Over the past year, many people cut vacation spending due to the state of the economy and the general uncertainty surrounding the pandemic. And given the circumstances, it made a lot of sense.
But this year, many consumers are preparing to spend more money in order to celebrate to the fullest with their loved ones. In a recent Discover poll, 51% of people said they plan to buy more gifts for the people they care about. Of those who intend to buy more gifts, 20% say they will spend $ 1,000 more or more.
Now, if you can afford to shell out an extra $ 1,000 or more over the holidays, go for it. The pandemic has taught us that it’s important to set priorities, and if yours involve living them while on vacation, so be it.
At the same time, the only thing you don’t want to do is spend so much extra money that you end up with vacation debt. Likewise, you don’t want to drain your savings account over the holidays because you need that safety net in an emergency. If you are keen to increase your vacation budget, it could be very beneficial to increase your income first.
Could a side activity be your ticket to the vacation season of your dreams?
If your regular paychecks don’t get you to spend what you want on vacation and you want to avoid getting into debt or over-dipping your savings, then a sideline might be a great solution. And if you are wondering if it is possible to earn an extra $ 1,000 during the holidays, the answer is yes.
Of course, in order to increase your income so much, you will first have to find a lucrative side business and then dedicate enough time to earn the money you want. But if you’re willing to make the effort, you might be pleasantly surprised at how much more purchasing power your sideline business gives you.
Imagine getting a job as a waiter at a local restaurant in the evenings and on weekends. You never know how generous customers can be on the tip front. Or, you can decide to drive for a carpooling service. If commuting to the airport keeps you busy while on vacation, which it can be, you could end up making several hundred dollars a week.
You can also find a side activity that you can do from home. If you’re a web design pro, for example, you can easily charge $ 50 or more per hour to update corporate websites. Put in 20 hours over the holiday season and it could net you $ 1,000 more.
Enjoy the holidays without getting into debt
If you are looking to be super generous this holiday season, or really celebrate in style, then a side activity might be your ticket to making these plans a reality without incurring negative financial consequences down the road. It’s worth exploring the different options you have for increasing your income with a side gig, whether you’re planning to increase your vacation spending by a large or small amount.