Passive Income?

[PennEd]

That does sound safer and it is true, you never know these days who is going to snap. Just getting groceries is a risk. I pray for my family and friends all the time for protection.

Quick story.

I was at BJs club a couple weeks ago, just picking up a few items, and decided to turn on the Doordash app.

Right away an order dinged and it was $13 for 4 miles. Said you needed a big car because of a lot of items. I initially wasn’t going to do it because I thought I was going to have to shop for all the stuff. But it said No shopping because BJs already had the order on a cart.

It was on my way home, so I accepted it.

A lot of water and soda cases, and a bunch of other stuff.

Instructions on the app were to drop off in garage. So I got there, VERY nice house, backed in, garage was open, and it took about 10 minutes to unload.

When I took the picture and hit “Done”, she had changed the amount from $13 to $50!!

All while just driving home. That is not very usual , but you can do ok with the gig economy stuff.

 

[ThereRoseaLamb]

Quick story.

I was at BJs club a couple weeks ago, just picking up a few items, and decided to turn on the Doordash app.

Right away an order dinged and it was $13 for 4 miles. Said you needed a big car because of a lot of items. I initially wasn’t going to do it because I thought I was going to have to shop for all the stuff. But it said No shopping because BJs already had the order on a cart.

It was on my way home, so I accepted it.

A lot of water and soda cases, and a bunch of other stuff.

Instructions on the app were to drop off in garage. So I got there, VERY nice house, backed in, garage was open, and it took about 10 minutes to unload.

When I took the picture and hit “Done”, she had changed the amount from $13 to $50!!

All while just driving home. That is not very usual , but you can do ok with the gig economy stuff.

Humm, my father has retired and is looking for something to do. He's worked for Fed Ex so this wouldn't be new to him. I should look into it for him.

 

[arthurfleminger]

Does anyone on here make a passive income or maybe you do trading/stocks? Would you be willing to provide some insight for it?

Dave Ramsey once said he saw a bumper sticker saying "I dreamed of the salary I'm now starving on." He said that's not funny bc it's so true.

Well that's how I feel. I went to college for 5 years and paid my student loans. I keep going into debt bc I simply don't have enough money. I put food back and we can't afford a 2nd car.

I realize the name it/claim it group are into mansions and cars for 100 grand. That's not me. It would be nice to go on a vacation (haven't in 4 years) or to have another car even for emergencies. God has always provided. I've never starved (picturing the meme about being on a diet? No I'm just broke). Jk

I'd like to spend an hour a day on a side job that's worth my time. I put in 40 hours a week but it's salary so there's no overtime pay. I should also mention i love my job as it's a work from home job. I have 2 small kids. Its soo helpful. Any suggestions for a side job?

It is good and very wise that you are looking and thinking about this problem while you are young. Many just run up a big credit card bill and kick the can down the road. Good luck with your financial difficulties.

 

[JesusLives]

I've had passive income all my life. Every paycheck, I pass it right along.

I always called payday transfer day as it went from my account right into someone else's.

 

[ChristianitySpark]

A lot of "passive" income comes from stuff you can just make once and then leave it out there. I'm a writer and I keep meaning to get around to writing a few ebooks. But I always get too distracted by paid day to day work.

If I could write useful stuff and then have it in online marketplaces, that could be making money while I sleep.

 

[blueluna5]

If you and your husband both work, I find it hard to understand why you have such a hard time making it.
If it cost so much to live where you do, you might consider moving.
Debt is never the answer. Just adds to the cost.

We're "making it" but it's basically just all going to bills. There's nothing to save or play on. There's no vacation money, new clothes, even an occasional $5 latte from Starbucks nope never.

We actually live in a rather cheap area compared to most and our mortgage is much lower than most. But... we have daycare costs and my husband gets sick from the kids all the time. Which means no work if it's bad enough. The car is a big issue and insurance. It's nuts. Food as well... my kids eat a lot. Plus diapers & wipes... it's impossible to keep under 200 a week.

 

[Lanolin]

I saw this movie called Nomadland about a lady living in her van in the usa
Though if you have a family it will be a tight squeeze. However you wont have to pay a mortgage. It will just be cold in winter. But you could always drive further south.

The thing with babies is you need to use cloth nappies that a re reusable i.e washable and dont use those horrible baby wipes that clog up drains. Then potty train your babies. Is granny living with you? Otherwise how are you doing childcare, all by yourself when husband is off working? Thats not going to work unless you both do shift work.. Children really need more than one adult looking after them.

 

[Lanolin]

Not sure why anyone needs a 2nd car...? I thought couples shared a car.

 

[Lanolin]

momtrepeneurs need to come up with ideas that they can go online and sell
Pray and ask God what He can give your hands to do that will help others.

If its one hour a week, I dont know. Some kind of handcraft that you can do at home. I always thought sewing or knitting or baking was something mums can do while looking after children. Just need to make a unique product that nobody else makes.

what do you have on your land thats edible?

 

[RichMan]

We're "making it" but it's basically just all going to bills. There's nothing to save or play on. There's no vacation money, new clothes, even an occasional $5 latte from Starbucks nope never.

We actually live in a rather cheap area compared to most and our mortgage is much lower than most. But... we have daycare costs and my husband gets sick from the kids all the time. Which means no work if it's bad enough. The car is a big issue and insurance. It's nuts. Food as well... my kids eat a lot. Plus diapers & wipes... it's impossible to keep under 200 a week.

If you work from home there should be no day care cost. Take care of them yourself.
If your kids make your husband sick, he needs to grow up and be a man. Kids are a blessing from God.
$200 a week for diapers and wipes! How about cloth diapers washed at home and a wash cloth.
What I see here is a lot of excuses.

 

[Lynx]

Not sure why anyone needs a 2nd car...? I thought couples shared a car.

Heh... Nope. Nooooooo way.

 

[Billyd]

We're "making it" but it's basically just all going to bills. There's nothing to save or play on. There's no vacation money, new clothes, even an occasional $5 latte from Starbucks nope never.

We actually live in a rather cheap area compared to most and our mortgage is much lower than most. But... we have daycare costs and my husband gets sick from the kids all the time. Which means no work if it's bad enough. The car is a big issue and insurance. It's nuts. Food as well... my kids eat a lot. Plus diapers & wipes... it's impossible to keep under 200 a week.

Here are some suggestions that have helped us in the past.

First take an inventory of everything that you have in the closet, pantry, and cabinets. When did you buy it, and how much of it have you used? Could you live with out it? This will give you an idea of your spending habits. When we did this, we found that were buying much more than we needed.

Today you have an easy way of dealing with your spending. Never go inside a store. Make a list of what you need. Order it from the store. Pay for it, and either have it delivered, or pick it up at the store.

I'm not a fan of buying a new car, but I'm also not a fan of buying someone else's problems. If you have a car with a large payment and/or a large repair bill, a lot of credit card debt, and other loans, find a credit counselor. My credit union has one, and many churches can help you find one.

Are you buying 200 diapers/wk or $200 worth of diapers per week? If your children are over two years old, they should be potty trained. At the most there you should need one overnight per child over two years old. That's seven per child, per week. Take the time to train every child over a year old. It's worth ever minute you spend and you will free up a lot of money for your real needs.

New clothes come from the thrift store. When your children have outgrown their clothes, donate them to a parent in need, and take a shopping trip to the nearest thrift shop. Our church association maintains a community thrift shop that also stocks food items for those in need.

Daycare is expensive. If one of you with the lowest income, make less than twice the cost of day care, he/she will be better off to stay at home. The children will do better. It will also improve your husband's health.

I suggest that you and your husband take the next few weeks, and pray for God's guidance in everything your family needs to do.

 

[blueluna5]

If you work from home there should be no day care cost. Take care of them yourself.
If your kids make your husband sick, he needs to grow up and be a man. Kids are a blessing from God.
$200 a week for diapers and wipes! How about cloth diapers washed at home and a wash cloth.
What I see here is a lot of excuses.

Lol you obviously don't have kids. I can't be a full time mom and a full time employee. I have a 1 year old so not only is it unfair, but actually dangerous.

200 a week for food and diapers/wipes. I do actually agree about the husband going when sick but...I have an extremely high pain tolerance and never call off when sick since I wfh.

I'm not an addict. I'm not spending money on myself. I'm working full time. So I'm not sure why so the talk about excuses 🤔 Apparently bc you're a "rich man." Enjoy it then.

 

[blueluna5]

Here are some suggestions that have helped us in the past.

First take an inventory of everything that you have in the closet, pantry, and cabinets. When did you buy it, and how much of it have you used? Could you live with out it? This will give you an idea of your spending habits. When we did this, we found that were buying much more than we needed.

Today you have an easy way of dealing with your spending. Never go inside a store. Make a list of what you need. Order it from the store. Pay for it, and either have it delivered, or pick it up at the store.

I'm not a fan of buying a new car, but I'm also not a fan of buying someone else's problems. If you have a car with a large payment and/or a large repair bill, a lot of credit card debt, and other loans, find a credit counselor. My credit union has one, and many churches can help you find one.

Are you buying 200 diapers/wk or $200 worth of diapers per week? If your children are over two years old, they should be potty trained. At the most there you should need one overnight per child over two years old. That's seven per child, per week. Take the time to train every child over a year old. It's worth ever minute you spend and you will free up a lot of money for your real needs.

New clothes come from the thrift store. When your children have outgrown their clothes, donate them to a parent in need, and take a shopping trip to the nearest thrift shop. Our church association maintains a community thrift shop that also stocks food items for those in need.

Daycare is expensive. If one of you with the lowest income, make less than twice the cost of day care, he/she will be better off to stay at home. The children will do better. It will also improve your husband's health.

I suggest that you and your husband take the next few weeks, and pray for God's guidance in everything your family needs to do.

We're what today calls a minamilist family so... we really don't buy much. I hate toys (only get a couple for Christmas & birthdays). We do go to zoos, trampoline parks, etc. But that's bc we never get an actual vacation.

I thrift the kids clothes. I give them back and get store credit for more. Clothes for them are super cheap. I don't buy clothes for myself.

The 200 a week is for food and diapers/wipes. The only one in diapers is my 1 year old.

The money struggles come from things breaking... heater, fridge, car, etc. It also comes from health issues. But... there's nothing to really do about that.

I did recently get rid of credit cards by doing a personal loan (much lower interest percentage). Hopefully that helps... but it just seems never ending.

 

[Lynx]

Lol you obviously don't have kids. I can't be a full time mom and a full time employee. I have a 1 year old so not only is it unfair, but actually dangerous.

200 a week for food and diapers/wipes. I do actually agree about the husband going when sick but...I have an extremely high pain tolerance and never call off when sick since I wfh.

I'm not an addict. I'm not spending money on myself. I'm working full time. So I'm not sure why so the talk about excuses 🤔 Apparently bc you're a "rich man." Enjoy it then.

Yeah I kinda thought that set of advice wouldn't be well received. I was eager to see how you would reply.

 

[Lanolin]

Ok look at what you spending on food, can you grow your own?
diapers and wipes...can you not use cloth nappies.
Daycare, expensive. I would think it would be cheaper to stay at home and not work, but qualify for a benefit if you can. Because your children need you when they are very young.

Otherwise...

If you rent to own, I'm not sure if works out cheaper but you won't have issues with things breaking if you do that, because they'll replace it if it breaks plus you can get the latest models with fridges and heaters. Ask your city council where you live what policy is on insulation/heating you might be able to get a rebate on heaters.

2nd car, not sure if that's needed but if your company provides you with a car then no issues there.

You husband could ask for a raise at work or do a bit of overtime perhaps, but things like vacations, $5 latte or new clothes aren't a given for most peeps sorry. Esp young families.

 

[RichMan]

Lol you obviously don't have kids. I can't be a full time mom and a full time employee. I have a 1 year old so not only is it unfair, but actually dangerous.

200 a week for food and diapers/wipes. I do actually agree about the husband going when sick but...I have an extremely high pain tolerance and never call off when sick since I wfh.

I'm not an addict. I'm not spending money on myself. I'm working full time. So I'm not sure whyI raised 2 kids and 2 so the talk about excuses 🤔 Apparently bc you're a "rich man." Enjoy it then.

My riches are in the Lord's blessing, not the things of this world which I have few of.
I raised 2 kids and 2 grand kids. They and their well being always came first and I always counted it a blessing from God for the opportunity of doing so.
When people complain about their responsibility toward their kids, any sympathy for them turns to discuss.
I will pray for your kids.

 

[Lanolin]

churches sometimes have camps that young families can go on so parents can have a break, and they won't charge $5 for coffee.
new clothes, church nannas often knit. But all these things people talk about are nice extras that few people have when raising a family. I know it's kind of 'I'd love a bit more' but living within your means is something everyone has to learn.

It can be tough but who said parenting is an easy ride for both mums and dads. Not sure if everyone learns Home economics at school these days but at least learn budgeting.

Single people CAN go on vacations, drink $5 lattes and have new clothes. But you are not a single person anymore. You can't expect to always live like that. Your priority is now your children and husband. Although if you put God first and seek His righteousness, all things will be added unto you.

 

[Lanolin]

Also some churches have toy libraries.
You pay a sub and you can borrow new toys for a year. When children get tired of playing with them you just return them and borrow more.

Staycation. I am not sure what qualifies as a vacation in your eyes, is it just somewhere to go thats not home and don't have to do any work and everyone else cooks for you. Ask to stay with friends? Camp? Just stay home and not work and order in food for a week? Or go stay in a motel for the weekend even if its in your hometown.

Regarding fridges, cars and heaters. Clean your fridge, wash and maintain your car and check out any electrical goods are approved and have warranties before you buy. Unless you bought all your stuff secondhand, try to purchase quality big ticket items that will last and get them serviced regularly.

Unfortunately we live in a machine age where they are conveniences and expenses we can't seem to live without. Though some people can live without a fridge and store everything in the cellar. They just need to go shopping every single day for fresh produce.
Some people can live without a car. Just get uber rides.
Some people live without a heater and wear extra coats. Lots of students live in slum conditions cos they cannot afford heating. Burning exam papers for fuel instead.

Most peoples big headache is ...DENTIST bills. They are never ending! I think the mythical passive income is really just the dole. But you can't have both unless you are a pensioner and you get it once you turn 65 no questions asked in my country, and you can continue to work if you want until you drop dead.

 

[Billyd]

We're what today calls a minamilist family so... we really don't buy much. I hate toys (only get a couple for Christmas & birthdays). We do go to zoos, trampoline parks, etc. But that's bc we never get an actual vacation.

I thrift the kids clothes. I give them back and get store credit for more. Clothes for them are super cheap. I don't buy clothes for myself.

The 200 a week is for food and diapers/wipes. The only one in diapers is my 1 year old.

The money struggles come from things breaking... heater, fridge, car, etc. It also comes from health issues. But... there's nothing to really do about that.

I did recently get rid of credit cards by doing a personal loan (much lower interest percentage). Hopefully that helps... but it just seems never ending.

You are on the right path. Be patient.

Things that break are budget busters for most families. I started putting money into a savings account monthly for this purpose. We drained it last fall with four appliance breakdowns. We tightened our belts and doubled the monthly payments to that account until we had enough money to buy a new appliance. I plan to continue with double payments as long as I can.

Our church has helped several people with emergency expenses. Check with yours.

200 a week is not excessive for food and diapers. Especially with a 1 year old. Look forward to bonus when your 1 year old is potty trained.

I do hope that you and your husband will commit to a daily prayer time together. You can add to the end of your daily devotional time.