I’m Christmas shopping already.
I know, I’m not fully on board with the idea of getting into that season before we’ve even done Halloween or Thanksgiving, but I’m at least starting to get ideas in my head for gifts for everyone. The best Advent Calendars always arrive early on shelves, so I’m scooping those. Hockey tickets for the season are on sale and with the boys’ favourite teams coming through town just after the new year, those have been bought already too.
So I’m in the spirit. I’m planning, I’m thinking, and I’m budgeting.
With back to school fees, after school activities, and all sorts of annual expenses eating up my bank account, a little planning between now and Christmas can make sure I stay on track, spend within my means, and make everyone happy.
One of the ways you can do that is with the Tangerine Money-Back Credit Card. By just buying the things you always buy, you get cash back giving you a little reward. Between now and the end of the year, I’m going to be giving some budget updates on my spending and the money-back rewards I’m earning.
Here’s how the Tangerine Money-Back Credit Card works: you get to personalize your rewards by receiving 2% Money-Back on your purchases in 2 categories of your choice, and 1% Money-Back Rewards on all other purchases.
You can choose from grocery, restaurants, gas, recurring bill payments, drug store, entertainment, hotel-motel, furniture, home improvement, or public transport and parking.
As I try to rein in my extra curricular spending this year, I’m sticking to the basics: gas and groceries for my Money-Back categories.
Here’s how my budget breaks down:
$30 / week on gas
$120 / week on groceries
x 12 weeks until Christmas = $1800 spent
2% money back = $36
(almost the cost of a hiking pole gift for my son for Christmas!)
Because I have a Tangerine savings account(check out how I made a $250 bonus just for opening bank accounts for the boys), I get a third 2% category! I’ll take recurring bill payments (my energy bill is $250 / month)
$750 x 2% cash back = an extra $15.
$36 + $15 = $51 money back
And, since I’m new to the card, I’m getting 4% on my purchases for the first three months (hey that’s conveniently right up until Christmas)
$51 in money back rewards doubled is $102.
(Almost enough to buy each of my sons their own hiking pole)
All of these rewards are earned without any extra spending. Just by doing things I already do like, buy groceries, fill up on gas, and pay my energy bill I’m earning money back.
Now, extrapolate those money back rewards over a whole year and I’d get over $300 back – just for buying the things I’m already buying each week. No extra spending, just extra money back.
Go ahead, do the math on your own purchases. Pick your 2% categories, budget what you spend each week or month on those things, and then sit back and collect your money back rewards. It’s a chance to follow along on my journey and get your own reward.
CONGRATULATIONS TO MONIQUE SHUELL OF SCARBOROUGH, ONT
FOR WINNING THE CONTEST!
As I go along my budget journey with Tangerine, you can take your own and .. have a chance to get your own money back reward. In the comments, pick your two 2% bonus money back categories (from grocery, restaurants, gas, recurring bill payments, drug store, entertainment, hotel-motel, furniture, home improvement, or public transport and parking). Tell me what you spend on each between now and Christmas (3 months) and figure out what your 2% money back rewards would be from Tangerine. Imagine what kind of great Christmas treat you’d like to spend that cash on Tangerine just might make it happen when they pick one reader and give them DOUBLE money back!
Rules: Contest open to Canadian residents only. No purchase necessary. One entry from the comments on the DadCAMP Tangerine campaign blog posts will be chosen at random to win double the money back as calculated by their budget in the comments. Void where prohibited. Contest deadline 12:00a MST November 18, 2016. Cash prize to be deposited to a Tangerine savings account created in your name. Account is not required to be maintained after cash withdrawal.
Disclosure: this post is sponsored by Tangerine.