So, you’re wondering how to make $20,000 fast and need some ideas to get started.
Making this sort of money in a short period of time isn’t an easy task. After all, $20k is a massive amount of money!
However, if you’re in a financial pinch or are looking to grow your savings, you’re in luck.
There are actually numerous ways to make 20,000 dollars fast that you can turn to if you need quick money.
So in this post, I’m covering some online and offline ideas to make $20,000 fast to help you reach your financial goals.
Let’s get to it!
How To Make $20k Fast
One quick note on expectations before jumping into ways to make $20k quickly.
When I say “fast” it’s really important to have realistic expectations.
So, set a goal and timeline for earning $20,000 fast, but also make sure you have realistic expectations and know this process will likely take a few months for many people.
1. Online Freelancing
One realistic way you can get $20k fast is to sell your skills online as a freelancer.
I also have a personal story to share here which is how I know this idea works.
When I graduated college, I started working full-time at an online advertising agency. But I also got into freelance writing and paid ads consulting on the side after work.
Between these two hustles, I was able to make an extra $3,000 per month some months by really grinding, which is definitely a significant increase in income.
And eventually, I quit my job, moved down to Colombia, and went full-time with freelance writing and blogging.
The point is, freelancing can be very lucrative and pay a high hourly rate depending on your industry.
And writing is just one example of how you can make money freelancing.
Other popular freelancing industries include:
- Graphic design
- Social media marketing
- Website design
- Video editing
- Virtual assistant work
Freelancing on the side while holding down your main job is my recommendation for getting started.
Plus, many freelance gigs can easily pay $25 to $50+ per hour depending on your client and skill level.
In terms of making $20,000 dollars fast, it can still take several months of freelancing to make this sort of money.
However, a few stable clients who pay well can net this amount within a couple of months, and I even know some freelancers who make more than this per month.
2. Job Hop
Another idea to earn $20,000 fast is to job hop.
This is actually a more common strategy than you’d expect as well. According to a Gallup poll, six in ten millenials are open to new job opportunities, and 21% of millenials have switched jobs within the last year.
The fact is, job hopping is one of the best ways to quickly increase your salary and build wealth.
This is especially true if the company you’re at doesn’t have much upward career progression potential and you can’t increase your seniority or responsibilities at the company.
Personally, this was one of the main mistakes I made after graduating; I stuck around at the same ad agency for about 2 and a half years.
When you job hop, you can usually snag a higher salary and more responsibilities. Some offers even come with stock bonuses or equity depending on the company’s stage.
The bottom line is job hopping is a way to make $20,000 fast, and even if you get less than this amount, it could be a smart career move!
3. Affiliate Marketing
If you know how to build an online presence, making money with affiliate marketing is another realistic way to make $20k quickly.
Personally, I earn about $10,000 per month from various affiliate marketing programs I’m a part of.
What’s great about affiliate marketing is that your income potential is basically endless.
Plus, you can turn affiliate marketing into a passive income stream if you promote programs that pay you recurring monthly fees for recruiting new users.
And by signing up new users every month for these companies, I can reliably make extra money.
In fact, some lucky days have even made $1,000 in a day just through affiliate income!
Granted, making 20k fast with affiliate marketing requires all the upfront work to build your online audience.
But this is why I think passive side hustles like blogging and YouTube make sense to start today so you have access to these income streams in the future.
4. Food Delivery Gigs
Speaking of gig apps, another method to earn $20,000 dollars fast is to work for various food delivery gigs.
Now again, this is where it’s important to have some realistic expectations.
Companies like DoorDash pay $23 per hour on average according to nationwide data.
At this rate, you’re looking at hundreds of hours of dashing to reach your goal.
However, between your day job, other income streams, and delivery jobs like DoorDash, you can reach that goal much faster versus relying on one single income source.
5. Borrow The Money
If you’re still wondering how to make $20k fast, you can always resort to borrowing the money.
There are also several options you can take here.
For starters, people often turn to family and friends to borrow. However, you need to decide if this is something you’re comfortable with since $20k is a lot of money.
Similarly, some people go through their bank or other lenders to get extra capital.
Finally, lending companies like Zippyloan let you borrow between $100 and $15,000, and you can get the money as soon as one business day.
Whatever path you choose, you always need to read fine print, know what loan you’re taking on, and think carefully about the entire process.
But if you need $20,000 now, borrowing the money could be an effective solution.
6. Rent Out Assets
Another idea to earn $20,000 dollars fast is to rent out stuff you own for profit.
You’d actually be amazed at how many things you can rent out to other people thanks to the sharing economy.
Here are just a few ideas to get started:
- Renting out your home or a spare room as an Airbnb host
- Renting out your car with Turo
- Renting out an RV with RVShare
- Renting out spare storage space with Neighbor
- Renting out cameras or other electronics on Fat Llama
If you live in a large city, renting out some of your assets several times per month could mean hundreds or even thousands of dollars in extra income per month.
If you spread this over the course of a year, it can help you reach your goal of a quick $20,000 that much faster.
7. Sell Assets You Own
Another straightforward method to get $20,000 dollars fast is to sell off stuff you own.
Granted, you’re going to need a lot of stuff if you’re making this sort of money, but it’s probably one of the fastest ways to achieve this goal.
And the good news is there are tons of online and in-person marketplaces you can use to sell stuff with:
- eBay: One of the best global marketplaces for selling just about anything.
- Depop: A resale marketplace that’s perfect for clothing and thrifted finds.
- Mercari: An incredibly popular selling app that’s very beginner-friendly.
- Poshmark: One of the best platforms for selling clothing, accessories, shoes, and jewelry.
- The Facebook Marketplace: A great way to sell stuff you own for in-person, cash sales.
Categories like apparel, electronics, toys, and video games typically sell very quickly.
Or, perhaps you have a lot of gold and silver in your come, or something else of value.
Whatever the case, liquidating your assets is a viable way to raise quick cash.
And, you can also consider pawning stuff for money instead if you want to leverage your assets to borrow money rather than selling them off completely.
8. Start An Ecommerce Business
One final idea for making $20,000 fast is to launch your own ecommerce business.
Again, like affiliate marketing with blogging or YouTube, this sort of business takes time to build.
However, the potential to make a lot of money in a short amount of time with ecommerce is tough to match.
For example, one of my friends runs a handcrafted pottery Shopify store.
When she has an exclusive product drop where people can buy her limited supply of pottery, her inventory sells out rapidly and she can make thousands of dollars in a single day.
This is just one example of a more “exclusive” feeling ecommerce business model that can earn a lot of money quickly.
But you have plenty of other options as well!
One semi-viral idea in the print on demand world can make a ton of money, and people do this all time time by making money with memes or other trendy fashion ideas.
Again, you need a pretty creative idea to stand out from the crowd.
However, if you want to launch your own business and turn it into an income source, I think ecommerce has a ton of potential.
Extra Reading – How To Make $1,000 In 24 Hours.
Tips For Making $20,000 Fast
Now that you know how to earn $20,000 dollars fast, here are a few tips you can follow to make the process slightly easier!
- Set Micro Goals: Earning $20k fast is hard. But figuring out how to make $400 fast, or some smaller amount, is much more manageable.
- Try Several Ideas: Sometimes, an income stream can only accomplish so much before you hit an earning ceiling. So don’t be afraid to try various driving gigs, online business ideas, and investing methods to work up to this income goal.
- Avoid Burning Out: Making $20k fast isn’t easy, so ensure you’re getting enough sleep and pacing yourself so you don’t burn out a month or two into your progress.
Extra Reading – The Best Jobs That Pay $5,000 Per Month.
I hope our guide on how to make $20k fast helps you accomplish this ambitious income goal.
Just remember: setting small goals is your friend here since this is how people can accomplish much larger goals.
Best of luck!
Looking for even more money-making ideas? Checkout:
- How To Turn $10,000 Into $100,000.
- The 10 Best Ways To Make $500 A Day.
- The Best Jobs That Pay $100 An Hour.
DoorDash Disclaimer: Actual earnings may differ and depend on factors like number of deliveries completed, time of day, location, and expenses. Hourly pay is calculated using average Dasher payouts while on a delivery (from the time you accept an order until the time you drop it off) over a 90 day period and includes compensation from peak pay, tips, and other incentives.
Tom is a full-time blogger and freelance writer with a passion for side hustling, passive income, and the gig economy. His work has appeared on dozens of personal finance websites like Money Crashers, The College Investor, Investor Junkie, and more. This Online World is all about providing people with honest ways to make and save more money by using technology. To learn more about Tom, read his About Page!
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