As our loved ones age, it’s natural for them to require more assistance and care. For many adult children, this means taking on the responsibility of caring for their aging parents. According to a recent study by Guardian Life, caregiving in the U.S. is on the rise, with approximately 100 million adults currently caring for a child, parent, or other relative. This number has increased significantly over the past few years, with 53 million adults specifically caring for a spouse, elderly parent, or special-needs child.
The rise in caregiving responsibilities can have a significant impact on individuals who also work full-time jobs. With the majority of U.S. households relying on two incomes, the need to step back from work to care for an elderly parent can put a strain on household finances. This is where flexible side hustles come into play, offering a way to earn extra income while still being able to provide care for loved ones.
Lisa Kaufmann, an aging life care manager and end-of-life doula at SeniorCare Options in Atlanta, emphasizes the importance of self-care for caregivers. She notes that taking on projects or hobbies that allow caregivers to focus on their own interests can be beneficial in maintaining a healthy balance between caregiving responsibilities and personal well-being.
If you find yourself in a position where you need to support an elderly parent, there are several money moves you can make to ease the financial burden and potentially find personal satisfaction as well. According to Care.com, here are four ways to earn extra money while caring for an elderly parent:
1. Delivery Driver: Becoming a delivery driver for services like Instacart, Shipt, Amazon, or UPS can provide a flexible way to earn extra cash. You can shop for and deliver customer orders, all while using your own vehicle.
2. Rideshare Driver: Consider signing up as a rideshare driver on platforms like Uber or Lyft if you have a reliable vehicle and clean driving record. This flexible gig allows you to work when it’s convenient for you, making it ideal for caregivers with busy schedules.
3. Babysitter or Nanny: If you enjoy working with children, consider offering babysitting services in your local community. Marketing yourself through local groups and boards can help you find clients, especially during school breaks.
4. Pet Sitting or Dog Walking: Pet sitting and dog walking are popular services for those who love animals. Platforms like Rover and Wag can connect you with pet owners in need of care for their furry friends.
By exploring these side hustle opportunities, you can not only alleviate financial stress but also find fulfillment in pursuing activities that you’re passionate about. Remember, it’s essential to prioritize self-care and maintain a healthy balance between caregiving responsibilities and personal well-being.
