Published on 12-12-2019
Categories: Member Tips
Ah, the holidays. We get to spend time with family and friends, eat delicious food, check out all the festive decorations, and ring in the new year. But the season can also be a drain on your wallet.
Check out these holiday spending tips to help keep your head above water!
1) Make a List of Your Holiday Expenses
Budgeting is important for managing your expenses in general...and the holiday season is no exception! Create a list of anticipated expenses such as gifts, travel costs, restaurant bills, wrapping paper, decorations, groceries, and more.
2) Adjust Your Budget
After making your list, determine how much money you'd like to assign to each category. Think about putting money aside throughout the year and keep an eye out for sales. You can find extra spending money by shifting disposable income from other areas.
3) Take Advantage of Rewards
If you've been earning cash back on your purchases throughout the year, you could have some extra money on your credit card statement come December. You can also hold on to your credit card reward points and wait to use them at the start of the season.
4) Treat Your Credit Card Like a Debit Card
It can be easy to overspend and build up debt during the holidays, so it's best to steer clear of paying for last season's gifts in the new year. Try to treat your credit card like a debit card. Keep the balance at zero!