Now that it’s December, chances are, you’re probably going to be spending a lot of dough. Between buying gifts for your family and traveling home for the holidays, your bank statement is likely to take a plunge.
But while you might be spending more, you can also make a few smart moves to boost your bottom line. Here’s how to cut your losses for the month.
1. Consider safer stocks
If the stock market roller coaster is freaking you out, consider a low-volatility exchange-traded fund, or ETF. These funds own companies that tend to move less dramatically than the average stock. (Think AT&T and General Mills.) A good option: iShares MSCI USA Minimum Volatility ETF (USMV).
2. Turn your car into an ATM
Your next road trip could prove profitable thanks to the Roadie app, which connects drivers with people who need a package delivered. You’re going there anyway, so why not get paid for the trip?
3. Start cutting your taxes now
Before Jan. 1: Be sure to complete any charitable contributions, spend all the money in your flex medical spending account, and consider selling any taxable investments that are trading for less than you paid—you can reinvest the proceeds in a similar asset if you’re still bullish.
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