Media Release

The extreme lengths parents go to make money

  • A new survey found 42% of families had done something drastic to stay at home with the kids longer
  • One in six (17%) had sold possessions to make ends meet, while 15% have changed jobs
  • Parents commended for making sacrifices to stay at home longer

12 December, 2017, Sydney, Australia – Parents desperate to make extra money are turning to selling their possessions, working as Uber drivers and taking out loans from friends, new research by finder.com.au, the site that compares virtually everything, reveals.

Mums and dads who want to stay home with their young children for as long as they can are going to extreme lengths to raise surplus cash.

The dire state of family finances has been highlighted in the inaugural finder.com.au Cost of Kids Report 2017 of 2,005 parents, which found 42% of families have gone to drastic measures to stay at home longer with their kids.

Many respondents, 17%, had sold belongings or assets, and about one in six (15%) had changed jobs to one which allowed them to work from home.

Almost one in 10 parents (9%) had done freelance work to make extra money, while 7% had started some kind of online business.

Others (7%) borrowed money from friends or family, the bank (6%) or rented out a spare room in their property (4%) to make ends meet.

Bessie Hassan, Money Expert at finder.com.au, says one income wasn’t enough for many families when monthly household bills roll around.

“With the cost of living on the rise, stay-at-home parents are forced to think outside the box to ease money worries.

“Some parents would rather purge their possessions than rush back to the job they had before kids,” she says.

Starting a blog (3%) and becoming an Uber driver (2%) were also tactics Australians had tried to spend more time with their offspring.

“The research shows almost half (42%) of families are taking measures to bring in some much-needed extra income.”

Ms Hassan said an unexpected bill can cause chaos for families on a single income.

“Some methods are more extreme than others, with some parents even resorting to the sharing economy as they struggle to pay the bills.

“With the rise of platforms like Uber and Airtasker it has never been easier to make a quick buck,” says Ms Hassan.

“Whether it’s driving at night or completing odd jobs during the day while the kids are at school - there are endless money making opportunities to help ease the pain of living paycheck to paycheck.”

Have you or your partner done any of the following in order to stay at home with the kids for longer?

ResponsePercentage
Sold belongings/assets17%
Changed jobs to one that allows for working from home15%
Completed freelance work9%
Started a social media/online business7%
Taken a loan from friends/family7%
Taken a loan from a bank/lender6%
Rented out a spare room4%
Completed jobs through Airtasker (or similar companies)3%
Started a blog3%
Worked as an Uber driver2%
None of the above58%
Other4%

(source: finder.com.au)

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Disclaimer

The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com.au's review pages for the current correct values.

About us

More than 3 million Australians turn to finder.com.au every month to save money, time and make important life choices. We compare virtually everything from credit cards, phone plans, health insurance, travel deals and much more.

Our free service is 100% independently-owned by two Australians: Fred Schebesta and Frank Restuccia. Since launching in 2006, we’ve helped our users make more than 17 million decisions.

We continue to expand and launch around the globe, and now operate in the United States and United Kingdom. For further information visit www.finder.com.au.

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