If you are reading this post before heading out for the Boxing Day shopping, then have a great day today! I hope you find a lot of good deals. Be sure to not overpay for something that you do not really need. Do not get tricked by retails into overpaying.
Otherwise, by the time you are reading this post, Boxing Day may already be over. So today’s post will focus more on preparing for next year. By the end of Boxing Day, I am sure that there are many things that you would you had done to better prepare for this day. So going into next year, I am going to give some recommendations on how to better prepare to help you maximize rewards.
Have your credit card portfolio ready. This recommendation not only applies to Boxing Day, but the entire holiday shopping beginning sometime in November. So throughout the year, credit card companies offer various promotions, especially first year fees waived. I would time the sign up so that it overlaps with next year’s holiday season so that you can take advantage of using credit cards that give you a better return for your expenses. Expenses do not only include gifts, but also maybe additional groceries, travel expenses, etc. Which leads into my next point.
Identify what you actually spend a lot on this year. Once you figure out what you tend to spend more on during the holidays, you will know which credit cards will make sense for your portfolio next year. This is a great time to keep track of all your spending, while it is still fresh in your mind. I understand that there will be expenses that may vary from year to year, but as you get closer to next year’s Holiday you will have a better idea on what you plan to spend more on and then you will know which credit cards to have in your portfolio.
Sign up for all the relevant loyalty programs. If you missed out on earning points with certain loyalty programs because you felt like it was a hassle to sign up and keep track of those points, then maybe you can reconsider it. Because those points can come in handy one day because you can exchange those points for free stuff and help you save money. Which leads to my next point.
Identify which stores you visit most often. Once you have identified which stores you have a preference with, you will have a better idea on which loyalty programs to sign up for.
Once you have identified certain loyalty programs, you can click around my Blog to read more about each program that is relevant to you to help you determine how to maximize the rewards that you can receive.