There may not be actual statistics out on this train of thought, but most of us spend way too much of our hard-earned money during the holiday season. It’s not hard to do! Studies have shown that the average consumer is likely to spend $967.13 on holiday expenses alone this year. For many of us, that is a whole paycheck!
For some, struggling to pay for Christmas presents and food can put a terrible strain on the holidays. These figures aren’t just about the gift-giving aspect of the holidays, either. These stats include the spending that we do on meals, decorations, hosting friends and family and travel expenses.
In order to alleviate some of the financial stress associated with the holidays, we have come up with a way for you to make an extra $200 right in time for the Christmas Season. We also have a step-by-step budget that will help you out year long. This plan will help you get cash back on most of the credit card purchases you make all year- with your own rewards credit card.
You Can Save Money (AND Christmas!) With a Rewards Card
Not everyone is meant to have credit cards, especially when you cannot control your spending habits. We have many stories of how consumers have been buried neck deep in credit card debt. It can take years, even decades, to dig yourself out of the hole that you get yourself in when it comes to this type of debt. Credit cards can be risky to use; however, if you use them responsibly and make the payment each month, they can give you some great rewards.
Points and dollars are awesome rewards, but you can get other rewards back when you use a card to make a purchase. Some cards offer car-rental insurance, extended warranties, price protections service and more.
Choosing the Best Rewards Credit Card
Finding the best rewards card is a small secret for many people. The best card will depend on the individual and the spending habits he or she has. The best card for one person won’t be the best for someone else. For example, you may want the cash back, while others would rather have airline miles as their rewards. And with so many different cards offering the “best” deal, it is easy to get confused.
One recommendation we have is the Chase Freedom Unlimited card. You will earn 1.5% cash back on every purchase you make using this credit card. You can pocket a cool $150 just for making $500 worth of purchase in the first three months of having the card- and groceries count! Your cash-back rewards never expire and there is no annual fee for the card.
Now, it is time for you to compare other cards. Birch Finance is a great platform to start, as it provides consumers with customized comparisons and recommendations. First, you connect all of your current credit cards to their platform in order for them to analyze your spending habits. If the platform sees you spend a ton at the grocery store, they will connect you with a card that will provide you with the best benefits. If you shop on Amazon all of the time, they will find you a card that gives you rewards for online spending. They’ll provide a list of the best card suggestions for you so that you can pick and choose the best card for your lifestyle. You’ll be provided with all of the fine print concerning each card, as well!
If you decide to sign up for one of the cards, we highly recommend that you use their platform’s budgeting sections. They will give you a bar chart that shows you how much you spend on the credit card each month. You can also click on a calendar view of your spending habits to go over your spending habits for each month. This helps to keep your spending habits in perspective, a helpful tool when the holidays roll around and spending gets high.
One last thing to consider- if you use your rewards cards throughout the new year, by December of 2018 you may just have enough rewards to pay off the holidays completely! What better gift can you give yourself than that!
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