Gifts, Christmas parties … the end of year holidays are the period of all dangers for our finances.
On average, a Quebecker spends an average of $ 475 on Christmas gifts, and the majority of payments will be made by credit card. But beware, the amount of expenses for the holidays, often dizzying, may sometimes cause us to lose track of the activity of our bank account.
Budget exceeded, forgotten payment of bills … many people are having each year. Here are the mistakes to avoid when paying by credit card during the holidays.
1. Spend more than our budget
The secret of not crumbling under debts after the holidays is to establish a budget.
Plan how much you can afford to spend on the state of your finances. To do this, make a list of the people you plan to buy a gift, as well as the budget allocated to each one. Do not forget to take into account all purchases of food and beverages for awakes and restaurants for your Christmas parties.
To leave a little more room, some people do not hesitate to use a microcredit punctual from a private institution .
2. Use your credit card to advance funds
If you need to make cash purchases, we advise you not to make a cash advance, ie convert your credit into cash from your bank’s ATM, for example.
You should know that this practice generates fees, and this amount, we bet that you have not taken into account when you have established your budget. Know that to avoid having a surprise in terms of fees, you can apply for funds online from a private institution, you will know in advance the amount to be reimbursed.
3. Do not check your statements
After making every purchase, it is very important to check your receipts to see if there are any errors.
During the holiday season, vendors and servers are overwhelmed with work, they make daily transactions with hundreds of people. Since the error is human, the amount on your receipt may be incorrect.
Fraud also exists, keeping your receipts will help you spot any suspicious transactions on your credit card.
4. Pay with too many credit cards
We are asked from all sides to subscribe to credit cards. On average, a Quebecer has 3.5.
Even though these seem advantageous, it is important to limit the number of cards. Know that it is not more interesting to spread his expenses on different credit cards, you risk on the contrary to accumulate too much debt.
5. Pay your credit card late
This is the wrong step to avoid! With the many expenses spent with your credit card during the holidays, you may lose the thread. To avoid falling into this trap, do not hesitate to put reminders on your cell.
Paying bills on time will preserve your credit rating and keep stress away.
Credit card: mistakes can be avoided during the holidays
The holiday season can be dangerous for your finances, but with a good organization and a clear vision of your expenses, mistakes with your credit card can easily be avoided.
If you need money during the holidays, but do not want to impact your credit rating, you can also subscribe to a quick loan without a credit check. Do not hesitate to contact us if this alternative interests you.