The Christmas countdown has officially begun! But if you are counting the cash in your bank account and wondering how you’re going to get through the holiday season without a credit card hangover, we’ve got your back.
Here are five ways to get extra cash quickly and avoid post-holiday financial regrets:
Redeem Cash Back and Credit Card Rewards
Now is a great time to cash in on those credit card rewards you’ve been building up all year! Redeem your cash back for a statement credit as you shop or use your points to buy gift cards. Speaking of gift cards…
Gather Up Gift Cards
If you already have unused gift cards laying around, now is the time to bust them out. You can either use the gift cards to buy gifts directly or regift them completely. (Just make sure the balance is a nice round number like $50, otherwise, it’s obvious that you’re regifting).
Reprioritize Savings
If you have been saving for other goals like your emergency fund or travel but neglected your gift fund, focus all of your savings for the next few paychecks on just saving for holiday expenses. Once this holiday season passes, make sure to keep funding that gift savings throughout the new year to avoid putting yourself in the same position again.
Make Extra Money
Plenty of places hire extra part-time workers just for the holiday season: retail shops, delivery services, warehouses, and even Christmas tree stands are all options. This is a great opportunity to earn a little extra without the expectation of a long-term commitment. If you have a side hustle like photography, you might be able to make some money taking family photos for holiday cards. If you don’t want to dedicate your time off to working more, you can also earn one-time cash from selling items you don’t need on websites like Facebook Marketplace, Poshmark, or Mercari.
Holiday Bonus
If you can count on a holiday bonus, earmark a portion of that for your holiday gift fund. Of course, there is a danger in spending money before you have it, so wait until you have the cash in your bank account before starting to spend the money!
