5 easy ways to make quick cash just in time for Christmas spending surge

As the festive season draws near, the cost of living crisis is already tightening its grip on households. Current data indicates that two-thirds of Britons are preparing to allocate the same amount or even more for presents compared to the previous year, despite the financial challenges. TSB Bank's statistics suggest that the average UK resident expects to shell out around GBP315 on gifts in December, with 42% having earmarked savings specifically for this purpose.

Additionally, a third of the population is considering alternative strategies such as taking on additional work or selling items on platforms like Vinted to cover Christmas[1] costs. To alleviate some of the financial pressure, Olamide Majekodunmi, the financial guru and creator of All Things Money, has offered a number of swift and smart tactics to bolster your funds ahead of the Christmas expenditure spike. Here are Ola's rapid tips for enhancing your holiday budget.

Sell old items online

"Got old stuff lying around?

Turns out you could be sitting on cash without even knowing it," Ola advises. "With the holiday season fast approaching online platforms like eBay, Vinted, and Facebook Marketplace offer quick and convenient ways to make a quick sale - all from the comfort of your own home."

Earn cashback

For those facing a lengthy gift list this year, Ola suggests stretching your budget by earning as you shop. Utilising cashback websites could see you recouping up to GBP100 on your festive purchases, reports the Mirror[2].

She suggested using apps that offer extra cash when you shop at specific retailers, which can quickly add up during the Christmas shopping spree. She stated: "You can even earn money on your food shop, by using a Christmas saver card with your local supermarket, locking money away through every shop, to earn a bonus at Christmas time - so all that spending between now and December won't go to waste."

Rent out parking space

If you have spare space on your drive or in your garage, you could be sitting on a goldmine. Renting out that space through platforms like JustPark or YourParkingSpace could be an easy way to make some extra cash to cover your Christmas expenses.

If you've been considering a change in car - December can be an ideal time. Many buyers are on the lookout for deals before the new year, and sellers can benefit from this demand, Ola says. To make the most of the end of the year, consider selling your car with an easy platform like Motorway.

In three simple steps, you can earn an average of GBP1,600 more than the traditional part-exchange process, all from the comfort of your own driveway. "With its speedy online service, selling with Motorway allows you to receive the cash from your sale once your car is collected, ready for the Christmas splurge," she said. .

Make extra cash with receipt scanning

"Receipt scanning apps like Shoppix and SnapMyEats can turn your shopping receipts into small rewards," Ola stated. "Simply snap a photo of your receipt and upload it - you'll earn money, points, or gift cards in exchange." "Some apps even offer bonus opportunities for different purchases or special promotions, making it easy to collect rewards quickly.

It's a simple step that can add up fast and give your Christmas pot a little boost."

References

1. ^ Christmas (www.chroniclelive.co.uk)
2. ^ the Mirror (www.mirror.co.uk)