No Year-End Bonus? 3 Ways to Squeeze Out Extra Cash

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You still have options for getting your hands on more money at the end of the year. 

Some companies give a year-end bonus to every single person on staff, regardless of performance. Others reserve year-end bonuses for those who go above and beyond to exceed expectations.

But it may be the case that your company isn’t giving out year-end bonuses this December. Maybe money has gotten tight and your employer wants to conserve funds, especially with warnings of a potential recession in 2023. Or maybe your employer has never really upheld the practice of giving out year-end bonuses, and this year is no exception.

If that’s the case, you may be bummed out that you won’t have an influx of cash to spend as you wish or stick in your savings account. But that doesn’t mean you can’t scrounge up extra money this month. Here are a few things you can do to take the place of a year-end bonus.

1. Pick up a side hustle

Although we’re already deep in the throes of the holiday season, many businesses are still looking for temporary help to assist with an uptick in customer traffic. If you’re willing to work a side hustle for a few weeks, you might manage to earn the equivalent of the year-end bonus you were expecting.

Not sure where to find a side gig? Start by searching your town’s social media page. Local businesses might advertise there if they need temporary help.

Otherwise, walk around, stop in, and ask small business owners in your neck of the woods if they could use more assistance. Chances are, someone will say yes.

2. Do a home cleanout and sell things you no longer need

There are probably some items sitting in your basement, garage, or closet that you no longer have a use for. These might include pieces of furniture, electronics, clothing, or sports and fitness equipment.

If you’re willing to put in a little time, you can try selling these items for cash to take the place of a year-end bonus. Once again, your town’s social media site may be a good source for listing larger items you can’t easily ship out or stick in the mail. For smaller, more portable items, you can try sites like eBay.

3. Sell unwanted holiday gifts

For better or worse, there’s a chance you’ll get at least a few gifts this holiday season that just aren’t your taste. Rather than let those unwanted gifts collect dust in a corner, sell them. You can also try selling gift cards you’ve received but don’t have much of a use for. And while you may need to offer them at a discount, getting $45 for a $50 gift card is better than keeping a $50 gift card you aren’t going to use.

If you worked your hardest for the past 12 months and were expecting a nice bonus as a result, not getting one could be a big blow, and understandably so. But the good news is that you can still find ways to eke out more money at the tail end of the year.

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