If there’s something I’ve learned about finances as a stay-at-home mom, it’s this: living on one income is a challenge! It takes serious budgeting and even sacrifice at times to make it work. It’s no wonder many SAHMs decide to supplement with a side income by taking up a part-time job or start their own business. (Sometimes finances being a secondary reason to do so—the first being sanity.)
Personally, I do a conglomeration of things to bring in small bits of money. Though, with a two-year-old and a 6-month-old, there aren’t many long-term jobs I can commit to. At least, nothing that can’t be done in 20 minute bursts.
What sort of things can a SAHM (or other members of the family) do to bring in a little extra cash? Here are 8 ways to supplement a one-income household.
8 Ways To Supplement Your Income
The obvious part-time job
The best place to start if you don’t want to invest much up-front capital before making a side income is a part-time job. When I moved to the NC coast with my husband, I immediately found a position at my local library and applied. (Working in libraries is something I’ve done since I was 15.) For us it was a great way to supplement my husband’s income before we had kids. But part-time work can be a great option for moms with older children—or for the older children themselves!
Even though it was meager pay, it was still enough to pay for all of our gas and groceries, which definitely left us with more room in our budget.
I have a friend who worked as an attorney before becoming a mother. She wanted to stay home, but they still needed some supplemental income. Fast forward and her baby is now 6 months old and she works part time for our church! She has even been able to work from home much of the time.
Yet another example: I have a SAHM friend who is going back to teaching part time in the fall at the school her kids will be attending.
Thrifting & selling
Another great option if you have an eye for bargains is to thrift and re-sell. This could be any number of things. I know a family who puts on estate sales on the weekends. You could open a shop on eBay, or sell antiques or vintage collections on Etsy or at your local antique mall. You can even open a business account with Amazon.
Becoming a part-time buyer and seller could be as easy as hitting up a few yard sales or estate sales and opening an account online where you can purvey your fantastic finds!
Taking up a technical skill
If you are good at typing, look into transcription or other skills you can put to work right at your computer. You can become a virtual assistant if you are skilled on the web or check out hubs like Fivver where you can be hired for any number of technical skills.
You can easily apply for a job as a transcriptionist on websites like Transcribe Me.
Entering the blogosphere
If you are a talented writer and have a passion for [insert your interest here], then you can make a side income writing about it. Granted, this option involves… *deep breath*… a LOT of capital up front. No, not monetary capital, but it takes a lot of time to get a blog or website up and running and making you money.
Blogging is something I started doing a couple of years ago for fun. When I finally decided I wanted to make some sort of return on my efforts, I realized you really have to set aside time every day to make it work. And, as I mentioned before, with two small children, time is a precious commodity.
However, if you are able to dedicate even just an hour a day to your blogging, you will eventually see your efforts turn a profit.
I highly recommend launching your blog with WordPress and, when you are ready to move on to owning your own domain, transferring to Blue Host!
Teaching online
Did you go to college before you gave up all your career pursuits and became a SAHM? Hey, me, too, girlfriend. But that degree doesn’t have to go to waste. You can figure out a way to make that degree work for you on the side by teaching online.
Check out websites like Flex Jobs if you are interested in learning how you can start teaching online.
Starting a service-based business
Starting a service-based business can be a great way to make a side income if you have some extra time on your hands. This could be anything from tailoring clothing to dog-walking, or freelance writing to simple car repairs—it all depends on your particular set of skills.
I know a couple who recently started a business sand blasting. To put it simply, they saw a market for it, realized there weren’t any comparable businesses in their area, and started an LLC over the course of one year! They’ve had great success by simply finding a need and filling it!
Investing in rental property
If you are a more established family and happen to have some savings built up, a great option for side income is investing in rental property.
An example: if you lived around Charlotte, North Carolina (close to my home!) you could search for Charlotte homes for sale—think anything cheap, but with potential.
This is one of the better options I have seen for making money on the side, however, it does require a fair amount of monetary investment up front. Another cautionary detail for the real estate investor: the amount of upkeep required. Although this is an option that may be suitable for families with older kids, it is still worth considering if you have the time and resources!
Opening an in-home daycare
A last great option is opening an in-home daycare. Or, to make it even simpler, just keep some kids! There was a period of about 8 months that I kept my neighbor’s daughter a few days a week while her and her husband’s work shifts overlapped. It was a terrific way to bring in a little extra cash while also making enough money to pay for small things here and there.
It all depends on what season you are in…
The bottom line, as my Dad always told me, there’s always a way to make money. And I will further qualify that by saying this: it all depends on what season you are in. What may work for a family with small children (as babysitting worked for me) may be different from what works for families with older children. If your children are older, you may have more time or money available to start a business or invest in property.
If you are part of a one-income family, what are effective ways you’ve found to supplement your income?
Great info and well put together!