Earning some extra cash and helping friends and family by watching their kids

Yesterday I posted some thoughts on how to stop living paycheck to paycheck.  Part of that included finding additional incomes including watching a friend’s kids part-time.  Here is how that could work:

Have any friends or relatives who work a lot and pay high childcare costs?

Let them know (be serious but low pressure) that you’re trying to increase your income and stop living paycheck to paycheck.

Tell them that if they or anyone they know would like to reduce some of their childcare costs, you’re willing to watch their kids on a part-time basis. Maybe they (or one of their friends) are not happy with their current situation and would love to pay you for a switch.  Or maybe one or two days of reduced childcare costs could really help them out.

But that’s not enough.  Put together a nice packet of info.  Include why someone should trust you with their kids.  Yes, do this even if you know the person well.  Your presentation can include a resume, experience and references.  It should include where you could watch the kids (your house, theirs or both).  And it should include your available days and times.

This “packet” is key.  Give your friends and family members copies of the packet to let them know you’re serious and can do the job (Incidentally, this entire exercise only works if you actually can do the job.)

I realize there is a push/pull between “low pressure” and handing them a “packet” of information (which is somewhat like a business plan).  This is a judgment call.  You know your friends better than me, obviously.  The point is to let them know that you’re serious and committed and, if they or someone they know wants a lower-cost solution, it’s you.

So don’t just sit there.  There are opportunities out there to make some money.  Watching kids is one of them.  (Note there may be laws in your area about watching kids, so do a quick search to make sure you won’t be breaking any laws.  It’s probably not a problem with one kid who is a friend’s but just make sure you’re not going to get in trouble.)

Have you done this or do you know someone who has?  What worked?  What didn’t?  How did you find kids to watch?  I imagine in this environment people are looking for lower-cost alternatives (like reducing their costs by even one day per week).  It really could be win, win.  Incidentally, here’s a pretty cool site about babysitting.  It’s geared towards teens, but that’s OK.  The info looks pretty good.

And, of course, finding an extra income doesn’t mean you can spend more.  So make sure you still put your credit card down and slowly step away from the mall!