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Saving Money During the Holidays

The holidays are the time of giving to the ones you care about. Thinking of what each of them would like, and coordinating with other gift givers so that none of you buy the same gift for the same person, can be a little stressful at times. However, it is all worth it in the end when you see the look of gratitude in their eyes.

Unfortunately, the holiday season is a pilgrimage to poverty for many shoppers. Too often some people run up their credit cards during the holiday season and spend most of next year paying it off just in time for the next holiday season and debt binge. Such a vicious cycle is something that is best broken.

One big place where this debt is procured is when people purchase plane tickets. Many people living in the cold north do not care for the snow during the holidays and vacation somewhere a lot sunnier during the holidays, sometimes for several weeks in a row.

As you might imagine, these trips are anything but cheap. As such solutions are much needed. In recent years, travel rewards cards and rewards cards in general have been gaining considerable popularity amongst spend thrift consumers who would like to be rewarded for their habits.

There are many sorts of rewards credits cards out there each with its unique spin. It is advised that you check out the review of the Capital One Venture Card. If you can qualify for this card it might just be THE BEST OPTION for the holiday season, especially considering this time of year most people tend to spend a lot of money. For travel, food, and gifts, this can be lavish time of the year. With double miles on any purchase, you’ll quickly be able to save up to go see the family out of town, or get a head start on saving for summer vacation!

But before you do, there are some general tenants and benefits inherent in any rewards credit card that we shall be discussing here.

Getting a Travel Rewards Card

While each travel rewards card has its own bells and whistles, there some general tendencies. The way they usually work is when you use them purchases. This can be for travel related expenses or sometimes just any purchase at all. Based on the monetary amount you spent, you will be awarded travel rewards points based on that spent amount.

These accumulated rewards points can then be saved up until such a time when those points can be used on a list of travel expenses provided by the card company. This can be flyer miles where you can reduce if not eliminate the cost of your plane ticket using your rewards points.

You can also use these rewards points to reduce the cost of your lodging. Some vendors in tourist hotspots will partner up with these card companies and allow rewards points from that specific card to be used to pay for hotel stays and even food at certain restaurants.

These rewards points can usually be stored and accumulated indefinitely without a built-in expiration date. This means that you can really buildup your pile of rewards points and potentially eliminate the cost of your plane tickets and anything else covered by the rewards system.

The main and obvious benefit of having a travel rewards card is of course the prospect of reducing you travel expenses. Many of us do not have much financial wiggle room to spare. As such, we can use any leg up that we can get. Being able to turn a certain percentage of our daily expenses into savings for our net vacation is something most cannot say no to.

Another benefit of getting your very own travel rewards card is that you can also use it as a tool to build your credit over time. If you make a point to pay down the entire balance every month when your statement comes in, you will eliminate the interest burden from your budget and also look good on your credit report.

Online Bargain Hunting

If you buying a certain number of gifts for the holidays is something you cannot avoid, you might want to consider exploring the e-commerce universe. Shopping online is becoming an increasingly popular activity, with many experts predicting sales during Cyber Monday exceeding that of Black Friday in the near future. Now there’s even online thrift stores for those with the patience to browse with no end!

One of the big advantages online retailers have is that their selling costs are a lot lower than physical retailers, primarily because they do not have physical stores to maintain. Predictably, this means that you will be able to find better and more numerous deals for the same products online than you would at a physical store.

Making Your Own Gifts

This might not sound fun for some, but giving someone something you made instead of something you bought can make a world of difference. When you think about it, by making a gift by hand you can save a chunk of money by not having to go out and buy something you aren’t even entirely sure they will enjoy.

Not only does making your gifts by hand save a good deal of money, but you will see a noticeable difference in their reactions. The authenticity of the gift will definitely show and someone will definitely shout out a compliment that you actually took the time to make your gifts by hand. Moreover, the gifts you make by hand are truly one-of-a-kind and will retain its authenticity and sincerity until the end of time.

Spend Time With the People You Love

At the end of the day, the holidays are about being around people you care about. The last thing you want to have during the holidays is a debt cloud over your head bringing you down along with everyone else who can see it.

Categories: Life