How to Make an Extra $100 Each Month

Earning an extra $100 each month is an achievable financial goal for many. This can be met through various accessible methods that do not typically demand extensive time or specialized expertise. This article explores practical strategies for reaching this financial milestone.

Online Micro-Tasks and Freelancing

Online platforms offer numerous opportunities to earn supplementary income by completing small tasks or providing entry-level services remotely. Engaging in online surveys and micro-tasks involves completing short questionnaires or performing simple digital actions like data entry, transcription, or image categorization. Platforms such as Amazon Mechanical Turk or dedicated survey sites facilitate these activities. Earnings can vary, often from a few cents to a few dollars per task.

For those with more time or specific skills, basic freelancing offers higher earning potential. This can include virtual assistant roles, where tasks might involve email management or scheduling, typically paying around $15 to $30 per hour, with entry-level rates sometimes starting around $6 to $15 per hour. Simple content writing, such as blog posts, might yield $0.05 to $0.25 per word for beginners, or project-based rates of $50 to $200 for a 1,000-word article. Other entry-level freelance opportunities include graphic design for basic logos or social media management.

Individuals engaging in these activities should be aware of tax obligations. Income generated from online micro-tasks and freelancing is generally considered self-employment income and is subject to self-employment tax, which covers Social Security and Medicare taxes. The current self-employment tax rate is 15.3% on 92.35% of net earnings. If you earn $400 or more in net earnings from self-employment, you are generally required to pay this tax. Furthermore, if a single payer compensates you $600 or more for services in a calendar year, they are typically required to issue a Form 1099-NEC.

Local Service Provision

Offering services within your local community presents a direct way to earn additional income through in-person engagement. Pet care services are a popular choice, encompassing activities such as dog walking, pet sitting, or feeding animals while owners are away. Dog walking rates typically range from $14 to $22 per hour, with the average hovering around $17.20 per hour.

Childcare and eldercare also provide avenues for local earnings. Babysitting rates commonly range from $15 to $25 per hour, with the national average around $23.61 for one child and $26.57 for two. Rates can be higher in urban areas. Assisting seniors with errands, light household tasks, or providing companionship are other options. Household chores and odd jobs like yard work, house cleaning, or minor repairs are consistently in demand. House cleaning services might command $25 to $50 per hour.

Finding these opportunities often involves leveraging community networks. Local social media groups, neighborhood forums, and word-of-mouth referrals are effective ways to advertise availability. Local classifieds, both print and online, can also connect service providers with potential clients. Income from local service provision is considered self-employment income and is subject to the same tax rules as online earnings.

Selling and Reselling Goods

Generating income through the sale of physical items offers a tangible way to earn extra money. Decluttering your home and selling unused items like clothing, electronics, books, or furniture is a straightforward approach. Various platforms exist for selling these items, such as local online marketplaces, online consignment shops, or mobile applications.

Selling crafts and handmade goods can be a fulfilling venture. Items like jewelry, knitted products, or custom prints can be sold through specialized online marketplaces or at local craft fairs. These platforms often charge various fees for listing or selling items.

Another strategy involves basic reselling, often referred to as “flipping,” where you purchase items at a low price and sell them for a profit. This can involve finding deals at thrift stores, garage sales, or online clearance events.

Platform fees are an important consideration when selling goods. On Mercari, a 10% selling fee is applied to the combined item price and buyer-paid shipping. Poshmark charges a flat fee of $2.95 for sales under $15 and 20% for sales of $15 or more. eBay typically charges final value fees ranging from 8% to 15% of the total sale amount, plus a per-order fee, with the percentage varying by category. Facebook Marketplace does not charge fees for local pickup sales, but a 10% selling fee or a minimum of $0.80 applies to shipped items. Income from selling goods, particularly if done regularly with the intent to profit, is generally taxable. If you sell personal items for more than their original purchase price, the profit is taxable. For business income from reselling, the same self-employment tax rules apply as for services. Online marketplaces are generally not required to issue a Form 1099-K unless gross payments exceed $20,000 and there are more than 200 transactions.