With the holiday season approaching, many people are considering their gift-giving plans. One way to save money on holiday purchases is to use a credit card with more rewards or benefits when you shop at certain stores or in specific categories. Before you start shopping, it’s a good idea to check if any of the stores on your credit card’s benefits list carry the gifts you want to buy. This can help you maximize savings and get the most out of your cards.
Additionally, you can use travel rewards or cash-back credit cards if you’re traveling during the holiday season. If your purchases are stolen, damaged, or broken, it will help you earn even more rewards or cash back.
How To Save Money This Holiday Season
Look Out For Introduction Bonuses
Credit card companies will offer rewards and discounts to attract new customers. Especially during the holiday season. Consider getting a credit card with an introductory bonus. This can help you earn significant cash back on your holiday spending. Keep an eye out for special offers and promotions from credit card companies in the lead-up to the holiday season to take advantage of these opportunities and save money on your holiday purchases.
Look For Credit Card Protection On Your Purchases
Checking if your credit card offers extra purchase protection or extended warranty coverage on certain products is a good idea when shopping for holiday gifts. This can provide more peace of mind and save money.
For example, if a gift you bought becomes faulty after the manufacturer’s warranty period has ended, your credit card provider may cover it. To take advantage of these benefits, contact your credit card issuer to find out what protections are included with your card and how to use them. This can help you save money and avoid hassle during the holiday season.
Track Your Spending Using Your Credit Card
To avoid overspending during the holiday season, it’s essential to set a budget and stick to it. One way to do this is by using a credit card and tracking your transactions online or through the card issuer’s app. This can help you stay on top of your spending and avoid making impulse purchases that could push you over budget. By setting a holiday spending budget and using your credit card to track your purchases, you can ensure that you stay within your means and avoid financial stress during the holiday season.
Make Sure To Pay Your Credit Card Bills On Time
Avoiding incurring interest and late fees is important when trying to save money during the holiday season. Paying your credit card bills in full and on time makes this a reality. By making timely payments, you can ensure that you are only paying for what you have purchased rather than additional fees and charges. This can help you avoid financial stress and maintain good credit health. It’s a good idea to set up automatic payments for your credit card bills or to schedule reminders to help you stay on top of your expenses and avoid any potential penalties.
When it comes to Christmas morning, you want to enjoy the morning instead of worrying about the bills.
How Not To Save Money When Christmas Shopping
Don’t Spend More Than You Can Afford To Repay
Using a credit card can make it easy to overspend and end up in debt, especially during the holiday season when purchases can add up quickly. It is essential to set a budget and stick to it when using a credit card. This can help you only spend what you can afford and prevent you from having a poor credit score.
Additionally, paying your credit card bills in full and on time is crucial to avoid interest and late fees. By staying within your budget and making timely payments, you can use your credit card responsibly and avoid financial stress during the holiday season.
Make Your Payments On Time
Paying your credit card bill in full and on time is crucial to avoid incurring interest and late fees and keep your good credit score. If you cannot pay your account in full, it’s essential to at least make the minimum payment on time to avoid late fees.
Additionally, it’s a good idea to set up automatic payments for your credit card bill or to schedule reminders to help you stay on top of your payments and avoid potential penalties. You can avoid financial stress and maintain good credit health by being responsible with your credit card payments.
Don’t Forget How Much You’ve Spent During The Holidays
It’s important to track your expenses and ensure they are within your budget. One way to do this is by using your online banking or credit card apps to track your spending in real time. You can also create a spreadsheet to track your credit card spending and ensure you stay within your limit. By keeping a close eye on your spending and staying within your budget, you can avoid financial stress and enjoy the holiday season without worrying about money.
The holidays should be about generosity but make sure it doesn’t get you into financial difficulty. Follow our top tips, and you’ll be ready to go.