How To Diversify Your Income & Earn More Money

Becoming a mom is one of the most beautiful and exciting experiences a woman can ever experience, taking you on a journey of love, compassion, joyfulness and exploration. Although being alone on this journey, without the father’s support, does come with extra responsibilities, it is also an empowering thing that can help you discover your strengths and prove that it doesn’t always take two to grow healthy, intelligent, well-behaved children.

Single moms are role models that can raise children who will change the world and they can find within themselves the power to overcome challenges that may seem insurmountable to some. One of them is running a household with one single pay check.

Single mothers who are looking for ways of earning more money are often given the same advice: get a second job. However, getting a second job is rarely the right solution, because with an extra salary come many downsides that are simply not worth it: stress, fatigue, health issues, not to mention too little time left to be there for your child.

The key to diversifying your income and gaining financial stability as a single mom is not to work hard, but to work smart. Regardless of your academic formation, previous job experience and current job, you can manage to make extra money without exhausting yourself by working fourteen hours every day. Here’s how:

Grow your career by expanding your skill set

Before considering getting a second job, think about the advancement opportunities your current job offers you. Is there a better paid position within the same organization that you could unlock by gaining more qualifications? If the answer is yes, look into ways to expand your skill set.

According to a recent study, most employers prefer to hire from within the company, simply because they know and trust that candidate. Learning a new language, for instance, is a great way to climb the career ladder and make your way up to a management position. Or, you could explore skills that are related to your field and that could give you access to more exciting projects. For example, if you currently work as a sports teacher, you can take an online course to become a certified personal trainer, which pays very well. Or, you can look for training in sports massage, which would allow you to enter one of the most lucrative areas of the massage industry. The trick is to try to learn constantly and always aspire to take a higher step. Contrary to common belief, you are never too old to learn a new skill.

Monetize your hobby

Indulging in your hobby is a great way to relax and spend some quality me-time, but did you know that your hobby can also become a source of income? Almost every pastime activity can be done at a professional level and turned into a business venture if you’re determined. Here are just some ideas:

  • Pet sitter. If you love spending time with animals, you’ll be pleased to find out that pet sitting jobs are in high demand. A few hours a week spent walking dogs or looking after the neighbour’s cat can bring in a few hundreds of dollars, so this might be a good option for you.
  • Freelance websites abound in writing projects and you are bound to find something that matches your style, whether that’s creative, academic or Web writing. Taking just a few projects on the side can rapidly turn into a prosperous job that would allow you to work from home.
  • Do you love being creative in the kitchen and experimenting with new recipes? Many people are willing to pay for this. You can bake cakes or cookies for special events or birthday parties or you can offer to cook for larger events too, such as engagement parties or baby showers.
  • Sewing is not only a way to relieve stress, but also make some extra money. There are many people who need to have clothing adjustments done, or they can’t find the clothes they are looking for in stores, and being the only one in the neighbourhood who can do this really pays off.
  • Drawing and illustration. Have you ever thought about your doodles as a way of making money and gaining artist recognition? There are many websites that allow creators to print their drawings on various objects (T-shirts, mugs, stationery) and receive money from sales.

Find a low-effort second job

If you cannot make ends meet any other way and you need a second job at least until you sort things out financially, look for flexibility first and foremost. As tempting as an additional salary may be, keep in mind that you are sacrificing your health, wellbeing and free time. Avoid getting a second job that involves working for an additional four hours a day, because you will have no time left to spend with your child and the stress could make you underperform at your main job.

Instead, find a side hustle that allows you to work from home, at the weekends, or make your own schedule.  Avoid jobs that involve working at night. Although they are easy to find and pay well, they are not healthy in the long run. A better idea would be to take on occasional part-time jobs in caregiving or in the service industry. If possible, accept a second job that matches your experience and interests, so that you can turn it into a lucrative career later on.

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