Sammie Ellard-King
I’m Sammie, a money expert and business owner passionate about helping you take control of your wallet. My mission with Up the Gains is to create a safe space to help improve your finances, cut your costs and make you feel good while doing it.
If you want to know how to make 10k a month then you’ve landed in the right place.
Not only do these 13 ways to make 10k actually work we’ve also included success stories for you too!
£10,000 a month is a lot of money.
In fact, it’s £210,000 a year if you were earning via PAYE.
That’s £178,000 more a year than the national average wage in the UK!
Key Takeaways:
Diverse Paths: Multiple ways exist to hit £10,000 a month, from business to digital content. Choose what suits your skills and risk level.
Risk vs Reward: High earnings come with risks. Due diligence and planning are essential.
Combine Income Streams: Diversifying income methods, like mixing active and passive income, can accelerate earnings and offer stability.
Table of Contents
How To Make 10k A Month?
Making 10k per month really does require something quite extraordinary. You’re going to have to work so hard, especially in the first few years of your new venture.
That’s why before we get into the 13 ways we’ve complied for you it’s vital to think about why you’re doing this.
Having a goal you can use as your north star when the going gets tough is going to be vital to you success.
Setting Financial Goals
Before you embark on your journey to making £10,000 a month, it’s crucial to set clear and achievable goals.
We’re talking about SMART goals here—Specific, Measurable, Achievable, Relevant, and Time-bound. Knowing what you’re aiming for will not only keep you motivated but also give you a roadmap to success.
Financial Planning
Budgeting: Start by tracking your income and expenses. Use apps like Yolt or Money Dashboard to get a clear picture of your financial situation.
Emergency Fund: Aim to save at least three to six months’ worth of living expenses. This cushion will give you the freedom to take calculated risks.
Debt Management: High-interest debt can be a significant roadblock. Consider consolidating your debts or negotiating lower interest rates with your creditors.
More Like This
13 ways to make 10k a month
Start Your Own Business
Starting your own business is an exhilarating yet challenging path that offers the potential for significant financial rewards.
It puts you in the driver’s seat of your economic destiny but also exposes you to various risks. Your venture’s success will hinge on a multitude of factors, such as consumer demand, your level of commitment, and even fortuitous timing.
Coming up with business ideas isn’t easy so make sure you know what you’re going to deliver.
Take Richard Branson, for example, who transformed Virgin from a modest mail-order record business into a global empire. Or Jo Malone, who turned her kitchen experiments into an international fragrance brand.
Owning a business can yield returns that far outstrip those of conventional employment or standard investments, offering unparalleled ROI potential. However, the flip side is the risk factor; 66% of businesses fail in the first 3 years.
Therefore, meticulous planning, market analysis, and prudent financial management are non-negotiables when starting a small business.
Small business owners need to be prepared to juggle multiple roles, from sales and marketing to customer relations, particularly in the early stages.
Despite the hurdles, making 10 a month is more than possible if you’re up for the challenge.
Actionable Steps:
- Conduct market research to identify a niche or gap in the market.
- Create a detailed business plan.
- Register your business with Companies House.
Difficulty Rating: 9/10
Join over 1,000 others learning how to go from £0-5k with just 60 minutes work a day.
Includes everything you need to create, build and sell profitable digital products in a niche you're already passionate about.
Investing in Small Businesses
Investing in small businesses can be both rewarding and risky. It often involves either buying equity or providing loans, requiring a keen eye for potential and a stomach for risk.
Due diligence is crucial, as is understanding the market and the business’s place within it. Angel investors in the UK have seen significant returns by investing in startups like Monzo and Revolut.
However, not all investments are home runs; the risk of failure is real and should be accounted for in your investment strategy. It’s essential to diversify your investments and not put all your eggs in one basket.
Despite the risks, investing in small businesses or even buying a business that you run can offer an excellent ROI if done correctly, often surpassing traditional investment avenues.
Actionable Steps:
- Identify promising small businesses in need of investment.
- Conduct thorough due diligence.
- Negotiate terms and make the investment.
Difficulty Rating: 8/10
Start a YouTube Channel
Starting a YouTube channel in the UK is more than just turning on a camera; it’s a commitment to consistent content creation in a chosen niche. You’ll need quality content, a posting schedule, and a strategy for audience growth.
Basic video editing skills and equipment are also essential. UK YouTuber Zoella began with beauty vlogs and has since built a multi-million-pound brand, demonstrating the platform’s potential.
However, it’s worth noting that success on YouTube often requires a long-term commitment and the ability to adapt to changing algorithms and audience preferences.
From personal experience, it’s not easy to grow and it can take anything from 6-12 months to start seeing results.
So, how do you make money on YouTube? Well, monetisation methods like ads, sponsorships, and merchandise can offer substantial income, but only if you can maintain a consistent and engaged viewership.
Actionable Steps:
- Identify your niche and target audience.
- Create and upload quality content consistently.
- Monetise your channel through ads, sponsorships, and merchandise.
Difficulty Rating: 6/10
Starting a Blog
Embarking on a blogging journey offers a unique blend of creative expression and potential financial gain.
However, it’s not as simple as writing a few posts and watching the money roll in. A successful blog requires a well-defined niche, quality content, and a solid understanding of SEO.
It also shouldn’t be regarded as a blog – for me it’s an online business. Blogging is just a form of getting traffic to grow revenue.
Monetisation can be achieved through various channels, including affiliate marketing, sponsored posts, and digital products, but these only become viable once you’ve built a substantial, engaged audience.
Take the example of Martin Lewis, who started the Money Saving Expert blog for just £100 and later sold it for £87 million. Success like this doesn’t happen overnight; it requires consistent effort, content planning, and audience engagement.
Blogging is a long-term commitment but one that can offer a significant ROI if you’re willing to put in the work.
Actionable Steps:
- Choose a niche and set up your own website on a platform like WordPress.
- Create quality, SEO-friendly content.
- Monetise through affiliate marketing, ads, or selling digital products.
Difficulty Rating: 5/10
Join over 1,000 others learning how to go from £0-5k with just 60 minutes work a day.
Includes everything you need to create, build and sell profitable digital products in a niche you're already passionate about.
Starting an Agency
Starting an agency in the UK, whether it’s in marketing, recruitment, or another field, is a venture that requires a deep understanding of the industry and a knack for client acquisition.
You’ll need a portfolio to showcase your expertise and may even need to start as a solopreneur to build credibility.
Agencies like Jellyfish and Koozai started small but now service international clients, illustrating the growth potential in this space.
However, running an agency isn’t just about expertise in your field; it’s also about managing a team, handling client relationships, and maintaining cash flow.
The initial costs can be relatively low, especially if you start alone or with a small team, but scaling requires strategic financial planning and client management.
Actionable Steps:
- Identify your niche and service offerings.
- Build a portfolio through freelance work or case studies.
- Reach out to potential clients through networking and cold outreach.
Difficulty Rating: 7/10
Start an Etsy Store
Starting an Etsy store can be a rewarding venture for those who create handmade goods, vintage items, or craft supplies.
However, it’s not just about making products and listing them online. You’ll need to consider the cost of materials, production time, and shipping logistics.
Nikki McWilliams started selling biscuit cushions on Etsy and now runs a six-figure business.
Success stories like this demonstrate the platform’s potential but also underscore the need for quality products, excellent customer service, and effective marketing.
Promoting your store through social media and Etsy ads can help drive traffic, but you’ll also need to manage inventory, handle customer queries, and possibly deal with international shipping.
Actionable Steps:
- Decide on the products you’ll sell and calculate costs.
- Set up your Etsy store and list your products.
- Promote your store through social media and Etsy ads.
Difficulty Rating: 4/10
Become a Consultant
Becoming a consultant in the UK is an avenue for those who have amassed expertise in a specific field, such as IT, marketing, or HR.
However, expertise alone won’t cut it; you’ll also need strong networking skills and possibly some certifications to validate your knowledge.
Many former corporate executives in the UK have successfully transitioned into high-paying consultancy roles, leveraging their years of experience.
But consultancy isn’t just about advising; it’s also about selling your services, building client relationships, and delivering measurable results.
You’ll need to create a portfolio to showcase your expertise and may even need to offer free initial consultations to attract clients.
Once you’ve built a client base, the earning potential can be significant, but it requires ongoing effort to maintain relationships and deliver value.
Actionable Steps:
- Identify your area of expertise and target market.
- Build a portfolio and acquire any necessary certifications.
- Network and use platforms like LinkedIn to acquire clients.
Difficulty Rating: 7/10
Buy and Flip Websites
Buying and flipping websites is a unique venture that involves identifying underperforming websites, improving them, and then selling them for a profit.
You’ll need a diverse skill set, including SEO, content creation, and basic web development.
Several entrepreneurs such as Mushfiq Sarker have made a lucrative income from flipping websites, demonstrating the potential for high ROI.
However, this venture is not without its risks. Due diligence is crucial to assess a website’s potential for improvement, and even then, there’s no guarantee of success.
You’ll need to invest time and possibly money to improve the website’s performance, and only then can you hope to sell it for a profit.
But you can make 10k per month and more doing this if done right.
Actionable Steps:
- Identify potential websites for sale through platforms like Flippa.
- Conduct due diligence to assess the website’s potential for improvement.
- Improve the website’s performance and then sell it for a profit.
Difficulty Rating: 6/10
Dropshipping
Dropshipping is an e-commerce model that allows you to sell products directly from suppliers to consumers without holding inventory.
While this eliminates the need for storage, it presents its own set of challenges, including finding reliable suppliers and focusing on customer acquisition.
Many UK entrepreneurs have built six-figure dropshipping businesses, but success often requires a well-designed online store, effective marketing, and excellent customer service.
Platforms like Shopify can help you set up your store, but driving traffic and converting visitors into customers is entirely up to you. Paid ads and SEO are common strategies for customer acquisition, but these require ongoing investment and optimisation.
Actionable Steps:
- Identify a niche and find reliable suppliers.
- Set up an online store using platforms like Shopify.
- Focus on customer acquisition through ads and SEO.
Difficulty Rating: 8/10
Become an Influencer
Becoming an influencer in the UK is not just about posting photos or videos on social media; it’s about building a brand.
You’ll need a strong personal brand, a niche, and a dedicated following on one or more social media platforms.
UK influencers like Joe Sugg and Tanya Burr have turned their online presence into multi-faceted careers, showing the potential for significant earnings. However, building a following takes time, effort, and a consistent posting schedule.
Once you’ve built a substantial following, monetisation opportunities like sponsorships, affiliate marketing, and product collaborations can become viable, but these require ongoing effort to maintain brand integrity and audience engagement.
Actionable Steps:
- Choose a niche and build your personal brand.
- Grow your following through consistent, high-quality content.
- Monetise through sponsorships, affiliate marketing, and collaborations.
Difficulty Rating: 7/10
Selling Online Courses
Creating and selling online courses is an increasingly popular way to generate income, especially if you have expertise in a particular field. However, it’s not as simple as recording a few videos and putting them on a website.
You’ll need to conduct market research to identify demand, create high-quality content, and then market your course effectively.
Successful course creators like Rob Percival, a UK-based web developer, have made millions by offering courses on platforms like Udemy.
However, the road to such success often involves extensive planning, including curriculum development, content creation, and student engagement strategies.
Once your course is live, you’ll need to focus on marketing, which could involve anything from social media advertising to email campaigns.
The initial investment in time can be significant, but the long-term ROI has the potential to be substantial, especially as courses can be sold to an unlimited number of students.
Actionable Steps:
- Conduct market research to identify demand for your course topic.
- Develop a comprehensive curriculum and create high-quality content.
- Market your course through various channels, including social media and email marketing.
Difficulty Rating: 7/10
Start Affiliate Marketing
Affiliate marketing offers a way to earn money by promoting other companies’ products and earning a commission for each sale made through your unique affiliate link.
While it sounds straightforward, success in affiliate marketing requires a well-thought-out strategy, including choosing the right products to promote and the right platforms to use for promotion.
UK-based affiliate marketers have found success in various niches, from tech gadgets to beauty products. However, it’s essential to note that affiliate marketing is not a ‘get rich quick’ scheme.
It requires building a platform, whether it’s a blog, a YouTube channel, or a social media account, where you can promote products effectively.
You’ll also need to understand SEO and digital marketing to drive traffic to your affiliate links through an affiliate program.
Once set up, affiliate marketing can offer a fantastic way to make money online, but getting to that point requires a considerable amount of work and expertise.
Actionable Steps:
- Choose a niche and research affiliate programs that align with it.
- Build a platform where you can promote affiliate products.
- Learn SEO and digital marketing techniques to drive traffic to your affiliate links.
Difficulty Rating: 6/10
Join over 1,000 others learning how to go from £0-5k with just 60 minutes work a day.
Includes everything you need to create, build and sell profitable digital products in a niche you're already passionate about.
Freelance Writing
Freelance writing offers a flexible way to earn money based on your writing skills and expertise in specific subjects.
However, it’s not as simple as writing an article and getting paid; you’ll need to find clients, negotiate rates, and meet deadlines.
Successful freelance writers in the UK, like Jorden Roper, have built six-figure businesses by offering specialised writing services. However, building a freelance writing business requires a portfolio, client testimonials, and a marketing strategy.
You’ll also need to manage administrative tasks like invoicing and taxes. The earning potential can vary widely, depending on your skills and the markets you serve, but it can be a lucrative venture when done right.
Actionable Steps:
- Build a portfolio showcasing your writing skills and expertise.
- Network and use platforms like LinkedIn and freelance job boards to find clients.
- Set your rates and create a workflow for managing assignments and deadlines.
Difficulty Rating: 5/10
FAQs
How can I make passive income with £10,000?
You can make passive income with £10,000 by investing in dividend-paying stocks, peer-to-peer lending platforms, or real estate investment trusts (REITs).
These options offer varying degrees of risk and return, but they all provide the opportunity for your money to grow without active involvement. Dividend-paying stocks can offer quarterly or annual payouts, while peer-to-peer lending can provide monthly returns.
REITs offer the benefit of property investment without the hassle of management.
How can I make £10,000 fast?
Making £10,000 fast is possible through high-risk, high-reward ventures like day trading, cryptocurrency trading, or flipping high-value items.
However, it’s crucial to understand that the potential for quick gains also comes with significant risks, including the loss of your initial investment.
How to make £10,000 a month online?
Making £10,000 a month online can be achieved through a combination of methods like affiliate marketing, selling digital products or courses, and offering freelance services. Diversifying your income streams can provide stability and increase earning potential.
For example, you could combine a blog that has affiliate links with a YouTube channel that generates ad revenue, while also offering a high-ticket online course.
Conclusion - How To Make 10k a Month
Achieving a monthly income of £10,000 is an ambitious but attainable goal.
Whether you’re drawn to the allure of starting your own business, the passive income potential of investing, or the digital landscapes of blogging and affiliate marketing, there are myriad paths to reach this financial milestone.
The key is to choose methods that align with your skills, interests, and risk tolerance. Remember, each avenue comes with its own set of challenges and rewards, so due diligence and planning are crucial.
Combining multiple income streams can offer both stability and a quicker route to your financial goals.
So why wait? Take the first step today, and you could be well on your way to earning £10,000 a month.
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Disclaimer: Content on this page is for informational purposes and does not constitute financial advice. Always do your own research before making a financially related decision.
