Okay, no, wasteful spending is not something we promote here at LWG. Shopping when you need things is different, obviously. But let's be clear - holiday shopping is never about need. I always need food, and no one gets me groceries for Christmas. It's about random crap you get people to show them you were thinking about them around the last part of December.
I know it's September, but I am already thinking about the holidays. With me being nearly 7 months preggers around Christmas/New Year's, one of the last things I will want to be doing is walking around a mall with thousands of other people, trying to get gifts for my loved ones. So I'm planning to get my holiday shopping done by Thanksgiving with the help of...my credit card rewards.
For every $1 I spend, I get points. With these points, I can buy all sorts of stuff - a coffee maker, workout DVDs, and thousands of other choices. You can also redeem your points for cash back or gift cards at many stores and restaurants. While I could take the cash back option and add to my savings or retirement, I'm going to redeem my reward points for gift cards for stores that I'll shop at for holiday gifts. Here's how I look at it - it's money I was planning on spending anyway, and it's not coming out of my pocket! Plus, it will automatically set up a budget for me based on the value of the gift card.
What do you think? Good idea or bad idea? Anyone else planning to get creative with holiday shopping?
I actually hate holiday shopping for many reasons -- so I try to get it all done in November! I also try to make gifts (like ornaments or other DIY projects) to save money.
ReplyDeleteI also get my Xmas cards all ready in Nov. That way that won't stress me out in Dec.
I like to eat and drink and Dec. and celebrate and NOT stress out. :)
My credit card gets me Starwood points -- which I use for vacations. A little gift for myself :).
PS- Have you registerd for baby yet? You SO need to do some posts (in the future) about what baby gear is worth it vs. needless and/or overpriced.
I actually just put some stuff on layaway for my siblings that live with me. That way paid off in Nov and done before Dec, husband and I decided nothing that can not fit in the stocking this year, possibly could back fire with us getting small pricey gifts, but thought it would be fun and then the kids are only getting 5 gifts from us. Sooo should not have to stress. I think using points to buy presents is a good idea, as long as you do not SPEND MORE on the card that you normally would in order to get more.=)
ReplyDeleteAlso this year, am going through all my old cards, I have about 4-7 from the last 4 or 5 years style cards, so going to just use those instead of buying new ones.=) trying to be smart and frugal.
@Newlywed - I like your idea of getting everything done in November. That's a good goal- I'm doing it, too!
ReplyDelete@B - sounds like you put together a really nice holiday for your family! Thanks for sharing your tips!
We just talked about this last week and we have written a Christmas Budget. Guess it's time to start shopping now! :)
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