Boxing Day posts are generally always late. I usually give my shopping tips the day before already. However, to really win the miles and points game, you have to plan well ahead of time, in anticipation.
So if you are reading this post before heading out for the Boxing Day shopping, then have a great day! Otherwise, this post is more of a post-Boxing Day theme. Hopefully everyone came home happy with their purchases. Happy as in, feeling that you got great value for what you purchases.
Otherwise, in preparation for next year, this is what you want to keep in mind:
1) Sign up for all the relevant loyalty programs
Don’t miss out on valuable points (regular earning, but more important, bonus offers). Even if you only shop at a specific store once or twice a year. Most often, that’s all the activity you need to keep your account active anyway.
2) Have your credit card portfolio ready
Earning multiplier bonuses on your purchases, depending on which spending category is key to optimizing your rewards. Otherwise, Christmas holidays is a great way to reach minimum spend requirements with new credit cards.
3) Constantly build a running shopping list
I would always have a shopping list of items that I know I will need to buy at some point, but not pressing. This gives me time to shop around and watch for promotions. While I shop around and watch for promotions, I mark down the prices. If you want to take it a step further, it is always good to look at price history, to find out what are some of the better promotions offered. That way, you will know that you are not overpaying on Boxing Day.
4) Watch for Shopping Portals
As the online shopping business continues to grow, you may not necessarily need to go to stores. But if you are going to buy something online, go through a shopping portal to earn more bonus points.
5) Set a budget
Don’t spend more than you have. The last thing you want is to have an outstanding balance on your credit card and need to pay interest. That would nullify all the rewards that you earn. Only spend what you can afford!