With the hustle and bustle of Christmas shopping, here are 5 money traps to avoid. Stores know consumers are in full swing shopping mode and may rush purchases. Make wise decisions this holiday season and do not do these 5 things.
1. Store Credit Discounts
During checkout most big retailers will ask you if you have a store card, and if you sign up you can save X amount today. Politely decline, as the interest rate on the store cards are not worth the one-time savings.
2. Extended Warranties
Buy an electronic, an appliance and more and you will be asked if you want an extended warranty. Instead of doing this, know the condition of your current items and start funds for those that will need replacing in the next couple of years.
3. Gift Wrapping
If it’s not complimentary, then do it yourself. Exception, if it’s being donated to a non-profit, check with your accountant if it can be a tax write off.
4. Quicker Shipping
Plan ahead to avoid having to pay up for shipping. The faster you need it, the more it will cost. Plan ahead!
5. Paying For It Later
Avoid putting gifts on credit cards or buy now, pay later plans. Both can have hidden expenses that make it not worth it if you miss a payment. Instead, only buy what you can afford to pay for now.
Learn more Money Savings Tips! We are here to help you Save to Survive in 2022 with creative ways to trim your budget, save on groceries, afford Christmas gifts and more. Join the SavEars community of friends.
Want to chat about a Disney vacation? Travel Agents (at no cost to you) are ready to help in the SavEars group.