Wouldn’t it be sweet to make an extra payment on your mortgage this holiday season? Don’t skip out on these temporary side jobs that can help you make extra cash. Learn more in this U.S News article by Megan Wild. Who knows, you might also score some extra cash for additional Christmas shopping.
Any additional money you can pay on your mortgage helps you pay it off faster and saves you money on interest. If you owe $200,000, paying just one extra payment every year allows you to pay off the loan in 26 years, saving you thousands of dollars.
The simplest way to achieve this is to pick up seasonal work during the holidays, when many companies and individuals need an extra hand. Here are seven holiday side hustles that will allow you to make an extra payment before year’s end.
1. Start a Decorating Business
Are you particularly skilled at decorating for Christmas? If your decorations look more elegant than elementary, you can start a side business decorating for parties, companies and busy professionals who don’t have time to deck out their own homes.
2. Retail Job
During the busy holiday season, businesses need additional people to cover the massive influx of shoppers. For example, Kohl’s reportedly hired about 69,000 seasonal workers last year. An added perk is that most of these retailers offer a discount, so you can also save a little on your own Christmas shopping and put that money toward paying off your mortgage.
3. Airbnb Rentals
If you have an extra room or small garage apartment, you can rent out space for the holidays to another family. Many people love to escape for a few days during the holiday season or soon after. The kids are out of a school for a few weeks, and many industries can take some time off this time of year. If you have a home in a tourist area, such as near the beach, so much the better.
4. Uber or Lyft Driver
Another thing you can do for extra money to pay off your mortgage is to sign up to be an Uber or Lyft driver. You can choose to work when you want and take the fares you want. You’ll be more likely to get steady fares if you live near a bigger city, but it’s still a good way to make those extra funds without making a long-term commitment.