When the little bundle of joy arrives, let alone more of them, parents need to get into their clever spending and earning mode, which can often become frustrating if there’s no strategy to follow.
Fortunately, the modern generations of first-time parents can use all the perks of the era, and as such, you can make the most of your efforts to earn extra cash and boost your family economy with a more reliable income that will save you time and let you stay sane!
Become a budget chess-master!
You know what they say about exceptional chess players – they always think a few steps ahead. Before you delve into all the ways you can bring in more money, you should rely on what you have at this very moment. So pull up a chair, prep your favourite healthy munchies (I vote carrot sticks, apples and almonds), open up your trusty Money Smart budget planner and put on your smart hat!
Cover all of your weekly costs, but don’t let the minor expenses slip through your clever cracks, account for every single purchase you make, including those moments of weakness for online shopping, when everything is half off. Once you have a clear picture of your expenses versus earning situation, keep track of your actual behavior! Compare and contrast as the weeks go by, and see if you can cut costs somewhere.
The perks of freebies
Many new parents are too busy worrying about the baby’s sleeping schedule and the breastfeeding conundrum to find out about the best freebies resources they could possibly get! From pregnancy sample bags, to nappies, ointments, vouchers and coupons, Aussie Kids Freebies is an excellent resource, among many others, that offer this wonderful service to new parents.
This way, you can test the products if they fit your little one, find out about more affordable options, and of course, provide your baby with all they need, and much more, for much less!
Clothes and other baby items are not the only things you can save money on, look into your utilities to help you save, for example, there are a lot of ways to watch TV for free.
Find flexi jobs
Most parents will have an arrangement where one of them works and provides for the family, while the other one is a stay-at-home caregiver. Still, in some of your moments when the baby sleeps and you’d like to contribute, you can find various jobs online that let you create your own schedule and earn a solid amount of extra cash.
For pet lovers, there are professional pet-sitting platforms to choose from where you can care for other’s four-legged companions while they’re away, have fun, and still make some money. There are also numerous online platforms such as Upwork, where you can be a freelance writer, a graphic designer, a developer, and find a whole range of project-based work to fit your schedule.
Swaps and sales
Unless you’re a long-time minimalist at heart, you probably have a bunch of old clothes, shoes, kitchen utensils, jewellery and other gadgets you no longer use. Likewise, there are parents out there with the same “problem”, and you can easily use this situation to your advantage by looking for suitable sales and swaps!
First of all, you can organize a garage sale or simply post your items online on sites such as eBay, and you can craft a public social media post to ask for your family, friends and followers if they have any spare/used/unneeded baby items such as cribs, strollers or slings you could proudly inherit with your newest family member.
As overwhelming as parenting can get, you need to stay in the loop when it comes to the latest changes and amendments in the legal rights of parents, the perks of maternal/paternal leave and all the insurances you need to stay covered while you care for you newborn.
Direct all of your questions to the Department of Human Services to learn what they can do to help you with the most challenging aspects of parenthood, to learn about tax benefits and numerous community support services they can offer to ease you into your new role.