When you fire up an app and order food, or a ride somewhere, or reserve a cabin in Tahoe... you're participating in the "gig" economy.

Companies like Lyft and AirBnB allow everyday people to make extra income by using their homes or cars to generate cash. Pew Research recently estimated about a quarter of all Americans earns something through these apps.

But what does it really mean for their everyday lives? How much are people earning in the gig economy? Catherine New is the Senior Editor at the loan company Earnest and she crunched the numbers. She spoke to Libby Denkmann to break it down.

To listen to the full segment, click the blue play button above.