How to Make an Extra $800 a Month

Earning an additional $800 each month can significantly enhance financial stability and provide flexibility. Many individuals seek practical strategies to boost income, manage rising costs, reduce debt, or build savings. This guide provides actionable approaches for increasing monthly earnings.

Utilizing Personal Assets

Generating income can begin by leveraging owned possessions or property. Various platforms allow transforming underutilized assets into revenue streams, often with minimal upfront investment.

Renting a spare room or property through platforms like Airbnb can provide substantial income. All earnings are taxable and reported to the IRS. Income is typically reported on Schedule E, Supplemental Income and Loss, for basic hosting. If extensive services (like daily cleaning) are offered, it may be considered a business and reported on Schedule C, Profit or Loss From Business, potentially subject to self-employment tax. A notable exception is the “14-day rule,” where rental income for 14 days or less within a calendar year is not reported, nor are expenses deductible.

When renting part of a personal residence, expenses like mortgage interest, property taxes, utilities, and insurance must be divided proportionally. Deductible expenses include cleaning fees, maintenance, advertising, and professional fees. If depreciation is claimed, that amount may be subject to recapture and taxed as ordinary income upon the property’s sale.

Renting a personal vehicle via car-sharing platforms like Turo is another avenue. Earnings are taxable and generally subject to self-employment tax, as hosts are typically considered materially participating in a business. Income and associated business expenses (platform fees, maintenance, cleaning, depreciation) are reported on Schedule C. If total tax liability from self-employment income exceeds $1,000 annually, quarterly estimated tax payments to the IRS may be required to avoid penalties.

Selling unused or unwanted items can generate quick cash. For most casual sales, income is not taxable unless an item sells for more than its original purchase price. If a profit is realized, it is a capital gain reported on Schedule D. If selling becomes a regular activity with intent to profit, it may be classified as a business, requiring reporting on Schedule C and potentially incurring self-employment tax.

Renting personal storage space (garage, shed, or unused basement) is an emerging option facilitated by platforms like Neighbor. This monetizes vacant space without extensive interaction. Income from renting these spaces is generally rental income and reported on Schedule E. Regardless of the income source, earnings from third-party payment platforms may result in a Form 1099-K if specific thresholds are met ($5,000 for 2024, $2,500 for 2025). All income must be accurately reported to the IRS.

Local Service Opportunities

Providing direct, in-person services within one’s community offers flexible supplemental income, leveraging existing skills and local demand. These opportunities involve direct client interaction and can range from casual to structured engagements. Income from these services is generally self-employment income.

Pet Sitting and House Sitting

Pet sitting, dog walking, or house sitting cater to busy pet owners and travelers. Platforms like Rover connect individuals with clients, or opportunities can be found through local networking. This work requires reliability and care for animals or property. Earnings, after deducting business expenses like transportation or supplies, are reported on Schedule C.

Tutoring

Tutoring in academic subjects, music, or specialized skills allows sharing knowledge while earning income. This can involve working with students of all ages, in homes, libraries, or educational centers. Rates vary based on subject complexity and tutor experience, from $20 to $70+ per hour. Expenses like educational materials or travel costs are typically deductible.

Cleaning Services

Offering cleaning services for residential or commercial properties is a consistent income stream. This can range from general house cleaning to deep cleaning or move-out services. Clients can be found through word-of-mouth, local advertising, or online directories. Necessary expenses include cleaning supplies, equipment, and transportation.

Lawn Care and Handyman Services

Lawn care, gardening, or handyman tasks appeal to homeowners needing property maintenance. Services include mowing, landscaping, minor repairs, or seasonal yard work. Marketing through local flyers or social media groups can help build a client base. Costs of tools, fuel, and vehicle maintenance are deductible business expenses.

Babysitting and Senior Care

Babysitting or senior care involves providing companionship, assistance with daily activities, or supervision for children and older adults. These roles demand trustworthiness, patience, and often certifications like CPR or first aid. Local referrals are common ways to find clients. Income from these services is reported, and related expenses like background check fees can be deducted.

Online Income Streams

Leveraging digital platforms offers numerous ways to generate income remotely, providing flexibility and access to a global client base. These online opportunities encompass tasks from skilled freelance work to accessible microtasks. All earnings are taxable.

Freelance Work

Freelance work in fields like writing, graphic design, virtual assistance, or data entry allows offering specialized skills to clients worldwide. Platforms like Upwork and Fiverr serve as marketplaces. Rates vary significantly based on expertise and project complexity, potentially ranging from $15 to $100+ per hour. Deductible expenses include home office costs, software subscriptions, and internet service.

Gig Economy Services

Participating in the gig economy through online apps for delivery or rideshare services provides flexible earning opportunities. Companies like Uber Eats, DoorDash, or Lyft allow individuals to work on their own schedules. Earnings are typically based on completed deliveries or rides, with common deductions including vehicle expenses and phone costs.

Online Surveys and Microtasks

Taking paid online surveys or completing microtasks offers a straightforward way to earn small amounts. Websites like Swagbucks or Amazon Mechanical Turk provide platforms. While per-task earnings are often low (a few cents to a few dollars), these tasks are accessible to almost anyone with internet access and require minimal specialized skills.

Transcription and Translation

Online transcription or translation services allow individuals with strong linguistic skills to convert audio/video to text, or translate documents. Platforms like Rev or Gengo connect transcribers and translators with clients. Accuracy and efficiency are paramount; earnings are often based on per-minute or per-word rates. Necessary equipment, such as a good quality headset, can be deducted.

Developing Skill-Based Offerings

Transforming talents, knowledge, or hobbies into structured income-generating ventures allows monetizing unique abilities. This approach often involves specialization and can evolve into a formalized business. Income generated is generally self-employment income.

Teaching Skills and Online Courses

Teaching specialized skills or hobbies (music, coding, art) can be done in-person or online. Creating and selling online courses through platforms like Teachable or Udemy reaches a broader audience and generates passive income. Pricing varies based on skill demand and instructor expertise. Deductible expenses include teaching materials, software, and marketing costs.

Selling Handmade Goods

Creating and selling handmade goods or crafts through platforms like Etsy or local craft fairs leverages artistic talents. This can include jewelry, custom artwork, or knitted goods. Success depends on product quality, marketing, and understanding market trends. Expenses like raw materials, tools, packaging, and platform fees are deductible business costs.

Consulting and Coaching

Offering specialized consulting or coaching services in a niche area provides an opportunity to advise individuals or businesses. This could range from financial planning to marketing strategy or career coaching. Establishing credibility through experience and networking is essential for attracting clients. Professional development, marketing, and home office expenses are common deductions.

Photography Services

Providing professional photography services for events, portraits, or commercial purposes requires artistic skill and specialized equipment. Building a portfolio and marketing through social media or a personal website are important. Equipment purchases, editing software, and travel to photo shoots are deductible expenses.

Personal Training

Personal training or fitness instruction allows individuals with health and fitness knowledge to guide clients in achieving their goals. This can involve one-on-one sessions, group classes, or online coaching. Certifications, gym memberships (if required for client access), and marketing are typical expenses.