How To Save While You Spend

As the holiday season approaches, you may be out more than usual in malls and shops, which can lead to temptation when it comes to spending more than we budgeted for. But this doesn’t mean you have to overspend – there are ways to shop smart while keeping your best financial interests in mind.

“Knowing what you’re looking for before you leave the house will help you stay focused without being lured into a store to purchase something you don’t need,” says Krystal Yee, author of personal finance blog, Give Me Back My Five Bucks. “Shopping online can also help ensure you make thoughtful choices rather than acting on impulse, and allows for quick and easy comparison shopping, which is a good habit to get into.”

It’s also important to determine how much money you have to spend and how you will spend it. Sticking to a budget and using a credit card that offers cash-back rewards could mean you end up with extra money in the bank at the end of the season (as long as you pay it off in full and on time).

Make sure you consider your options when it comes to which card has the best rewards value, and that you understand how these rewards are paid out. Choose card that  has no annual fee, and rewards are paid out automatically at the end of each month.

Whether you’re hitting the malls or shopping on your tablet or smartphone, a thoughtful and planned approach can make a big difference in what you have left over.

newscanada.com