Being a stay at home parent is no easy ride. I think whether you work to provide for your children, or stay at home to care for them, both have their advantages and disadvantages. It’s a personal choice. However, many stay at home mum’s would love the opportunity to contribute to the household income in some way. Which is why I thought I could highlight a few ways you could do that. I hope it inspires you to make and save some money each month.
Reduce any debt
Debt is one of the biggest things that can eat into disposable income. Some people struggle to meet the payments or fail to reduce the amount they owe. But this is where you can miss a trick. If you are savvy, you can slowly chip away and clear off the debt once and for all. The first thing to do is to check out your credit rating; you can do this online at places like My Credit Monitor website. This will give you an indication of where you stand when it comes to your credit history. Doing things like switching your credit card balance to a card that has a zero interest offer. Or even consolidating it all into one smaller affordable monthly payment. You have the chance to research all of this and make good financial decisions to better your circumstances.
Turn a hobby into a business
If you have a hobby that people are constantly commenting on, then why not consider turning it into a little money maker for yourself. Or even a small business. The one main advantage of doing this is that a hobby tends to be something you enjoy doing, so you won’t lose heart or passion. You don’t have to create an amazing website. Thankfully with websites like Etsy and eBay, it’s even easier to use bigger platforms to get things started.
Start a blog
Blogging has grown in popularity these last few years. Many parents are turning to the internet for advice off real mothers instead of reading what the “experts” say. This is where a blog has now turned into a business and an opportunity to earn money for many mothers. Don’t expect to earn fortunes overnight. But if writing and sharing your experience is something you think you will enjoy there is no harm in trying. Consider using websites like WordPress and Blogger to create a free blog, to begin with.
Monitor your outgoings
Money can be made just in the everyday bills. Or at least savings to increase your disposable income. But not many people take advantage of this, and just let their bills leave their bank accounts each month. The thing is, if you are savvy enough, switching providers can offer huge savings. Switching enables you to take advantage of introductory offers. Which can help reduce your outgoings each month. Thanks to comparing websites it’s much easier now than it ever was.
Take control of the spending
Finally, take control of what you spend and save when you can. A worthwhile trick is to have “no spend” months where you don’t buy any luxuries. Or start doing things like meal planning to reduce your food shopping bill. All of these things can add up over time, increasing your disposable income each month.
I hope that some of these have inspired you to make and save money on your household income.
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