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Finding a second source of income to augment the household budget
There are many sales and discounts this season, and usually, you wake up early to shop and be the first to get that most desired item you have in your shopping cart.
But what's holding you? There is a lot to consider with budgeting nowadays.
Your plate is full of so many concerns.
One sizeable chunk of your thought goes to the household budget.
You have little ones, and you do want to leave them at home. As much as you want to spend time with them and see all the tactics and milestones they have, you have to earn a living.
You have to hustle and drag your feet for your 9-5 job.
The primary reason for your sacrifices is your kids. To provide all their necessities and a little indulgence once you have some extra amount to splurge.
Currently, you have a limited budget, and you are guilty of not having enough for your family. What can you do?
One thing you can look at is your expenditure. Determine first how you receive your salary. Is it bi-monthly or once a month? Then work your budget from there.
Here are practical tips on budgeting for the family.
Before going to the store, write all the essentials you need for the week or two.
1. Plan out your meals for 2 weeks or however you deem it necessary that suits your budget. From there, extract the list of the materials and ingredients you need.
Let's assume no more fancy dine-outs, and so you have to prepare and prefer nutritious dinners for everyone.
2. List down all necessary commodities you need. Check your kitchen for what is lacking, but make sure it is of high importance, like salt or sugar; you can let go of other spices and focus on the essential ingredients.
3. Check for left-overs that are still in your fridge, which you can modify to create a new menu, like a fried or broiled chicken into chicken salad or the likes so, that already slash chicken in your grocery list.
Stick with your grocery list
1. Stick with what you wrote on your list.
2. Refrain from strolling to inessential aisles.
3. Instead of buying 3 kinds of cereals, try only one type but an enormous pack.
4. Buy generic rather than branded ones.
5. Do not linger long in the store if you have all you need in your cart; go and checkout
6. When you are used to buying food from Target, maybe you can buy some in Food for Less. Do you get the idea? Find a cheaper store.
Set aside for fixed expenses like electricity, water, internet, phone bills, insurance
1. Before going down on your grocery list, set aside the amount for your fixed expenses, especially if the due date comes first before the next paycheck.
2. Prioritize fixed expenses because it will save you a headache when they are due
Pay the most essential and looming due dates. For the rest, you can roll your budget for other stuff.
1. If you can work around the due date, like, two bills' dues are later than your next paycheck, you can set them aside and pay only what is urgent.
2. Roll your budget into other essential ones but do not be too complacent in spending; remember that you need to save or tighten your belt this time.
Utilize available toys for kids, repaint or clean to appear immaculate
Of course, you want to give your little ones something new to add to their collection, but since you are being challenged financially, here's what you can do:
1. You can clean some old toys or repaint them if you have any colors.
2. Kids have shallow happiness, so some hand-me-downs from their older siblings will be new toys for them.
3. Be resourceful and creative. You can have the family schedule a once or twice-a-week puppet show out of carved boxes or any other materials you can use.
Avoid shopping for clothes and footwear you won't be needing in the next 3 months.
1. Avoid too much browsing online for something to buy; you can maximize what you have in your closet.
2. It won't hurt to rehash the fashion you had last fall. Others are too busy to notice since they also have their own predicament.
Be mindful of loose change
1. Save up loose change whenever you have a chance upon some
2. It will save you for later petty expenses, which you do not need to slash from the family budget
It does not make you a lesser human if you become a frugal home-maker and thriftier, but not necessarily stingier. Your family is your priority; therefore, all the more, you have to augment your needs.
There are lesser overtime tasks nowadays because of pandemics, so it constricts the chance to earn bigger.
Are you thinking of finding some side hustles or do you have the skill you can make money from?
Yes, make money, do not look for it because it doesn't grow on trees.
Here are a few jobs you can look into which can augment your household budget
Blogger
If you love writing and have many topics under your sleeves, this side gig is for you.
2 Types of Bloggers
1. Paid guest blogger—many websites pay writers for their articles and blog posts. The rate ranges from $40-$100. Read the guidelines before sending your write-ups.
2. Freelance Blogger—You have options to do:
You can send pitches to some publications, big and small, and submit your topic to them
You can state your expertise and pitch the subject you want to publish on their site
Of course, don't forget to have in-depth research of the publication you wish to write to
You need to submit a relevant write-up for the website's audience
Virtual Assistant
Virtual assistants are assistants who do administrative tasks and employers' schedules.
1. Business owners/entrepreneur VAs usually hire virtual assistants to do admin work, arrange employees' files, answer emails, and meet and travel arrangements.
2. E-commerce VAs- here are the primary responsibility of a virtual assistant in the E-commerce Marketplace
Updating of products on selling platforms
Managing promotions
Continually updating the pricing details
Processing of orders
Handling of shipping
Managing returns and exchanges
Ensuring customer satisfaction
Taking care of your finances
Voice Over
Also called off-stage talent. There are so many opportunities for voice talents out there. You can find agencies and companies who need this kind of skill.
Here are a few opportunities you can choose from and showcase your vocals:
Voice Actors for Children's Books
Audiobooks
Television
Radio
Theater
Advertisements
Medical Transcriptionist
Some MDs outsource medical transcriptionists or summarize a medical history.
The pay is per page
Tutor
This opportunity has been there for some time.
English Tutors are highly in demand nowadays, esp in non-English-speaking countries.
The pay is fairly competitive.
Drop-Shipping
Find online businesses that allow drop-shipping.
You get to post ads to sell the product; once you have the lead, you transact with your price and forward the order to the merchant for picking, packing, and delivery.
The bulk order you get, the better you get paid.
You need to create a Facebook or Instagram page or whatever platform you deem appropriate to market the product.
Affiliate Marketing
Amazon offers affiliate marketing; you can browse and sign up.
That's global, and you get paid for every sale performed from the link you have
The merchant provides you with a unique link to share.
In Asia, Shopee has an affiliate marketing program, which you can navigate to know more about.
The pay varies, but some platforms offer affiliate marketing, and they have a very high percentage per every referral, but of course, you also have to pay the monthly dues
Other Alternative to Earn
As a working mom, I understand that your time is precious, and you want your remaining time to be spent with your kids.
So, setting the side hustle aside, let's look at the treasures in your own closet. Yes, you heard me! You can post outgrown clothes and stuff for your kids.
And do not look further; you have too many shoes or bags that you have not remembered you have.
Remember, the goal is to augment the limited budget you have.
Also, take note, that you are not poor, only challenged financially, for now.
Here are e-commerce platforms that accept second-hand selling that can add up to your family budget
1) eBay
It's a worldwide marketplace connecting buyers and sellers globally
When you put your items on the list, select international so that your product will be visible on eBay's local and international market
2) Facebook Marketplace
Facebook is the most popular social media platform today, and it created marketplace as e-commerce within the forum
All you have to do is have your Facebook account and post in Marketplace with all the details
You can transact with the buyers directly
3) Carousell
Both brand new and used stuff is for sale on this platform. You can create an account and start posting your pre-loved but well-loved items.
There is international shipping but not advisable since you will deal with a costly shipping fee more expensive than your product.
The app can be downloaded through the App Store and Google Play.
4) Shopee
Shopee is e-commerce in the Asia Pacific
Selling both brand-new and second-hand stuff
The app can be downloaded through App Store and Google Play
5) Instagram
You can create a business page through Instagram, take pictures of the items you wished to sell, tweak and lay out a little, and ola! You are ready
You can use your existing account or sign up for a business page
Make use of available and relevant hashtags for your business; you will be more visible using this technique
6) Offer Up + Let Go Marketplace
This is not available in some countries but try if it's offered in your continent
Offer Up and Let Go merged and is one buy and sell marketplace
You can sell your second-hand stuff, from furniture to your socks
Find the app through App Store or Google Play
7) Wallapop
It's a global flea market where you can earn extra from selling your used-stuff
Find the app and start selling and making money. It's available on Google Play and App Store.
8) Varage Sale
It's a virtual rummage sale to buy and sell your used and unused second-hand stuff
App available in Google Play and App Store
TAKE AWAY
You may feel hopeless with the exorbitant bills and mortgage month after month. If you are using credit cards, you may resort to maxing out your credit limit because you think that's your only way out.
But, hey! With all the options I have mentioned above, your determination is the only virtue you need this time.
I understand the uncertainties; I've been there. I even thought of succumbing to a permanent solution to a temporary problem, and do you have any inkling of what that was? Yes, you got it right. I thought of ending my suffering. I got out unscathed!
Money flows, and you have to make it stream freely by giving and receiving it.
Budgeting is not an easy task, primarily if you only depend on one income source or two, counting your spouse's. But would it harm you if you will try to find another way to earn in the confines of your home?
The goal is to make money to augment the tight budget for the family, to provide you with a little slack.
Scroll up and reread the alternatives stated above and tell me if this won't help you and make you a wiser home-maker.
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