Money Hacks for Christmas Shopping

It’s never too early to get a head start on your Christmas shopping, and if you already have, you aren’t alone. 86% of Americans planned to purchase presents last Christmas, with each person spending an average of $663.96 on gifts every year. Add that up for a family of three, four, five or more and you might feel a little anxious thinking about everything you’ve still got left to buy. However, don’t fret! There are many ways you can hack your way through the holidays, buy the perfect gift for everybody you love and still have money left over in your bank account to make it through the New Year.

Photo by erin walker on Unsplash
Make Purchases with a Reward-Optimized Credit Card
This money-saving hack works all throughout the year, actually, but you should always engage in credit card spending with caution and be sure to pay off whatever you spend as soon as possible. Most credit card companies offer rewards programs with savings in the form of travel perks, cash back and points earned on everyday purchases. Not only are cashback cards a great way to save while spending, they often pay off more when purchasing big-ticket items such as electronics that you typically buy around Christmas. Find a card that suits your lifestyle and spending habits. If your family spends a lot on groceries then you’ll want to look into a card that gives you points for spending at grocery stores, for example. Cash back reward credit cards tend to offer more flexibility in that you can usually choose how and where to spend your savings. However you decide to spend your savings, you’ll be able to rest easy this Christmas knowing that you’re getting money back on all of your purchases.

Pay Attention to Price Drops
This is a serious money-saving hack that most people still don’t seem to know about. Pretty much every store has a price adjustment policy nowadays and with the market becoming so competitive around the holidays, they’ll also likely match the price of something you buy if you find it elsewhere for cheaper. While you could make it a point to monitor the price of everything you purchase, you probably don’t have time in the midst of holiday parties and family get-togethers. Automatic price-checking tools exist, such as moolah, that will allow you to sign up with the email you use to make online purchases. They monitor your receipts and automatically browse for a price drop and send you the refund on the difference if they find one. If you mix in-store and online shopping, you’ll want to download the app PriceJump this holiday season. It lets you scan barcodes and compare prices from over 5,000 stores and online retailers before making a purchase, which can also save you a lot on gifts and other holiday items.

Enjoying a Stress-Free Holiday Season
Christmas spending doesn’t have to be stressful. If you are able to make a budget beforehand and be smart about how you shop you will be able to strategically spend while saving this holiday season. Try to pay with a rewards credit card and ensure you’re watching all of your purchases in order to snag the best price. When you get rewards or refunds, you can invest that back into your family or yourself.

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