Ask Kim
How to Make Extra Cash for the Holidays
Now's the perfect time of year to pick up some work. You could earn extra money and get an employee discount to take a big bite out of your gift-giving costs.
By Kimberly Lankford, Contributing Editor, Kiplinger's Personal Finance
November 22, 2004
I'm a stay-at-home mom and I'm considering getting a part-time job to help pay for the holidays. Do you think this is a good idea?
This can be the perfect time of year to pick up some work.
Many retailers, for example, hire extra help for the holiday rush between Thanksgiving and New Year's. You could earn some extra money and get an employee discount to take a big bite out of your gift-giving costs.
The experience can also help get your foot in the door if you're considering returning to work in that field in the future.
Some companies started hiring and training in early November, but it's still worthwhile to contact them now -- especially if you can start by Thanksgiving. Go to the mall with your résumés and talk with the managers in person. You can also apply for many temporary holiday jobs online -- check with the careers or job listing pages at the companies' Web sites, such as Macysjobs.com, which lists which Macy's store locations have holiday job openings, and contact local temp agencies and online job sites like Monster.com.
Even though most of the holiday jobs are in retail sales, other types of businesses have a holiday rush, too. Also consider restaurants, hotels and conference centers that host holiday parties, shipping companies, and companies that produce gourmet foods and specialty products, recommends Mike Worthington of ResumeDoctor.com.
Before you take a part-time job, though, make sure your child-care situation will be cost-effective -- which is easiest if you can work while your children are in school or at a time when your husband or other family members can take care of them. This might fit very well with a retail job, which tends to be most busy during the evenings and weekends. But first be realistic about the time commitment. Keep in mind that the holidays tend to be a super busy time already. Think carefully about whether you'll really have the extra time without adding a lot of stress to your life.
If it ends up being too difficult logistically to take on a new job during the holidays, make an extra effort to stretch the money you have by creating a holiday spending plan and sticking to it. Whatever you do, avoid over-using your credit card during the holidays, which can leave you paying off high-interest debt long after your relatives have forgotten about their gifts.