How to Save for a Rainy Day Fund

Emergency Cash Sources Every Mom Should Know About

Everyone needs a rainy day fund. Don't get me wrong, being a full-time mom is great, but raising children is very expensive. Especially, when you're a single mother. Whether you've raised many children from birth to adulthood or you're taking care of your first child, there are always extra expenses that don't fit into your weekly budget. With the price of childcare rising, along with all of the other unexpected expenses you'll experience as a parent, you need to know about available emergency cash sources. Here are some tips on how to save for a rainy day fund and ensure that you have access to extra money for your family should the need ever arise... And, you know it will.

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Credit Cards and Mattress Money 

If you try to save on every purchase that you make, you might be able to store away a little extra money for a rainy day fund. For example, utilizing coupons is a great way to see your weekly grocery bill go down. With the money that you don’t spend on household expenditures, you can start your own ‘mattress money’ fund. Of course, you don’t actually need to keep your savings under the mattress, but keeping tangible funds somewhere in your home will come in handy during an emergency. Alternatively, using a credit card when you are in a pickle isn’t a bad idea so long as it is for an absolute emergency. In fact, having a couple of credit cards with large available balances is great for when you have an unexpected, last minute child related expense.

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Short-Term Personal Loans

A lot of people still think that the only types of personal loans available are the ones that are offered by local banks. The truth of the matter is that there are all sorts of lenders who regularly make short term personal loans. At loanpig.co.uk, for example, small to mid-sized personal loans are often approved online in minutes. So, if you have a big expense that you only have a few days to come up with the money to pay, a short-term loan can save the day. These types of loans also come with manageable repayment terms, so you don’t have to worry about your debt skyrocketing. While you may not want to take out a short-term personal loan to pay for a child’s birthday party, it's certainly reasonable to take advantage of a small loan to help deal with emergencies or to help bridge the financial gap between pay periods.

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Charities and Fundraising

There isn’t anything wrong with accepting or even asking for a little financial help whether you're a busy mom or anyone else. There are charities that help moms furnish their nurseries, aid them in rebuilding after tragedies, and just give a hand where needed. A friend might start a fundraiser for a working mom who has always been frugal and yet still is barely managing to make ends meet. There are charities that help moms get toys and clothes for their children during the winter holiday season as well as fundraising efforts that have given working class families the ability to go on amazing international holidays. Find what funds might be available to your family for emergencies and more. 

It is often very difficult for moms to think clearly when facing a financial emergency. You may go whizzing about looking for ways to pay an expense when the solution is right below your nose. Take a breath, relax, and think back to all of the ways you have prepared yourself and your family for the future when seeking a solution. These days, there are all kinds of ways to earn money online. Got stuff to sell? Give Facebook Marketplace a try!

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Ways to Make Extra Money at Home

Need an Online Side Job?

Whether you're self-employed, under-employed, or just always looking for more cash, there are many legitimate ways to make money at home online. As a self-employed entrepreneur, I've tried many different side gigs. I've always got a bunch of irons in the fire trying to find one that is the best return on my time invested. Some things pay well, but are tedious and stressful. When that happens, it causes a shift in my mood. I'd rather do something that took less time and caused less stress. I mean who wouldn't? If you're looking for ways to make extra money at home read on for a list of things you can do as a side job online.

This post contains Amazon and other Affiliate links.

Need a side gig?

Ways to Make Money Online

When working online, you never have to leave your home. Let's get real, you never even have to leave your bed! Unfortunately, you do have to have some marketable online skills. However, there are a range of activities for the amateur to the professional online entrepreneur. So, if you're hoping to become self-employed or to add a little extra cash to your monthly bottom line, it might be worth it to brush up on some English grammar lessons, Microsoft skills, and understand how social media is beneficial to your bank account.

• If you're a teacher of any sort, including a homeschooling teacher/parent, you can make money by selling your printable lessons online. #worksheets People don't have time to create these and they appreciate the work being done for them by a professional.  Some great sites to start selling your teacher resources are TeacherSherpa.com and TeachersPayTeachers.com  Each website is reputable, and as an added bonus, you can sell the same items on each site. They work sightly differently, so go for it and see which one works best for you! If you're a serial entrepreneur like me, you'll continue to do both.

• Do you have some random skill? Something you're an expert at and can do quite well in a very short amount of time? Maybe you're a freelance writer, a musician who does jingles, you were born with a great voice for voice overs, you're an amazing cartoonist, skilled at graphic design, or perhaps you can write a kick*** cover letter and resume. Whatever your marketable skill, you can promote it on fiverr.com. Just offer something for $5 and you can add additional fees or add-on work. I haven't sold anything over there, but I have used the service many, many times!

• My first venture into the making money online came via UpWork. Back in the day, it was known as Elance. With UpWork, you can charge whatever you want. The more skilled you are, the more you can make. I started out low-balling bids on jobs until I gained confidence in a particular subject. Now, I work as a consultant and bid a much higher wage.  I work as a freelance writer, SEO specialist, and social media marketer. However, you can find jobs for draftsmen, architects, interior designers, product testers, reviewers, and virtual assistants. Sometimes, you can even find work offline.

More ways to make money online.

• If you're a blogger or anyone with a large online following, you can do a search for sponsored social media posts. You've heard of celebrities getting paid to post on their Twitter and Instagram? You can do it too! This is my favorite side gig. It only takes a few minutes to complete and the pay out can be just as good as a sponsored blog post. You decided what pay you want. Your stats, engagement, and follower count play into it. Anyone can do it and earn $1 to over $1000 for a short post.

Learn how to get sponsored posts on Instagram.

• If you are still uncertain about what type of job you would love to do at home or what profession is the most suitable for you, it's important to keep an eye on new trends and analyze different open positions and their requirements. In this case, you can use the best job search websites. For example, you can have a look at the work-from-home vacancies listed on Jooble. Filters such as location, date posting, salary, work experience, and work employment will help you speed up your search and find the most appropriate vacant post in the long run.

• Write a how to manual, a comic book, or a full-fledged novel! Using Amazon's Kindle Direct Publishing tools, you can create book covers, upload content, and sell your book on Amazon. I've done this several times now. The key is quality. This is a pretty hefty time commitment. However, once you've done one book and created a template, it becomes easier. This is not for the faint of heart, the easily stressed, or the perfectionist. If you're any of those things, do the book, but pay someone to set it up for you. Here's one of my best selling Amazon books: Circle Time Activities. Tip: I also have versions of this book available on TeacherSherpa and TeachersPayTeachers.

Now, once you've created your own ways to make money online, you'll need to promote your business. You can do this yourself through boosting Facebook posts, running ads in Google AdWords, Pinterest, Twitter, or Instagram,  or enlisting a digital marketer to help. Pick me, pick me!

Still looking for more ways to make extra money online? Check out this article from the PennyHoarder.

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Cash Tasks, Earn Money from Inbox Dollars

Looking for a new way to earn a little extra cash?  Try Cash Tasks from InboxDollars.  Everyday InboxDollars will list a collection of available tasks that can be completed for a cash reward.  The tasks range from identifying the content of a photograph, to translating phrases, to completing descriptions for products or services.  Each task is presented with the number of opportunities to complete it and the earnings a member will be credited for completing the task.  To earn the cash reward, you must complete the task requirements and accomplish the entire task properly. Once you have completed all the requirements for that task, they will notify you.  Your account is credited the same day the task is completed.  If you have some spare time each day it is a good way to earn a little extra for the holidays.


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