Extra Income is the income that you earn apart from the regular income you have coming in from a traditional 9 to 5 job.

These earnings can be used to payoff any outstanding debts or build up a capital account or spend it on luxuries that you could only dream of before.

Everyone seems to want a second income, but no one wants to work a second job, so the extra income is normally seen as a windfall.

When we compare income levels in different countries, it is evident that the average income per person is less than $15,000 a year. Many people are near the breadline and extra income really does make people happier and improves their way of life.

For those countries that have average income above the normal subsistence level of approximately $15,000 a year, happiness seems to be income independence. For example, an average American ranks richer than an average Indian or an Austrian, but is also less happy.

Why is this so? People always look at their income relatively with some norm or the other and the norm continues to rise all the time. This norm is what increases the spending, more or less in direct proportion to the income being earned. Two things drive up the norm with which people compare their incomes. One is the income that they themselves have experienced -- which habituates them to higher standards of living. And the second is the income that their colleagues or neighbors get, which they try to exceed.

The extra income options available today are targeted to generate employment and are targeted specifically at people who can use their skills, which are lying dormant to make more money for themselves. To achieve a moderate success in generating an extra income one should be aware of their strengths and weaknesses. This would greatly help in selection of the most suitable way to generate extra income.

The selection process consists of logical steps. First you should ask yourself what is your honest opinion of your strengths, what do you excel at? What do people around you continue to compliment you on?

For example, if you are computer literate you could help your neighborhood in upgrades, repairs or installation of software.

Doing extra seasonal chores like raking leaves in the fall or clearing snow in winters can also augment the extra income. These are just a few ideas. Making an extra income augmented with self-analysis will take away the need for a second job.

Today the Internet and the general market have a lot of ideas for generating extra income. Network marketing in general market terms has been successful to some extent. Internet offers something similar that says affiliate marketing. The Internet also offers a host of other options like writing, advertising and simple technical non-technical jobs, which can highly increase your regular income. The extra income that can be earned from these opportunities will depend on how good your skills are in the field of your selection.