Develop Multiple Income Streams by Working From Home

There’s no harm in saying that while you love staying at home with the children all day, you do wish that you could have a bit more money to spend. It might be an event you need a new outfit for, an expensive holiday on the horizon, big birthdays coming up, or simply that you’d like a bit more cash in your pocket. Either way, there are certain things you can do to raise money, without having to go back to work and put the children into daycare or leave them with a childminder. The good news is that you don’t even have to do that much work for most of these ideas – you can use the assets you already have to earn you some money.

Rent out your spare room

If you’ve got a spare room or loft or garage conversion, one of the easiest ways to make money is by renting it out. Plenty of people in cities all over the UK do it, and it gives you the flexibility to make money without having to go to work. Depending on where you live, you could advertise it as a Monday to Friday let, giving you total privacy at weekends, or as a university let for students, which would mean you’ll have your home for school holidays, or just as a standard on-going let. Renting a room out might seem like a daunting idea, but as long as you have an open mind and a home big enough to house another person, you’ll be fine. Just remember to check any applicants very carefully, and make sure you get on with them. If you do go down this route, it’s a good idea to engage a lawyer or estate agent for help with the legal side, such as contracts, references and deposits.

Rent your parking space or garage

If you live in a busy city centre, you might be surprised by how much money you can make from renting out your car parking space. People who commute to work are often desperate for somewhere local, safe and easy to park, and would love the opportunity to guarantee themselves a space. Some cities are better than others for this: for example, Birmingham is the worst place for parking in the UK in terms of the risk of your car being damaged, so being able to book secure off-street parking within the city is very attractive to local commuters.

Sell your old belongings

You already know this, but when you have children, you end up accumulating so much stuff. Most of it used a few times then put into storage, and never spoken of again. The same goes for all of your belongings. Are you really going to squeeze back into the pair of hot pants you wore aged 16? Unlikely. So, if you’re after a bit of cash, start sorting through your belongings. You might find you’ve got some great pieces of clothes or homeware, and can sell them for quite a lot of money. Investigate different options on eBay, and see how much you can get for each piece. The photographing and listing takes a while, but the better the photos and the advert, the more likely you are to sell.

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