The winter and fall holidays can be quite expensive. Spending around $1,000 just for gifts is typical for Thanksgiving, Christmas and other holidays. This does not include holiday spending like travel costs, food, parties, decorations, etc.
Many of you wanted to know more about making extra income during holidays. This could be for many reasons, including to increase your monthly income, save money, pay holiday expenses, or to have more holiday cash.
Today’s post is about how to make extra income during the holidays. This article will teach you about all the different ways you can make extra income and save for Christmas and other holidays.
1. How Much Do Americans Spend On Christmas
First, it would help to understand how much people normally spend on the holidays. Of course, there are many expenses to plan for. Also, depending on your income, the total amount you spend could be different. Despite the ongoing COVID-19 epidemic and economic downturn, Christmas spending remains high. According to the National Retail Federation, Christmas spending will average $997.73 in 2021. This is quite high considering that the median U.S. weekly income in 2021 is $1,001, before taxes.
Still, the following expenses are all common during Christmas.
Gifts:
Christmas is the time of the year when most gifts are given. Most of the time, you need to get something for everyone in the family. It would make sense then that gifts are the largest source of holiday expenses.
Holiday Dining:
Is it even the holidays without a few feasts? Food does not cost as much as the presents. Nevertheless, it can add up fast if you dine out a lot.
Decorations:
Decorating your home is a holiday tradition. By putting them up, you symbolize the holiday spirit. You can easily spend hundreds of dollars decorating. Plus, stores like to up their decoration prices during Christmas.
2. How To Save On Your Christmas Festivities
Although it was a long road, we will all be at the end of 2021. We can all bookend the year by using the holiday season. Here are some tips to help you save money for Christmas. The COVID-19 pandemic is going to change Christmas celebrations this year. You’ll need to make sure you have enough money for next year.
Set A Spending Limit For Exchange Gifts
Gifts are a big topic this year. You will undoubtedly spend money on any size gift. You’ve probably spent more on gifts than you have in the past, which can leave you short of your budget or in deep debt. Set a spending limit on exchanging gifts to fix this problem. Budget limits are the solution! This is also a great time to do it, as the pandemic likely has had an impact on your income. Encourage your family members to set a spending limit on gifts.
Hunt For Online Vouchers And Discounts
Online shopping has become a popular trend. This is a positive outcome of the pandemic. It has become commonplace to receive packages via online delivery services in Maryland. Take advantage of the power and convenience of online shopping for the holiday season this Christmas. You can also save money online by shopping with online vouchers or discounts from well-respected online stores.
Weather-proof Your Fireplace This Christmas
As an excuse to lower the temperature elsewhere, you can invite your entire family to gather around the fireplace or any other space heater. You can create more memorable moments by using less Pepco and gas. Make sure you weatherproof your chimney after you have finished with the fireplace. To properly insulate your home, you can use chimney caps, dampers or chimney balloons to seal out the cold outside air. This will ensure that your furnace won’t need to work overtime heating the house if it does turn on later.
Cook More Efficiently
If you are still interested in cooking multiple meals, prepare your items beforehand so that they can all be baked at the same temperature. This will reduce the time your oven must be on. A crockpot is more efficient than a stove. This means that the gravy can simmer while you work on other things.
3. Ways To Save And Make Some Extra Money This Holiday Season
Forget about saving money–Let’s earn money this holiday season? Search online for holiday-related gifts and start a side hustle to earn a steady income.
These are just a few ideas of how to make some extra cash this Christmas.
☆ You can sell your gadgets online to techie gift seekers
☆ You can cook noche buena food and sell it to your neighbors or online
☆ Bake holiday cookies and then sell them
☆ You can sell lanterns and other holiday decorations
☆ For vacationing families, offer pet sitting and house sitting services
Have A Smaller Scale Christmas Celebration
Let’s face facts: Not all of us survived 2021 in terms of employment. Some were fortunate enough to be demoted while others were let go. While it’s not an option to avoid holidays at such crucial times, it might be a good idea to cut back on the celebrations and save for the future. This is a hard truth that everyone must face.
A simple dinner is better than a large feast. Avoid extravagant gifts and opt for simple, economical presents. It’s not the size of the celebration that is important. It’s how you spend time with your loved ones.
Bottom Line
It is now a part of the holiday tradition to find ways to save money on Christmas. Being financially responsible is all about maximizing every dollar and preserving as much money as possible. As long as you balance holiday cheer with budgeting for next year, you can have your holiday celebrations while still being financially responsible.