So you want to be a stay-at-home mom, but would also like to generate some cash and add money to your budget? Fabulous! Here are 10 ideas to get you started:
1. Have another child. While your own kids are an expense--albeit a wonderful one--taking care of someone else's child can be income. Consider babysitting in the evenings or nannying during the daytime. Get the word out that you're available via social networking, Craigslist or by just plain old word of mouth.
2. Impart brilliance. Don't hoard your special talents, share them. Piano, baking, geometry...think about what you love and do well, set a rate and place some ads for tutoring. $20 per hour, two hours a day, three times a week can generate a net figure of $480 a month. That should cover a few bills.
3. Pet a puppy. If you love animals and are able to walk or feed them, why not start a small side business? Plenty of people have attention-hungry dogs and cats. Ask your neighbors if they'd like you to come and care for their pets while they're on vacation or away for the day.
4. Work your computer. Editing, copywriting, blogging, designing websites, bookkeeping, being a virtual assistant: There are a plethora of money-making possibilities. Careful though, even if you're thinking about joining an established company, be sure to thoroughly check them out first since work-from-home scams are common.
5. Host parties. Chances are good that you've been invited to a candle, accessory or cosmetic fete lately. If you're gregarious and have a large network of acquaintances who enjoy shopping, you too may try representing a line of products. The upside: Strong earning potential and the ability to set your own hours. The downside: Alienating friends. Know when to back off.
6. Make and sell stuff. Are you one of those creative types who can sew American Girl-sized doll clothes, knit adorable hats or create unique Christmas tree ornaments? There may be demand for your crafts. Check out online marketplaces like Etsy or Ebay for inspiration.
7. Maximize your expertise. If you're an authority in your field, becoming an expert witness for lawsuits may be a lucrative venture that's open to you. Visit online expert directory services and add your CV to the roster. For reviewing documents and appearing in court, hourly fees typically begin at $150.
8. Toss newspapers. Less profitable than expert witnessing--but much easier--is taking on a paper route. Don't scoff; with a car and some early morning personal time, you can earn decent pocket change before the rest of the house wakes up.
9. Participate in focus groups. Again, hit the computer and search for companies that conduct paid focus groups. Place your name to the list and wait for a call. You won't make bank, but when selected you'll bring in a quick $50-$100 just for answering an hour's worth of questions about a product or service. The more reliable and available you are, the more you'll be called on, too.
10. Actually work from home. If leaving the kids at daycare and driving to the office isn't practical, or you if you simply adore your job and don't want to give it up, try telecommuting. Before quitting, meet with your boss and/or human resources department to see if you may conduct business from home. Such arrangements can be beneficial to the company as well, because they won't have to provide you with office space.
Finally, remember that simply desiring more money won't make it appear. Consider all options, broaden your scope and take action! You could build up your family's income significantly over time if you work hard and put the extra money you earn in a CD or savings account. Staying at home doesn't mean you can't earn money.
See more financial tips at Go Banking Rates:
- Why We Have a 40-Hour Workweek and How it Hurt the Economy
- 8 Money Issues to Resolve Before Walking Down the Aisle