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Easy Ways To Boost Your Income

Of all the people I know and love, I can’t think of anyone who wouldn’t welcome a small income boost this month–or any month, for that matter. Whether you’re between jobs, figuring out how to cover an unexpected bill or hoping to stash more cash into savings, get your creative juices flowing with these ideas.

A person posing for the camera


You need term life insurance (8 to 10 times the annual income of the single breadwinner; in a two-income family, insure each spouse for 6 to 8 times annual gross salary). But you can confidently cancel duplicate coverage: credit card life insurance, mortgage life insurance, accidental death and child life.

Caution: Get a term life policy first if you don’t have it, then cancel the duplicates. Don’t leave even a tiny gap between coverage.

The Boost: Add up what you’re paying for credit card life insurance, life insurance on the kids and the mortgage, plus any riders you have for accident insurance. What was offered to you for “just pennies a day” is probably more like $100 a month. Or more.


Has your teenage driver brought home a great report card? Most auto insurance companies will knock about 10 percent off the top if an insured teen maintains a 3.0 GPA. Is there an educator in the family? Mercury Insurance and others give credentialed teachers and educational administrators a discount. If you have a bachelor’s degree in an engineering or a science-related field (biochemistry, mathematics and more), Mercury offers a discount. Insurers also give discounts of 20 percent or more when you insure all of your cars with one company.

Caution: Don’t assume that discounts are automatic—you have to speak up. Ask to see a complete list. (Note that not all companies offer the same ones.)

The Boost: Insurers’ special discounts can be added together onto a policy. This can really add up.


If you receive a tax refund, rethink it: that’s your money you’re lending to Uncle Sam an interest-free loan. To have less withheld from your paychecks, file a new W-4 with your employer, increasing the number of allowances you’re claiming.

Caution: Don’t over-adjust or you could end up owing the IRS next year. Get out your latest federal tax return, then go online to figure out how many allowances you should take (go to IRS.gov, then click on “Withholding Calculator” in the “Individuals” section).

The Boost: If you’re getting a $2,000 tax refund, adjusting your withholding will increase your net income by about $163 each month.


Taking a second job at a crafts store made all the difference for Kathryn, one of my readers. “It was challenging to go to my second job, but I boosted our income enough to get us through a rough patch,” says Kathryn. Typically, food service, drugstores and some retail stores offer part-time work conducive to moonlighting.

Caution: Unless you’ve suffered a loss of income, taking on a second job could push you into a higher tax bracket. Run the numbers before you make your decision.

The Boost: How much you can earn depends on the jobs available. Kathryn worked 10 to 20 hours a week at her second job, earning a little more than minimum wage. This increased their household income by up to $400 net for each of the six months she moonlighted.


Everyone has a gift, something that they can offer the world. There are three sites you should visit to get a feel for which one fits your abilities, talents and skill. Upwork.com is an online workplace where small businesses connect with qualified professionals to get work done. If you are a writer, programmer, graphic designer, marketer or have other skills to offer, you can bid on jobs and get paid for doing what you do best. Fiverr.com is a global online marketplace offering tasks and services, beginning at a cost of $5 per job performed, from which it gets its name. TaskRabbit.com is an online and mobile marketplace that allows users to outsource small jobs and tasks to others in their neighborhood. Users name the task they need done and the price they are willing to pay, and a network of pre-approved contractors bid to complete the job. Think of TaskRabbit like eBay for real-world labor. The internet is filled with reputable freelance companies in a multitude of industries.

Caution: Make sure your daytime employer, if you have one, has no restrictions on freelancing.

The Boost: At Upwork.com, jobs vary and can pay $500 per project for writers, $1,000 per project for programmers. Fiverr and TaskRabbit vary according to the work performed. Check them out for more information.

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7 replies
  1. Ken Turner says:

    How can one determine when their house may be over insured? We have the assessment by the tax assessor. We may have a quote from a home finder. What is the right and true figure to insured your home? You do not want to under insure but most importantly you do not want to over insure in which your are losing funds that could be bank or pay off your other debts.

    • Mary Hunt says:

      I’ve researched this extensively with insurance professionals and while there are several methods, the one that makes the most sent to me is to insure replacement. If it currently is costing say $200 a square foot to build a home in your area, that’s the number I would insure—your home’s square footage X $200 = Value to insure.

  2. Mary O'Gara-Abel says:

    I know it’s really YOUR money when you get a tax refund (which we haven’t qualified for for years) and should really adjust the amount of “dependents” you are claiming so you will be getting that money in your paychecks every month and not to the IRS for their interest-free loan, but did you know that having to pay TOO much in at the end of the year can work against you? You can get penalized for owing too much at the end of the year. The IRS WANTS the use of your money ALL YEAR long. If you have to pay in several thousands, they get really mad. The overtime my husband worked was put into savings and also used to update our bathrooms. Guess what? We had to pay it all back! We are not wealthy or rich and did not use the extra $ on a new car, but put it to good use. Thanks IRS. You got most of it back. $6,500 worth! So unfair.

  3. Pat says:

    Up until a few years ago I had one full time and three part time jobs when I was raising my daughter. It was tough but it sure helped with raising my daughter especially since they were under the table jobs. I couldn’t do it now. I even got to take my daughter with me which was really nice.

  4. Pat says:

    I wish I could claim my brothers (I claim one) and my grandkids but I never know if their mother will show up and take them so I don’t think it is an option for me. No I can’t get custody, I can’t afford a lawyer and if I tried she would come and take them for sure. I have them because it is the safest place for them. Both my brothers are disabled but one of them is able to live alone and could move out if he wanted to so I don’t claim him until the end of the year which means I get about $6000 back with the kids and two brothers. I would love to have it during the year but am afraid I would owe money if I claimed them during the year. My CPA (she does my taxes free, got her on freecycle) has never suggested I do that so guess that is another reason I have never done that.

  5. disqus_GALxbu3w3u says:

    All of these are good ideas.
    Just a word of advice for those thinking of pulling a second job- make sure you’re healthy enough to do it! I worked a full-time and took on a part-time job since I needed extra income I have chronic health issues but needed the money and figured it was the only way I knew how to earn cash. My health took a turn for the worse and my doctor asked what the heck was going on. He gave me advice and I work only part-time now and feel so much better! Your health IS your wealth!

  6. Linda L says:

    Hi, Some insurance companies offer a discount if your house mortgage is paid. Unfortunately, I found out a couple years after I paid off the mortgage. I save a couple hundred dollars a year since I let my house insurance company know, but it’s not any information they asked.


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