Ways to Make Extra Money When You’re Divorced & In Debt

Posted by Delaine - May 25, 2011 - Career & Money, Career Growth & Change - No Comments

By I Am Divorced Not Dead’s recommended Certified Credit Counsellor, Suzanne Cramer.

When you divorce your income is often times cut in half and lifestyle changes must be made in order to survive financially-speaking. You’ve created a budget, you’re sticking to it, but sometimes your expenses outweigh your income and you start falling short each month.

At first it’s not so bad; a late phone bill, a few days behind in rent, or a week without a trip to the grocery store. But then, you realize the rent is a month behind, threats to turn off your electric are coming in the mail, and you have been using your credit cards more frequently instead of following your “cash” only rule.

What can you do to make up the difference? Your time is already stretched thin; you are working full-time, keeping house and maybe even parenting solo, where is that extra hour in the day?

I have good news and bad news… The bad news–I can’t get you that extra hour in your day.  The good news– I have some tips for ways to earn extra cash without sacrificing your most precious commodity: time.

Freelance Work

If you enjoy writing, designing websites, or keeping others organized you may consider offering up your talents to others with freelance work. Most freelance work can be done when it’s convenient for you. Just remember to treat it like your full-time job; complete work on time and be professional.

Some great places to find freelance work:

  • Ifreelance.com Projects range from graphic design and photography to bookkeeping and data entry.
  • Elance.com Elance offers access to qualified clients, a virtual workplace and guaranteed pay for great work.

Online Auctions

We all have things around the house we could, and probably should part with (Your ex’s golf clubs?) to reduce clutter and Ebay and Craigslist are excellent places to do just that and earn a little cash in the process. Here are a few tips to help you get started:

  • eBay. First, you will need to register for an eBay account if you don’t already have one. Then click on “Sell” to open a “Sell an Item” form. Then click “Start Selling.” You should enter at least three keywords to help people find your item and pick a category. Next, select the listing form; if you are new to eBay you can start with the simple listing. You can assign a title, add photos and write a description of the piece or “lot”. Finally decide the shipping price, starting bid and how you would like to be paid. Keep in mind eBay charges a 15 cents listing fee for each item.
  • Craigslist. Craigslist is a great local alternative, if you do not want to deal with shipping. As with eBay, you need to register with the site first. Then choose the state and then the city where you want to sell your item. Next, define the category by selecting what you want to sell and write a short description of the item, its condition and a photo of the item. Click “Continue” and you will go to a summary page where you can review, accept the site’s terms of use and the item lists. You will also need to go to your e-mail and confirm the posting to complete the process.

Child Care

Maybe you just can’t swing a few hours of uninterrupted time to do freelance work or organize and sell items online. Consider offering childcare to friends, neighbors or place an ad offering your services. Not only are you providing yourself the opportunity to earn extra dollars there is the potential for a play date for your child!

I don’t charge to watch other people’s children, but I do swap the time with neighbors and friends. It’s a win-win situation as we each benefit from some “time” to accomplish things that are difficult with kids in tow. Consider trying this to carve out time for freelance work or starting an online auction.

Rent out a Room or Get a Room-mate

Today, renting to a stranger especially when you live alone may not be the best idea. However, if you can find someone you know, maybe even another divorce’ you can benefit from extra income, as well as, an extra set of adult hands around the house.

Currently another divorced, single mom and I are tossing around the idea of renting a larger place we can live in; neither of us currently have the space. If we share a home we can each save $400 a month in rent, not to mention the share of utilities.

Living on one income is definitely a challenge and sometimes things are too tight for comfort. Knowing that there are ways to supplement your income can lift the burden of worry and empower you to take advantage of your skills and ingenuity.

What have you done to earn additional income when times were tough following your divorce?

Suzanne Cramer

Suzanne is a certified credit counselor and a Social Media Specialist for CareOne. Suzanne writes for Divorce, Debt and Finances and A Straight Talk on Debt. Follow Suzanne on Twitter @ ADivorcedMom where she shares her insights as a single-divorced mom with tips and tricks to keep your finances in check.