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How To Spend Smart During The Holidays


People are planning to spend more during this holiday season than last year. A poll that was recently taken showed that the average adult will spend $773 on holiday shopping. Seventy-three percent of the people polled stated that they will put their holiday shopping on their credit card.

Shoppers will be spending $116 more this year than they did last year. More of them will be using their credit cards. Last year, only 58 percent of people put their holiday shopping on their credit card. If you plan on shopping with your credit card, then there are several things that you will need to do to ensure that you spend the smart way.

Use Your Rewards Carefully

Reward cards have higher interest rates than other credit cards. That is why you should only use a rewards credit card if you do not carry a balance. Ted Rossman is an industry analyst who works for CreditCards.com. He stated that the people who pay off their credit cards each month will reap the most benefits from rewards credit cards.

Get the Card to fit Your Needs

Credit cards allow you to get cashback on entertainment, dining and grocery stores. It is important to do your research and find the credit card that best fits your needs. You should also apply for the credit card at least 10 days before you need to use it.

Use Shopping Portals

Many credit cards have shopping portals that allow you to earn points when you shop at certain online stores. You may be able to get double or triple rewards for every dollar that you spend. It is important to note that some items may be more expensive when you buy them online. That is why it is a good idea to shop around before you make any purchases.

Manage Your Credit Card Debt

If you already owe credit card debt, then you will need to address this before you go shopping. You should also look for ways that you can reduce your spending.