Trying to make your money go further? When you’re a single parent, every cent counts. Often, our first instinct is to cut costs, deprive ourselves, and go without in order to spread our money as thinly as possible. However, cutting back can only get us so far. Sometimes, the issue isn’t how we’re using our income — it’s the income itself.
Making more money can feel like a herculean task, but there are some subtle and simple ways to bring in extra cash. Here are some tips to help you boost your income:
The Side Hustle
If you’re already working full time or near-full time, you can consider adding a side hustle to get a little extra cash. When you’re taking care of a little one on your own, it’s important that any extra work you take on is on your terms. That’s why freelance and contract work is such a good fit for single parents. When you work as a freelancer, you set your own schedule, define your own workload, and can pick up or drop work as needed.
However, getting started as a freelancer can be a little tricky. Many people are unsure of what their rates should be, and wind up underselling themselves on the market. Here is the big freelancing secret: You’ll only get the money you fight for. Know your own worth, and don’t be afraid to turn down offers that don’t meet your standards.
Asking for a Raise
If you’ve been at your company for a while and you know you’re making an impact, ask for a raise. There is an art to the raise conversation — your first step should be gathering evidence of your impact on the company. This can be anything from figures showing value added or money saved on a project to feedback you’ve received from superiors saying you’ve done well. If you’ve had a written positive review, be sure to bring that along during the conversation.
Just as with freelancing, it’s important to know your worth and be willing to ask for what you want. The worst you can get is a “no.” That said, you need to be prepared with what a “no” will mean for you. Will you be willing to bargain down to a smaller raise? What if they’re not willing to give you a raise at all? Will that mean you look for different work? There’s no one right answer, but you should consider these questions before you begin the conversation.
Online Work
In today’s digital age, there are a ton of options for people who want to find work online. You can write for a blog, work as a social media manager, create your own online shop; you’re almost only limited by your own imagination. That said, there are potential pitfalls in online income generation. Turn to trustworthy e-commerce resources to make sure you’re on the right track.
Avoid Scams
Be sure to stay savvy along the way to avoid money-making scams. Pyramid schemes and other get-rich-quick methods target single parents because they know they’re a vulnerable population. Be wary of anything that promises instant results, and especially suspicious of any job that you have to pay to do.
We hope this article helps you find ways to bring in some extra money. Supporting a family alone is hard work, and any additional income can make it just a little easier. Here are a few freelance and work from home jobs you might want to consider:
- Blog writing can be a lucrative way to build your brand and bring cash in at once.
- Companies value Excel experts who can use Visual Basic to automate tasks.
- Graphic designers can make a tidy income designing logos and marketing imagery.
- Security specialists can perform audits to help companies ensure their data is safe.
- Web developers can bring a business’s website to life and make it good-looking.
Photo Credit: Pexels
Samantha A. Gregory is an author, consultant, and speaker. She’s a single-mom lifestyle, money, and parenting expert featured in The Washington Post, The New York Times, Essence Magazine, HuffPost, ABC News, and Mint.com.
Samantha founded the award-winning RichSingleMomma.com™, the first online magazine featuring personal finance, parenting, and personal development content and courses for single moms.
She aims to inspire women who are ready to thrive and not just survive in their single motherhood journey. Connect with her on Instagram @richsinglemomma.
