How Can I Quickly Earn Money as a Single Mom?: Tips for Supporting My 6-Year-Old Child

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Dear Quentin,

I've got a financial query from you. As a single mother of a 6-year-old child, what options could assist me in getting some quick cash? I'm looking for opportunities primarily online since job searches like the ones on Indeed show hourly wages as low as $13. Could you recommend any suitable courses for my situation? Really, I'm quite flexible about this part too. While returning to college appeals to me, starting my own venture does sound exciting as well. At present, though, these choices leave me feeling rather undecided.

Looking for Solutions

Related: ‘Would this ruin her life — or transform it?’ My daughter is 25. Should I create a $5 million trust so she can give up her job and see the world?

Dear Looking,

If there were a simple solution to your query, we would all have retired well before reaching 40 years of age.

It’s hard to give you a one-size-fits-all solution for courses, given that you don’t reveal your skill set or your interests. But whatever long-term goals you have should take both of those factors into account. For instance, I have a friend who put himself through college walking dogs. Today, he is finishing off his doctorate. It may seem like a long way off from where you are now, but when he started his dog-walking business to pay his college bills and rent, he had almost nothing. As his studies progressed — he is a psychotherapist — he was able to do more on-the-job training in addition to dog walking.

I've never really been drawn to quick riches schemes or fast cash programs. Typically, these lure individuals who desperately seek financial gain right into the clutches of internet scams or fraudsters. There’s this notorious scheme I remember where they distributed flyers promising recipients easy ways to earn $100 within an hour. To access such opportunities, all one needed to do was shell out $10 along with providing a self-addressed stamped envelope. The response, reminiscent of a twisty finale from "The Twilight Zone," was straightforward: instruct others to mail you $10 so they could learn about making $100 per hour through your flyer.

Back to your question about making a quick buck: It’s a crapshoot. It may not be what you see yourself doing and it’s not always easy or pretty, but the gig economy is there for people who need to make extra cash, especially if a standard 9-to-5 or retail schedule is difficult for you to maintain given that you are a single mom. If you have parents or family members who can help you with babysitting — and it may be worth organizing a community babysitting group in your neighborhood so other mothers in your position can take time off — you could try anything from tutoring and driving an Uber or Lyft to performing tasks through apps like TaskRabbit or Upshift.

Leveraging existing skills

I presented your query to Shinobu Hindert, a certified financial advisor and the creator of Empowered Planning. "Should you be seeking an expedient method to earn money online, several avenues are available; however, each comes with distinct hurdles," she remarks. She also endorses delving into the gig sector due to its adaptability and extensive array of potential tasks. "Look into sites such as Upwork or Fiverr, which will allow you to capitalize on abilities you possess. Be it content creation, administrative support, or managing social media accounts, you can develop a customer roster according to your schedule."

If you're undecided about returning to school or launching a venture, each path could contribute to your overall progress," she says. "Begin by acquiring a new ability that complements either choice. You might enroll in an online class focused on entrepreneurship and simultaneously develop your own enterprise. Platforms such as Udemy and Coursera offer excellent opportunities for gaining practical business knowledge. As you hone these abilities, seek employment connected to the business you aspire to run independently, allowing you to gain valuable hands-on experience.

Considering your situation of being at a crossroads, I recommend choosing the path that offers greater long-term benefits, economically and mentally. In essence, opt for studying something that genuinely interests you. As I informed this reader, Who was unsure about which professional degree would allow him to earn a six-figure salary right from the start of his career might find motivation daily by focusing on doing something they enjoy and excel at—or ideally, both. This approach can keep them energized not only for their first day but also every subsequent day afterward.

The key to being successful is finding just one thing you excel at.

Related: 'I have no desire to invest additional funds in the stock market': Being debt-free, retired, and not capitalizing on the 'Trump bump.' What should I do with $400,000?

You can send your financial and ethical queries to The Moneyist via email at qfottrell@GudangMovies21, and follow Quentin Fottrell on X, which was previously called Twitter. Twitter.

The Moneyist regretfully notes that he is unable to respond to individual inquiries.

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