Decking the halls, gift giving and stuffing our bellies is standard practice for the holiday season. But when you are the person funding all the festivities, it’s important to keep a close eye on the final bill while still enjoying the moments.
Listen, the holiday season can be stressful with the excitement that comes from the hustle and bustle to score the perfect gifts right on time, and planning family trips. Starting now, let’s not allow our finances to contribute to the stress.
Keep reading to learn 5 ways you can save money this holiday season while keeping your cool.
#1: Set a budget
I can’t stress this enough – aimlessly spending is never the move. To avoid doing this, before purchasing anything, be clear on the amount you can comfortably afford to spend and pay back.
#2: Get a credit card with a 0% interest introductory rate
When it comes to using credit cards, be cognizant of the terms because they are not all created equal.
In case you don’t already have one, be sure the card or cards you use most are loaded with 0% APR upfront. For example, the Blue Cash Everyday®️ Card from American Express comes with a 0% APR on purchases for the first 15 months.
#3: Use the balance transfer feature
This benefit comes in handy when you realize one of your other cards has a better rate and you benefit more by using it.
Some credit card companies charge a fee to transfer your balance. So, while on the hunt for a new card, research which ones offer 0% on balance transfers.
#4: Redeem your rewards points and cash-back
The holiday season is the perfect time to redeem points and cash-back rewards you’ve earned throughout the year. This way, you can give great gifts without it costing you anything. Now this is my idea of more bang for your buck!
#5: Don’t overspend
At the end of the day, we all wish for a joyous holiday season filled with love and excitement for the opportunity to spend another year with those we adore most. However, we should not have to go into debt doing it.
The progress you’re making toward improving your finances is paying off. Be sure to keep this in mind to help prevent overspending. There is no need to let your credit score suffer to please anyone. Always remember to pay off your balances to avoid interest.
Shopping for the holidays is all fun and games, until you spend money that was reserved for something else. By planning for holiday spending, you’ll notice more green than red in your bank account. Ready to learn more of the best strategies that have helped thousands save money, pay off debt and travel for free? Flyy Credit University has everything you need. Start here: www.members.flyycredit.com