Tips for Moms to Make Extra Money

Whether you are a stay-at-home mom or have a full-time job, you might want to make a few extra dollars while taking care of your kids. The good news is that it isn’t hard to do that when you know where to find money-making opportunities.

Save Money

While this isn’t exactly a way to earn money, if you are able to spend less, you’ll have more to put in your savings account. A big way of saving money is to refinance Parent PLUS Loans using a private lender. You might be surprised at how much you can set aside each month. That’s because you might be able to get a lower interest rate if you have a stable income and a good credit score. Don’t just look for the big areas you can save in, though. Small savings can add up. For example, if you purchase a $5 coffee on your way to work, you might be spending over $1,000 each year. Consider investing in a coffee machine, reusable thermos, and some quality coffee so you can make your own.

Look into Index Funds

When you save money, you’ll be able to better use what you already have. For example, index funds are an easy way of earning money from home. The secret to investing is not necessarily to invest thousands of dollars, but to begin doing it early. For example, let’s say through saving and your other methods of earning money, you’re able to set aside an extra $170 every month. If you find a fund that pays around 10 percent interest, you’ll have over a million dollars four decades from now. That money can do a lot for you when it comes to retirement. It’s sometimes hard to find a good index fund, but if you can, they’re often safer than getting stock in one company. That’s because they invest in many companies. Start with your local bank when looking for one to invest in.

Be a Virtual Assistant

Being a virtual assistant is a great chance to earn some dollars from home if you’re busy. You might go through email inboxes, respond to emails, schedule travel plans, or edit a business’s social media. The great thing is that you can often do this job on your own schedule, which is perfect if you can only work for a few moments here and there.

Sell Crafts Online

This is a great way of boosting your monthly income if you do it right. The trick is to get the word out about your products, and an easy method of doing this is to create some free samples. Then send them out to bloggers in your niche. If they create a post about it, they can keep these items. That’s a great way to bring in more traffic and boost your chances of making a successful sale. The amount you earn can vary, but it’s not uncommon to earn at least enough to cover your supply costs and perhaps your internet bill.