How Senior Caregivers Can Make Extra Income With a Side Gig
Caregiving for a senior family member can be a full-time job. Some caregivers are looking to the side gig industry to give them extra money while they care for a loved one. Here are some ways you can incorporate a lucrative side gig into your caregiving schedule.
How a Side Gig Can Benefit You
Having an extra source of income, such as a side gig, can be beneficial to your long-term financial goals. For caregivers who aren’t able to work full-time, a side gig can give them the power to pay down debt, invest for retirement, save to buy a home, and grow their wealth. A side gig also gives you time away from the hectic caregiving schedule and the stressors that come with that responsibility.
Pick Something That Works for Your Schedule
Senior caregivers have to be strategic when choosing a side gig. Most of all, the side job shouldn’t interfere with their caregiving schedule. Ideally, the side gig should be something home-based. Some side jobs you can do at home are freelance writing, data entry, live chat support, or answering phones.
Choose a Side Job With Low Startup Costs
You also need to be choosy about jobs that require any startup costs. If you’re working full-time as an unpaid senior caregiver, chances are you don’t have any money to invest in a second job. Look for opportunities that have low startup costs, such as selling crafts online, taking digital photos, or consulting.
Opt for Something Easy
It’s also better to pick a side opportunity that is relatively easy and low stress. Caring for an aging family member can be a thankless and lonely job. Your side gig should provide some satisfaction and give you a way to focus on self-care and forget about the challenges of senior caregiving.
Take Care of Financial Details and Taxes
After you’ve narrowed down some options for possible side gigs, you also need to take care of the financial details. You can choose to structure your side business as a sole proprietorship or an LLC. You also need to make sure you set aside money for your self-employment taxes so there aren’t expensive surprises at tax time.
Market Your Services
Successful side gig workers also need to maintain a consistent stream of assignments so they get paid regularly. To market yourself, use tools like Facebook or freelancing websites. With Facebook, you can create your own ads with the site’s easy ad-making software. Use this Facebook ads maker to customize the ad look with branding, fonts, logos, and colors. Post ads for your services on popular freelance sites to get new assignments.
Manage Your Work and Life Responsibilities
When most of your day is devoted to caring for a senior loved one, you have to work diligently to maintain a balanced schedule each day. Give yourself time to decompress and relax while also helping your loved one with daily tasks such as cleaning, eating, dressing, and socializing. Schedule your side gig duties throughout the week to give yourself more financial freedom and flexibility.
You can work on improving your financial situation even if you are a full-time senior caregiver. Find a lucrative side gig that you enjoy so you can make money and give yourself time to work on your individual goals.