Want to make $5000 a week?
Believe it or not, it might be easier than you think!
Don’t get me wrong, it probably won’t happen over night and it won’t exactly be easy – but it is possible!
In this post, I’ll explore how to make $5,000 a week, some ideas to help you make $5k a week in passive income, and much more. Let’s get started!
KEY TAKEAWAYS:
- Starting a business
- Working as a freelancer or consultant
- Starting a blog, podcast, or YouTube channel
How Much is $5000 a Week?
Earning $5000 a week is equivalent to making $20k a month, $715 per day, or around $260,000 per year.
This is a good amount of money that many people would be proud to earn, but it’s not an unattainable goal.
With an average income of around $67,000 in the United States, this is much higher than what most people make – but that doesn’t mean it’s impossible.
Best Ways to Make $5000 a Week
1. Make $5k a Week Online Blogging
Blogging is one of my favorite ways to make $5,000 a week online for several reasons.
For example, you can:
- Work whenever you want
- Work from anywhere in the world
- Have an unlimited income potential
- Make passive income over time
- And much more
While it can take some time to grow a blog to make that much money, it is possible if you’re consistent with your content creation and marketing efforts.
One of the best things is that it costs almost nothing to start a blog and you don’t need a ton of equipment to get your site off the ground.
You can start by securing a domain name with Namecheap and purchasing hosting from SiteGround. This should cost around $150 per year.
Next, you can install WordPress on your site and select a theme. Most hosting providers allow you to do this with a single click that makes it super easy.
And that’s it. You’re ready to start creating content and publishing it to your blog!
So, how do blogs earn money exaclty?
There are several different monetization strategies but some of the best include display ads, affiliate marketing, selling digital products or online courses, or offering sponsored content.
What’s the earning potential from blogging?
It’s possible to make $5,000 a week or more from your blog if you’re knowledge and willing to put in the work. For example, check out the earnings from on of my blogs last month from display ads alone!
But it’s not going to happen overnight.
Blogging and other content creation businesses rely on compounding to build their earnings over time.
This means that each piece of content you create has the potential to make money for years or even decades into the future.
As your blog grows, it will start to generate passive income that can be used to build long term wealth and generate multiple income streams with no boss telling you what to do.
Check out my blogging earnings in 2021. I’m now making over $15k a month and closing in on $20k a month!
Caution: If you want fast cash – blogging is not your best option. Many times it can take months or years to start making serious money from your online business.
2. Start a Business
If you’re looking for a faster method to make $5,000 a week – starting a business should be at the top of your list for a few different reasons.
First is the income potential is enormous.
Starting a business has the potential to make you a millionaire or even billionaire in some cases.
If you work a 9 to 5 job, the chances of you making millions are slim, and making billions is impossible.
But I know many entrepreneurs who earn far more than $5000 a week from their businesses.
The next benefit is the flexibility.
If you work a corporate job, chances are, you’ll be expected to work 40 hours each week until you retire.
This can make it hard to spend time with family and do the things you love whenever you want.
By starting your own business, you can take advantage of more free time to do the things you enjoy.
Finally, starting a profitable business can give you the freedom to travel and work from anywhere in the world.
You’re not tied down to one location like you might be with some more traditional jobs.
Of course, starting a business is not easy by any means and it will take a lot of hard work to get it off the ground – but it’s definitely worth it if you want to make $5,000 a week or more.
There are endless business ideas you can start that have the potential to make a significant income each month.
I recommend starting with small service based business that is relatively easy to operate at first so you can learn the basics of business.
Some business ideas could include:
You can always scale up and hire more employees as your business grows and move on to bigger ideas in the future.
Another huge benefit of starting a business is that your business can become an asset that can be worth a fortune.
For example, check out this dog daycare for sale in my area. It’s listed for over $1 million!
To start a business, you’ll first need to have an idea and create a business plan.
Once you have a plan, you can start working on the logistics of getting your business up and running.
It’s critical to understand how you will attract customers and start making money from your venture before starting.
If you want to make $5k a week – starting a business is one of the best methods for several reasons. You’ll gain flexibility, have a large income potential, and have the freedom to work whenever you want. Who could say no to that!?
Here’s a great video explaining some of the best business ideas worth considering.
3. Sell an Online Course
Creating an online course is a great way to make $5,000 a week because it’s a scalable business model that earns money passively.
This means that you can put in the work upfront to create the course and then continue to make money from it month after month with little to no additional effort.
To get started, you’ll need to determine what topics you will cover in your course and how you will structure it.
You’ll want to think about your skills and experience to determine what you can teach others that would be willing to pay for your knowledge.
For example, if you don’t have any skills when it comes to editing videos – that’s not a great choice to create a course on. Or, if you’re an accountant who passed the CPA exam – you could consider creating a course on exam prep. Check out some of the prices for these materials!
It’s also important to make sure your course is well organized and provides value to your students because word of mouth marketing is one of the best ways to increase sales for your course.
Once you’ve determined the curriculum for your course, you’ll need to create the actual content.
This can be done in a number of ways, but most courses are made up of videos, PDFs, and audio files.
Once you have the content created, you can start selling your course on platforms like Podia or Teachable that make uploading your content and organizing it extremely simple.
I’ve used both platforms and they are very similar and cost about the same, so either will work.
Finally, you can start promoting your course and making money.
When putting together your marketing efforts, you’ll want to think about your target audience and where they can be found online.
You can use platforms like Facebook and Google Ads to reach a wide audience or target specific demographics that you think would be interested in your course.
For example, if you’re selling an online course about investing – you’ll need to find people who are interested in investing and are willing to spend money on a course.
Another option is to promote your course through affiliate partners. This can be one of the least risky methods to grow your revenue.
This means you can essentially hire other content creators to promote your course for you and they’ll earn a commission for each sale they generate.
The technicalities of this can be slightly more advanced, but most popular course platforms have this software integrated into their product.
If you want to make $5,000 a week – selling online courses can be a creative and profitable venture for anyone who loves helping others and has knowledge to share.
Check out the video below for more info!
4. Open an Online Store
If you want to start your own business and earn money online, opening an e-commerce store is a great option, if you’re willing to put in the work.
When you sell online, you’ll need to create a store, list your products, and drive traffic to your site.
While this might seem simple, it’s a little more complex than that.
Setting up your store is the easy part. You can use platforms like Shopify or Woocommerce to create a professional looking store in just a few hours. For example, check out this coffee online store I found.
The more difficult part is getting traffic to your store and getting people to buy your products.
You’ll need to invest time and money into marketing your store if you want to make serious money. This could be through a variety of methods.
One common technique that’s gained traction over recent years is partnering with influencers in your space to promote your store.
For example, Alani Nu, a fitness brand has partnered with Kim Kardashian to promote their line of energy drinks. While this is an extreme example – you could consider going after lower tier influencers who charge less.
Overall, e-commerce stores can be a great way to generate $20k a month online if you have the right strategy and are willing to put in the work. I wouldn’t recommend them to entrepreneurs who have limited experience in digital marketing and online retail however.
5. Invest in Real Estate
Investing is a great way to make passive income and reach your financial goals, no matter how big they might be – whether you want to make $50k a month or even $100k a month.
There are many different ways you can invest in real estate, but one of the most popular and profitable ways is through a platform like Arrived.
You can get started with as little as $100 – making it a viable option for just about anyone. And I love the ability to pick and choose exactly what properties you invest in. This gives you more control of your money, which I always prefer.
Arrived returns will depend on the property you invest in, but it’s possible to earn over 15% on some properties. For example, here are some of their best properties they’ve managed.
But that’s not the only option!
Another great real estate investment is through a real estate debt platform like Groundfloor.
Groundfloor allows you to invest in real estate loans – which means you’re essentially lending money to someone who is using it to finance a property.
You can get started with as little as $10 and you can earn up to 14% interest on your investments – which is a great return on your money.
Finally, you can also opt to purchase a rental property outright to generate monthly rental income.
This will require much more money upfront, but you can receive a higher return on your investment in many cases.
I own a rental property and opted to hire a property management company to limit the work that I am forced to complete, but this does eat into your profits. Take a look at all of the expenses I paid the company in year 1.
Making $5,000 a week from real estate investing can take longer than some other methods on this list, but it’s also one of the least risky ways to make money over the long run.
6. Work as a Freelance Writer
Freelance writing is a great way to make extra money on the side or even build a full-time business.
And before you ask, no, you don’t need to be a professional writer or English major to get started!
As a freelance writer, you’ll be tasked with writing content for different companies and online publishers. This can include things like writing blog posts, articles, marketing copy, and much more.
There are many different niches that you can specialize in to set yourself apart from others, which is a great way to get started.
Some writers charge over $.50 per word written. While this is on the higher end, it’s common to charge anywhere from $.20 to $.25 per word for more rookie writers. Some writers will charge an hourly rate that can exceed $100 an hour!
So how can you make $5,000 a week freelance writing?
If you make $.25 per word, you would need to write 10, 2,000-word articles each week to reach your goal. While this is certainly challenging, it’s possible if you’re motivated.
If you want to make extra money and want one of the highest paying side hustles, working as a freelance writer is a great option.
7. Work as a Freelancer
While I’ve already covered freelance writing – there are many other kinds of freelancing that can be great options to make $5k a week.
For example, if you’re a video editor you can earn money by offering video editing services to businesses and online publishers.
The same goes for graphic designers, web developers, SEO specialists, and just about any other skill that businesses are willing to pay for. For example, take a look at some of these graphic designers I found on Upwork.
If you don’t have a ton of special skills, one of the easiest freelance jobs is working as a virtual assistant.
While it might be difficult to make $5k a week solely as a virtual assistant, you can certainly make $100 a day or more that can be used to invest.
You can find work as a freelancer by using online platforms like Fiverr or Upwork or you can network with businesses directly who might need your services.
The pay for freelancers will vary widely depending on the work that you do but it’s possible to make over $20 an hour in some cases.
If you have a valuable skill that businesses need, then freelancing can be a great way to make some extra money online.
Want to become a virtual assistant but aren’t sure where to start? Check out Carrie’s Virtual Assistant Accelerator program to learn everything you need to know!
8. Start a Podcast
Podcasting is another great online business idea that can generate a solid income each week.
It’s similar to blogging and other forms of content creation except in the audio format.
While growing a podcast can be challenging in the beginning, there’s tremendous potential to make money down the road.
The key to making money with podcasts is to find a niche topic that you’re passionate about and build an audience around it. While this is easier said than done, there are tons of successful podcasts that can inspire you. Here are some of the top shows according to Spotify.
How will you make money?
You can then monetize your podcast through sponsorships, advertisements, or by selling products and courses.
I know some podcasters that make over $300,000 a year just from their podcast alone.
While it might not be possible to make that much money starting out, it’s certainly possible to grow a podcast and make $5,000 a week or more.
9. Start a YouTube Channel
YouTube is another great way to start making money online. Best of all, you can create a channel about anything you love.
For example, take a look at the woodworking YouTube channel that has almost 2 millions subscribers!
While it can be challenging to grow a YouTube channel in the beginning, there’s tremendous potential for monetization down the road.
You can make money with YouTube through ads, sponsorships, or by selling products and courses just to name a few.
You won’t make money fast with this option but it’s one of the best online business ideas if you’re looking for a long-term opportunity.
To make $5,000 a week with YouTube, you would need to have a channel with a very large following but it’s certainly possible.
Check out the video below for more help.
10. Sell Digital Products
Similar to selling online courses, selling digital products can be an excellent way to make $5000 a week in passive income.
The profit margins on these items are enormous, typically exceeding 75%.
One of the more difficult parts of this business model is marketing and selling your products.
You’ll need to think of ways to promote your digital products, whether you choose to run digital ads, create a social media following, or promote your items to an email marketing list.
Just like online courses, affiliates can be very powerful in promoting your products and driving sales.
Check out this digital product I found on Etsy.
It’s had over 1,300 sales at a price of $24! Not bad!
11. Flipping
Looking for a side hustle you can start with virtually no money?
Flipping can be an excellent option for those willing to put in the work. And best of all, you don’t need any special skills to get started.
You’ll first need to find products that are highly discounted and sell them for a profit.
You can source your inventory at garage sales, flea markets, or online through sites like Craigslist or Facebook Marketplace.
If you want to make more money, you can try to find items that could use a little TLC before selling them.
Another secret method that most people overlook is the free section of platforms like Facebook Marketplace and Craigslist.
I found this coffee table listed for completely free in my area that I can easily sell for $75 or $100!
While flipping is going to require a lot of work to make $5,000 a week – I think it’s the perfect option for people who are willing to put in the hustle and don’t have a ton of money to get started.
12. Retail Arbitrage
Retail arbitrage is essentially flipping, except you’ll visit large retailers to source your inventory.
The process works the same way as regular flipping except you’ll find products at stores like Walmart, Target, and other similar retailers.
You can then sell these products for a profit online through sites like Amazon or eBay.
Just like with flipping – this is going to be one of the more time consuming side hustles, but it’s worth it to make some extra money.
Here are some great tips to getting started.
How to get some quick wins as a newer seller:
– Find a profitable product that’s available for store pickup
– Buy it and list FBM before leaving your house
– Get sales before you even get home with the item in hand— BowTiedMahi | Arbitrage Chad ♟ (@BowTiedMahi) August 18, 2023
13. Invest in the Stock Market
Just like with real estate, investing in the stock market will take some time and money to reach your goal of making $5k a week.
To get started, I recommend using an investing app like Acorns or M1 Finance to invest in index funds with as little as $5. They’re also currently giving new investors $10 completely free!
If you want to earn extra money without having to work for it, investing is a great option.
While it won’t make you rich overnight, the stock market has the potential to make you a lot of money over time if you’re patient and consistent with your investing.
Most people get overwhelmed when it comes to investing in the stock market because there are so many different options.
Between individual stocks, ETFs, and index funds – it can be tough to decide where to invest your money.
The best way to get started is by dollar cost averaging into index funds or ETFs. This means investing a fixed amount of money into these investments every month.
For example, you could invest $25 into an S&P 500 index fund every month. This will help you slowly build up your investment without having to worry about picking individual stocks.
Returns on ETFs are typically around 7% annually, which means you could potentially double your investment every 10 years. Check out the all time returns of the S&P 500 below!
This may not seem like a lot at first, but it can add up over time!
Never invest more than you can afford to lose. Remember that investment returns are never guaranteed.
14. Find a New Job
Finding a new job is one of the easier ways to make $5,000 a week if you’re not already making that much.
There are plenty of jobs that pay over 200k a year, so if you’re willing to put in the extra effort to find one of them, it can certainly pay off.
Of course, finding a job that pays that much can be difficult, but it’s certainly not impossible.
You can browse job boards like Indeed or Glassdoor to find high-paying jobs in your area.
You can also try networking with people in your industry to see if anyone knows of any open positions.
15. Get Paid to Consult
Consulting is one of the best ways to make $5,000 per week because of how easy it is.
Now, you’ll need to be a professional and have experience that someone is looking for – but if you do you can make a fortune.
For example, one of the top SEO consultants Charles Floate charges $1,000 an hour for his time meaning you could earn $5,000 per week working just 5 hours!
While this might not be available for everyone, if you have the skills – I would highly recommend giving it a try.
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Final Thoughts on How to 5K per Week
If you want to make more money and earn $5k a week, there are plenty of ways to do it.
Some of the best methods include:
Reaching your goal likely won’t happen overnight, but if you stick to it and work hard, you’ll reach your goal before you know it!
He has a Bachelor’s degree in business and has been featured in many popular publications including Forbes, Business Insider, Bankrate, CNET Money, and many others.
To learn more about Forrest, visit the About Us Page for more info.
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