As inflation casts a shadow over the festive spirit, more than 50% of Americans intend to curtail their holiday spending.
Research by Klarna shows that 53% of American consumers plan to purchase budget-friendly holiday items. Additionally, 28% of millennials and 26% of Gen Zers and Gen Xers are considering selling or trading items to finance holiday expenses.
These findings underscore the growing impact of inflation on consumer behavior, even during the traditionally high-spending holiday season.
As a finance expert at Mrs Daaku Studio, I spent four days trying out different ways to make money in one day to cover a few expenses during this season.
Take A Survey
Surveys are easy. They’re unlike any other way to make money from home. People get paid to take surveys, play games, watch movies, or test a product. While the individual payouts may be modest, you can increase your earnings by participating in multiple surveys and taking advantage of bonus opportunities.
Many reputable survey sites offer instant cash payouts, allowing you to access your earnings immediately.
I have used Swagbucks for a long time and made a few hundred dollars over a few years. However, after spending a day on Swagbucks, I couldn’t even make 1000SB, which equals $10.
Similar to survey sites, there are gaming sites that also pay. Michael, a finance expert at Wealth of Geeks, says, “I recently tried Gamehag to see how much money I could make with sites that pay you to play games. I managed to earn a $25 dollar prepaid Mastercard by signing up for a few bonus offers, such as installing the Capital One shopping extension and playing a few games.”
“It was fun playing some games,” he continues. “However, it took nearly five hours to make $25 — not even minimum wage.”
Result: Not Recommended. I do not recommend using apps to make money in one day. If you spend a few minutes every day, coupled with a referral strategy, you can make some money in the long term.
Sell Unused Items
Selling items from home can be a quick and efficient way to make money in a single day. Numerous online platforms, such as Facebook Marketplace, eBay, and Craigslist allow you to quickly list and sell a wide range of products, from unused electronics to gently worn clothing.
Instead of using the apps to make money the same day, I decided to spread the word using local channels, telegram groups, and word of mouth. I offered furniture items like a center table, a side table, and old books for sale. I successfully sold a piece of furniture and educational books, earning more than $60.
Anika Jindal, CPA and finance expert at What Anika Says, shares her experience selling an unused DSLR camera online. She says, “There are many ways to make money without a job; I decided to sell unused items from home. We had one camera at home for five years, and I finally listed it on Facebook Marketplace and, within a day, sold it for $200. It was a quick win and a great way to declutter your home”.
Result: Recommended. If you need money quickly, selling items you no longer use can be a winner.
Rent Out A Room
Renting a spare room in your house can quickly generate extra income in a single day. Platforms like Airbnb and Vrbo enable you to list your room for short-term rentals, catering to travelers seeking affordable accommodations.
When I started listing a room on Airbnb, I could not finish it quickly. It needs verification, and it takes time.
In the meantime, I contacted friends and families to book a room on any future date. Someone with a wedding at their place wanted a room for their guest, which was reserved for $50.
Result: Recommended. It is worth listing a room on your property on Airbnb, getting it verified, and opening it for booking when you need extra cash. If you cannot wait, spread the news to the neighborhood, friends, and family so they know an affordable room is available for their guests during the holiday season.
Sell Baked Goods
Whether you're a seasoned baker or just starting, there are numerous opportunities to share your culinary creations.
Baking treats such as cookies, cakes, and pastries, and offering them at local farmers' markets, community events, or online platforms, can turn your passion for baking into a profitable venture.
During the festive season, I usually let friends or family prebook cakes for birthdays, Christmas, gifts, etc. This year, I have already pre-booked three cakes and sold two, making a profit.
Result: Recommended. Whether you're a seasoned baker or just starting out, there are numerous opportunities to bake and sell your goods. If you’re artsy, you can also look into selling holiday crafts now.
What Have Other People Tried?
I contacted other finance experts who have experimented with the most recommended ways to make extra cash.
Michael from Wealth of Geeks says, “If I needed a side hustle to make money in a day, I would stick with freelance writing, where I can make $150 to $250 per assignment. Most bigger outlets take 30 or more days to pay an invoice. However, smaller blogs pay within a few days via PayPal.”
I’ve tried it, and like Michael says, it’s worth pursuing. You can check out freelancing job boards like ProBlogger BloggingPro or join Facebook Groups like The Insiders.
Caitriona of TPR Teaching says, “As an English speaker, I knew there was an opportunity to teach the language skills I already have and that people would be willing to learn from me.”
She explains, “Cambly, an online platform that connects English learners with native speakers, proved to be a good side hustle for me. I set up my profile, started taking calls, and within a day, I was earning. Since you get paid per minute of tutoring, and the platform is available 24/7, I could work as much or as little as I liked. On my first day, I worked for about five hours and made close to $50.
Food delivery jobs can be very lucrative during the festive season due to the increased demand for food delivery services.
Jason, from My Money Chronicles, says, “I did DoorDash and UberEats in the past. I probably made about $30 to $35 an hour. I got paid once a week. You can get paid daily using fast pay, but that comes at a fee. If someone wanted to start today, driving would take 5-7 days due to having to pass a background check.”
What Are You Doing This Season?
While there are many ways to make money quickly, the key to success is to research and choose a method that is in demand and that interests you. You can turn many money-making opportunities into profitable ventures by identifying your strengths and utilizing available resources.
This article was produced and syndicated by Wealth of Geeks.