As Christmas decorations start popping up earlier than ever, instead of getting irritated, take it as a cue to start planning your holiday budget. The National Retail Federation reveals that an average consumer spends about $750 for holidays, an increase from the previous year. However, this figure excludes holiday travel expenses and time off work to spend with loved ones.
Generating additional income is an efficient way to deal with this sizeable seasonal outlay. And because you wouldn’t want to spend all your leisure time working, here are some straightforward methods to garner some extra money before Christmas.
1. Take up a Temporary Job
Retail outlets, eating joints and even call centers often require additional workforce during the holiday season. If you have spare time during evenings or weekends, you could opt for part-time shifts. You could then channel your earnings into a separate account specifically meant for holiday expenses. MSN recently published a list of 16 companies that need temporary staff.
2. Sell Unused Gift Cards
From 2005 to 2011, a shocking $40 billion worth of gift cards went unused. It’s possible you have some of them taking up unnecessary space in your wallet. Rather than letting them collect dust, turn them into cash on GiftCardGranny.com, where you get as much as 92-percent of the card’s original value.
3. Earn Money for Tasks
Remember the times when you were paid for taking out the trash or walking the dog? Thankfully, you can still make money by performing minor tasks via TaskRabbit, an online platform that allows people to bid on chores required by others.
4. Alter Your Withholdings
Though the holiday season may be daunting for some, tax season is often dreaded more. Even though there’s still time to worry about your tax returns, adjusting your withholdings can bring in a few extra bucks. If you received a substantial return this year, consider reducing that interest-free loan to the government to ease your holiday finances.
5. Redeem Rewards for Gifts
With the holiday season nearing, your credit card usage is most likely to increase. Use this opportunity to use your available reward points. If accumulated sufficiently, you could redeem them for gift cards to buy presents or even to give directly as gifts. They may also help pay for holiday travels. For strategic advice on rewards redemption, check out this article from MarketWatch.
6. Avail Free Services
Do you make frequent ATM withdrawals, or do you accumulate a lot of text messaging charges? Do you pay for your children’s meals when dining out? Free versions of these services can save you money for things that do cost. Withdraw cash when grocery shopping, use a free texting app like textPlus, and refer to this list of over 100 restaurants where kids can eat free.
7. Sell Your Belongings
You can make extra cash by selling your clothes, accessories, and electronics. Another popular money-saving method is swapping, where you can exchange infrequently used items for something new-to-you. Consider organizing a swap party with your friends, or visit Swap.com to trade your items online.
8. Put Your Skills up for Hire
Regardless of your expertise, be it web design or number-crunching, your abilities can earn you money beyond your regular job. Elance is an online platform that joins freelancers with clients in need of specific talents, providing an easy avenue to search for your next paycheck.
