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Watching Your Wallet: celebrating holidays amid COVID-19

Published: Nov. 16, 2020 at 9:37 PM EST
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LANSING, Mich. (WILX) - About two in five holiday shoppers say they plan to spend less this year because of the pandemic.

What are some ways to keep yourself from spending too much?

According to a study by nerdwallet, 65% of Americans say the pandemic will impact the way they plan to give gifts this year.

A lot of people are not traveling this year! Take that money you’d usually spend on plane tickets or gas and put it toward gifts.

“You can also take any travel credit card rewards that you’ve accumulated that are just sitting there unused. You could turn those into a gifts instead by using those rewards and turning them into cash back that sort of thing,” said Kim Palmer, nerdwallet personal finance expert.

  • Make a list and don’t be tempted by last minute gifts you didn’t budget for
  • Plan your purchases around the big sales
  • Get an app like shop savvy to help you find the best price on an item you want to buy

In this day and age, it’s easier than ever to buy something online and have it delivered or pick it up at the store. So, make sure you comparison shop from your phone or computer before you hit purchase.

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