I’ve always been a really avid saver. I started saving for retirement when I was about 11. However, I also am prone to bad decisions and some serious bad luck. So two upside down loans for a job that didn’t pan out and being homeless for over two years left us in a precarious financial position. I have lots of debt, a car that needs over $1,000 in repairs and most recently my emergency savings was drained to $17. And I’m a stay at home parent right now for a pile of reasons.
It’s not all scary financial messes. My husband has a very good job with good benefits that pays weekly. I still have my retirement savings, virtually untouched. We have a very cheap apartment.
But it’s time to build that emergency savings back up, fix that car and tackle that debt. Here’s some of the strategies I’ll be trying. The goal? $1,000 in three months for my emergency savings. That’s $77 a week. Anything additional will go to fixing my car and then snowballing the debt I’ve accumulated.
- Part time Job – at just 4 hours/week you can gross $160 a month or more. Get a job with good benefits like Best Buy or Starbucks and you can score free coffee or Christmas discounts on electronics in addition to your paycheck.
- Sell extra kitchen gadgets. For me this was my coffee pot (I use my french press instead), the Juicer I hate using so I never use it, the obsolete bread machine I was given and too guilty to get rid of previously, and any extra plates and other serving ware (I have a tote of “party” dishes and then I keep 4 of everything in my cabinet). $40.
- Sell old baby stuff. I have a bassinet, old baby clothes, toys, an infant car seat cover and more. $100.
- Host a yardsale. For all of the other miscellaneous belongings I’ve gathered and no longer need/desire. $50.
- Swagbucks surveys, videos and other promos like coupons. I need to earn 35 points a day to net $10/month.
- Homemade dog treats. I did a trial run of this last month and easily profited $15/week.
- Sell Magic the Gathering Cards on Ebay. I did this a few years ago and made $2,000 in two months. It’s about time I gave it another swing. $25/month easy.
- Rent out my couch to a friend wanting to save some money. $100/month.
- Ibotta grocery rebates. Another money-maker I used to do that I can reliably make $10/month for groceries I was going to buy anyways.
- Personal Support Worker. I picked up a job as a caretaker at the local disability resources facility. I work 5 hours a week and I can bring my baby. $290/month.
- Babysitting for family and friends. $10/week.
- Rent out storage space in my house. $30/month.
- “Icecream Truck”. Buying bulk icecream and soda from the discount store, setting up with a cooler at the park on weekends and making easy cash. Plus I can bring the baby to the park to play. $25/week.
- Sell breast milk. I pump regularly and with proper handling and storage I could make some extra cash and help feed a hungry baby. $100/month.
- This blog. $15/month.
At the end of three months I should have $1,000 in my emergency savings, paid for all my car repairs and put an additional $555 against my debt (that will pay off my three smallest debts).
What side hustles have you tried to earn some extra cash?