While the holidays represent a time of joy, family, and togetherness, for many, they can also bring about stress – particularly when it comes to shopping and personal finances. But holiday shopping doesn’t have to be a burden; in fact, there are numerous ways you can actually reap benefits from it.
Before stressing about the impending expenses of this upcoming holiday season, take into consideration three tips that can help you make the most of your holiday shopping experience:
- Plan Ahead - The holidays present an opportunity for impulse buys to creep into our shopping outings – but if you plan ahead, you’ll have a convenient holiday shopping roadmap to steer you in the right direction. Lists can include everything from gifts and travel plans to expenses for food and decoration. Make a list, check it twice and shop knowing you’ve planned ahead to find the right price.
- Reward Yourself and Your Bank Account - If you have several credit cards with rewards programs, figure out which card offers the best cash back bonus or holiday bonus rewards and consider making your holiday purchases, or paying off the remaining expenses, with that card. Before you know it, the rewards will pile up quickly and your holiday shopping expenses will be a thing of the past.
- Pay Down that Holiday Balance - When reaping rewards from one of your credit cards, don’t forget that those rewards will go to waste if their value is offset by interest from your remaining payments. It’s very important, therefore, to make sure you pay your balance before interest kicks in. When the holidays have passed, make it a top priority to pay off that holiday spending as soon as possible.
Holiday spending doesn’t need to be associated with a time of stress and financial worry. Consider instituting these three tips into your holiday spending routine and make the most of it this year.