Real Answers for Life’s Money Challenges
I am not where I want to be financially.
I am in the military, married and have two young kids, 4 and 6.
My wife is a stay-at-home mom and has no interest/desire of getting a job, part time or otherwise.
Ive recently started day trading to supplement my income, but as of yet, Im not profitable.
I do know it takes a lot of time and practice to be a successful day-trader.
I want to own rentals for income, but she doesnt want to deal with tenants.
I want to drive for Uber, but she doesnt want strangers in our car.
Its really difficult living on my income from one job and saving for our future.
Im not sure how to approach supplementing our income in some way.
K.
Dear K.,
You say youre not where you want to be financially.
Do you simply want more money, or do you actually know where you want to be financially?
Just as importantly, do you know where your wife wants to be?
This is glorified gambling that will only get you farther from where you want to be.
So where is that place?
Pretty much everyone wishes they made more money.
But few of us want to work 100 hours a week.
While your wife doesnt have a paying job, shes no doubt working hard as a stay-at-home mom.
For many parents, COVID-19 has only compounded the pressure.
When you suggest taking on extra work, youre also asking your wife to work longer.
Have you discussed how more money would secure a better future for your family?
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
Aside hustlewith a flexible schedule and no major upfront investment required seems like the ideal compromise.
Of the options youve laid out, I like Uber driver the best.
That doesnt mean you cant pursue something more lucrative down the line.
Starting small is whats important here.
check that youre truly listening to your wifes concerns.
What, specifically, worries her about having strangers in the car.
Drunks vomiting in the car?
Or what about if you used the car to drive for a delivery app instead?
Is there any side hustle she is OK with you taking on?
Hopefully this is temporary.
At least youre focused on reaching the same place together.
Robin Hartill is a certified financial planner and a senior editor at The Penny Hoarder.
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