According to a recent report, one in four parents is “intensely” worried about money. With the cost of almost everything on the rise, many feel as though they are living paycheck to paycheck – an experience that is incredibly stressful.

As a result, you’re not alone if you’re looking for a way to improve your personal finances at this time. One way in which you can achieve this goal is by picking up a side hustle.

Photo by Brian Wangenheim on Unsplash

With that in mind, here are some top tips that you can use to run a successful side hustle as a full-time parent.

Find something you’re passionate about. 

There are thousands upon thousands of potential side hustles for you to consider – from writing blog articles to tutoring. However, in order to make this work, it’s important that you’re passionate about your side hustle. After all, this passion will quickly translate into business acumen and drive – two qualities that will push you toward success. This passion will also give you the fuel you need to get up and start working each morning! 

Have a strict working schedule. 

When running your own business, it’s important that you do not fall into the trap of working 24/7 in order to keep it afloat. While you may be more willing to put in the extra hours for your own venture than in previous jobs you’ve held, you still deserve some downtime. Putting together a schedule with set working hours will help you keep your priorities in check and maintain a good work-life balance. For example, ensuring you finish at 5 pm each evening means you can still make time for family meals.

Set up digital payments. 

Setting up a digital payment system for your business, such as one that allows you to accept credit cards over the phone or online, is another essential step when it comes to growing your side-hustle. After all, the easier it is for customers to pay you, the more your earning potential increases. Furthermore, these systems can make it a lot easier for you to manage your cash flow and keep all of your finances in order. 

Figure out your budget. 

Using budgeting software to figure out your monthly business budget can also help you to grow your side hustle. This is because you can use the data you gather in this document to assess how fiscally healthy your side hustle is. This can make you aware of minor financial problems, such as overspending on materials, before they become major issues that set your business back.  It also means you have all of the necessary documents to hand when tax season rolls around. 

Use social media to market your business. 

Thanks to the ever-growing popularity of social media, you don’t need to spend thousands on your marketing campaigns in order to grow your customer base. In fact, you can even manage your social accounts yourself. Focus on growing an authentic online presence by being polite yet friendly during your interactions with followers – as this is a great way to encourage people to buy something from your brand.