Earning Money as a Kid
Talk to parents you know with small kids about babysitting jobs. You likely know some adults with small kids. If they see you as trustworthy, they may have babysitting jobs for you. If you have experience working with younger kids, tell them. For instance, if you've taken care of your kid brother while your parents were out, that counts! To help ease their mind, consider getting certified in first aid and CPR.
Ask neighbors if they have odd jobs you can do for a little cash. Most people have little things they want done around their house that they don't want to do themselves. However, you have to be willing to do what they want! You might rake leaves, vacuum the house, clean out the gutters, mow the lawn, or help them clean out the garage, for instance. You could also wash their cars or clean the windows outside.
Become a dog walker or house sitter. You can help people out by walking their dogs when they don't have the time or energy. Set a standard rate per dog or outing, for instance. You can also offer to house sit for people when they're out of town, as many people don't want to put their animals in a kennel. When you house sit, you may need to water your neighbors' plants, bring in the mail, and feed their animals on a schedule. You might also walk their dogs.
Help your parents organize a yard sale. Create a spot in your home or garage for all the sale items to go. Ask each person in the family to go through their stuff to see what they can put in the sale. You can work together as a family on common rooms. Organize the sale items by type, such as books, kitchen, sports, and clothing, and then give items prices. Finally, pick a day for your sale! To price items, either put stickers on everything or set things up in sections that are priced the same. Don't go too high! Many things will sell under $10 USD, though if you have furniture or electronics, those can go higher. Advertise your sale by posting it on social media, Craigslist, and in local classifieds. Also, put up a poster in your yard on the day of the sale.
Make crafts or products to sell. If your family is crafty, you may find you can put those skills to good use. For instance, you could build furniture together to sell if you have those skills or sell baked goods over the internet. You could make seasonal items, like wreaths or decorations for various holidays. Put your heads together to come up with things you could make and sell together. Always check your local laws first! For instance, in some areas, you can sell baked goods from your home as long as you don't go over a certain dollar amount.
Sit with or assist lonely seniors. Many elderly people need a little extra help or just someone to stay with them during the day for a couple of hours. You can talk with them and help with small things like getting things they can't reach. You might also assist them with things like getting lunch together or making phone calls that need to be made. Ask your parents if they know anyone with elderly relatives who need a bit of help.
Set up a lemonade or baked good stand in your neighborhood. You've probably heard of doing a lemonade stand before, and you can make a little cash doing it! It's best if you set it up when other things are going on, such as a yard sale or activities in the neighborhood. Make your lemonade, and then sell it for so much a glass. You can also do baked goods as well. In the winter, try a hot cocoa stand! Check your local laws to make sure you aren't violating them by setting up a stand!
Offer technology-related services to people in your community. If you're like most kids these days, you grew up with technology and know how to use it. Other people that don't have those skills may be willing to pay you for helping them. You can do things like touch up photos, set up photo albums, add contact information to a person's phone, or set up a computer for someone. You could also build a website if you have those skills!
Set up a car wash with your parents. Get car soap, buckets, sponges, and hoses, and set up a little car wash in your street. Ask the whole family to help out with washing the cars; the more hands you have to help, the better! You can set a small fee for the car wash or ask people to give what they think it's worth. Put up signs and advertise on social media. Don't forget towels for drying cars off!
Grow produce and sell it at a local farmer's market. You don't need a lot of land to grow fruits and vegetables. You can do it in most urban backyards or even in a small greenhouse. Designate a space for a garden, and then decide what you want to grow. Check your local nurseries to see what grows well in your area. Things like tomatoes, cucumbers, beets, greens, and berries do well at farmer's markets. Consider growing unique varieties, as people often visit farmer's markets to find something a little different. In most areas, it's free or cheap to vend at the farmer's market. You just harvest your produce and set up at the market each week.
Saving Your Parents' Money While Living with Them
Use money-saving apps to get cash back. Some of these apps have coupons you can load, while others ask you to scan the receipts after you purchase something. Always ask your parents if you can scan the receipts, as they may not want them used that way. Typically, with these apps, you scan the receipt, and then you get points based on what you bought. You can redeem those points for cash or gift cards. Some to try include Ibotta, Receipt Hog, ReceiptPal, and Fetch Rewards.
Help your parents save at stores with coupons. You can find coupons in mailers and online to help your parents save money at the store. It's important to focus on things you already buy, as buying something extra with a coupon doesn't really save you money. Some grocery store apps also have coupons you can use in-store. Another way to save money at the grocery store is to always check the weekly ads to see what's on sale. Also, always try to find the cheapest brand, which is usually the generic kind.
Get only the things you need. You've probably heard discussions about wants versus needs. When you need something, you have to have it to live, such as food, clothing, and shelter. School supplies and the like also are generally classified as needs. However, wants are extras that you'd like to have but can live without. When you are buying something, consider whether you really need it. Keep in mind that some wants can look like needs. For instance, you may need to get a new pair of shoes, but you don't need to get the most expensive brand-name shoes, even though you may want them. Stick with a less-expensive pair that will cover your needs.
Pay attention to the electricity you use to lower the bill. Most of the things you use in your home take electricity, which costs your parents money. Try things like turning off lights and other electronics when you leave a room, for instance, and avoid turning the air conditioner down or the heat up. Also, make sure to pull your clothes out of the dryer when they're dry, instead of letting the dryer run on the "keep warm" setting that helps avoid wrinkles.
Buy generic personal products and use them responsibly. Often, the generic is just as good as the name brand at a much cheaper cost. Plus, pay attention to how much you're using. You only need a quarter-sized amount of shampoo when washing your hair, for instance, or a small squirt of hand soap when washing your hands. When doing dishes, use a small squirt for a whole sink of water.
Reduce your water usage. While the water bill usually isn't the highest bill in the house, your water usage also contributes to the electricity bill when using hot water. Help out by taking cooler, shorter showers instead of baths and washing your clothes in cold water instead of hot. When doing dishes, fill up 1 side of the sink with warm water and soap and the other side with clean water. Don't just let the water run while you're doing dishes.
Assisting Your Parents as an Adult
Offer financial assistance if you can but discuss the details first. When money is involved, everyone needs to be on the same page. While it can be embarrassing, you all need to discuss what kind of arrangement you'll have as far as money goes. For instance, talk about issues like whether the money is a loan, how often you can provide help, and what kinds of things they need money for. For instance, you might say, "I know you all are in a tight spot financially, and I'd like to do what I can to help. I can't offer much, and I'd really like to see it mostly go to necessities. I wouldn't see this as a loan, however. You wouldn't need to pay me back." Always consider your own financial stability and don't give money you can't afford to give. Also, ask your siblings to contribute if they're able.
Show your parents freelancing jobs they could do from home. Most people don't want to work in their retirement, but if your parents are having financial issues, they may need to. However, there's no need to go out in the world; they can do many jobs from their home on their own schedule. Give them some suggestions related to the fields they worked in and help them set up a computer if you need to. Typically, they can find freelancing jobs on freelancing websites, where jobs are listed by profession. For instance, they could write, edit, translate, do graphic design, tutor, help with grants, or provide bookkeeping services.
Help your parents sell off valuables they don't need anymore. Lots of people have things laying around their home that could be sold off to make extra cash. While it's not a long-term solution, it can help bridge the gap when cash is short. For instance, things like china, old comic books, antique furniture, old kids' toys, depression glass, and gold jewelry can all make a little cash. Take pictures and list them on local websites for selling items, such as Craigslist or letgo, or try them on auction sites online, such as eBay. You can also try vintage items or craft supplies on Etsy. This can actually turn into consistent cash if your parents have the time to go to garage sales and thrift stores. Many items, such as designer clothing and bags and books, can be bought cheaply and sold for more online.
Encourage your parents to rent out a room or their car. Many websites let people rent out part of their home for vacationers, and it works especially well if your parents are in a high-demand area. Other websites offer similar services for cars, so if they have a car they can spare part of the time, they can rent it out to people who need it for a short period. When renting out a space, it's best to at least have a designated bedroom and preferably a designated bathroom for guests. A small guest house is even better, but any private area will go for more on these websites. For houses, try the sites AirBnB or Homeaway. For cars, try Turo or getaround.
Discuss a different living situation to help ease their financial burden. Most people want to stay in their homes as they age, which is understandable. However, for some people, that becomes unfeasible after retirement, as they can't afford the place they live. Sit down with your parents and have an honest discussion about what other options might be more affordable and how you can help them get there. For instance, they may want to downsize to a smaller home or move to an apartment. Alternatively, you may decide that you want to buy a house together with your parents. If you're already supporting them financially, it can make sense to merge into 1 home. A final option is a reverse mortgage. A reverse mortgage is essentially a loan based on the equity of a person's house. While these loans aren't ideal, they can provide income for older couples who are strapped for cash.
Ask if bankruptcy is an option for your parents. No one wants to have that conversation with their parents, but if you aren't in a place to help them and they can't support their debt, it may be the best option. Talk to a bankruptcy lawyer first to see what the options are, then present it to your parents. You might say, "I know you two have been struggling with your debt, and I wish I could help. I'm just not in a place financially to do so. However, I'm wondering if maybe declaring bankruptcy would help. I know it's a hard thing to think about it, but it may make your life easier. I'm just worried about you, and I want to help."
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