Financial, Legal, & Realty

Finance Solutions Shares Money Making Tips While on Maternity Leave

You don't have to suffer from decreased income when on maternity leave

Starting a family and having children should be one of the most exciting times of a woman’s life, however, many women must face the difficult decision of raising their own children or putting them in daycare for 8 or more hours a day. No new mother wants to put their child in daycare, however, this is commonplace in America.

Nearly 273,000 women are on maternity leave during any given month in the United States. Most women choose to stay home for a few weeks after their baby is born, but then must return to work so that they do not miss out on an average salary loss of $16,000 during their leave.

While many women would love to stay home and raise their children for a year or so until they are old enough to walk and talk, this is not a reality for most women. Most women only take off an average of 10.3 weeks maternity leave. If more women understood that they can actually make money while working at home they may be more inclined to take more time off work so that they could stay home with their children. Here are some ways that women could make money at home while raising their children.

#1) Freelance Writing

Freelance writing is actually more popular than most people think. Many people, from college students, stay at home mothers, and even people looking for a side job choose to become freelance writers. The main benefits of freelance writing are that you can work your own hours, work from home, write as much or as little as you want, and you can choose to write about the things that interest you. There are endless avenues to freelance writing so if you are serious about getting to work from home this may be one of your best options. All you need to start this job is a laptop and internet, which almost everyone has. You can choose to work through a company that can supply you with work or you may even try your hand at submitting your own work to newspapers.

#2) Cashback for Shopping

While this may not help you grow your bank significantly, earning cashback while you shop is a great way to help pay for a few things, like diapers. If you could make a few extra dollars a week it could help you budget for things that you may want to do but do not do because of the financial stress you and your family may be under. Having a new child in the home can be a challenge, especially financially, so if you are able to earn money back for buying things that you would have already bought you should.

#3) Solve A Problem and Sell It

If you are looking to stay home on maternity leave for an extended period of time you may want to look into ways to make a lot more money. If you know that you do not want to return to work you may decide to start your own business. Before jumping right into a business make sure you find a real problem and create a business that can fix your problem. According to recent statistics, 20 percent of new businesses fail within their first year. This can be a scary number to hear but if you are dedicated to your business and will do anything to stay home to raise your children this may be the best avenue for your and your family’s future.

#4) Babysit Neighbors and Friends

If you are planning to stay home for an extended amount of time, usually about a year or more, you may start asking neighbors and friends if they need help watching their children. You can raise your child in the comfort of your own home and bring in some other children to babysit during the day. This can help you earn extra money and can help save your neighbors and friends’ money since you will likely charge them less than a daycare would. It may be awkward to ask them to babysit their children so try to bring it up in a casual way to see what their reaction is. You need to know how long you are committed to staying home before you ask people to pull their children out of daycare to stay with you.

#5) Sell Unwanted Things

Another great way to help you make money is to see the things around your home that you do not want anymore. You can find old clothing, shoes, furniture, books, DVDs, kitchen items, and anything else you may have. If the weather is nice you can have a yard sale to sell these items, but if the weather is poor you may need to list them for sale on a website. As your child grows you will have a large inventory of things to sell since they grow out of their clothes very rapidly.

#6) Couponing

Many people have seen the show about men and women who save a lot of money clipping coupons. Clipping coupons is one major way to help you recoup the losses of your maternity leave salary. You can save you and your family a great deal of money, but you can also use it to make money. If you find unbeatable sales you could buy a large supply of the items and then sell them the next time you and your family had a yard sale. While you may only make a dollar or so off each item, every dollar counts.

Choosing to stay at home and raise your child should be an option that every mother gets to have. This, however, is not an option for some because of the financial concerns and stressors that it can put on a family. If you have been saving and are looking for extra ways to help make money while you stay home on maternity leave here are some places to help you get started.

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Adrian Rubin

Adrian Rubin is a freelancer, creative arts director for various marketing and advertising companies in the New York area. Adrian Rubin specializes in making memorable campaigns. You can learn more about his services here: AdrianRubin.net

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