The holidays are upon us. In addition to having enjoyed a Thanksgiving feast and ringing in the New Year, this means that many people are planning to buy gifts for their loved ones. Given the persistent negative state of the economy, however, some gift-giving budgets are stretched thin. If yours is among them, have hope. There are ways you can squeeze some extra holiday spirit out of your budget -- both now and over the next months.
1) Save your pennies (and nickels, dimes and quarters).
Buy with cash instead of credit. Then, at the end of the day, collect your change in a jar. Later, turn in the coins at a coin-counting machine. Either use the cash you've accumulated to buy holiday gifts or, if the machine offers gift cards instead of cash back, use those for holiday shopping. Paying in cash provides another benefit, too. Some studies show that people who pay in cash instead of with credit cards can spend up to 15 percent less.
2) Use office amenities.
Instead of buying coffee on the way to work, drink the coffee available at the office if that is available. Visit the water cooler instead of buying bottled water or soda. The measures may sound small, but try it between now and the end of year, and you'll be surprised at how the savings add up.
3) Bike, bus or carpool.
Save money on gas and parking and instead make a concerted effort to carpool, use public transit, or walk or bike to work.
4) Pare down TV costs.
Cancel cable or satellite television. It may not be as drastic as you think. If you have an HDTV, you probably receive several local channels in high definition without cable. Try Netflix (including streaming content if you have a game system with WiFi), rent DVDs at a Redbox or similar kiosk, or check out DVDs from the library.
5) Sell unneeded items.
Inventory your belongings and see if there is anything you no longer use or want. Items like bicycles and high-end toys, for instance, in good condition can bring a good return. Try selling locally on Craigslist (listings are free and you will not need to ship). Or advertise shippable items on eBay or Amazon.com. As with any online service, beware of scams. Use reputable payment and shipping methods to stay safe.
6) Try mystery shopping.
If you have some spare time and you are organized, legitimate mystery shopping companies can put some extra money in your wallet. Mystery shoppers visit or call a business and then report on the experience. Usually, shoppers must write a report on their experience to be paid. Note that while mystery shoppers sometimes must make a small purchase out of pocket as part of the shopping trip, and then be reimbursed, true mystery shopping companies are free to join.
7) Earn from your talents.
Do you have a creative hobby? Sell your items at a craft fair, or via online services such as Etsy, Artfire, Jewelry Wonder, eBay or Craigslist. For example, photographers can make 25 cents every time someone downloads their photographs from Shutterstock. Creative thinkers could also try a website like Fiverr, where people offer just about any service for $5.
8) Turn computer time into cash.
The Internet provides many legitimate opportunities to earn. Working with online survey sites can pay a few dollars, and Amazon's Mechanical Turk site has people complete simple tasks for a few cents at a time (which can add up quickly). If you have a habit of surfing the Net while your kids are watching TV, turn that time into income generation. As always, watch for scammers! Search a site's reputation before you give any personal information or download any files. Remember: Anything that sounds too good to be true probably is.
9) Sell back textbooks.
If you are a recent graduate, sell your unused textbooks before they get old. Newer books can generate a good return. Try sites like eCampus or textbooksrus.com, or sell directly to someone at your school.
10) Drum up extra work.
The workforce is tight these days, but opportunities remain. Try tutoring or teaching a language, if you have the skills. Or apply for work-from-home customer service jobs. During the holidays, neighbors and acquaintances might need help with house sitting, pet sitting, dog walking, house cleaning, hanging holiday lights or shoveling snow. If you are computer savvy, offer to help friends and family with website design, virus removal or cleaning up a hard drive.
11) Ask about price-matching.
Some merchants match or beat a competitor's prices. Others accept competitors' coupons. This is especially helpful if you find a good price online. Ask a local retailer if they can match or beat an online price -- you might get the great price and also cut out shipping costs.
12) Ship early.
If your holiday plans including sending gifts to far-away friends and family, remember shipping can add up, especially at the last minute. Save on shipping costs by shopping earlier so you can ship via economy services or take advantage of sites that offer free shipping with plenty of lead time.
Over the next weeks, extra income can help make the holidays a little brighter for you and your family, as well as the charitable causes you support. And after the holidays, try to keep up some of the above habits and use the extra dollars to help pay off debt or build a nest egg, and make the rest of the year less stressful.
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