3 Tips to Help New Parents Save, Consolidate And Earn Money

At home with a baby, many new parents’ minds wander to ‘money’. How much time and energy you will be able to invest in improving your financial situation will depend greatly on your home support system. That’s why we have tried to provide a range of options suitable for new parents, involving minimal time, energy, and financial input, hoping one will fit with your schedule.

1. Optimize Utilities

With electricity, heating, and water considered necessities, we often don’t consider what options we have available when it comes to cutting costs in this area. Our minds first jump to ways to reduce water and electricity usage, but having a newborn baby around making a mess seems like no time to be cutting back on washing! 

The answer? Don’t. Don’t cut back, instead, optimize your usage. Upgrading your heater, opt for a colder wash cycle for non-essential items, bleed your radiators and change those filters! Poorly maintained and outdated utility items cost more money than they are worth. Find ways to upgrade, small costs now will save you money monthly.

To find out more ways to save money on heating, click here and find upgrades you can make in your home.

2. Get Into Real Estate

An extra, albeit tiny, extra person in the house often makes things feel a little cramped. And it’s common for parents to start to notice new needs for the home. While you might not be thinking of moving any time soon it can’t hurt to have your property valued and see what improvements are worth making in the meantime to increase the value of the property. 

Perhaps you have more space than you need and the heating cost (despite now being optimized, we hope!) is still too high? Maybe downsizing and running your home as a rental business can help you generate some money. Contact Goulart Legal real estate lawyer mississauga for further guidance on running a business.

3. Start An Online Job

We understand that finding time to start a new job while raising a new baby seems near impossible. And while that may be true in most cases, it doesn’t hurt to start planning for when you have more time available. 

Depending on your skillset an online job might seem absurd at the best of times. However, with stay-at-home parents generating income from parenting blogs, selling their crafts, there is a new generation of at-home available to new parents. Being your own boss and scheduling your own working hours around childcare.

Setting aside just 20 minutes every day to work toward your goal can be enough to get started.

More Tips

While finances are often in the top 3 concerns for new parents, we understand it is unlikely to be the only concern. Parenting is a stressful time and whatever you decide is the best way to tackle the upcoming months, it’s important to take on new tasks at your own pace. 
This website offers a more in depth list of top tips for new parents.