Christmas is a magical time of year. But, with gifts to buy, party outfits to purchase, and cupboards to stock up with food and drink, it’s easy for your spending to spike. And, this increased stress on bank balances can have a nasty hangover effect in the New Year, with an estimated 7.9 million people in the UK falling behind financially, according to figures from the Money Advice Trust.
So, with December just around the corner, it’s an excellent idea to boost your cash in advance of all the festive spending. To help you out, we’ve come up with five easy ways to give your bank balance a healthy increase so that Christmas is a bit more affordable this year.
Have a pre-Christmas clear out – Ever returned home with an armful of lovely festive gifts, only to wonder just where you’re going to put them? If the answer is yes, it might be a good idea to have a pre-Christmas clear to not only free up some space, but earn some extra cash, too. You might be surprised by what pre-owned goods people will pay good money for. And, with more online selling options than ever before, it’s easy to sell your belongings quickly and conveniently. Try listing items on marketplace sites like eBay, Gumtree, and Craigslist, or go for a specialist site, like Depop for your clothes or Hatton Garden Metals for precious metals and jewellery.
Make use of cashback when gift buying – When it comes to shopping for Christmas presents for your loved ones, be sure to take advantage of cashback sites, such as TopCashback and QuidCo, to earn as you spend. These websites work by paying out a percentage of the price when something is bought through one of their affiliate links. Funds that you earn are usually added to an account balance but can easily be withdrawn to your bank account at your leisure.
Learn how to earn with matched betting – Even if you’re not a gambler or sports fanatic, there’s the opportunity to earn an extra income for Christmas through matched betting, a technique that has almost no risk attached to it. This type of betting makes the most of free bet offers from bookies, turning these into actual cash. And, because this money is still classed as winnings, you don’t need to pay tax on them. There is a small learning curve to organising and placing your bets to get best out of your money, but this can be remedied with the right advice, such as this beginner’s guide from OddsMonkey. It is also worth mentioning that you will need to put some cash into a starting pot to get going, but you’ll soon find that you’re making a tidy profit.
Share your opinion for money – Another way to boost your income before Christmas is to sign up with a service that offers payment for responding to surveys on a variety of topics. While the fee for completing just one isn’t huge, it can quickly add up once you’re answering a few per day — ideal if you’ve got some spare time. There is quite a wide selection of genuine websites you can register with: take a look at MySurvey, Toluna, and Swagbucks to begin with. MoneySavingExpert have a more extensive list of the top survey sites if you want to increase the number of opportunities that are being sent your way.
Use your spare parking space to bring in cash – With city and town centres getting busier and busier, there’s some extra money to be made by renting out an allocated space on your driveway. This idea obviously hinges on how close your property is to a desirable area, but if you’re within range, it’s a great idea for making some extra Christmas cash. And, there are even dedicated websites to help you advertise and rent out your parking space. Take a look at JustPark and yourparkingspace, which are two of the best and most widely used. This idea can also be tax efficient by taking advantage of the Government’s property allowance, which allows you to earn up to £1,000 tax-free each year.
There you have it: five easy ways to boost your income before Christmas and make all that gift-giving and party-going more affordable. Give our tips a try and your festive experience this year will be much improved.