5 Money-Making Ideas for Stay-at-Home Parents

Being a parent isn’t easy, given the many responsibilities you have to juggle. On the one hand, you have to work hard and earn your livelihood so that you, your partner, and your children always have food on the table and a roof above your heads. On the other hand, knowing how valuable your time is to your children, it’s natural to want to spend as much of it as possible looking after their welfare and sharing important milestones together. 

The good thing about today’s parenting landscape is that there are more opportunities to be flexible. Parents don’t always need to report to physical offices to cultivate full-time careers or to make some extra money for a rainy day. Thanks to work-from-home (WFH) arrangements, remote work options, and freelancing and online business opportunities, it’s now possible to earn an extra buck without straying too far from one’s home and one’s family. 

There are lots of options that Filipino parents can explore in terms of full-time or part-time money-making opportunities. Here are a few that you and your partner may want to consider while you’re also busy raising kids at home: 

Invest in New Financial Instruments

If you’ve got money to spare—and if your priority is to build wealth for you and your family as opposed to making a quick buck—it’s a good idea to start investing. Allocate a certain portion of your income or savings towards a reliable investment. Some of your options include a unit investment trust fund or UITF, a treasury bond from the Philippine government, or a mutual fund. 

Investments usually prove appealing to parents because they don’t require as much hands-on work as stocks and because they can be entrusted to competent financial managers. But for every new financial instrument you explore, don’t forget to do your homework. Research on its viability, how much and how often you should invest to achieve your desired financial outcome, and how to distinguish between legitimate investment opportunities and scams. 

Open an Online Business

For parents who have the time and capital resources to do so, it’s also an option to sell items online. Many Filipino parents have found great success as wholesalers, distributors, or producers of popular items like baked goods, homemade accessories, and personalized gifts. 

Now may be the right time to tap into your creative and entrepreneurial talents. All you need is a business plan, some items to start with, and an account on an e-commerce or social media platform. You won’t need to leave your home to open a virtual storefront, which means that you can stay near your partner and kids. 

Advertise Your Skills or Offer Consultancy Services

If you don’t have physical products to sell, you can market your skills as a professional instead and offer your services to friends, family members, neighbors, or anyone else who’s in need of them. Some examples of profitable skills that can easily be done from home are copywriting, graphic design, web development, translation, transcription, and data entry. 

You can also build your skills in any of these fields while you’re at home, then start looking for compensation when you’re confident in your abilities. Alternatively, if you already have a well-established career in your field, you can offer consultancy services and accept online appointments, or you can teach online classes with a limited number of students. Take advantage of your ability to earn money from your special talents from the comfort of your home office. 

Explore Peer-to-Peer (P2P) Lending 

Another viable option that you and your partner can tap into is peer-to-peer or P2P lending. This involves lending money to individual borrowers through a P2P lending platform and earning on the interest that’s paid back to you. 

P2P lending may be a convenient way to earn extra on the cash you already have because you can do it online or through an app. In addition, you and your spouse can agree on how much money you’re willing to lend to others. If you choose this route, remember to exercise caution about whose debt you accept and what risks you may encounter while lending money, such as your borrower not paying you back on time. 

Start a Blog

Lastly, for parents who love to write or have an advocacy to carry forward, blogging will prove to be a great outlet. Over time, you can also earn money from blogging through ad programs or affiliate marketing. You can also sell physical products or digital products like e-books to the people who end up being avid readers of your blog. 

Compared to the rest of the options on this list, blogging is a “slow starter” for making money. But if you get to know your niche and captivate the interest of a broad audience, blogging will end up rewarding you emotionally as well as financially. It won’t hurt for you to try blogging for the chance to earn extra money for your family, as well as write passionately about topics that are close to your heart. 

With options like these, you can earn more money for your household and achieve a healthy, happy family life at the same time. Which of these money-making ideas are you most excited to try?  

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