3 $50 Investments in Yourself That Pay Back Over $5K in Just a Few Months
According to a report from Omnisend, 28% of Americans have taken on a side hustle as a secondary income stream. With 54% of those surveyed who have a side hustle admitting they took one to cover bills, it’s evident that it’s more important than ever to bring in some extra cash.
The good news is that there are numerous small investments that you can make into your skills to help you earn more money with some sort of a side gig.
The following $50 or less investments in yourself could help you earn $5,000 just a few months.
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Canva Design School
“In case you don't know, Canva is a design tool that is used by millions of small businesses, content creators and marketing teams around the world,” said Xhensila Lala, economist and brand strategist at William Morris Wallpaper. “The free Design School will help you use it properly, whether you're creating brand kits, social media graphics, presentations or marketing materials.”
Many small-business owners already have Canva accounts but don't know how to make the best use of them. This is where you can build an income stream that pays back your original investment many times over.
Once you complete the course, you earn an official certificate that goes straight onto your LinkedIn profile, which can help you differentiate yourself with clients. The actual design school is free, but you may want to upgrade to the $20 a month plan to access premium tools.
What Are the Potential Earnings?
Lala noted that you can provide done-for-you design services after a month of practice and charge $300 to $500 per client per month. If you get three clients paying you $500 monthly, you could make $5,000 in just over three months. The amount that you earn will depend on the services you offer.
Google Digital Marketing and E-commerce Certificate
Lala mentioned that this program is taught and developed directly by Google and includes email marketing, digital campaign strategy, e-commerce and analytics designed for real job placement. The course description touts that you can learn the basics of digital marketing so that you can possess the skills to land an entry-level gig. If you’re looking to maximize your earnings this summer and beyond, you can offer freelancing services.
Josh Hutcheson, founder and editor of Onlinecourseing.com, said the course is entry-level by design, but by pairing the certificate with two to three portfolio projects, it can either provide you with a salary bump or a new side gig.
You can enroll in the course on Coursera for $49 a month.
What Are the Potential Earnings?
The best part of this course is that you can offer a range of digital marketing services depending on the area you gravitate toward. Some of the potential earnings include the following.
Email marketing management: You can offer this for $500 to $800 per client per month. Lala noted this is a skill that most business owners need but can't afford to hire a full-time employee to do. If you land three clients at $500 each, you've hit $1,500 monthly.
Freelance digital marketing work: According to ZipRecruiter, you can earn around $40 an hour as a freelancer in this field. If you work an extra 10 hours per week, you’ll earn $1,600 monthly or just under $5,000 in three months.
Freelance digital marketing consulting: You can charge $75 to $150 per hour for campaign audits and strategy work. Meaning roughly 40 hours of client work gets you there if you earn around $125 an hour.
A Bookkeeping Course on Udemy
Hutcheson emphasized that small businesses constantly need part-time bookkeeping help. The price of a course can range from $15 to $25, so you can take a few courses and utilize a free QuickBooks trial.
What Are the Potential Earnings?
While the hourly rate can range from $25 to $90 (according to ZedTreeo), you can maximize your earnings by finding steady clients who pay you a monthly retainer. Hutcheson pointed out that some companies may not have the budget for a full-time person in this role, but they could spend around $500 per month to have you on a retainer. If you find three clients, then you could make around $5,000 within three months.
The experts agreed that you don’t have to spend a fortune on acquiring skills. The goal is to find a course that you can take in your spare time that will help you build a portfolio based on your skills so that you can land paying clients.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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