How to Make a STEADY Income as a WAHM (Part TWO)
Last week I shared the story of a dear friend of mine (who is also a freelance writer) who had revealed to me she had just her main client; the one that was the source of the majority of her income. The loss was due to cut-backs, not the quality of her work and I know this because she’s a hella-good writer. Unfortunately this loss came on the heels of not only her husband’s job loss as well, but major medical bills for the couple’s young son. Faced with mounting bills and bleak prospects for work…she was panicked.
Sista, I have SO been there.
None of us have crystal balls or magical powers that allow us to see into the future and know what is to come. When my major “OH CRAP” moment came it was in the form of a non-paying client (my second biggest client), the unpredicted closing of another clients business and a death of yet another. My income was reduced in the snap of a finger by about 30%. And it hurt.
It’s one of those lessons you really only need to learn once. This major kick-in-the-financial-shorts taught me many things, but the main one was to always have multiple streams of income running in my financial arsenal. We adore these wonderful clients who make up a large part of our income, but life happens and these wonderful clients can slip away. From my experience it’s better to have a steady flow of money coming in from multiple places than have your income stream be as dry as the Sahara Desert in the blink of an eye.
So how can this be done? How can work at home moms keep a steady stream of dollars flowing into their business? I am offering up the below ideas based on the assumption that, as a WAHM, you are already working your biz in some way and making money from your chosen skillset. Last week I shared Part One of this series and today I am offering up more tried-and-true ideas are additional streams of income idea on how you can Make a STEADY Income as a WAHM (Part TWO!) Enjoy 🙂
Garage Sale Groups: Did you know that the average household has around $1500 worth of used, unwanted or outgrown items in it? Facebook has abundant garage sale groups and I can honestly say I have had great luck raising extra $$ selling my family’s outgrown clothing. Check out my article here about the “scoop” on successfully selling on Facebook’s Garage Sale Groups these sites.
Network: “Birds of a feather flock together” and the same applies for WAHMs. Join a networking group, lunch club or form your own. Some of the best opportunities that have come my way have come from a fellow writer in my own hometown. Most WAHMs are interested in helping others do well while they grow their own business. If I meet a quality, reputable WAHM who has a different skillset them me, I will absolutely let her know if I see job opportunities that will benefit her business as well. In the WAHM world, connections are the new currency.
Make your Own Products: This one is one I have yet to perfect…but I am still trying! From my uber-cheap PicMonkey Tutorial Guide to my full-blown How to Earn a Living as a Freelancer e-book, the sporadic income from creating my own products is always welcome.
Affiliates: I know for a fact there are people Killing.It. with affiliate income. I however, am not one. BUT, these occasional sales from affiliates like Your Modern Family’s Potty Train in a Weekend e-book or Leonie Dawson’s mind-blowingly cool Create Your Shining Year Workbook, do in fact bring in a couple of hundred extra dollars per year for me. I’ll take it! 🙂 NOTE: One of my top goals for the next 6 months is to expand my affiliate income.
Use Your Blog: Your blog is like value real estate; the more views/subscribers you have; the more desirable it is for advertisers to want to buy ad space. Sponsored posts are another valuable income-producing option if you have an establish blog. I have had great luck with a site called LinkVehicle. Using this secret weapon brings me around $600 extra bucka-roonies per year. Love.IT. Sign-up with LinkVehicle is quick and easy and they have other offerings beside sponsored posts as well.
When it comes to selling ad space, sometimes it’s tough to know how much to charge. I found this great formula for blog ad pricing template at Anyonita Nibbles that makes a ton of sense and I think could act as a solid guideline.
I am sure there are several more “multiple-stream-of-income” options I am forgetting. If you have found a great source of passive income not on this list, please share!
**Some of these links are affiliate links
P.S Don’t forget my Crazy-Good November Sale is still on! Go HERE to score some DEALS!
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