The 5 Ways I Earn Money on Substack (And You Can Too)
Without relying on a large following
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When people hear how I and others make money on Substack, they usually only think about paid subscription, as this is Substack’s main (or actually only) monetization method as of 2025.
That’s not wrong. I do make money from paid subscriptions. But it’s not the only way.
If you’re wondering how I and other writers make money on Substack without relying on a huge subscriber base and following, here’s how it works for me with about 2500 subscribers.
1. Paid Subscriptions (from the Loyal Few)
Let’s start with the obvious one I already mentioned.
Substack lets you charge for your newsletter. I offer both a free version and a paid version. In contrast to many other Substackers I know, however, I don’t put a lot of stuff behind a paywall and try to gain paid subs that way. I don’t hit a paywall constantly.
I also want my stories to become more visible on search engines to get organic search traffic. Paywalls make that harder.
Most people read for free, and that’s perfectly fine.
Nevertheless, a small percentage chooses to pay — either because they want the extra content, want to support my work, or accidentally clicked the subscribe button while half-asleep.
Again, I don’t push this too hard. I mention my paid newsletters in the welcome emails and about page. That’s it.
Even if it’s just a few bucks a month from a handful of paid subscribers. I am glad they decided to support me.
Now, let’s talk about the other ways to make money on Substack, which make up the bulk of my earnings.
2. Affiliate Links
(But Only to Stuff I Actually Use)
I’m not into pushing random products just for a commission. It’s tempting. We’ve all been there.
But when I’m already using a tool, service, or product that I love — and they happen to offer an affiliate program — I’ll share a link. That’s what works best.
This includes things like writing tools, software I use to run my solocreator business, apps I enjoy, or resources I think my readers would benefit from.
I never slap affiliate links all over the place like a discount code piñata. I just mention them naturally when it makes sense. And only a couple tops.
Surprisingly, people do click a lot. Some even buy. So I get a little kickback — without turning the whole newsletter into a shopping catalog.
It’s a great system.
3. Sponsored Sections
I sometimes partner with companies/brands that align with what I write about — tools, platforms, or products my readers would actually care about.
They get a shoutout in the newsletter, usually a short paragraph or a banner with a link, and I get paid.
This isn’t the full-on, awkward sponsored post kind of thing. I still write my normal content. The sponsor just gets a small space within the issue. Readers don’t seem to mind, especially if the product is relevant. And I keep it brief.
The key here is working with brands I use or find very interesting— not just whoever’s waving money around. That way, I don’t feel like I’m selling out or annoying my audience.
4. Selling My Own Digital Products
This is one of my favorite income streams because it’s fully in my control.
I’ve created a few digital products — things like templates, guides, or designs— that I sell through Gumroad.
They’re based on stuff I’ve learned or systems I use in my own work. I promote them in the newsletter regularly, usually with a quick link, image, and a short description.
If someone’s been following my writing for a while and trusts what I share, they’re more likely to buy. It’s not pushy (I hope), it’s just a natural extension of the topics I already talk about.
Now, I will say: Gumroad is great, but it does feel slightly disconnected from Substack, because it’s a different platform to manage. Some people might not want or like that.
I have a cool alternative for those of you who don’t want to use Gumroad or similar platforms: It’s called Sidestack*.
If you want to make the buying experience smoother for your readers — without sending them off to another platform — Sidestack lets you embed a buy button directly inside your Substack posts.
It’s pretty neat. And extremely easy to use. Sidestack has a simple backend to create your product, and it connects to Stripe for payment.
That’s it. It’s also free!
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5. Tips
Last but not least: tips. Good old-fashioned appreciation in the form of a few bucks sent through Ko-fi.
To be honest, I rarely do this anymore, but I used to include a link in my footer that says something like, “Enjoying the newsletter? You can buy me a coffee.” And sometimes — surprisingly often, actually — people did.
No expectations, no strings attached, just a nice little gesture of thanks. Some have even suggested that Substack should integrate a one-time tipping method directly into the platform for people who want to support but can’t afford or don’t want to commit to a monthly subscription.
Cool idea. Has some issues as well. People might opt for the one-time tip more often and recurring revenue is harder to come by. Stuff to think about.
Back to Ko-Fi: This tipping method is easy, but it can add up over time.
If you’re writing for an audience that cares about your work, it’s worth thinking about this option. It’s free, it’s easy, and it gives readers a way to support you even if they’re not ready to commit to a monthly subscription.
The Bottom Line
No single method makes a fortune on its own. But together, these five income streams create something solid, diversified earning system.
TL:DR:
Paid Subscriptions — a small, supportive group of paying readers
Affiliate Links — honest recommendations that happen to earn a cut
Sponsorships — short, relevant ads from brands I trust
Digital Products — templates, guides, or other resources I sell myself
Ko-fi Tips — occasional “thank-you” donations from kind readers
Each of these feels sustainable and authentic. I mean, we all want to make money. That’s a given. Nothing wrong with that.
Making money on Substack is possible without a large paid subscriber base. A good selection of options can add up quickly.
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Thanks Burk, great post! I love how you include affiliate links in your post–simple and not too salesy. I have a question about your subscription tiers. How do you give paying subscribers a 50% discount on all of your products? Do you create an individual discount code for each paying subscriber, and then cancel it if they cancel their subscription?
Thanks for putting Sidestack on my radar! Even though Substack doesn't have an open API, it's been cool to see people still finding a way to make products for the platform.