Being a stay-home mum or dad can feel like a full-time job. The workload is far from light and you are constantly at the beck and call of boss babies – minus the pay check. This can be a drag on household finances.
To lessen the financial burden, here are five money-making opportunities that don't require you to leave the house or sacrifice precious time with your children. And if you make a little extra on the side gig, you can always shower your family with the occasional treat.
1. Participate in Market Research
How much money can you make?:
About US$60 per hour, although opportunities can be sporadic given the frequency of such studies.
Getting paid for your views is probably the easiest way to make some money for an hour's work. With the coronavirus still not letting up, most market research studies have moved online. You can answer questions while nursing your little tot and no one will find out.
Market research topics can be anything from website/app usability testing to in-home interviews. Participation will depend on whether your profile meets the project's requirements.
Since most companies conduct their studies once every three to six months, consider registering with several market research firms to up the opportunities. Supplement this with simple online surveys that pay a token sum for your time, and this should help tote up the funds. More tips to get going.
2. Flip Products for Profit
How much money can you make?:
The sky's the limit, depending on how much effort you put in.
Here's a side hustle that should hone your bargain-hunting prowess. Flipping products – where you buy cheap and sell high for a profit – can be a lucrative side gig as these stay-home mums flipping products on eBay.
Some popular niches such as limited edition sneakers and even vintage trailers may require more capital and risks, but they can command a higher price. When it's time to resell, you don't have to look further than online with marketplaces like eBay and Facebook Marketplace .
The longer you spend flipping products, the better you’ll get at working out what sells and for what price. Whatever the product, keep in mind that the goal is to always buy low and sell high.
3. Start Your Own Blog
How much money can you make?:
Reality check - this is not a get-rich-quick scheme. Not every blog succeeds. However, perseverance and determination can be powerful ingredients.
There are enough success stories about couples with blogs who have turned these into real businesses. Thanks to the Internet, there's no shortage of help advice on getting your blog started and working. If you have a special skill, passion or hobby, you can also use your blog as a retail platform.
The key is to start somewhere. This step-by-step guide for beginners can help jumpstart that blog.
4. Work as a Customer Service Agent from Home
How much money can you make?:
About US$10 - US$20 an hour, depending on the company's rate.
If you have a friendly, patient and helpful personality, this side gig may be for you. The job typically entails a phone, messaging, email, and social media to answer customer questions and provide information and assistance. You will need a relatively quiet space in which to work uninterrupted. There may also be time zone differences depending on where the customers are.
If you have a rowdy toddler to keep an eye on, consider a chat agent job. This is basically customer service, but through the company's website's pop-up chats. Check out this how-to guide to see if you have what it takes to be in customer service.
5. Boost Your Finances With Copy Trading
How much money can you make?:
It depends. If you copy a trader with US$10,000 and he/she makes 4% in a month, that's US$400 profit at the end of the month.
You can be a newbie and still benefit from financial markets, thanks to something called copy trading. Also known as mirror or social trading, this lets you (the copier) connect a portion of your portfolio to that of a more experienced trader (master). This allows you to replicate the latter's trading transactions. If the master makes a profit, so would you.
It is crucial to understand that copy trading is not a magic wand. There is no guarantee that all copied trades will be profitable. There are risks inherent in any form of investing, including forex trading. This guide keeps it real.
If you are still interested to check out copy trading, Share4you provides a legit and reliable platform to try this out. You can see all the previous accounts of every "Leader" who allows his/her trade to be copied. Share4you also lets copiers leave feedback right on a trader's page. This transparency lets you get a complete picture before you pick your Leaders.
Another nifty feature on Share4you is that, once you become a successful forex trader, you could be a "Leader" yourself. You can then share your trading for others to copy, for a renumeration of course!
