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10 Credit Card Hacks to Help You Get Through The Holidays

10 Credit Card Hacks to Help You Get Through The Holidays

Whether preparing for Turkeys, Santa or a New Year’s Parade, the most expensive time of year is upon us. From gifts to travel, budgets will be stressed, stretched and busted. Here are 10 credit card hacks on how credit cards can really help you spend smarter, save more and travel cheaper during the next few months.

1. Price Protection

Ever feel like you got the short end of the stick because an item went on sale days after you paid full price? Never worry again. Your credit card can protect you! Some cards offer free price protection, where if you make a purchase with your card and find the same product advertised at a lower price within 60 days after purchase, the difference will be refunded, up to $500, subject to a calendar year maximum of $1,000 per account.

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2. Purchase Assurance

Nothing’s worse than buying those new sunglasses, only to have them sink to the ocean floor days after you bought them. Purchase assurance covers most items purchased with your credit card for the first 90 days from the date of purchase, and it comes as a free benefit with many credit cards. It can be a great way to protect your investment from theft, damage and in some cases even loss!

3. Extended Warranty

Never, ever fall for a pushy salesman upselling you an extended manufacturers warranty again. Aside from the fact that they tend to be dramatically overpriced, your credit card likely already does it for you, automatically and completely free. Most credit cards offer an extended warranty that doubles the written warranties for up to one additional year on most new purchases made with your credit card.

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4. Satisfaction Guarantee

Ever buy a product, use it, and then have buyer’s remorse. Sometimes, it’s too late. However, with some credit cards, if you become dissatisfied with a product you purchase using an eligible MasterCard within 60 days of purchase, and the store won’t accept a return, you could be eligible for a FULL refund for the cost of the product up to $250 ‒ that’s awesome.

5. Zero Liability

If you’re about to make a purchase where you don’t see the product, it has a wait time or relies on delivery, such as an online order, furniture or travel, use a credit card. If you pay cash or use a gift card, you run the risk that if the product never arrives, or your tour company goes under, you’re out of luck. However, if you use your credit card, your bank is on the hook for a dispute and fraudulent charges like undelivered goods, delivery of incorrect merchandise, etc…

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6. Introductory Rates

If you need to carry a credit card balance for the next few months, plan in advance. Instead of paying 20% plus interest rates, get yourself a credit card with a 0% balance transfer or 0% introductory rate on new purchases. This will allow you to avoid interest charges, often times for up to a year or more, while you pay down your balance.

7. Retail Credit Card Promos

Retailers like the Gap, Macy’s and Bloomingdale’s love when you sign-up for their store credit card, often offering an additional discount on your purchase. These discounts of 15% or more can really add up. Just make sure to use the opportunity for savings not credit, and pay back the balance immediately ‒ retail cards charge interest rates north of 28%!

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8. Welcome Bonuses

Instead of paying for a flight for your holiday travels, why not just apply for a new credit card? There are many opportunities from American Airlines, Delta, Southwest, or United to get great credit card welcome bonuses. If you want to get two tickets for the same airline (for you and a special someone), match one of the U.S. airline credit cards above with another credit card that allows you to transfer miles to that airline.

For example, some of the best Aeroplan credit card offers give you enough points for a free return flight to anywhere in continental North America, and allow you to book on United. Apply for a United and an Aeroplan credit card, and you can get two free round-trip tickets on the same flight!

9. Companion Vouchers

Some credit cards, such as the Alaska Airlines Visa card, offer an annual companion voucher, each and every year. For a mere $121, you can buy a voucher for a travelling companion to any destination in North America Alaska Airlines flies, including Hawaii!

10. Cash Back

The average person spent over $800 on gifts during the holiday season alone last year! If you’re going to spend the money, you might as well get rewarded for it. Cash and debit cards get you little if any rewards at all. A cash back credit card can get you 1% to 5% in cash back depending on where you shop. You’ll likely spend more on big ticket items during the holidays than at any other time of year. Get rewarded for it.

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Marc Felgar

Marc Felgar is an aging, health & senior care expert focused on improving the lives of mature adults.

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Last Updated on June 26, 2020

25 Easy Tips on How to Save Money Fast

25 Easy Tips on How to Save Money Fast

“How to save money fast?” This is the question asked by all of us not in the top 1% of rich people.

If you are looking for ways to drastically reduce your expenses immediately, first look at what you need to spend money on every week. And I mean really need.

You don’t really need to order in food. You don’t really need to buy expensive perfume.

Building from that, you can work out how your regular expenses can be reduced.

As for irregular expenses, they can also be deceptively costly in the long run. Once-off buys can also be tackled with some prudent planning and a little extra research.

And remember: a budgeted lifestyle does not mean a bad or boring one!

But first, understand what budget you can cut down on daily:

  • Regular expenses for the average adult (can be trimmed but not eliminated):
    • food
    • rent/mortgage
    • cell phone
    • insurance
    • socializing/entertainment
    • transportation
    • hygiene products
    • household bills
  • Irregular expenses for the average adult (can be eliminated or cut down a lot):
    • travel
    • clothing
    • medication (*depends)
    • grooming (hair, nails etc.)
    • gifts

Now, let’s dive right into the 25 ways to save money fast:

Save Money on Food

1. Bring a stock of food to the office/work

Instead of popping out for an overpriced salad and a smoothie, leave a set of basic utensils at the office as well as a stock of non-perishable goods such as tinned fruit, tuna, rice crackers and so on (try to avoid the junk food and this can turn into a pretty great diet!).

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Stocking up means you won’t forget or say “I didn’t have the time” when you rushed out to work in the morning.

2. Buy the store-brand version

Many basic foods, such as bread and milk, will taste exactly the same as their branded alternatives. Go for stuff with minimal additives and preservatives. Meat in a tube is probably insanely unhealthy!

3. Eat cheaper cuts of meat

Learn how to tenderize and flavour cheaper meat and fish, and save on the (typically) most expensive item on your grocery bill.

4. Have group dinners

If 10 friends put $5 each in the kitty, it’s pretty easy to make a giant lasagne and get refreshments, as well as hang out with your favourite people.

Save Money in Transport

5. Get a bicycle

Save on gas money and bus/metro fares with this underrated mode of transport.

6. Use public transport and/or don’t get taxis

Some places can only be reached by car. But as a good practise, check your public transport website and see if any routes pass nearby where you need to get to. Walk as much as you can.

7. Find the cheapest gas

Regularly check out where the cheapest gas can be bought.

Save Money in General Shopping

8. Shop online

Not only will you save on the gas or transport fares from going to the shopping mall but you will also find better deals

9. Sell your old stuff

Get your unwanted belongings up on eBay ASAP and earn a few dollars.

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Here’re more ideas for you: 25 Things to Sell to Make a Lot of Money

10. Bulk buying stores

For regular non-perishable/slow perishable purchases such as toilet paper, cat food, pasta, washing powder and so on, do an epic stocking-up trip to a co-op or equivalent (my mum used to go to a place that restaurants buy from).

Be wary of supermarket “deals”, as some have been found to be fraudulent after working out a simple calculation.

11. Become a flea market/car boot sale/street market guru

You can find original gifts and develop good negotiation skills at these places.

12. Generic brand medication

More often than not, the generic version of paracetamol and other basics work the same as the branded version.

13. Choose deodorant, not perfume

It blows my mind when someone drops $70 on a bottle of spray. Stick with a nice deodorant, and not only will you smell just fine but you’ll be sweat-free as well!

Cut Down on Household Expenses

14. Printing

Ink is one of the most expensive substances in the office and coloured ink is doubly so. B

e more efficient and choose black and white, and if your printer doesn’t have a print-both-sides options, just print odd pages first, re-insert the paper and print even pages.

Expand the margins of what you are printing as often as you can to save on paper.

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15. Minimize SMS and phone calls

A combination of a free chat service such as WhatsApp and a free call service such as Skype can reduce your bill to nothing (so long as you have a decent Wifi connection).

16. Shop around for insurance

Most people don’t spend enough time searching for the best insurance deal.

Keep a watchful eye out for deals and new competitors in the market.

17. Try re-negotiating your rent/mortgage

If you have built up a good credit history or a good rapport with your landlord, then chances are a frank chat about needing to tighten your spending could result in lowering your payments. You’ve nothing to lose from trying.

18. Don’t get a TV

Invest in a computer/laptop and an internet-only package. You can watch more (and often better) entertainment on the web, and skip the advertisements as well.

19. Pool your internet bill with a neighbour

My apartment building is basically a big old house split into three apartments. There are five of us in total. We pool the internet bill, making it crazy cheap.

Save Money in Socializing, Entertainment And Travel

20. Have house parties

Instead of paying for overpriced drinks, set up a series of in-house get-togethers with your friends. Everyone takes a turn, so it’s not always your house that needs cleaning.

For sound insulation, hang heavy drapes on the walls and windows. For music, invest in a good second-hand set of speakers which you can connect to your computer. Let Spotify or Grooveshark playlists do the rest.

21. Open festivals, meetups and events

It never fails to surprise me how much underground stuff goes on around me for free or for very cheap. Find out who runs the blogs and websites that list all the less well-known cultural activities.

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22. Volunteer

If you can’t pay for a ticket, volunteer and get to be there anyway.

23. Housesit

There are multiple housesitting websites offering you the possibility to avoid paying hotels and skip the discomfort of crummy hostels.

Save Money on Hygiene and Beauty

24. DIY beauty

French manicures, pedicures, waxing, eyebrows… pretty much all of these can be achieved at home (and done well) with some practise. There are plenty excellent blogs and YouTube tutorials to help.

25. Fewer haircuts/volunteer at a trainee hairdresser

If you can’t bear the risk of a trainee touching your locks, learn more ways to manipulate your hair as it grows and get haircuts sparingly. Women’s haircuts are outrageously priced in many cities.

Bonus: Effective Money-Saving Tips for Everything

Here’s a summary of what you can generally do to save more money:

  • Share/pool resources. Organize a neighbourhood sharing scheme, common resources for your apartment block or with your friends. Not everybody needs an individual lawnmower.
  • Buy energy-saving everything. The easiest way to lower your bills – replace those lightbulbs!
  • Buy in bulk. Be sensible about it (i.e. make sure you have space!), and drastically reduce weekly expenditure.
  • DIY. Skill up using YouTube tutorials on plumbing and many other essential services so you never have to pay for simple problems again.
  • Research a lot before making a decision. Most money-wasting is the result of poor preparation and planning. Don’t shirk this part just because you don’t like it!
  • Use your network. Your network is full of resources that can ease the pain of budgeting. Ask for help.
  • Stop and think. Do I really need it?

Unfortunately, there are some things that require plain ol’ giving up for the time being. This can include high-cost sports such as skiing, the latest versions of some technologies, the finest brands of food/drinks, premier seats at the opera and most other indulgences.

What is important to remember during lean times is that when you look back on your life, it will be the experiences that stand out, not the extra comforts.

Living on a budget can teach you a lot about how much you can really get out of your paycheck. We only live one life, so make the most of every penny you earn!

More Tips for Personal Finance Management

Featured photo credit: Unsplash via unsplash.com

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