Your Holiday Shopping Money May Be in Your Wallet

The holidays are right around the corner and can be a very expensive time of year. They’re great to catch up with family, friends and to remember what’s truly important. They’re not so great for either your wallet or your waistline.

How much you spend greatly depends on your gift giving tendencies and how much you and your family celebrate the holiday festivities.

I'll share with you a tip: there is a way to pay for your holiday spending that may already be in your wallet.

Using credit card rewards to pay for Christmas isn’t something that many people consider, but it can be very effective. Depending on your rewards balance, you can use those reward points to get some great stocking stuffers or an expensive once-in-a lifetime present. 

Many rewards programs offer cash back on your points. This is usually a direct statement credit to your account and will offset some of your Christmas spending. Other rewards programs offer gift cards, travel, merchandise and event tickets. Look for additional discounts through your rewards program to maximize your points. 

Even if you haven’t consciously saved your credit card rewards, your reward balances could help your budget this holiday season.

If you don’t have any rewards or cash back to spend this year, don’t worry you can always start preparing for next year! If you start putting many of your daily purchases on credit, you can avoid carrying around cash or writing checks. In addition, if you pay those monthly bills with your credit card, you’ll be able to earn a lot more reward points throughout the year. If you pay your balance in full every month, the extra rewards you earn on those regular bills can add up and ease the pressure on your bank account during the holiday season. 

Want to learn more about how you can utilize your credit card rewards points to budget for your holiday spending?  Visit one of our personal bankers today to discuss credit cards!