The big question for a lot of us is where to find that extra cash, so that you can save it.
You probably have lots of things in your home that you can sell or rent to get some quick cash.
Got a drawer full of old cell phones? Go to Usell.com, enter the descriptions and you can find out how much you'll be able to get. Recent offers for used iPhone Fours ranged from $100 to $140 dollars.
You can also sell used books and DVDs. Amazon does the heaviest volume in these items, so you'll probably find a quick buyer there, but there are other sites that buy these items as well, so you'll want to check out a few to get the best offers. Among them CKY Books, Cash4Books, and SellUsedBooks.com.
You can also sell gift cards that you might've gotten for the holidays. Sites like Cardcash, Giftcard Granny and Cardpool are all reliable and in some cases will send you cash for your gift cards within just a day or two.
Finally, clean out the closets. Consignment shops are one option -- though it may take a few months to get your money. But other local stores like Buffalo Exchange, Once Upon a Child and Plato's Closet will sort through your items and give you cash on the spot.
You may even be able to sell items as unusual as wine corks or toilet paper rolls to crafters who buy them in bulk on sites like Etsy.