How to make £1000: 7 guaranteed ways to how to make £1000 a month in 2020
People usually aren’t short on money. They are usually short on creativity.
When viewed from this perspective, it becomes clear that how to make £1000 a month has everything to do with you and your mindset.
You either believe that money is all around you and that you too can ride the wave and create opportunity by giving value.
Or you believe that money is elusive and out of reach as most people do (especially in the current climate).
I subscribe to the former and believe that creativity is a muscle that needs to be exercised daily 😀.
That same creativity can be applied to making money just as it could be applied to anything else.
If combined with an attitude biased towards action and taking risks, then you can well and truly change the world around you financially.
Now, ofcourse you can go out there and just focus only on a job like everyone else.
I kinda see that as the low hanging fruit simply because anyone can do that.
Not knocking it ofcourse!
I just think instead that it’s far more exciting to sit down, ideate on how else you could change your financial circumstances and literally go for it!
I’ve done it multiple times and below I’ll be super transparent to help you take action. I’ll share real numbers with you.
Note: In addition to what I’m sharing below, in August 2020, we launched One Grand Plus, an 80-pager step-by-step Action Plan, created to show you how to make £1000+ per month from 5 breakthrough passive income ideas that we make money from each month.
In fact, the 5 ideas above together, help us make £100,000+ per year in income from running this blog.
Making An Extra £1000 A Month
Making an extra £1,000 could be significant to you or not depending on where you’re in your financial life.
An extra £1,000 is equivalent to around a £20,000 pay rise per annum if you’re a higher rate taxpayer, and so could be pretty game-changing.
I know for certain that each extra £1,000 a month that I made on this journey has helped me personally in different ways:
- Pay for primary education for one of our children.
- Wiped 9 years off our home mortgage (before we became mortgage free)
- Increase our savings rate and significantly boosted our pension pot especially with the tax rebates factored in.
- Support one or more of the causes we are currently working towards supporting permanently.
- Give us the option to invest in other assets or small businesses for more passive income.
- In essence, an extra £1,000 improves our current position of Financial Independence.
You too will have your own list of things, which could include creating an emergency fund, paying off debt, travelling, helping a relative or stranger etc.
Basically, making extra money matters. I am yet to meet anyone who wouldn’t like to make more money.
Although saying that, some of my more righteous friends prefer to shy away from this subject as though it were one of the 7 deadly sins 😏.
I reckon this is probably just a cultural thing.
People in the UK are less likely to be open about how to make £1000 a week or month compared to those in the US.
Making more money shouldn’t just be about you by the way. You’ll get nowhere with this thinking.
It’s important to have a balance and being generous with your resources is absolutely necessary!
Now here’s the thing, like most people, there was a time when I sat back and earned income primarily from one source.
I had no concept of other sources of income and more importantly, I didn’t believe I could do it.
The big secret in the book Think and Grow Rich is:
Whatever Your Mind Can Believe, Your Mind Can Achieve.
Belief is such an important thing, and I think we all have an on/off switch in our minds. Most people have that switch turned off.
They complain every day about how tight things are, and even when they are shown and given the tools to change their worlds, nothing happens.
Arrrgh! Drives me totally nuts!😆
The ideas I am going to talk about below are ideas I have tried and tested myself among many others.
I write this blog post with no interest in BS’ing anyone.
If this post meets you at the right time in your journey, then great. Read it and start taking the steps today.
If it doesn’t, then hopefully one day you’ll revert back to it and start making certain moves in your life.
Either way, read with an open mind and remember that although I refer to only 7 ideas here, there is so much more that you can do.
It all comes down to the extent of your imagination and creativity.
Before you dive in, here is an extremely important point to take away:
Therefore, on that basis, the majority of the ideas I have below are really focused on helping you create assets.
They only become guaranteed sources for how to make £1000 a month after you put work in over time.
Remember: Think Income for the short term but Assets for the Long Term. This is what creates wealth and Financial Independence.
NEW Related Video for how to make £1000 on Our YouTube Channel to showing you 12 Best Side Hustle Ideas:
How To Make £1000 A Month
Below are 7 guaranteed ways to help you with how to make £1000 a month (if you’re prepared to do some work):
1. Coaching and Consulting
Offering coaching or consulting is one of the fastest ways to start making an extra £1,000 per month.
Think of yourself here as a problem-solving machine.
The better you’re at solving other people’s problems, the higher the value you can dictate.
People only pay for value in the form of results.
This way, what you’re really doing is swapping one intangible asset (your knowledge and experience) for another (extra money or whatever).
Have you ever wondered why McKinsey, PWC, KMPG make such a ton of money?
Well, if you’ve, then you’ll realise that they run some of the highest margin businesses in the world.
I have chosen coaching and consulting because they both really require no qualifications as such.
However, having qualifications and experience enhance your value a lot.
Coaching and Consulting require slightly different skillsets and can be offered on a personal or corporate basis.
What I like most about this is:
- It’s self-fulfilling. If you add value to someone else’s life and overdeliver, they will recommend you to someone else.
- You dictate your price because value is in the eye of the beholder. How much do you think your expertise is worth? Well, that’s how much you should charge.
The other reason why these two ways of making money command such high margins is because they involve using two superpowers:
- The mind (for imagination)
Think about the highest earning people in the world – Oprah Winfrey, Warren Buffett, Bill Gates etc. They too use these superpowers.
They aren’t doing manual jobs, which is the lowest level of money making. Again, not knocking it!
You might be thinking you don’t know enough to offer coaching or consulting or that you aren’t an expert.
The truth is, everything you need to get started is already in your hands today.
An expert is really any colour in the spectrum between black and white. Everyone is an expert, although some are more terrible than others.
To be honest, the word “expert” is a silly title. The focus here should be on delivering an outcome or a transformation.
If you believe (I come back to this deliberately) you can and can prove it, then half the work is done.
The next thing you need to do is find a small market or group (the more niche the better) to offer your expertise to.
And where do you find these people? Start with Facebook groups ofcourse! Don’t just join these groups to be cute!
Join relevant groups and start building relationships.
Basically, the person who needs your service is out there.
And your money is in their pocket. Your mission is to find that person and serve them.
This is one of my favourites on how to make £1000 a month.
Blogs will always have a role to play and people will always read blogs just as they still read newspapers.
What’s particularly special about a blog when you think about it, is that it’s an amazing way of doing two things:
- Owning traffic
- Controlling traffic
Traffic is the currency and that currency can be converted into cash if you know exactly how.
As usual, the lazy ones out there would say, “I am no good at writing”, “Where would I start?”, “I am not a great storyteller” blah blah blah.
Again, I’ll say these are silly excuses. You become good at things by doing them many times.
Wanna start smashing blogs and learning exactly how it works? The Psychology? The Layers?
You have to learn. Just like I did. I knew nothing about blogging and started it as my passion project.
However, because I understand that blogs posts have present and future value and that every blog post is an asset and a sales letter potentially, I also know that I can leverage it as a powerful platform (this is an important word).
Let me be clear, blogging isn’t immediately easy. Nope! 😅
It requires patience and perseverance. Plus not all blogs are interested in making an income.
But if your goal is to seriously find how to make £1,000 a month consistently, then you’d really be crazy not to consider starting a blog.
It opens so many doors and really broadens your mind and your possibilities.
I’d say that £1,000 a month is the minimum you’d make from blogging after at least 12 months of consistent blogging.
This could rise to 5 per month (or more) if you’re consistent and stand the test of time.
This level of income would also require you to see blogging more as a business that creates value.
This is exactly what we do here at The Humble Penny. Blogging for us represents two things – Purpose and Profits.
Both are necessary for sustainability in what we do here to educate families and professionals, etc. on how to achieve Financial Independence.
NEW Related Video for how to make £1000 on Our YouTube Channel showing you How to Start a Blog :
I have also put all I have learned in the journey so far into a FREE 7-day course. Check out the curriculum –
- Day-1: 7 reasons why you need to start a blog today.
- Day-2: How to decide what exactly you’ll blog about.
- Day-3: How to create your blog on WordPress. Detailed step by step tutorial.
- Day-4: How you actually make money blogging.
- Day-5: Affiliate Marketing and Top Tips for Passive Income from Blogging.
- Day-6: How to tell your story, generate traffic and grow your followers and tribe.
- Day-7: Blogging tips to help you have influence and make you successful.
Feel free to join it here if you fancy:
In this 7 day email course I will teach you exactly How to start your own Successful and Impactful blog, sort the techy bits, attract followers, build a tribe and even begin Making Passive Income from it! Start Today and Change Your World! Be Fearless!!
FREE How to Start an Impactful Blog Course
In this 7 day email course I will teach you exactly How to start your own Successful and Impactful blog, sort the techy bits, attract followers, build a tribe and even begin Making Passive Income from it!
Start Today and Change Your World! Be Fearless!!
3. Using Other People’s Talents (OPT)
This option of how to make £1000 a month is available to everyone and even more so for the person who like me is an opportunist.
You may not have the talent to create a product, course etc., but what you can absolutely do is ride someone else’s talent.
What I am referring to here is Affiliate Marketing. It’s a bit of a fancy name for selling other people’s products.
The initial key here is to match a product with an identified market and essentially get a revenue share.
You have to do this genuinely though as it would be totally out of order to sell things to people that you have never used nor think will add value.
Affiliate Marketing requires good strategy to make money from it. You can learn all about this in my Free Blog Course.
Or if you really want to go deep and implement affiliate marketing, then it is 1 of the 5 Action Plans in One Grand Plus.
NEW Related Video for how to make £1000 on Our YouTube Channel for Passive Income Ideas:
4. Create a Niche Business
You’ve probably heard of Pat Flynn of “Smart Passive Income”.
He started life as a humble architect until he got made redundant.
Something pretty special happened after that because he managed to create a niche website to help people pass architecture exams.
He made good money from that and he started a blog to talk about his process and what he had learned, and from there, his success compounded.
He got even more creative and proved that he could start a niche business in industries he had no knowledge about e.g. Security Guard Training.
You can read about his story and how he has made at least $3m from all these exploits here.
The riches are in the niches! Start today and you’ve no idea where it could lead.
5. Write a Niche Course
I was listening to a podcast the other day and the lady (single mum of two) being interviewed had managed to do something phenomenal.
She wrote a niche course selling for $1,000 and had managed to sell it to 1,000 people.
That’s a cool $1m in revenue. From one course!
Obviously, this is a totally rare occurrence. However, it proves that nothing is impossible.
You don’t need a course to make $1m, although it would ofcourse be nice!
A £100 course that sells at least 10 units per month will make you £1,000+ a month.
Courses are high grossing, but you really MUST be delivering value.
In fact, value is the litmus test. If you don’t provide value, no one pays.
People want courses that solve specific problems they have, and because there are markets for everything, you’ll having a market waiting too.
Platforms like Thinkific or Teachable make this process so easy now for everyone to get involved.
Feel free to check out some of our courses that apply everything that I’m sharing above:
- Super Simple Investing – A course that promises you Investing Confidence in 12 days!
- FIRE SuperPower – A course that will help you create a Personalised Plan for Financial Independence.
- One Grand Plu$ – An 80-pager step-by-step Action Plan that shows you EXACTLY how to implement 5 passive income ideas to make £1000+ per month.
Can you see the value propositions of both courses?
I didn’t just make them up. They came by me serving our audience and understanding their pain points.
Only by delivering the above transformation (via results) do these courses sell.
6. Create a Podcast
This is very similar to blogging and is now something that pretty much everyone can get involved with.
When most people think about podcasting, the immediate block they have is that they start thinking about equipment.
Well, I have amazing news!
The smart guys at Anchor.fm have created a phenomenal app that lets you launch your own podcast and publish onto iTunes straight from your phone.
I am soon to launch my own podcast and I am so excited about it 😊.
You can too although podcasts require time and effort.
However, if you’re really in it to help your audience, it can be life-changing financially.
John Lee Dumas now runs one of the most successful podcasts in the world and he makes millions! However, like you and me, he started barely 5 years ago with zero fans.
With hard work and perseverance, this option could be life changing because it could move you on from aiming for £1,000 a month to a proper lifestyle business (an asset).
7. Start a Meaningful Membership Site
This final way of making money is for the really discerning out there.
It has become one of our highest sources of income since we launched our own membership programme in 2020 focused on helping 10,000 families achieve Financial Independence this decade.
It is literally the most fulfilling thing that we have ever created! 😍
Note the overarching mission.
A mission has to be the core focus because membership programmes require deep commitment to helping others.
This one idea alone isn’t really just about how to make £1000 a month.
It’s way much more than that as I’ve pointed at above. Don’t just take my word for it…
Ever heard of Carrie Green? And the Female Entrepreneur Association?
She is a young Brit and I am an absolute fan.
Carrie is the writer of a book called ‘She Means Business’ and is a seriously astute businesswoman.
She’s also the founder of the membership site called The Female Entrepreneurship Association.
Through this site, she offers bucket loads of value to female entrepreneurs for a monthly membership fee.
This has made her very successful and continues to as she is really in it to help others.
Here’s what she said recently about membership sites:
“Membership sites are ridiculously amazing because they help you to build a community of people, which is so powerful. And it’s amazing for generating recurring revenue”.
I 100% agree with this because our membership offering has created a powerful and highly supportive community of like-minded Dream Makers 😊.
A membership site is a possibility for everyone with a passion for helping people.
The overarching strategy here is all about having a core message and mission.
This then drives what type of content you create because the quality of content you create and the level of personal and community support is what keeps people within your membership site.
As mentioned, I said I’d share real numbers. As at the time of writing, we have 190 members paying £37 per month.
That’s £7,030 in recurring monthly income or £84,360 per year in income and growing.
Take a peek and explore our own membership site if you’re interested in step-by-step programme for achieving financial independence with ongoing direct help from us.
You too can start one but it doesn’t have to be as comprehensive. Even if you charged £10 per month, 100 members will make you £1,000 per month.
Finding ideas on how to make £1000 a month is the first step in making this a reality.
Taking it further requires a step outside of your comfort zone.
Don’t be afraid to fail.
Just believe in yourself and that you can do it. This alone sets you miles ahead of others.
Then pick one idea up and put it to the test as an experiment and see what happens.
Surrounding yourself with others who are of the similar mindset and who will keep you accountable and share info that will stop you wasting your time is also key.
This is another reason why we launched Financial Joy Academy and the member results have been incredible. Read for yourself 😀
Remember: Although you came here looking for how to make £1000 a month, these ideas are here to help you really create the bigger and more sustainable thing – ASSETS.
This is really what will help you make that money and accelerate your Financial Independence.
What To Read Next on How to Make £1000 :
- 5 Breakthrough Passive Income Ideas
- 7 Best Income Generating Assets For Passive Income
- 85 Ways To Make Extra Money
- Plot Your Escape. Choose Financial Independence
- 27 Legit Ideas On How To Make Money Online
What To Watch Next>>
For more on how to make £1000, watch this video on 14 High Paying Side Hustle Ideas for 2020:
In addition, for more on how to make £1000, start with your first Passive Income:
What is stopping you from really exploring one of these ideas on how to make £1000? What is the challenge you face? Please comment below.
Do please share this post if you found it useful, and remember, in all things be thankful and Seek Joy.