The Discover Card Cash Back Holiday Spending Plan (Conclusion)
Last year, I felt I spent too much money on Christmas presents. I decided to see if I could focus on using my Discover Card cash back amount to stave off the January how-much-do-I-owe!? shock this year.
Since my November statement just got sent, I can announce my results.
I cashed in $100 in cash back money for four gift cards. I have $5 and change left in the account. That doesn’t seem like a lot I know. This wasn’t my expectation either.
In a way, I’m happy because this means I actually spend less than I think I do. I focused on putting more purchases on this particular credit card throughout the year and all I ended up with was $100.
For me, I’m not going to try this strategy again. Even though I’m pretty frugal, I did find myself spending unnecessary money because of the cash back justification.
It’s just better to be smart throughout the year, save for holiday gifts as if they were a larger purchase, and be sane at Christmastime.
I hope my four gift card recipients will like their presents though. I think they fit well.