How to Make $10,000 a Month as a Student World

Ladies and gentlemen, everyone wants to know how to make ten thousand dollars a month as a student. The issue is there's a lot of misinformation and people making it seem easier than it actually is. In this post, I'll break down the three main components you need to focus on to make ten thousand dollars a month as a student.

Finding the Right Vehicle

The first thing you need to hit ten thousand dollars a month as a student is the right vehicle.  Achieving ten thousand dollars a month as a student is possible. I hit ten thousand dollars a month when I was 17 years old, and by the end of that year, I was hitting 30 to 40 thousand dollars a month.

Avoid Trading

Trading is out the window. Many traders try to sell you on trading because they make money when you lose. Even if you have a thousand dollars, turning that into ten or twenty thousand dollars in a year is very difficult. On the other hand, investing a thousand dollars into starting a lean online business can yield tens of thousands of dollars by the end of the year.

Service-Based Business

You need a business that spits out free cash flow—profit you can actually use. For instance, a service-based business can be highly profitable. Offering services like building marketing funnels, creating short-form content, or managing Google ads for e-commerce brands can bring in significant income. The key is to offer something with high perceived value to clients or something that allows you to leverage other people’s work.

High Leverage

To make ten thousand dollars a month, you might need to hire people below you. For example, if you're an online personal trainer, hiring additional coaches can help you scale. Similarly, if you run an agency that creates YouTube thumbnails, hiring designers from countries with lower costs of living can increase your profitability.

Stretch Out the Timeline

The second component to making ten thousand dollars a month is to stretch out the timeline. Social media has skewed our perception of success. Twenty years ago, making four thousand dollars a month without a traditional nine-to-five job was impressive. Today, many feel depressed if they aren’t making ten thousand dollars a month.

Set Realistic Expectations

Set your expectations in years, not months. It took me three years to have my first ten thousand dollar month, and that's fine. The internet moves quickly, and you have more opportunities now. Even if it takes you three years, who cares? Making twelve hundred dollars a month online is amazing, and when it rains, it pours.

Understand Business Growth

Business growth often involves flatlining and then shooting up. This is normal. Cement each new level and set a strong foundation before moving to the next. This way, your expectations are clear, and you won’t quit before you properly try.

Maintaining and Growing Wealth

The third component is not just getting to ten thousand dollars a month, but staying there and growing it.

Consistency is Key

Making ten thousand dollars a month is the easy part; maintaining it is harder. Keeping and multiplying your money requires studying and understanding how to grow your wealth sustainably. For instance, building a proper e-commerce brand can be challenging because profits often need to be reinvested into new stock. In contrast, a service-based business can offer more consistent cash flow.

Financial Baselines

Everyone has financial baselines. For me, six years ago, it was a thousand dollars a month. Now, it's significantly higher. Once you get to ten thousand dollars a month, make it your financial identity. It’s not just about what you aim for; it’s about what you consider unacceptable to go below.

Conclusion

Making ten thousand dollars a month as a student is achievable with the right vehicle, realistic timelines, and a focus on maintaining and growing your wealth. Remember, each step in your journey builds a stronger foundation for future success.

I hope this has been useful to you, and as always, I'm rooting for you.