Sense & Centsibility Blog

Twitter Thursday: Make Extra Cash for the Holidays

Money jarThis Thursday's Twitter Chat with Experian focused on hustling for extra cash this holiday season! In addition to Experian's questions, we also have some suggestions for excellent side hustles for the holidays or year round.

Ways to Hustle and Make Extra Cash for the Holidays Twitter Chat

Q1: How can you get started on finding a side hustle?

A1: Google is a great place to start, but beware of scams. You should not have to pay out money to start a business.

Q2: What are some popular side hustles?

A2: Pick up overtime, nab a holiday retail gig, Uber/Lyft driver, make and sell art/crafts, or sell used items.

Q3: How do you figure out how much to charge for your services/products?

A3: Compare online (Craigslist/Etsy, etc.) or in the newspaper for similar services/products.

Q4: Would a side hustle affect your taxes?

A4: It depends on the job and if you are required to report it to the IRS. You can get into trouble if you don’t report income! Keep track of all income for tax time to be absolutely certain.

Q5: Are there resources you can use to learn new side hustles?

A5: Depends on what you’re trying to learn! Want to learn a crafty skill and sell online or at job fairs? YouTube and practice.

Q6: How can you juggle your day job and a side hustle?

A6: Focus on your goals. Remember – side hustles are typically a temporary means to an end!

Q7: Can a side hustle get you out of debt?

7.A7: Absolutely! Many people look to temporary cash influxes to eliminate debt.

Q8: How much money can you make from a side job?

A8: That depends upon how much time and effort you have to put into it plus the perceived value of your service/product.

Q9: Should you open up a separate bank account for your side hustle income?

A9: Having a separate savings account is always a good idea so you don’t spend your savings. If it's an actual business earning revenue, a separate account will make it easier for tracking income and expenses.

Q10: Any final tips on ways to hustle and make extra cash for the holidays?

A10: If you are motivated and have clear goals, you can make it happen!

Our Top 10 Ideas to Earn Extra Holiday Cash

1.  Take on a part-time job - retail stores are always looking for extra help during the holidays!

2.  Donate plasma – save a life!

3.  Become an Uber/Lyft driver

4.  Utilize your talents and skills to sell your services or completed projects

5.  Teach an adult education or fitness class

6.  Garage sale online

7.  Sell clothing on consignment or second hand store

8.  Personal shopper for groceries or gifts

9.  House or pet sit

10. Babysit so parents can shop or attend holiday parties

Answers to the Twitter Chat were provided by LSS Financial Counselor Marjorie Klimek and Marketing Specialist Tracie Fauth.