Working single mums have basically no free time. Fact. Between working a full-time career and being a good parent, not to mention being the only parent, we barely have time to eat and sleep, let alone have a hobby or a side hustle. This being said, financial struggles are very real, especially during the COVID-19 pandemic. Everyone could do with a little more income; so many families, big and small, are struggling. But how can us single mums get a look in at the side hustle, without stretching our already-thinly-spread schedule?
There are ways you can make your money work for itself. This sounds too-good-to-be true and potentially illegal, but in reality, it is neither of those things. When having a side-hustle which takes valuable time away from your mothering and primary career is not an option, one great money-maker remains: investing.
What is investing?
Of course, the word investment is something everyone knows: making an investment means spending money in order to get money, time or a different positive outcome. You know, the word we use to justify buying a costly pair of designer shoes – “It’s an investment, I’ll wear them all the time, and they look professional!” That word. But in the financial world, investing is so much more.
Investing can take many forms. It can be buying a small, affordable property and expanding or renovating it, in order to let it out or sell it for a higher price. It can be investing wisely in stocks; buying shares in a company; or even starting a small business of your own. Some forms of investment require a lot of time, effort and patience, such as restoring a property or starting a business. If you’ve got no free time at all, those options probably aren’t for you.
However, with careful research, buying shares, investing in stocks and trading online can be very fruitful, with very little time spent each day. Of course, these types of investments hold more significant risks than long term ones. As you will already know, the stock market fluctuates, cryptocurrency goes up and down in value, and trading sometimes doesn’t pay off. That is why ensuring you use a reputable site such as Forex is essential; you do not want to fall prey to a scam.
Isn’t It Too Risky?
This being said, trading and stock investments are not as drastically risky as they may seem. Particularly with smaller investments, you are risking only the money you put on the table, no more. In addition, with the right research and a little practice, you can begin making strategic investments which are much more likely to yield positive results. And the best thing? You can do all this from your computer, without leaving your home, and you don’t have to hustle at all, leaving you more time to spend with your children and on your career.
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