Maximize Your Holiday Savings: 8 Effective Side Hustles to Boost Your Budget

As the holiday season approaches, many of us find ourselves making lists and checking them twice, only to realize that our budgets are tighter than we’d like. Generosity often takes a back seat to frugality, but it doesn’t have to be that way. Bringing in additional money ahead of the holiday season can help you meet your savings goals and stay on your in-laws’ good side. At O1ne Mortgage, we understand the importance of financial stability, especially during the festive season. That’s why we’ve compiled a list of eight effective side hustles to help you earn extra funds fast, ensuring you can shop for gifts for your loved ones without taking on additional debt.

1. Get a Seasonal Job

Seasonal retail jobs offer a great way to bring in additional funds during the holidays, with the expectation that the position may end after the start of the new year. These gigs tend to begin when shopping ramps up in the fall and may end sometime in January or February when the rush fizzles out and restocking is done.

Consider these possibilities:

• Drive for delivery services such as UPS and FedEx.
• Check for openings at your local mall.
• Try department stores such as Macy’s, Kohl’s, and Target.
• Ask around at neighborhood businesses that sell holiday goods, such as bakeries or Christmas tree vendors.

Tip: To get the most out of your efforts to hit your holiday savings goals, see if you can get a job somewhere that you could do the bulk of your holiday shopping. Some shops offer employee discounts, which could make your holiday funds go further.

2. Sell Stuff You No Longer Use

Take inventory of the things you have around the house that you no longer want or need. Clothes you never wear, unwanted furniture, appliances, utensils, decor, and more—all of it could be someone else’s treasure and help you make money from home.

Local marketplaces to list your items online:

• Craigslist
• Nextdoor
• Facebook Marketplace

If you’re willing to ship, you can reach a larger audience by:

• Selling miscellaneous items online on eBay or Amazon
• Selling clothing on Poshmark or Depop
• Selling vintage goods and crafts on Etsy

3. Find Freelance Work

Picking up freelance work in a field in which you already have skills or experience can be a flexible and lucrative way to bring in extra cash. Web design, copywriting, editing, social media marketing, and software development are all among the most in-demand freelance skills.

Platforms to start offering your services:

• Upwork
• Fiverr

If you find that you enjoy the freedom and creative challenges freelancing offers, you can also launch an online business to offer your professional services to a wider clientele.

4. Take Care of Pets

If you love hanging out with animals, why not apply your passion to bring in extra income ahead of the holidays? Dog walking, dog and cat sitting in someone else’s home, and boarding animals in your home are all good options.

Platforms to connect with clients:

• Rover
• Wag

These services are often even more in demand over holidays, which means you won’t have a hard time finding someone who needs you to watch their furry friend—and you can charge a premium for your services.

5. Tutor a Subject

Do you have a knack for an in-demand subject, such as English, science, math, or computer science? Tutoring could be a great way for you to turn your skills into a profit. Plus, tutoring can be extremely rewarding for people who love helping others learn and reach their goals.

Ways to get started:

• Offer your services online through platforms such as Tutor.com or TutorMe.
• Build an online presence by creating a website for your services.
• Let your friends know about your new tutoring business on social media.
• Connect with students in person by putting up fliers or reaching out to local college libraries.

6. Deliver Food

Another tried-and-true way to earn extra money is driving for a food delivery service. There’s a demand for delivery drivers on platforms such as Postmates, Uber Eats, DoorDash, and GrubHub. It’s flexible and offers the ability to earn substantial income fast.

Requirements:

• Meet the driver requirements for each individual platform.
• Have a working vehicle.

In high-demand areas, working during busy hours and earning tips make this a lucrative way to make your holiday savings goal a reality.

7. Rent Out Your Space

If you have a spare room, renting it out on platforms such as Airbnb or Vrbo could help you earn holiday funds. That’s particularly true if you live in a popular travel destination. It’s free to list your space on these platforms, but they’ll take a percentage of your profit.

Important considerations:

• Research regulations in your area before you decide to rent out your space.
• Ensure short-term rentals are permitted in your zone.
• Check out what types of taxes will apply.
• Be aware that a standard homeowners or renters insurance policy could exclude you from renting out your space.

8. Use a Rewards Credit Card

During the holiday season, you may be doing more shopping than usual. A cash back rewards credit card can help you earn money on the spending you’ll already do.

Tips for using rewards cards:

• Choose a cash back credit card with generous rewards in retail.
• Redeem that money as a statement credit to trim down your balance.
• Pay off your balance in full each month before interest accrues.

Note: Rewards cards are only worth it when you can afford to pay off your balance in full each month. Otherwise, you may end up carrying holiday debt into the new year.

Get More From Your Money

In tandem with spending strategically this season, picking up a holiday side hustle can help you afford the gifts you want to buy your loved ones. There’s no shortage of possible ways to bring in extra cash this holiday season, and the right gig for you is one that you enjoy and that employs your creative skills.

But remember that while increasing your income can bring in extra cash, that cash will only go as far as you make it go. Creating a budget should be your first step to planning for the holidays. Your budget helps you know where your cash is going, and it helps you set aside funds for specific goals—including nailing your holiday shopping.

At O1ne Mortgage, we understand the importance of financial stability and planning. If you’re looking to make a significant financial decision, such as buying a home or refinancing your mortgage, we’re here to help. Call us at 213-732-3074 for any mortgage service needs. Our team of experts is ready to assist you in achieving your financial goals, ensuring you have a stress-free and joyous holiday season.