Millions Earn an Extra $700 a Month — So Can You

Millions Earn an Extra $700 a Month — So Can You
Photo by ptnphoto /

Millions of Americans are bringing in hundreds of extra dollars every month through side hustles.

A Bankrate report released this year shows that 37 percent of adults have a side job. For many side hustlers, the extra effort is lucrative. Bankrate found that the average person earns an extra $686 a month thanks to their side hustle. That amounts to an additional $8,232 a year.

Bankrate found that 59 percent of people who make extra money on the side use it as disposable income, and 38 percent use the money to help pay for expenses.

Finding the best side hustle for you

Thanks to the internet, the gig economy is flourishing. There are probably more ways than ever to bring in extra money, and you can read all about them in Money Talks News stories.

Just to name a few examples, we’ve detailed how you can make money by:

You can even get paid for doing shopping you were going to do anyway and for achieving your own fitness goals.

For plenty of other options, check out the articles in our “Make” category.

Putting the money to work in the best way

There are great ways to use the extra income from a side job to improve your financial situation.

You can pay off debts. We’ve got some ideas for how to do that in our story “7 New Ways to Destroy Your Debt.”

Using extra income to pay down interest-bearing debt like credit card debt or car loans reduces not only your debt, but also the amount of additional money you pay in interest over the life of the debts.

Or, if you don’t have debt, use the money as savings in an interest-bearing account.

Putting extra income in an interest-bearing account like a high-yield savings account allows your extra money to generate even more cash for you in the form of interest. Additionally, you’ll have savings to fall back on in the case of an emergency, which will decrease the chances of you going into debt to cover an unexpected expense.

Check out the Money Talks News Solutions Center for help finding a higher-paying savings account.

Have you ever made extra money with a side hustle? Tell us about your experience below or on our Facebook page.

Popular Articles

These 13 States Tax Social Security Income
These 13 States Tax Social Security Income

Uncle Sam is not the only one looking for a piece of your retirement income. Is your state on this list?

The Golden Rules of Becoming a Millionaire
The Golden Rules of Becoming a Millionaire

I’m a millionaire several times over. I got here the same way you can — by following these 10 simple steps.

13 High-Paying Jobs You Can Do From Home
13 High-Paying Jobs You Can Do From Home

Hoping to work from the comfort of your bedroom? These home-based careers bring in good pay.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Trending Stories