Making Money Online: 5 Simple Ideas for Women
About the Author: Sarah Bull is a single mom of two, an entrepreneur, and a penny pincher. She is the creator of Economymom.com, where she shares tips and tricks about growing a home-based business. She hopes to inspire her readers, especially fellow moms, to take their earning destinies into their own hands using her career and money-making advice.
It seems like everyone has felt the impact of the current economic environment in one way or another, and women everywhere are struggling with financial stress. Professional women who have dedicated years to their careers are suddenly finding themselves staying home with their children and trying to balance job hunting with childcare, while stay-at-home moms are figuring out how to manage a full house on a tight budget.
In addition to learning penny-pinching methods from personal finance blogs like here at My Common Cents, many women want to boost their household’s income for additional security during this uncertain time. Here are a few ways women can create some wiggle room in their budgets and help their families enjoy financial security throughout the next few months.
How To Increase Your income in The Midst of an Economic Crisis
Start an Online Business
While opening a brick-and-mortar shop may be out of reach right now, opening an online business is a viable option! For instance, if you have a great idea for a unique new product, this could be the perfect opportunity to start an ecommerce shop. Running an ecommerce shop from your home allows you to watch your children during the day, and should you ever return to working full-time in your field, you can simply scale down operations or hire additional help. Plus, there are easy ways to integrate your shop with social media to help you reach more potential customers!
If you do choose to start a business, you’ll want to invest heavily in marketing, especially during the first few months after your launch. Spending on early marketing efforts can bring you substantial returns in the future! You’ll also want to register as an LLC early on. The process for this can vary by state – for example, if your business is based in Georgia, you would specifically register as an LLC in Georgia.
Remote Coaching
Whether you want to provide insight on your former industry, health and wellness, or positive life changes, remote coaching may be the right path for you. When you coach your clients online, you can fit them in around your family’s schedule. And should you land another 9-to-5 job, you can take on fewer clients to balance your workload. Seeing your clients change their lives can be very rewarding!
Find Freelance Clients
Stay-at-home moms and young professional women both enjoy the flexibility and freedom that freelance work allows. You can turn down projects based on your availability, and you can easily freelance on the side if you return to working full time. To find your first clients, Millo recommends checking out online job boards, utilizing social media for networking, and creating your own portfolio to show off examples of your best work.
Write an Ebook
Maybe you want to share the expertise you’ve gained after a few years in your field, or perhaps you’d like to publish your stories about parenthood. Whatever the story is that you have to tell, you may want to consider writing an ebook. Selling a digital product like an ebook allows you to bring in passive income! When you’re busy job hunting or spending time with your kids, you’ll be grateful for this income stream. Plus, you’ll get to express yourself creatively and connect with readers.
Create a Digital Course
Chances are, you’ve mastered a few skills that you could teach others. So why not make a tidy profit off of your talents? You may want to create an online course and share your knowledge remotely! LearnDash recommends focusing on user-centric educational content that allows your students to interact with you – even if you’re busy with domestic responsibilities or job interviews, you can still check in with them.
This unexpected recession has been unlike any other for a lot of Americans. Many women are wondering how they can keep their families afloat at a time when working outside of the home can present serious health risks to the whole family. But as we slowly recover from this pandemic, women will find that there are plenty of ways to generate income from home, even in these tough economic times.