As the festive season approaches, many of us are experiencing tighter budgets. With the costs of presents, holiday journeys, and countless celebrations, it may feel challenging to balance the budget. However, there are numerous smart strategies to earn additional cash for the Christmas period, ensuring a relaxed and joyous holiday. Whether you’re seeking a holiday part-time gig or simply require a little more to boost your bank balance, these suggestions should be of help. Here are some of my chosen simple and ingenious ways to supplement your income during the festivities.
1. INITIATE A NEW CREDIT CARD OR BANK ACCOUNT
One straightforward way to secure more cash is by opening a new credit card or bank account. Numerous banks and credit card firms provide welcome bonuses for new users, typically ranging between $50 and $500. Make sure you familiarize yourself with all the terms and conditions prior to signing up. Certain accounts might necessitate a minimum deposit or demand a specific number of transactions to earn the bonus.
For credit cards with a substantial sign-up bonus, you need a decent credit score. If you’re hoping to gain a reward for initiating a new bank account, you should be prepared to set up a direct deposit or maintain a particular sum in the account for several months. However, if you have some savings set aside for emergencies, this could be a worthy investment for a bank account bonus.
Even if the bonus doesn’t arrive before Christmas, you can use it post-holiday to compensate for the spent money.
2. SELL UNWANTED POSSESSIONS
Another effortless tactic to increase earnings for Christmas is selling things you no longer need or use. Online platforms such as eBay, Craigslist or the Facebook Marketplace are great places to sell, or even conduct a garage sale. It doubles as a decluttering and money-making venture. Commence by inspecting every room for potential items to sell. Diversifying the platforms ensures more viewership, or pick an optimal platform based on the item category.
Cashing in on the festive season, you could sell decorations or gift-worthy items like gadgets or collectibles. Your old items might be more valuable than you imagine!
3. REDEEM CREDIT CARD REWARDS
With a rewards card, think about employing your points for some extra spending money. Many cards permit points to be exchanged for cashback, which can be utilized any way you like. Just review the redemption alternatives and any potential fees or restrictions.
My preferred way is using my Citi Double Cash Card for cashback rewards; I get an unlimited 1% cash back on all purchases and another 1% when I pay off the card balance. This year, we’re using the cash back to offset fuel costs for our 8-hour holiday drive.
4. TAKE ON A TEMPORARY WAREHOUSE JOB
During the holiday season, many retailers and shipping companies require additional staff. Temporary warehouse or fulfillment center jobs might offer per-hour-pay and potential overtime hours. Plus, some workplaces provide employee discounts, which could save money on personal purchases.
Companies like Amazon, FedEx, and UPS are always hiring seasonally. With flexible part-time shifts offered by Amazon, you can select a schedule that fits your lifestyle. Some businesses even offer sign-on bonuses and weekly pay, with temporary positions potentially leading to lasting career opportunities.
5. DELIVERY JOBS
For extra holiday earnings, consider becoming a delivery driver. With the popularity of food delivery companies like Uber Eats, Grubhub, and DoorDash, there are abundant opportunities to earn by delivering food. Another option is to work as a courier with Amazon Flex, delivering packages.
These platforms offer flexibility, allowing you to choose your operating hours. Typical earnings range around $15 to $20 per hour though remember to account for gas and vehicle maintenance expenses. The advantage is weekly (or daily for a fee) payouts and retaining 100% of tips.
6. EARN WITH REWARDS APPS AND SURVEYS
Earning a little extra can be as easy as using rewards apps and taking surveys. Apps and websites like Swagbucks, InboxDollars, and Rakuten pay you to shop, watch videos, complete surveys, and more. Remember to check payout minimums and any potential fees before signing up.
7. TRADE-IN ITEMS ON AMAZON
Consider trading in items on Amazon’s exchange program for Christmas cash. Unwanted books, electronics, and DVDs can be traded in for Amazon gift cards. Once you upload the item information and describe its condition, Amazon quotes a price. If the item’s status matches your description, you receive an Amazon gift card with the quoted amount, which can be spent on holiday gifts.
IN SUMMARY
While the holiday season can be stressful, incorporating these smart strategies, you can alleviate some financial strain and enjoy a carefree holiday period. No matter if you decide to sell old items, get a seasonal job, or accrue cash back rewards, there’s an array of options to choose from. Wishing you a happy holiday from SmartAsset.com!
