I’m in a situation where my kids are often sick, and I won’t be able to get a new job because I’d need to take off a lot. But I still need to bring in some income to help support my family alongside my spouse. I’m starting from scratch, and I’m not looking for a get-rich-quick scheme or to make millions. I just need an extra $2,000 to $3,000 a month. What’s the best way to do this?
Start writing check out platform medium
I have to disagree about courses. I’m a registered nurse and own an allied health school, and I make extra money daily by sharing my knowledge. I found a great course that taught me how to do this. At first, I was doubtful because there are so many bad courses and scams out there, plus I’m more used to in-person learning.
But if you’re good at something, why not teach others? Find what you’re good at and teach it through ebooks, webinars, etc. Create digital products and sell them. If done right, you could easily make $300-600 a day. I do. Hope this helps.
Babysit other kids in your home. 3 kids x $700 a month = $2,100
Want truly passive income? Put $800-900k in a high-yield savings account (HYSA) or invest in dividend-friendly ETFs.
Side gigs that earn extra money aren’t really passive, and that’s not what this sub focuses on.
You can make that kind of money from a successful YouTube channel or a website with evergreen content, but it will likely take a while to get to that point. Right now, a work-from-home job might be a better option for you. You could also try selling things on eBay or Etsy. I used to make that amount by flipping stuff on eBay a few years ago.
From a stock market view, you’d need to invest around $114,000 to generate $1,000 a month in passive income.
For the same amount, you could start a business, which could bring in much more, like $12k a month if done right. But that would take a lot of effort and dedication.
GICs might give you $5,000 a year, which is about $418 a month per $100k invested.
A part-time second job is the most realistic option and could earn you $1,000 a month.
You can’t make 2-3k a month in passive income just like that unless you have a ton of money saved up and invest it to generate a passive income stream with earned interest.
What is out there is pennies, like income from surveys, and the touted digital marketing route is usually a scheme in which you pay $495 for a largely worthless course. Then you can try to resell that course yourself to try to make your money back.