With some simple cost-cutting strategies, you can certainly save more than $1,000 in time to cover all your holiday costs. But you know what’s better than saving money? Making money.
While the amount you can save is limited, how much extra cash you bring home is really up to you. Of course, your income-generating capabilities may be hindered by the day only consisting of 24 hours and some of those hours being needed for sleeping and eating. Our popular slide show 29 Ways to Earn Extra Cash is packed with ideas, and here are four of our favorite ways to boost your earnings for at least a couple of months without cutting into your beauty rest.
1. Adjust your tax withholding
Three out of every four American workers receive a tax refund from Uncle Sam in the spring, and the average refund these days is about $3,000. Nine months into 2015, you’ve probably already banked a healthy refund for next spring if your financial situation remains unchanged from 2014. Adjust your tax withholding now, and take home more money starting on your next payday. Just fill out a new W-4 form with your employer to claim extra allowances.
Based on that average refund of $3,000, you could pocket $250 more every month for the rest of the year. Visit our easy-to-use withholding calculator to determine how many allowances to take to bring withholding in line with what you actually owe—and how much your paycheck will jump as a result.
Two months of earnings: $500
2. Sell unwanted electronics
After you upgrade to the latest new gadget, don’t discard or forget about your old toys. You can sell used cell phones, tablets, computers and other devices through resale sites such as uSell, Gazelle and NextWorth. These businesses even buy damaged goods, though products in mint condition obviously fetch the best prices.
For example, perhaps you’ve upgraded to an iPhone6 or 6S—and still have your old 5S model in a junk drawer now. NextWorth will pay as much as $170 for it.
Two months of earnings: $170+