If the financial worries of Christmas are bringing you out in a seasonal sweat, then fret no more. In this time of austerity, it's easy to feel more like Scrooge than Santa, but if you're facing a credit crunch this December, here are a handful of ways to make a bit of extra money this holiday season.

Trade in Last Year's Gadgets
Christmas can be an expensive time with kids wanting the latest releases of everything. So, why not trade in old models to help with the costs? If you've got old mobile phones, computer consoles or laptops gathering dust in your home they can be traded in for cash this Christmas. Websites such as buymytronics.com or exchangemyphone.com are good places to start when it comes to discovering how much your items are worth.

Rent out Your House
Are you going to visit family for Christmas or New Year? If your home is going to be empty over this period you should consider renting it out? Airbnb is one such site where you can list your home for a short period. This could be a lucrative way to earn money over the holidays if you live in a popular city. Make sure that you check the terms of your lease and take steps to ensure your home will be safe. Going through a reputable company will go a long way in this regard.

Put in Extra Hours
Over the holidays, bars, shops and restaurants are often looking for extra staff. If you have the time, then maybe you could pick up extra hours that work around your current job. Perhaps you work in an office that closes for a week over Christmas. You could make the most of this downtime by getting a second job. If you're willing to work in a restaurant or bar on Christmas Eve, Boxing Day or New Year's Eve, you can expect the wage to be worth your while.

Get Cash Back
Although this may be of little help in time for this Christmas, putting all your Christmas (and other spending throughout the year) on a credit card that gives you cash back can be an easy and free way to make extra money. Some credit cards will pay a percentage of your spending back to you. Just be sure you always pay the balance on these cards off in full. If you don't it is a not a good deal at all.


If you're reluctant to take out a credit card, there are cash back sites that will give you a percentage of any online spending. Does this sounds too good to be true? Well, it's not. Cash back sites make money by referring you to other sites that you buy something on. To thank you for going from its website, the site shares this money with you. Many even offer bonus payments for referring a friend to the site. Topcashback.com is one such example. If you did all your spending through a cash back site or card over the next 12 months you could have several hundred dollars ready to spend for next Christmas.

Bake Your Way to the Bank
Are you skilled in the kitchen? Christmas cakes are difficult to make and take time that many of us do not have. So, if your Christmas cake is good, why not sell it to friends and neighbors? Be sure to price up the ingredients and include the cost of cooking them to ensure that it makes good business sense. Advertise your services to friends on social media sites and fliers in your neighborhood.

Smile for the Camera
Companies are always looking for pictures of happy families at Christmas. So, get photographs of the family around the tree, and then upload them onto a stock photo website where people pay to use your image. Fotolia and iStockphoto are two websites in which you can try and sell these photos.

The Bottom Line
Christmas can be an expensive time, but there are ways to make a few extra dollars, and with these tips, Christmas needn't break the bank after all.


Related Articles
  1. Your Clients

    New Year's Resolutions: How to Help Clients Adhere

    Clients setting new resolutions is one thing, but it can be hard to achieve financial goals for some people. Here's how advisors can help.
  2. Investing

    AirBnB Home-sharing is Good for the Planet

    New Airbnb study claims home-sharing is greener travel and can contribute to COP21 commitments for reduced GHG emissions in the United Stated and Europe.
  3. Investing

    5 Portfolio Ideas for 2016

    The Fed's zero interest rate policy is ending after seven years, the global economy is slowing and financial assets of all stripes aren’t entirely cheap.
  4. Budgeting

    Traveling to London on a Budget

    Discover three simple tips for traveling to London on a budget. Learn to minimize your biggest expenses so you do not have to miss out on the little things.
  5. Budgeting

    How to Talk to Your Family About Christmas Gift Budgets

    Talking Christmas gift budgets with family members can be hard, but having the talk will help you stay on track financially.
  6. Budgeting

    These Energy Saving Tips Are Like A Holiday Bonus

    You can enjoy the festive season without a jolly increase in your energy costs. We'll show you how.
  7. Stock Analysis

    Best Buy's Cyber Week: Can it Trump Cyber Monday?

    Best Buy has been one of the most up and down retailers over the years. It recently took an innovative step to improve performance. Will it work?
  8. Credit & Loans

    How To Minimize Holiday Debt Before It Happens

    Holiday expenses can drown you in debt. Find out how to avoid this festive spending hangover.
  9. Investing

    Expedia's New Buy Could be a Game Changer for Airbnb

    As P2P platforms revolutionize the hotel industry, older players must evolve to compete.
  10. Savings

    6 Ways to Save on Holiday Wine and Spirits

    Get started on your planning and spending now, so you are prepared when the holiday trifecta (Thanksgiving, Christmas and New Year) hits.
RELATED FAQS
  1. Is the retail sector also affected by seasonal factors?

    Generally speaking, the retail sector is highly seasonal. Almost invariably, sales in the retail sector are highest in the ... Read Full Answer >>
  2. What is the best way to budget for holiday and special event spending?

    Even though holidays and special events arrive sporadically throughout the year, you can still fight the costs associated ... Read Full Answer >>
Hot Definitions
  1. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  2. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
  3. Flight To Quality

    The action of investors moving their capital away from riskier investments to the safest possible investment vehicles. This ...
  4. Discouraged Worker

    A person who is eligible for employment and is able to work, but is currently unemployed and has not attempted to find employment ...
  5. Ponzimonium

    After Bernard Madoff's $65 billion Ponzi scheme was revealed, many new (smaller-scale) Ponzi schemers became exposed. Ponzimonium ...
  6. Quarterly Earnings Report

    A quarterly filing made by public companies to report their performance. Included in earnings reports are items such as net ...
Trading Center