Christmas is just around the corner! This year has gone by so fast.
While the holidays are usually a joyous time, they can also be very expensive. Travel, gifts, copious amounts of food! All of it requires money. I like to start thinking about these expenses around this time of year, so I'm not caught out. And I use Christmas as a source of motivation to try and increase my income. Remember the easiest way to save more, is to make more!
So here are some ideas on how you can generate a little extra cash before christmas:
Swagbucks is one of my favorites to reliably earn a little extra cash on the side. On swagbucks you earn money for filling out surveys, searching the web, trying out apps and watching videos. You can also earn cashback on your online purchases.
For completing these tasks you earn credits which can be exchanged for gift cards (like Amazon or iTunes) or just convert them into cash which gets paid out to your PayPal account.
What I like most about Swagbucks is the shear amount of tasks available. There is always more than I can complete. It's perfect for quickly earning a small amount with your spare time.
Put money aside as an investment
I use the micro-investing app, Acorns to save my spare change and invest it in a portfolio of stocks and bonds. The whole process is automated. And it's actually a great way to earn a little more off your money. Most people just put their money aside in a savings account. The problem is that these accounts pay zero or near zero interest. And thanks to inflation, your money is worth less and less each year. It's a stupid way to save.
Since I started using Acorns two years ago, I've seen a return of around 28%.
So if you're saving money for Christmas, don't just put it in a bank account. Save it using an investing app like Acorns.
You can sign up for Acorns here. It's free to try out.
Sell your old stuff
One of the most reliable ways to generate some quick cash is to sell things you no longer need. Go through your attic and pull out the things you are no longer using. Why let them collect dust when you could convert them into cash.
I always forget that I have frequent flyer points lying around. I accumulate these during the year for doing things like staying in hotels, ordering food through deliveroo, online shopping and of course flying. Usually the most valuable way to use these points is buy booking flights, but you can also use points to purchase gift cards or actual goods. So if you're a little short this christmas, check to see if you can do something with your frequent flyer points. It could really save you a lot.
Sell your skills on Fiverr
Fiverr is a website where you list services that you can complete for around $5. This could be installing wordpress, designing a logo, or recording a voice over. There are so many different things you can sell. While most things sell for $5, you can also charge more for longer more difficult projects.
Some people earn full time incomes on Fiverr.
You can browse through Fiverr here for inspiration.
Buy Some Cryptocurrency?
Last year the price of Bitcoin shot up over December. So if you had bought some around this time last year, and sold it before Christmas, you'd have made more than a little extra cash.
I don't know if cryptocurrency is going to go up again. If you can afford to take a little punt, then why not give it a try.
My favorite place to buy cryptocurrency is through Coinbase.
Start your own website
You might be leaving it a little late, if you wanted to start earning before Christmas. But there really is no better time than right now to start your own website. I make a full time income from blogging. If you can write lots of articles about your passions, then blogging is a great way to earn some income on the side.
And starting a blog is pretty cheap too. You can get started for as little as $4 through bluehost. They make it really easy to install wordpress and get started on your own blogging journey.
Try your hand at Trading
This is one for the more experienced. Trading is one of those special income sources that is entirely up to you. You don't have to rely on getting a job and keeping it. The better you perform as a trader, the more money you make. It's that simple. If you're new to trading then I would recommend taking a course or trying copytrading. There are even brokers that you give you free money to try trading.
What methods are you using to generate cash before Christmas? Let me know in the comments.
Disclaimer: eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.