5 ways to find extra money during the holidays
(BPT) - The holidays are here again. It’s that time of year when you get together with family and friends, take some time away from work and live out the definition of “it’s better to give than receive.” And, if you’re like many Americans, this is also the season when you give a little too much and find yourself over budget on your holiday spending.
Research from MagnifyMoney shows Americans incur $986 in additional debt throughout the holiday season, money they are then forced to pay off during the new year. If you’ve had problems with holiday-induced debt in the past and you’ve tried — and failed — to stem your holiday spending, take a different route this year and see if you can generate extra money to cover those increased holiday expenses. You can do it in a short period of time, so here are a few tips to get you started.
Clean house. As you’re picking up your house and getting ready for guests to come over, take a good look under the couch cushions for spare change, and don’t forget all those things you’re moving to the basement. Add up that spare change to put toward your holiday budget. And, could you move some of your possessions out the door instead? Craigslist, eBay and Facebook all make selling your old possessions easier than ever. And don’t forgo the traditional garage sale — one successful Saturday could give you the money you need to enjoy the holidays without debt concerns.
More money than you think. The money beneath your couch cushions may be worth more than you think. Research from Coinstar shows Americans, on average, believe they have $41 in spare change on hand. However, Coinstar's own nationwide kiosk data indicates the amount of spare change consumers have on hand is even more than that. Bring your spare coins to a Coinstar kiosk today and trade them for cash or no-fee eGift cards to retailers such as Amazon, Nike and Best Buy. On average, people cash in $68 when they convert their coins to no-fee eGift cards. Whether you keep the cards for yourself or give them as gifts is up to you.