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Seven Additional Ways to Generate $500 for the Holidays

A report by the National Retail Federation for 2023 indicates that the average holiday expenditure among Americans is $875.

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Seven Additional Ways to Generate $500 for the Holidays

Seven Additional Ways to Generate $500 for the Holidays: Until New Year’s, if you’re like the majority of individuals who are celebrating the winter holidays, you’re spending more money than usual.

A report by the National Retail Federation for 2023 indicates that the average holiday expenditure among Americans is $875. Whether you have only saved a fraction of the amount or wish to cut your holiday expenditures in half, you should take steps to close the gap.

The following seven practical yet inventive suggestions will add approximately $500 to your budget. By the time the bills are received, you can utilize them to settle a credit card balance that you accrued while purchasing or for holiday expenses.

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1. Put in Extra Time

Examining what is immediately accessible is the simplest method to increase one’s income, according to Mark Balog, a CPA in Long Island, New York. “At this moment, one should hurry. “By approaching other retailers in advance and inquiring whether they require additional support, you might be eligible to extend your working hours.”

Depending on your hourly wage, this might be your best option. “Additional work for five to ten hours per week or on the weekends could help you earn the $500 you desire, depending on your wage,” he further explains.

2. Lease a Vehicle

Consider enrolling in a car-sharing organization if you own a second vehicle that you do not use frequently or if your car or truck is not in use. A location-dependent option may be accessible to you.

Getaround, for instance, maintains operations in thirty states. Rapid onboarding is precisely what you require. There are two initial charges of $99 for setup and $20 per month, but individuals can reserve their vehicle as soon as it becomes available. It can generate a substantial passive income. The monthly earnings of a 2003 Toyota Yaris located in Seattle are $1,425.39, per company data.

3. Trade In Used Electronics

Upgraded electronic devices can be among the most profitable yet superfluous possessions one possesses. These encompass obsolete iterations of mobile devices, tablets, laptops, and gaming equipment that are presumably ideally stowed away in storage areas such as cabinets and closets. Now would be an ideal time to eliminate them. It is truly remarkable the amount of money that can be earned in this manner. Maintain an iPhone 14 Pro in working order. You can earn up to $570 by reselling the item via Apple.com trade-in.

4. Serve as a babysitter

Notify individuals who are qualified to care for children and have a fondness for them that you are available to supervise during the holidays. Individuals within your social circle or locality may be attending holiday parties and require a dependable individual to watch their children, particularly if all other attendees are occupied.

The national average hourly rate for one child, according to UrbanSitter data from 2023, is $22.68. However, this figure can considerably increase if you are responsible for multiple children at once or reside in an affluent neighborhood. One can anticipate earning 1.5 to 2 times the standard rate if their services are made available on New Year’s Eve.

5. Gig in the Most Profitable Manner

Boost your prospects of accumulating sufficient funds for the holidays by securing employment with a company that offers notably high rates for the services you are willing to provide. For instance, you can offer your services for a fixed fee on Airtasker, including furniture assembly and bicycle repair copy editing. After accepting your price, the platform will link you with individuals who require your services.

6. Volunteer as a shift filler

During the holiday season, many restaurants experience increased service, and demand for labor is high. As of the beginning of 2023, the National Restaurant Association documented a nationwide personnel crisis, wherein labor had decreased by 3.6% below pre-pandemic levels.

You can inquire with nearby restaurants about whether they require assistance for a few weeks, or you can register with an intermediary company such as FrontHouz. There are numerous locations where you can take up shifts on the fly without making a long-term commitment.

7. Offer Pet Care Services to Holiday Travel Recipients

If you have a soft spot for animals, post an advertisement on local platforms offering to watch over people’s pets while they are away on vacation. As stated in the Care. website, it is possible to charge at least $20 per visit. With a few of these arrangements secured, it will not be difficult to amass $500. Alternatively, one could manage the furry child of a friend and earn hundreds per week.

Reducing the Budget for Increased Expenditures

Avoid squandering your budget, advises Balog. Within a few weeks, there are numerous ways to cut back on unnecessary spending by several hundred dollars or more. Examine your expenditures meticulously and initiate substantial adjustments.

For instance, food and beverages consumed outdoors can be quite pricey. Consequently, you may wish to eliminate or reduce these purchases. By doing so, you will not only achieve your $500 objective but also position yourself favorably for the coming year.

“The holidays are a time for personal and business financial forecasting alike.” Imagine what you can accomplish over an extended period if you can save or earn this much through effort in a short period,” advises Balog.

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