Earning Extra Money for the Holidays

   How do you make money in the holidays? Well, if you have a database, then I’ll speak to my entrepreneurial group that’s out there that have databases. Survey them. Put some social posts out there and say, what do you want me to talk about through the month of December, as we head into the holidays? Do you want holiday specials? Do they want some very specific packaging? Maybe you could put together some different ideas.

    For us, we put together tax strategies. How do you maximize the year before you kill yourself and don’t have 2022 taken care of? So, we do all sorts of cool extra things for our database. We give you benefits; we give bonuses, we give all sorts of value add. So, one of the campaigns we do is, Who Wants to Be a Millionaire? It’s a 30-day process. We start it on December 15, we go until January 5.

    We put out all sorts of ten percent specials. Ten percent off, if you have you know, the next thing that you want to buy. We’ll give a free this or free that. We have all sorts of fun things that you spin a wheel, and whatever you land on that day, and you can spin the wheel every day for 30 days and can win all sorts of stuff.

    Some of you will mine money if the form of what’s called Loral Bucks, where you can apply that to a new purchase, or maybe, you want to go buy a game, or maybe, you want to go buy the Make Your Kids Millionaires book. You can apply a percent off. So, we do campaigns and keep you active in our conversation, because you’re in the financial world, in the business world, is pivotal to how you’re going to pay taxes.

    So, just be out and be creative. What could you do to create scholarships? You could do gift cards, that could come in different forms of different gift cards that people could apply to your services or products for the next year. So, have fun inside your database, for those of you who have it.

    Now, let’s talk about in general. What do you do, and what can you do to make money? Here’s my favorite. I’m going to liken it to the never pay your kids an allowance, because I think this is the point you get your kids involved. As young as three and four, they’re going to want to buy gifts for their little friends, and they can make money too. So, I’d have it be a family deal.

    I’ve had families go out into the woods and cut down Christmas trees. They’re going to do that as a business for other people who don’t want to hike into the woods and get a natural tree.

    I have other families who will come and decorate your whole house. So, that way, they have two parts. They’re going to take them and put them up, and then they’re going to take them down. If you’re diligent, you become a distributor of a lot of those products, and you make a spread on the products. I have people who put up Christmas lights and take them down. You can become a personal shopper. Do someone’s Christmas cards. Do their year-end company calendars. There are so many things.

    So, here’s what I want you to do. In my model of never pay your kids an allowance, there’s a task sheet. Go grab a big piece of paper, and as a family, brainstorm or the things you guys could do together to make money, and then what you would charge them, which is a fun activity for the kids. You can send the kids to the Internet, and go look around, or send them out to a mall and ask, what do other people charge for this?

    I mean, you do you know how many kiosk stores there are that are making Christmas wreaths or doing little Christmas decorations, and then painting custom names on them? Your kids can do this stuff. They can make custom presents. You can eBay and sell a whole bunch of other stuff.

    So, make a list. Come up with how much money you want to make, and as a family, make an income goal. How much money do you want to make in the month of December? And, as you lead into January, remember there’s a lot that’s on the take down of all these holiday decorations, and transitioning into a real New Year. Snow removal. Big one if you’re in that kind of an area. My son did ski lessons for a long time.

    What else could you and your family do that’s family appropriate for you? Make a big list and come up with what your income goal is. You could do it as a family, or you could do it as individuals, that way everybody is participating, and everyone is having fun with it. Make some challenges with the kids. Who’s going to make the most money? And maybe they something extra as a fun bonus, and a competition bonus.

    There’s a ton of holiday ways to make money. But let’s talk about your home. What could you eBay to just do a little holiday cleansing? You could eBay, you can put up a Shopify store. I have a lot of clients who do custom promotional products. You could be a part of the whole ugly sweater thing, sell ugly Christmas sweaters to your family members. Make Christmas stockings for people.

    What else could you do to side hustle in the holidays and make extra money? So, again, I want you to make a task list for you and all your children. I want you to put prices of what you want to make, and how you could do it.

    Another category we haven’t talked a lot about is Amazon. Amazon still is a world leader in helping people make money. Now, there’s specific things, and you’re probably a little behind the eight ball, if you want to dropship. You still could go out and find some items that are dropshippable, as long as you can get them in for the holidays or, say you’re going to buy them for the holidays, they’ll receive them in January.

    You can be an affiliate marketer. You could join direct sales companies. Another option to make some money, for those of you that are creative and love to design things and customize things, is Etsy. You can start your own store. There are people making jewelry. There are people beading, painting, all sorts of custom things are made and sold out there. A lot of you clean out your closets before the holidays. Go out and Poshmark and put them on online stores. Put them in your local Facebook marketplace.

    The side hustles that I really like that I know people have made well into five figures, is putting up and taking down Christmas lights, and shoveling snow. Those of you that are younger, can babysit. What a great gift. Let mom and dad go, have a holiday dinner.

    What do you want to do to make more money for you and your family? And for some of you, I do want you thinking, how could you continue this as a side hustle, as you go into next year? What’s the first holiday up? You got Valentine’s Day, then you have St. Patty’s Day. Every month has a theme. I have a client who does themed decorations, and she makes millions selling all this stuff on the Internet. So, she’s on lots of stores, lots of avenues, and you buy it all from her.

    Even though this might just be a holiday thing, you need to be living a corporate life. So, living a corporate life means at least somebody in the family needs to have an LLC, S Corp, C Corp. If you just have a job, and you’re putting this money in a personal bank account, it will be taxable. So, when you put it inside a company, you get to do deductions. You can deduct your phones, a portion of your cars, computers. You can go on business trips. There’s so much bigger structure than just a side hustle, make a little money to spend a little money. Because a lot of you really aren’t thinking about the tax complications.

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