In My Plan for Financial Independence, I mentioned my husband decided he'd ditch his dead end job and return to school. I agreed, but with a few restrictions. He would have to pay his own tuition and he would have to earn his own spending money for hanging out with the guys. That meant that I would take care of the mortgage, gas, groceries and all of the grown up stuff. I included those restrictions because one, I have my own plan for world domination and I believe in order for relationships to work me having to set aside the money to pay for tuition would negatively affect my get out of debt plan. And two, I wanted to see how hard it would be to make money without having a boss. We all know most people will never hit it big working for someone else even with a college degree and a well-paying job. Financial independence is more likely if you work for yourself and own a business.
This is what he has done so far to earn extra money:
My husband lived with me for two years before we were married. For the entire time, his one bedroom renovated 1920's house sat empty. I had been bugging him to rent it out for a while, but he refused. Secretly, I think he wanted the house to stay empty incase it didn’t work out between the two of us.
We're married now and he needed the money, so he finally decided to clear out his bed, clothes, and car parts and rent the house t.
Monthly income: $473
Duration: 2 hours per month
Hourly wage: $236
He's also car enthusiast who spends hours at a time looking at car porn. He walks around the rows and rows of metal caucuses and broken windshields at junk yards as a stress reliever. So selling salvaged car parts on Ebay was a no brainer. He also buys new parts from sites like Alibaba and sells them to other car obsessives from the neighborhood.
Monthly income: $200/month depending on the price of the salvaged units
Duration: 4 hours (salvaged, posting the parts online, and then shipp)
Hourly wage: $50/hour
Is it Enough
His old job paid $13 per hour, which netted $1600 per month. Now he's averaging $112/hr. He hasn't come up with enough income streams to meet his previous monthly wage, but he is making enough money to make tuition.
Since he's on winter break we're playing around with Uber and/or Lyft… I'll be posting our experience on ridesharing programs as soon as I can figure out how to get registered. So far it's not as easy as we thought it would be.