As the holiday season rapidly approaches, the financial squeeze can certainly be felt. The cost of gifts, traveling, and attending festive gatherings can make budgeting tough. However, there are many creative strategies available to boost your budget over Christmas, allowing you to have a joyful and stress-free holiday.
No matter if you’re on the hunt for a seasonal part-time job or just seeking a little additional money to bulk up your savings, this list should provide some useful solutions. Here are a few of my top picks for simple and smart methods to increase your budget during the holiday period.
1. SET UP A NEW CREDIT CARD OR BANK ACCOUNT
An uncomplicated strategy for supplementing your income could be to open a new credit card or bank account. A lot of banks and credit card providers offer welcome bonuses for new customers that can range from $50 to $500 or even more. Do make sure you understand the terms and conditions for these offers. Some of them might necessitate a minimum deposit or specific number of transactions.
Decent credit is often a prerequisite for credit cards with high welcome bonuses. Opening a new bank account for these bonuses may require you to set up a direct deposit or maintain a certain balance for a few months. If you have some spare cash saved up for emergencies, this could be an excellent opportunity to use to your advantage.
Even if the bonus doesn’t arrive by Christmas, you’ll still be able to use it to replenish your account when it does arrive after the holiday.
2. SELL UNWANTED ITEMS
Another straightforward way to gather extra cash for Christmas is by selling off unneeded or unused items. You can list these on online platforms such as eBay, Craigslist, or Facebook Marketplace, or even hold a garage sale. Decluttering your home can also provide you with some bonus funds. To get started, scour your home for potential items to sell. Cross-posting on various platforms can help reach a wider audience, and choosing the right platforms for certain items can help increase sales.
Remember, the holiday season is an excellent time to sell decorations, electronics, or collectables that would make great gifts. You might be pleasantly surprised by the value of your old possessions!
3. CASH IN CREDIT CARD REWARDS
Should you have a rewards-earning credit card, think about cashing in the points to augment your spending budget. Many card companies let you convert your points into cash back, which can be used as you wish. Check the rules and potential costs beforehand though.
I personally enjoy using my Citi Double Cash Card to get cash back rewards, which can be used to cover holiday expenses.
4. SECURE A SEASONAL WAREHOUSE POSITION
Retailers and delivery companies often hire additional personnel during the holiday period to meet increased demand. Consider a seasonal job at a warehouse or distribution center. These jobs often pay by the hour, providing additional opportunity for overtime. Plus, you might get discounts on holiday gifts.
Temporary roles can also open doors to permanent positions.
5.BECOME A DELIVERY DRIVER
A further great option to generate extra cash over Christmas is to deliver food or packages. With the rising popularity of food delivery apps like Uber Eats, Grubhub, and DoorDash, there are plenty of money-making opportunities. Alternatively, you could look into delivering packages for Amazon Flex.
One caveat to this option is the costs associated with maintaining your vehicle.
6. UTILIZE REWARDS APPS AND COMPLETE SURVEYS
Using rewards apps and completing surveys are simple ways to earn some extra money. Websites and apps like Swagbucks, InboxDollars, and Rakuten pay you for shopping, watching videos, answering surveys and more.
7. TRADE-IN UNWANTED ITEMS ON AMAZON
Lastly, consider Amazon’s trade-in program to declutter and earn. You can exchange books, electronics, and DVDs for Amazon gift cards, which will come in handy when buying holiday gifts.
To summarize, the holidays can often cause financial stress, but it doesn’t have to be that way. By implementing these innovative strategies for additional income over Christmas, you can reduce the fiscal strain and enjoy a relaxed holiday season. Whether you chose to sell items online, secure a seasonal job, or make use of cashback rewards, there are numerous options. Happy holidays!
