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How To Make Money From Your Parents

how-to-make-money-from-your-parents

Helping your parents is a great way to show appreciation for all they do. Sometimes, it can even earn you money. When you’re in college, money can be tough, especially if your parents can’t provide much financial support.

The government decides how much money you get for college based on what your parents earn. But not all parents can give money for various reasons, which can leave some students with less money for college.

If your parents can’t give you much or if you just need more, it might be hard to ask for it. But there are ways you can earn money without having to ask your parents for more. We’ve got some ideas that can help you make money while also helping them out.

9 WAYS TO EARN MONEY FROM HELPING YOUR PARENTS

1. REFER-A-FRIEND SCHEME

Telling your parents about certain companies can get you both free money. Think about the websites or services you use often that your parents might like too. Check if these places have a “refer-a-friend” program online. Lots of these programs give cash rewards or credits.

Banks usually give the most money for referring friends and family. But student accounts might not have these offers. While at college, you and your parents can separately look for banks with good sign-up offers. Later, when your student account ends, your parents’ bank might have a refer-a-friend program that helps both of you earn money.

2. ONLINE SHOPPING ON CASHBACK SITES

When your parents plan to buy something online, you can offer to do it for them through a cashback site. It won’t cost them more, but you’ll earn money from the purchase. Cashback is like getting some money back after buying stuff.

There are guides that explain it in detail.

Also, keep an eye on supermarket apps for cashback. If there’s a deal on something your parents often buy, offer to get it for them. They can pay you back, and you’ll keep the cashback reward.

Make sure to check the rules of the cashback site to see if buying for someone else is allowed.

3. SWAP THEIR BILLS

Helping your parents switch their energy providers might save them money, and you could get some money too. Look for providers with good prices and bonuses. If your parents switch, they’ll pay less each month, and they might give you the sign-up bonus.

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If they’re not using a green energy provider, suggest they switch. It could save money and help the environment. Octopus Energy is an example of a good green energy provider that gives a bonus for signing up.

You can also help them switch their broadband provider. Some companies give vouchers when you sign up. You can learn more about it in guides for the best broadband deals.

4. FIND THE BEST DEALS

When you’re a student, saving money becomes a habit. Look for cheaper options of things your parents regularly buy. If you find something at a lower price, offer to buy it for them. They can pay you what they usually spend, plus a bit extra. It won’t cost them more and helps you earn some cash. Sign up for our weekly deals email to stay updated and get a budget sheet.

5. HELP WITH ERRANDS

Offer to run errands for your parents during term time or holidays. You might ask for a small fee, but you can also earn rewards by walking. Apps like Sweatcoin offer rewards based on your step count, which you can use without your parents paying you. Doing tasks that help your parents also boosts your step count.

6. DO HOUSE CHORES

If your parents are okay with it, doing house chores for a bit of money is a good way to earn at home. It could be cleaning, laundry, meal prep, or other tasks. Homemade cleaning products can save money and are eco-friendly.

7. DO FREELANCE WORK

Use your skills to freelance for your parents’ business or a community club. You could manage social media, create marketing materials, or help with a website. Remember to declare your income if you’re working for yourself.

8. LOOK AFTER PETS

If your parents have pets and they’re away, pet-sitting at home could be helpful. It’s less stressful for them than hiring a professional petsitter. You can ask for a fair amount of money for your time, and it’s enjoyable being with animals you already know.

9. ASK FOR MONEY INSTEAD OF GIFTS

If you need cash, consider asking for money for your birthday or Christmas. It shouldn’t cost your parents more than what they planned to spend on a gift. But only do this if you’re comfortable; there are other ways to earn money if this doesn’t suit you.

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