It’s the season to save. Eight tips to stretch your cash this holiday shopping season.

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Consumer spending power is more diverse than ever, with black consumers being the main drivers of seasonal spending. When putting together your holiday shopping list – and your budget – remember that a little planning can go a long way towards a financially healthy holiday season.

With the holiday shopping season approaching, here are seven essential money-saving tips:

1. Establish a vacation budget – and stick to it. There’s so much pressure during the holiday season to buy, and it’s easy to spend more money than expected. Download a budget spreadsheet (one is available for free on Chase.com), which can help you create and manage your budget to help you feel more in control and spend less than you earn. It’s a useful tool to reference throughout the year, and you can make adjustments as things change, like salary and bills.

2. Open a dedicated savings account. You might consider opening a vacation-specific savings account to set aside money each week. Saving for later will help make a difference when it’s time to buy gifts for your loved ones.

3. Explore your credit card offers. Many credit cards offer special offers based on your previous purchases that can help you save money on holiday gifts, while others offer special cash back offers for online purchases. Take advantage of these discounts and be flexible. If you can’t find a good deal on the gift you originally planned to buy, see if one of the specials you qualify for might appeal to someone on your list.

4. Use credit responsibly. Credit cards are convenient financial tools, as long as they are used responsibly. Be sure to pay the balance each month before the due date to avoid interest charges or pay at least the minimum payment to avoid late fees. Resist the temptation to spend more than you can afford in any given month.

5. Take advantage of digital tools. Digital banking and budgeting apps are helpful and offer customers a great way to take control of their finances, allowing a one-stop-shop to get a holistic view of your current financial situation. From the Chase Mobile app, customers can use a variety of tools to help them reach their goals while monitoring their spending and savings trends.

6. Take advantage of coupons and discounts. Retailers have already started holiday sales and, of course, all popular discount days – Black Friday, Small Business Saturday and Cyber ​​Monday – offer opportunities to save. You can also use money-saving apps like RetailMeNot, Honey, and Rakuten to automatically get cashback and discounts when you shop online.

7. Reduce your other expenses. The holiday season is a good time to cut back on impulse purchases or frivolous spending. Removing these unnecessary expenses will allow you to account for the natural increase in discretionary spending during the season.

8. Sign up for credit monitoring. The holiday season is a particularly vulnerable time for credit card fraud. Millions of people fall victim to fraudulent activity every year, and scams are more common than ever. Be sure to monitor your credit score and identity with confidence and sign up to receive alerts from Chase’s Credit Journey.

Visit chase.com/financialgoals for more money saving tips this holiday season and throughout the year.

JPMorgan Chase sponsored content.


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