Americans spend an average of $831 on Christmas each year. However, because of inflation, approximately 56% of 2023 holiday shoppers won’t be able to buy as many gifts as they’d like to this year.
A report by Nerd Wallet on holiday shopping reveals that nearly two in five shoppers feel pressure to spend more on holiday gifts than they’re comfortable spending, and 12% say they’ll likely need some of their emergency savings to buy holiday gifts this year.
Holiday Shoppers Financial Struggle
The report reveals that 52% of Americans incurred credit card debt when shopping last holiday season, and nearly a third still need to pay off these balances. Despite this, 74% of shoppers plan to use credit cards to buy gifts.
Inflation, on the other hand, adds to the problem. The report reveals that more than 56% of shoppers won’t be able to buy as many gifts as they’d like this year due to inflation. To deal with this, shoppers have decided to spend less, shop at local businesses, and cut back as much as possible.
As prices rise and debt lingers, the holidays can strain finances. Many side hustles can reduce this burden and let Americans enjoy the festive spirit without worry.
Find Odd Jobs
Odd jobs, big or small, can help a Christmas budget stand tall. From hanging lights to decorating houses and trees, shoveling snow, cleaning, and wrapping gifts, there are many odd jobs available to earn extra money. Contact neighbors to inform them about your services, or look on apps like Taskrabbit.
“I clean houses for extra Christmas cash. It’s hard work, but it’s nice to know I have the extra money going into the holidays and don’t have to stress over whether to pay bills or give my kid a good Christmas”, shares Tiffany of Gracious Pantry.
Sell Handmade Crafts
Americans spend as much as $231 on decorations every Christmas. With inflation, holiday shoppers have also shown interest in shopping from local businesses. It’s possible to seize this opportunity to sell handmade Christmas crafts, including ornaments, wreaths, sock crafts, hairbrows, wooden signs, etc. Owners of an online business can offer personalized calendars, stickers, cards, etc.
With the increased demand for online shopping and last-minute gifts, capitalize on the festive rush. Whether delivering packages, groceries, or even meals, delivery gig offers can help earn extra income while helping people celebrate the holidays hassle-free. Look for positions with Uber Eats, Postmates, Instacart, Amazon, etc.
Sell Baked Goods
Transform a love for baking into a rewarding side hustle and boost income by selling delicious homemade Christmas treats. The demand for freshly baked goods, including gingerbread cookies and festive fruitcakes, is always high.
“One year, I took up making decorated sugar cookies as a hobby and had so many people asking to order that I turned it into a side hustle to earn extra money to pay for Christmas gifts. I worked much harder than initially intended since I received so many holiday orders. Still, it was beneficial in lessening our burden for the holiday season,” shares Kristin Stones, Cents + Purpose.
Sell Christmas Trees
There are approximately 25 million real Christmas trees sold every year. Whether it’s a small batch in a backyard or a partnership with local tree farms, selling beautiful, fragrant Christmas trees is a legitimate side hustle to earn extra cash.
“I sold Christmas trees one year and found it highly satisfying. Being my non-career job relieved stress and allowed me to connect with the people. Plus, it got me in the spirit, and the place I worked let me take a tree home. My compensation was based on commission, and it shocked me how much I made…not only did customers buy the trees, but some would come in and spend hundreds on decorating a tree with a specific theme. I even had one customer buy ten trees plus ornaments for each so she could put a different themed tree in each room. This one-month gig covered my costs for travel to see family and gifts for all!” shares Corey T, owner at FurBallFun.
Rent Existing Assets
If there’s no time to take on additional work, you can still make your existing assets work for you. Individuals can rent practically anything, from a room on Airbnb or VBRO to renting out a pool, backyard, tennis/pickleball courts, hot tubs, or more on Swimply.
Start Now And Celebrate A Stress-Free Holiday
The holiday season can be financially stressful, especially with rising inflation and lingering debts from last season. To earn extra money for Christmas, consider one of these side hustles. With a little effort, it’s possible to reduce the financial burden of the holidays and enjoy a more stress-free and joyful season.
This article was produced and syndicated by Wealth of Geeks.