In the past 50 years or so, two-income families have become the rule rather than the exception. And it’s gotten harder and harder to support a family on one income.
This means it is often very difficult to have children, due to the high expense of childcare. Depending on location, per-child daycare costs can run from $800-$2,000 a month. In many cases (particularly with two or more young children) this is close to or even more than one parent makes per month. So, that parent will stay home and take care of their children. However, as stated previously, it is often very difficult to support a family on one income.
It’s also hard to manage finances when one member of a couple becomes disabled. They may qualify for disability payments, but the average monthly disability payment is just $1,022 per month – often far less than the person could make when they were working.
Or maybe you live alone and just can’t make ends meet. You may already work a full-time job, but still need extra income. Average wages across the U.S. (and to some extent across the world) have stagnated and even declined in recent years. The middle-class has really suffered. While I personally hope that changes in the future, we have to deal with the situation as it is right now.
Previous posts have discussed ways to save money, which can be very helpful in the case of one-income households. But what do you do if you have already cut expenses to the bone?
Technology Creates Options to Make Money
Luckily, the Internet provides some new and creative ways to generate additional income from home. In a previous post, I talked about how you can use Reddit as a source of alternate means of employment…or just for beer money.
Today we’ll delve into some other options for earning extra cash.
If you need an extra source of revenue, you should first think about where your skill-sets lie. Are you a good writer? Do you enjoy crafting? Are you good at web design or coding? Are you bilingual or highly knowledgeable about a particular topic?
Options for Writers
I’ve dabbled a bit into freelance writing. There are some great sites out there that allow you to submit writing samples and get started making money right away. While the per-word income offered to start isn’t that high, you can make $10 an hour without too much effort. And if you spend a little time working at it, you can find private clients and start making some real money – as much is $30+ per hour. Here are some of the sites I’ve worked for:
Here are some other sites that I haven’t worked for, but that have good reviews online:
You can also do what I’ve done and start your own blog. Blogging for income requires some marketing skills in addition to writing skills, but may be worth exploring if you are knowledgeable about a particular topic.
Options for Crafters
I don’t know if you’ve explored Etsy yet, but it is an amazing source of one-of-a-kind items. You can find jewelry, clothing, furniture, baby blankets…really anything you can think of. I get some of my birthday and Christmas/Hanukkah gifts there, and they are usually a hit.
But this post isn’t about spending money, or about wasting countless hours looking at steampunk pendants. It’s about making more money.
It’s easy and free to set up an Etsy shop. You’ll have to pay a listing fee per item you offer for sale, and you’ll have to pay a transaction fee per item you sell. These fees are generally pretty reasonable.
Making a lot of money on Etsy will require time and talent. But it is possible. Here’s a list of 15 Etsy stores that bring in more than $5k a month.
You can also try selling your crafts on Ebay. Ebay still gets a lot of monthly traffic, and may offer some selling options that aren’t available through Etsy.
Options for Web Designers, Coders, and IT Workers
Web Design, Coding, and General IT knowledge can be pretty lucrative. I know a little web design myself, so I’ve spent some time doing small tasks on Upwork (previously Odesk). You can find thousands of small tasks and larger jobs on Upwork – from writing to web design to creating videos. Once again, signing up for a free account is quick and easy.
Options for Tutoring and Educational Jobs
I don’t have any personal experience tutoring from home, but many people make a great living doing just that. This could be a great option for you if you have a teaching or educational background. In some cases, you don’t need to have any teaching experience, as the companies provide training.
Some of the most popular sites are:
These are just some of the options available for generating income from home. There are many others, and I encourage you to some research. There may be a way to make money doing something you enjoy.
And isn’t that what we’re all looking for?