(WTNH) – With just a couple of weeks until Black Friday, it’s time to start setting aside some cash if you want to survive the season debt-free. We are Stretching Your Dollar with tips for stashing away extra cash by then.
Consumer spending is expected to reach pre-pandemic levels this holiday season. 76 percent of shoppers are planning to shop sales events like Black Friday to stretch their holiday budget.
Savings expert Andrea Woroch said you can save about $30 right away by canceling unused subscriptions. An app like Trim will help you identify all the subscriptions you pay for and cancel the ones you don’t use.
Secondly, find a better cash-back credit card. The average credit card user misses out on about $200 in cashback deals each month. You can compare offers at Cardrates.com.
“Figure out which category does most of your purchases go towards, gas, travel, medical bills.. look for a card that gives you bonus rewards,” Woroch said.
Third, cut back on food waste. The average person throws out about $63 worth of groceries each week! That’s nearly $250 a month.
Make sure you are meal planning and looking for recipes where you can use ingredients for more than just one meal.
Fourth, get a grocery scanning app like Fetch that lets you earn points that you can redeem for gift cards.
“Take pictures of all your recipes. You’ll earn points which you can then redeem for free gift cards ahead of Black Friday at stores like Target, Walmart or Amazon to give your holiday shopping budget an extra little boost,” Woroch explained.
Her fifth tip is to unplug those unused gadgets. These energy vampires account for 20 percent of your electricity bill when they’re plugged in even if you’re not using them.
The sixth tip is to lower your auto insurance bill by about 20 percent if you bundle.
“Consider bindle services, if you have homeowners, renters or life insurance. Contact your provider and see if you can get a reduction by bundling all of your policies in one,” Woroch said.
Remember to dodge impulse purchases and use coupons. The average person blows more than $150 each month on impulse purchases.
Avoid temptation by unsubscribing from store emails and turning off push notifications in deal apps. You’ll also save about $122 a month by using online and mobile coupons.