October 6, 2013

Extra Money for the Holiday

Can you believe that we’re almost ready to wrap up another month? I can’t believe school is going to be starting in three weeks – it seems like yesterday I was trying to plan activities for my little guy that would get us through the “long” summer. Now, I find myself trying to start my holiday planning.

I know, we still have a little over four months before Christmas is actually here, but I like to get my shopping done early. I also hand make a few of the gifts I give to family and friends, which also takes some time too. As an early holiday planner, I’m constantly looking for ways to save and make extra money as the holidays approach.
I know that we can all use a little extra cash when the holidays begin to roll around. So, I thought I would share with you a few ways ideas for “making” some extra cash for this holiday season.

1. Put Money Back – The easiest way to make a little extra money is the old-fashioned save-your-money method. I start doing this in January, but you can start any time. What I do is put back a minimum of $50 from every paycheck. I treat it just like I do the mortgage payment, car payment, electric bill or any other bill. The $50 comes right off the top of my paycheck so I’m never tempted to spend it. By the end of the year, if you don’t add any money to the $50 per paycheck, you will have $1200 saved up. That’s a nice little extra cash that you can spend on gifts…

2. Take a Part-Time Job – A few months before Christmas arrives, a lot of stores begin hiring holiday help. Generally, I start to see “Holiday Help Wanted” signs up in our local stores towards the end of October and the first of November. While working a part-time job will take away time you get to spend with your family, it will give you extra money to spend on your loved ones at Christmas. And, if you are a stay-at-home mom, taking a part-time job outside the home for a few months may be fun.

3. Invest – This idea is the riskiest one of the bunch, but has the ability to make you some additional cash. If you know someone who invests in the stock market, you may consider talking to them about how they do it. If you have a little money to invest, talk to a broker/financial advisor about investing it in a way that will allow you to make some money before Christmas. Another idea is to buy a foreclosed home and flip it. If you find a good deal, you may be able to make a pretty good profit in time for Christmas. If flipping a house is a little more work than you want to do but you like the idea of investing in real estate, consider purchasing a rental property. Good rental properties generally bring in an additional $500-$800 a month profit.

There are certainly more ways to earn extra money for the holidays. All you have to do is think outside the box, make a plan and set it in motion. Regardless of whether you choose to make extra money this holiday season or not, now is the time to start thinking about the holidays!