How to Make an Extra $200 Each Month

Achieving an additional $200 in monthly income can significantly enhance personal financial stability and flexibility.

Earning Through Gig Economy Apps

Gig economy applications offer flexible opportunities to earn income by connecting individuals with short-term tasks or services. These platforms typically allow users to work on their own schedules, making them suitable for supplemental income. Income earned through these apps is generally considered self-employment income, meaning individuals are responsible for their own tax obligations.

Food delivery services, such as DoorDash or Uber Eats, require a reliable vehicle, a valid driver’s license, insurance, and a smartphone. Earnings often include a base pay per delivery, potential bonuses, and customer tips, which can vary based on location and demand. Ridesharing platforms like Uber or Lyft have similar vehicle and licensing requirements, with income influenced by factors such as ride distance, time, and surge pricing. Individuals can deduct qualified business expenses, including the business use of their vehicle, using the standard mileage rate.

Other task-based apps, like TaskRabbit, connect users with various local services, from furniture assembly to handyman work. The specific tools or skills required depend on the tasks chosen. When engaging in these activities, it is prudent to track all income and related expenses. If annual net earnings from self-employment reach $400 or more, individuals are generally subject to self-employment tax, which covers Social Security and Medicare.

Selling Items and Creative Works

Generating additional income can involve selling physical items or creative digital works. This approach allows individuals to monetize unused possessions or artistic talents. Proper record-keeping of sales and associated costs is important for financial reconciliation.

Selling unused personal items like clothing, electronics, or household goods can be done through online marketplaces or local consignment shops. Platforms such as eBay typically charge a final value fee, which is a percentage of the total sale amount, usually ranging from 8% to 15% depending on the item category. Poshmark charges a flat fee of $2.95 for sales under $15 and 20% for sales over $15. Generally, selling personal items for less than their original purchase price does not result in taxable income.

Individuals with creative skills can sell handmade goods or digital products. Platforms like Etsy facilitate the sale of crafts and vintage items, charging a listing fee of $0.20 per item, a 6.5% transaction fee on the total sale price (including shipping), and a payment processing fee of 3% plus $0.25 per transaction. Digital products, such as templates or e-books, can be sold directly or through specialized marketplaces. Income derived from selling handmade goods or digital products is typically considered self-employment income, subject to the same tax considerations as other self-employment activities. All relevant expenses, such as material costs and platform fees, can be deducted to reduce taxable income.

Offering Personal Services

Leveraging personal skills and time to provide direct services offers another avenue for supplemental income. This category encompasses a variety of hands-on services that address common household or personal needs. Establishing clear service terms and pricing is beneficial for managing client relationships.

Services such as pet sitting, dog walking, house sitting, or tutoring can be offered to local communities. Individuals can find clients through neighborhood connections, community bulletin boards, or specialized online platforms designed for these services. For example, platforms like Rover connect pet sitters with pet owners, often taking a service fee from the earnings. Cleaning services or yard work also present opportunities to earn income by assisting neighbors or local businesses.

The income generated from these personal services is typically classified as self-employment income. This means individuals are responsible for reporting their earnings and paying applicable self-employment taxes. Keeping detailed records of income received and any business-related expenses, such as cleaning supplies, pet care items, or transportation costs, is important for tax purposes.

Participating in Online Tasks

Online tasks provide a flexible way to earn small amounts of income, often with a low barrier to entry. These activities are characterized by their digital nature and can typically be performed from any location with internet access.

Taking online surveys is a common method, with platforms offering modest compensation, often ranging from a few cents to a few dollars per survey. Microtask platforms, such as Amazon Mechanical Turk, allow individuals to complete small, repetitive tasks that computers cannot easily do, such as data validation or image tagging. The pay per task on these platforms can be very low, sometimes just a few cents, and average hourly earnings can be minimal. Amazon Mechanical Turk charges requesters a fee of 20% on the reward paid to workers, with an additional 20% for tasks with 10 or more assignments.

User testing websites involve providing feedback on the usability of websites or applications. Participants typically record their screen and voice as they navigate a site, sharing their thoughts aloud. These tests often pay between $10 and $30 per test, with each test usually taking 10 to 30 minutes to complete. Some platforms, like UserTesting, pay $10 for a 20-minute test. All income earned from these online activities is taxable, and individuals should maintain records of their earnings for tax reporting purposes.