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5 holiday side hustles to boost your end-of-year budget
Earn extra cash for your holiday expenses with these popular side gigs.
Holiday spending can put a big dent in your budget, and may even lead to a holiday debt hangover in January if you aren’t financially prepared. In fact, the average person plans to spend $708 on gifts alone this holiday season, <a re looking for part-time work (and potentially, an employee discount), check out the dedicated " seasonal jobs webpages for walmart kohl macy bath body works best buy and other retailers. common positions include cashiers stock associates sales floor greeters.>
Keep in mind that seasonal retail roles often require you to work evenings, weekends, and holidays; being open to those shifts makes you much more hirable. You should also be willing to start right away and stay through early January. And if you perform well, there’s a chance you may be offered a full-time position once the holidays are over.
5. Selling goods online
Holiday shoppers are often looking for creative gifts and decor. So if you’re particularly crafty, you could set up an online store on a site like Etsy and sell your handmade goods (Think: candles, ornaments, greeting cards, or custom tote bags).
Or maybe you’re an expert thrifter. If you have an eye for standout pieces, consider flipping your finds on eBay, Poshmark, or Facebook Marketplace.
What to consider before taking on a holiday <a s important to understand how it will impact your finances and lifestyle.
For instance, earning money on the side comes with tax implications. Whether you’re working an extra part-time job or earning side income doing gig work, the money you earn is considered taxable income. And if taxes aren’t automatically deducted from your paycheck, you’ll need to set aside 25% to 30% of your earnings for estimated quarterly taxes.
It’s also important to find out whether your primary employer has any rules against having a <a t, if your side gig and your main job are similar in nature and target the same customers, it could be considered a conflict of interest and put your main job at risk.
Finally, consider whether taking on a side gig will truly help or hurt your overall situation. Having extra money in the bank ahead of the holidays is great, but adding too much to your plate during an already busy time could lead to burnout in the new year. Plus, certain jobs may require an upfront investment for things like crafting supplies or gas for your car, which can eat into your profits.
So, be realistic about how much time and money you can dedicate to a holiday side hustle, and be sure you factor in some downtime to actually enjoy the holidays, too.
