, and renting out properties for ongoing income. While substantial capital is often needed to purchase real estate outright, alternative approaches like crowdfunding or Real Estate Investment Trusts (REITs) allow you to invest with little money upfront.
For example, on platforms like Fundrise and DiversyFund, you can invest as little as $500 in pooled real estate assets. This allows you to earn passive income through property cash flows and appreciation.
Over time, annual returns averaging 7-12% can translate into $500+ of monthly income.
10. Provide Virtual Services
In today’s digital world, there is a high demand for virtual services you can provide remotely from home. Depending on your skills, you may be able to earn $500+ each month doing things like:
- Transcribing audio files
- Tutoring students online
- Providing virtual lessons in music, art, or academics
- Doing remote IT support and computer repair
- Bookkeeping and financial services
- Writing, editing, or proofreading
- Legal and medical transcription
Virtual assistant jobs are also booming, with many roles paying $15 to $50 per hour for administrative services like customer service, data entry, email management, and more.
So, there are now more flexible ways to earn extra monthly income than ever before. Whether you want to make $500, $1,000, or even more each month, side hustles, passive income streams, and smart monetization of your skills and resources can all help you reach your goal.
Experiment with a few ideas that appeal to you and fit your lifestyle. Stay motivated and consistent. With some determination and dedication, you’ll be earning those big monthly profits in no time!
What are the most profitable ways to make $500/month?
Some of the most lucrative ways with strong profit potential include reselling products online, offering freelance services in high-demand fields, investing in appreciating assets like stocks or real estate, and renting out extra space. Focus on methods that align with your skills and resources.
Can I use side income to qualify for a mortgage or loan?
Yes, lenders generally can factor consistent side income sources into your debt-to-income calculations when applying for a mortgage or loan. Just be prepared to provide proper documentation proving your regular monthly earnings.
Can I make $500/month without any special skills or education?
While skills expand your opportunities, you can definitely make $500 monthly without any specialized expertise or education. Simple options like paid surveys, ridesharing, retail arbitrage reselling, and renting space utilize skills most people already possess.