November 10, 2009, 5:00 am

Alternative Ways to Make an Extra Buck

by: The Financial Blogger    Category: Alternative Income
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Back in May, my wife stopped working full time so she could return to school part time and take care of our children. She is currently completing an online degree (sponsored by a real university 😉 ) so she can take care of everything while at home.

As I wrote yesterday, the company is picking up and we are making more and more money. However, since we want the company to grow at the same pace during these growth years, we are not taking much money out of it. And while I am not working full time anymore either, we see our debt in a holding pattern since she quit her job. While it is not the end of the world as we are under 30 and have a positive net worth, I would like to be in a better position to pay off my debt faster.

So we are stuck in the middle of another dilemma: continue to enjoy our quality of life, or reduce debt load and accept a modest lifestyle. So, we are trying to find alternative ways to make money without affecting our routine.

Working part time

Working part time seems to be a great idea. We found an ad in the newspaper to work at the library for 17 hours a week. Working for a city would probably be one of the best places to be a part time employee as they have nice working conditions and it pays above minimum wage.

We found a few other places where my wife could work part time:

– Coffee shop

– Work for a municipality

– Administrative work for a small office

– Cashier at a bank

Pros

The jobs we found were not too demanding and it was easy to get part time job. Most employers offering these positions will experience high turnover as many workers are students. So if they can find someone with experience, maturity that will stay more than a semester, they would be happy to hire this person.

Cons

Most part time jobs include evenings and weekend shifts. We are not too excited about this perspective as it would result in cutting into our “family time”.

The other major con is the salary. Most of these jobs are paid minimum wage so we are still waiting for the PowerBall.  ;-D

Housekeeping

Nothing incredibly original here, but housekeeping is pretty well paid and you don’t have to give half of your cash to the government ;-). We are living in an area where most of our neighbours use a housekeeping lady. While I don’t think it would be a great idea to clean our neighbours’ houses, it is obvious that it would be easy to find a similar neighbourhood in our city.

Pros

The pay is good (compared to minimum wage) and the schedule is perfect since you make your own. You select the house you want to clean and you don’t have a manager breathing down your neck.

Cons

The major problem I see with this job is that nobody really loves  housekeeping and it is not an easy job (more demanding than working in a library 😉 ). On top of that, I don’t know how you feel when you have cleaned 2 houses and you come home to do your own the same day.

The good news is that we are not in a hurry so we can take our time and pick the right solution. We have dropped the idea of a daycare at home since my wife wouldn’t be able to study at the same time.

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Comments

Often when people are hunting part-time jobs they are doing so with particular nights/times in mind. My other half is in a similar position (the minding kids part). But she’s finding it very hard to find part-time work that will suit schedules.

[…] The Financial Blogger: Alternative Ways to Make an Extra Buck […]

Another way to possibly save cash is to check out local companies that offer to combine utilities…for eg. there is a company where I live that offers cable TV and internet for under 70 bucks..not a bad combo if you ask me. I know its not part-time work, but money saved is money earned!