When a disaster strikes, will you be ready? You don’t have to answer. While I hope you’d be able to give me a confident yes, what’s important right now is that you’re thinking about your state of preparedness. Have you thought about how you’ll feed your family? Have you thought about transportation? Communications? Medical care? There’s plenty you need to prepare for.
The problem is that most people aren’t prepared. FEMA reports that only 40% of American families rehearse for disasters, and only 39% have an emergency plan. If you’re not planning, you’re failing. One area you can’t afford to fail in is providing for your family, and that takes money. You can’t depend on a savings or checking account in a crisis; you don’t know how easy it will be to access an ATM. You need cold hard cash, and plenty of it.
I realize that you probably can’t afford to divert much of the money you’re already saving. It’s probably being saved for your monthly expenses and your children’s future. What you need are some effective strategies to help you generate additional funds that you can set aside for a major crisis. To help you get started, here are six strategies you can use to generate those funds.
Taking a part-time job has always been the go-to method for everyone who needs extra money. It makes sense. A part-time job offers you:
- A predictable pay-check
- Employee protections under the law
- An additional support network
- Easy access to low-skilled positions
It’s not hard to find part-time jobs and they’re not difficult to qualify for. They also allow you to extend your professional network and gain additional skills. The only drawback is that they often don’t pay much. Since your goal is to make extra money for a disaster fund, this method could take a long time.
While technically still a part-time job, driving for either of these companies is unique in that there are no set hours or caps on how much you can earn. All you need to get started is a valid driver’s license, a clean driving record, and a vehicle that passes the two services’ vehicle standards.
By doing so, you can make money at your own pace and only when it’s convenient for you. And there’s plenty of money to be made. The Business of Apps reported that there are over 41.8 million Uber users in the U.S. alone. The Street reports that Uber drivers make about $364 per month, while full-time drivers average about $36,000 a year. You won’t get rich anytime soon, but that’s a solid amount to contribute to a disaster fund.
In this day and age, your own online business is a more preferred method to make extra money for many reasons. In addition to setting your own hours and fees, you can also choose your preferred clients. You can also choose a niche that suits you best, including:
Take the skills you’ve learned and the certifications you have and use them to help others. You could do consulting in management/leadership, sales, SEO, administration, or any other number of areas.
By freelancing, you’re able to complete assignments for clients you choose at your own pace. You could specialize in writing, concept art, graphic design, web design, and many other areas.
Opening your own online shop allows you to make money while providing products that you have authority with. Set up arrangements with distributors and sell garden supplies, hardware tools, books, art supplies, or whatever niche you have authority in.
Starting an online business is also incredibly simple to do. You develop your business plan, register your business’ online domain, and you can start making money quickly. To enjoy professional independence while generating disaster funds, this is probably your best option.
If going online isn’t your thing, you can still make money while you capitalize on your skills. Offering private lessons will allow you to generate a profit while setting your own hours, focusing on each individual student, and allowing you to stay in the comfort of your own home.
Popular areas where people seek out private lessons include:
- Playing an instrument
- Drawing or painting
- Learning a language
While these are the most popular, any skill that you can market could serve you well. The key is that you need to be good at what you teach, charge a rate that balances your goal with your students’ income, and be able to retain your students for a long time.
Not only is it healthier for your family, but eating out less can save you a lot of money. Business Insider reports that buying instead of packing lunch costs around $2,000 per year on average. If you extended that to your breakfasts and dinners as well, you stand to save closer to $8,000 per year.
In addition, you need to be stockpiling food regardless. Part of providing for your family means having food available for long periods of time. You can use the funds you save from eating out to buy non-perishables and packaged foods that you can stockpile for emergencies.
One of the worst parts about disasters like fires, floods, and tornadoes is that they can destroy many of your possessions, not to mention your home. One way you can save funds and prevent against loss is by hosting a yard sale. With a yard sale, you can reduce the amount of clutter you have while making some money for yourself.
Yard sales can, however, waste a lot of time if you’re trying to sell items that don’t interest shoppers. Wisebread reported that the most popular items at yard sales include:
- Used Clothing (in good condition)
- Hardware tools
- Antique dishes and silverware
- Garden tools
By focusing on what sells, you can make the most of your time, and make a healthy profit with your sale.