The story below is a preview from our November/December 2024 issue. For more stories like it, Subscribe Today. Thank you!
Create additional income this holiday season with these helpful tips.
Although the stock market has continued to rally in 2024, a significant portion of the American population is grappling with the challenge of saving money. The upcoming 2024 presidential election has engendered economic pressure and uncertainty. Particularly, inflation is highlighted as the primary financial concern, closely followed by housing expenses, the potential for a recession, healthcare costs, interest rates, taxes, overall saving capacity, debt (including student loans), job security and salaries.
Many individuals are seeking strategies to curtail costs and bolster their overall savings, particularly in preparation for the upcoming holiday season. Listed below are some creative ideas to boost your income and alleviate the financial stress of the holiday.
Freelancing: Utilize Your Skills
During the holidays, it is common for many professionals to seek additional sources of income through freelancing. It is a popular side hustle that presents the opportunity to utilize your skills effectively. Freelance graphic designers, writers, editors and website developers are all in high demand. Working on a project-by-project basis, freelancers can manage their workload efficiently while earning extra income. This tried-and-true method is particularly valuable during the holidays when financial demands may be higher.
Selling Homemade Artisan Crafts and Goods
If you enjoy getting crafty and letting your creativity flow, why not transform your passion into a successful business? Create handmade artisan crafts and goods to sell at local markets, craft fairs or popular online platforms such as eBay and Etsy. Handcrafted jewelry, candles, soaps and decorative items are sought-after holiday gifts that can bring in a solid profit. By using your artistic side to produce one-of-a-kind items, you can earn extra income and have a more relaxed holiday season.
Gift Wrapping Services: Turn Wrapping into Profit
During the holidays, many people are pressed for time and eager to outsource tasks like gift wrapping. If you have a knack for presentation and attention to detail, consider offering gift-wrapping services for a fee. You can advertise your services on social media, community bulletin boards or through word of mouth. By providing a convenient and professional gift-wrapping service, you can earn extra money and help others check a task off their holiday to-do list.
Sell Unneeded Items
Using online platforms to sell unused and unneeded items is a fast and easy way to earn extra cash. Give yourself room for negotiation as many people can be expected to haggle when buying used products. There is a platform for every kind of reseller; however, it is important to pay attention to fees. Each website charges for listings, shipping and processing of your items.
For instance, the Facebook marketplace does not charge fees to list items for local pickup. Sellers are, however, charged 10% of the sale price for shipping, plus a 2.9% processing fee. Consider the types of products you will sell, your audience and the cost to list each item. Many websites do not charge a listing fee, but some may. It can also be helpful to look at what platforms charge to advertise your listing to reach more viewers.
Want to learn about more ways to generate additional income this holiday season, including some tips for executing your chosen activity? Check out the latest issue, now on newsstands, or see it for free in our digital guide linked below!
The story above is a preview from our November/December 2024 issue. For more stories like it, Subscribe Today. Thank you!