3 Ways Parents Can Make Extra Money
As a parent, the need for more money is always present. A parent constantly faces financial challenges when it comes to supporting their kids. Just when you think as a parent that you are in good financial standing, something will come along that upsets your financial plans. There are three ways that a parent can make extra money to cover unexpected financial emergencies.
1. Sell Things You Don’t Need
There is a difference between needs and wants. Every parent is faced with decisions when it comes to where to spend their money. While the kids may “want” the latest gaming system and you may want to provide it that is not a financial emergency, there are cases where you will be faced with an immediate financial emergency that needs you to generate cash quickly.
Some examples of financial emergencies that you may come up against as a parent include paying for medical care for a sick child, legal expenses for a child that made a bad choice, or covering the cost of unexpected car repairs to ensure, as a parent, you can provide transportation for the kids.
Emergency situations require emergency responses. About 5% of Americans, according to Income Strategies Magazine, pawn their jewelry when they need immediate cash. It is a quick solution to generating more cash fast. In the same vein, you can quickly sell equipment and other property that you are not using on an online marketplace.
2. Start a Side Hustle
There is plenty of “gig” work online that any parent can pick up. If you have any types of skills like writing, data entry, organization skills, or another skill set, you can parlay those skills into cash by joining the “gig” economy. Working as a freelancer doing what you already know how to do can generate extra cash when you need it.
What if you are a stay-at-home parent and you need some extra cash? Consider offering childcare services in your community. Every parent needs a little help from time to time with caring for their kids. You can make an easy $20 an hour on your terms providing babysitting services for parents that need to get away for a couple of hours. The beauty of offering childcare services if you have children of your own is that the kids will have someone to play with. It is like a play date that you get paid to supervise.
2. Start a Small Business
You may be thinking, as a parent, you do not have the extra time to start your own business, but you do. How can you run a small business and spend time with your kids? Make the kids a part of the process. Starting a small business can be as simple as investing in a power washer and offering power washing services on the weekends. Power washers can spray with about 2,000 pounds of force according to the Power Washing Association. These powerful tools can clean decks, pavement, the exterior of homes, and more.
Starting your own business on the weekends can generate plenty of extra cash. You never know where starting your own business will take you. You may wind up starting a business that generates enough work that you can eventually quit your “day job” and dedicate yourself to owning your own business with plenty of income.
Advertising online and having a content strategy in place can drive business right to your door. About 63% of small business owners do not have a content strategy that is documented in place according to the MMC. A good content strategy could be a game changer for your business.
There are ways any parent can generate extra income. Get creative and think outside the box to find your hook for making extra income. Start by learning more about ways any parent can generate more money.