You already know that starting out is tough when you first have kids. Learning how to budget for a family takes some time and effort, but it is well worth the reward. Luckily, there are many ways to make additional income in your spare time. While you may be chuckling at the idea of free time, there are plenty of options that can be done from the comfort of your home or after the kids have gone to sleep.
Try Your Hand at Entrepreneurship
Take on a side job as a sales rep or brand ambassador that only takes up 10 to 15 hours of your time per month and brings in a substantial amount of income to your household. Companies such as Amway give you the power to start your own business and be your own boss. There are no scheduling restraints to abide by, allowing you to work as you please.
Some companies recruit brand ambassadors that are only needed intermittently during special events and festivals. Typically being a brand ambassador allows you to bring your family along with you to help out at the company's booth to help entice others to come and learn about them.
Get a Move On
Uber allows anyone with a clean driving record and a car newer than a 2004 model to become a taxi driver. This opens up a new set of working hours that won't butt in to your family time. Uber drivers work whenever they want to, sometimes only working for a couple hours on the weekend to bring in a few extra dollars for a future family vacation.
Put Your Skills to Good Use
If you have a special talent or skill, put it to good use to make some extra cash. For example, if you're a good writer, find freelance websites that are looking for copywriters and copyeditors. If you're crafty, set up a shop on Etsy to sell your goods. If you're the world's greatest baker, cater birthday parties or sell your treats at festivals and farmers markets. There are plenty of ways to monetize your skills in the age of technology; you just have to put in a little effort to find them.
Evaluating Your Need
You may not need to take on another source of income if you're properly managing your money. Take a look at your household income and your monthly expenses to get a better sense of how much expendable income you have to use for vacations, entertainment and so forth. If that amount is not substantial enough to fit your family's desires, consider one of the above options to meet your family's goals.
However, if you're close to your goal, you may be able to cut back on other expenses to save for something you really want. For example, eat at home rather than a restaurant one more day out of the week to save money. You also should consider meal prepping as a way to save on your grocery bill, carpooling to save on gas and repurposing items instead of buying new ones.