Between traveling to see loved ones, gift giving and even holiday party attire, the so-called ‘happiest time of the year’ can quickly turn into the most stressful as your spending starts to add up. The good news is that a few simple tweaks to your financial hygiene can help you feel more at ease through January and beyond. We’ve compiled our top simple tips to make it easy to spend smart when shopping for your loved ones, and put the focus back on enjoying the cheerful festivities ahead.
1. Set a budget
Take a moment to review your monthly expenses and overall financial situation to identify what spending limit is reasonable to allot to your seasonal spending. It can also be helpful to look at spending habits over the past years when narrowing down your budget.
Set that budget in stone and make sure you keep it top of mind even when you’re wading through the racks at the crowded mall.
2. Make a list
Write down each person that you are planning on gift-giving this year, as well as an estimate of how much you would like to spend on each gift. You can also use this time to brainstorm stores or gift ideas that fit within your budget. This can help guide you and keep you on track to stay within your allotted budget, instead of being wooed by an impulse buy in-store.
Keep this list in a convenient place, such as within your phone’s notes app, for easy access while shopping. Before making a purchase, refer to the list to confirm that said purchase is within your price range and is meant for a person you’ve identified on your list.
3. Take advantage of sales and promotions
Who doesn’t love a good sale? Although Black Friday and Cyber Monday may be over, don’t fret – stores will still be running promotions to invite shoppers in-store before the holidays. Do your research before beginning your shopping to see what retailers are offering this season’s must-have items for less.
If you’re shopping online, take advantage of extensions and websites that scan for active discount codes, helping you save even further.
4. Take advantage of credit card rewards
Your credit card can do a lot more for you than just providing purchasing power. Credit cards often provide fantastic rewards such as cash back, early access to sales, and more. There is no better time to redeem these rewards than over the holiday season and save during this time of substantial spending.
The Rogers Connections Mastercard offers Canadians great rewards all year long, including 5 Roam Like Home™ days at no cost every year, 2% unlimited cash back on eligible U.S. dollar purchases, 1% unlimited cash back on other eligible purchases, and for those who apply now, 10% cash back on all purchases for the first three months (up to a value of $100). Cardholders also receive a 30% bonus on earned cash back when redeemed for Rogers phone upgrades, wireless accessories, or to cover your monthly Rogers bill – another tool in your toolbox to help stretch your holiday spending.
5. Gift experiences instead of physical items
Gifting your loved ones an experience instead of a physical item is another way to save money while also giving the priceless gift of quality time and wonderful memories.
Bring to life the things that your friends and family like to do, like trying new local restaurants or going to museum, or things they’ve said they always wanted to do, such as honing a new skill. A pottery class or trip to the aquarium will often cost less than an item you can buy in a store and is a thoughtful gift you can experience together.
6. Track your spending
It’s just as important to monitor your spending as it is to set a budget in the first place. Tracking your purchases will help ensure that you are staying within your allotted spending limit, and is a good practice to get into year-round.
The Rogers Bank app allows you to monitor all of your Rogers credit card transactions directly from your phone, making it easy to see how much you have spent in real time.
You can also plug all of your gift-giving expenses in a spreadsheet and compare these against your budget. This will show you how much money you have available to spend on gifts, and break down what exactly you have purchased for each person in your life.
Approaching holiday shopping can be a very daunting task, but following our smart spending tips will help set you up for gift-giving success! And if you are still searching for the perfect gift for a loved one, give the gift of connection with the Rogers Wrapped in Red event! There are promotions on home and mobile plans, and we are offering trade-in deals with financing & upfront edge for Samsung and iPhone lovers. More details about Rogers hottest deals of the year can be found at Rogers.com.