You can never be too early to start finding extra cash for holiday gifts. You want to buy your loved ones the best presents and not strain yourself, financially. This is why you should plan ahead and plan carefully. Do not wait until the last minute, or you will have an unfortunate surprise in January. You can save money and avoid a huge credit card bill that could last until next summer. This article will tell you how you can find extra money for the holidays and help you have a nice holiday without any looming debt. (Maybe, you should have a less stressful holiday, this time around).
How Can You Find Extra Money for the Holidays?
Between Halloween, Thanksgiving, and Christmas, this is probably the busiest time of year. Even if you are not buying presents, there are still financial aspects that you need to consider. If you are currently paying off your debt or trying your best to save money, then you might find it hard to do so during the holidays. But, there is a loophole. You can make extra money that will allow you to spend money without burning through your savings. If you make more than you spend, then you can always put them towards paying off your debt or your savings. There are a lot of small ways that you can make money for the holidays; you just need to know where to look for the money pot.
Improve Your Income
Seasonal work is in high demand before and during the holidays. This is a great pro for you, since you can pick up some extra work. Typically, retailers hire extra staff in late October and early November. You might work nights or weekends, but you will still earn some money. Also, you can benefit from employee discounts. If you are looking for seasonal work, then you should follow the herd. This means that you should find the crowds and look for work there; that is probably where retailers need extra staff. You can even make good money working overtime at your own job. If you can and want to work during Christmas or Thanksgiving, then you should. These shifts often pay double or triple pay.
Let Your Money Do the Work
You do not have to work overtime or find seasonal work to make more money for the holidays. Another option is setting aside a little money every week and spending it during the holidays. If you can set aside $50 per week, then you will accumulate an amount of $400 in two months. Try not to eat out for two months and use that money to save for the holidays. You’ll have your fair share of good food soon, anyway. Consider setting aside that money in a savings account that earns interest. You can spend the money you saved, plus the interest that accumulated throughout the months. (It will not be much, but it could be enough for a nice holiday).
Get Extra Money from Your Credit Card
Consider using your credit card, especially if they offer cash back on your purchases. You can take advantage of the rebate card, which can add up after making big expenses. Make sure to choose a card with a low annual fee and purchase items that qualify for cash back. In order for this to work, you will need to pay off your entire bill before it is due. You should be careful, though. These cards like to charge really high interest rates and it can be very time-sensitive. Make sure that you have the space to pay off your entire bill in full before you do this.
Cut Corners and Create a Holiday Budget
It might not be as much fun to carefully calculate how much you spend during the holidays. But, sometimes it could be necessary. You could always create a holiday budget and make sure that you add all your expenses. This could include eating out and buying presents. You could also consider going for Secret Santa this holiday season, rather than buy presents for everyone. All you have to do is invest your money in one present. We are sure that your loved ones will understand. After all, you are probably not the only one who has trouble with your finances.
Save Money on Shopping
As mentioned above, you should start planning ahead; your gift list is not an exception. You can think about your gift list early and set a spending limit. It will allow you to know how much you will spend during your shopping trip. You will also avoid the impulsive holiday spending urge that everyone falls into. Also, you will make sure that you have enough money to buy all the holiday gifts you planned for. (Planning is the key to making extra money, but you need to make sure that you stick to the plan). Make sure you stick to the gift shopping list, no matter how pretty and tempting you to buy.
Prepare for Next Year
Once you finish up the holidays, you should start thinking about next year. You can always work on covering your holiday expenses next year. If you get a raise throughout the year, then you should deposit that money directly into a savings account with interest. That way, you will not need to push yourself to make ends meet. If you prepare for the next year, then you will be able to fix your finances. Make sure that you do not spend those funds and pretend like it is not there until the holidays start.
Work As A Dog Walker Or Pet Sitter
If you do not have any problem or allergies with pets, then you should consider pet sitting. Pet sitting is literally sitting home with a dog or a cat and taking care of other peoples’ pets for a short while. If you like animals, then it might be more fun for you than the actual pets.
In conclusion, we all know that the holiday season can burn a hole in your wallet. You will need extra money for the holidays, rather than burn through your savings. To earn more money, you should look for seasonal work or work overtime at your own job. Consider even working as a dog walker or a pet sitter. You can even adjust your tax withholding or set aside money every week. If all else fails, then you should start planning for the next year or think about your gift list early. Never underestimate the temptation of impulse shopping, so set a budget for your holiday gifts.