Money Management

Planning to buy gift cards for your loved ones this holiday season? You might be able to save money on them. Find out how you can benefit from gift card deals. 

As you finalize your holiday shopping this December, you may buy gift cards for friends and family. They’re an excellent gift idea because they give the recipient more flexibility. Before you shop for gift cards, you may want to review current gift card promotions. Many retailers have valuable gift card offers throughout the holiday season. Let me explain how these deals could help you get extra gift cards for free.

Earn extra gift cards for free

Many retailers heavily promote their gift card offerings during the busy holiday shopping season. For businesses, both big and small, gift cards are a win for their bottom line because they get paid as soon as a gift card is purchased.

To encourage more gift card sales, some companies run gift card promotions. For example, a restaurant might run a promotion that allows customers to earn a bonus $10 gift card when they spend $50 on gift cards.

Usually, offers like this are only available for a limited time. But these promotions can help you stretch your money further without spending more than you planned. While gift card deals like this won’t make you rich, they can help you keep more money in your checking account.

It’s worth mentioning that some retailers have restrictions set for bonus gift cards. For example, you might need to wait until the new year to use your bonus gift card. Always review the terms of these promotions to avoid costly surprises and disappointment.

What to do with free gift cards

One strategy is to earn additional bonus gift cards and use them as presents. But you may want to avoid doing this if the bonus gift cards you’ve earned have specific date-of-use restrictions. This strategy could make gift planning easier if the bonus gift cards don’t have date limitations or other restrictions.

Another option is to use your gift cards for your own future purchases. This is an excellent option if your regular go-to restaurants or retailers are running gift card promotions now. If your budget allows, you can buy a few extra gift cards to save money later.

Don’t miss the gift card promotions

If you plan to buy gift cards in the coming days and love the idea of getting additional gift cards at no extra cost, here are a few promotions you may want to consider:

Barnes & Noble: Through Dec. 15, 2023, earn a $10 bonus gift card for every $100 in B&N gift cards purchased in stores or online. The $10 bonus gift card will be emailed on Jan. 12, 2024.Buffalo Wild Wings: Earn a $5 eBonus for every $25 in gift cards purchased at participating restaurants or online through Dec. 31, 2023. eBonus coupons are valid from Jan. 1, 2024 through Feb. 29, 2024.Panera Bread: Get a $10 bonus card for every $50 in Panera Bread plastic gift cards and eGift cards purchased or loaded in-cafe or online through Dec. 31, 2023. Bonus cards are valid online and in-cafe at participating locations from Jan. 1, 2023 through Jan. 31, 2023.The Cheesecake Factory: Receive a $15 bonus card for every $50 worth of gift cards purchased in a single transaction at participating restaurants and online through Dec. 31, 2023. Bonus cards can be used in restaurants or online from Jan. 1, 2024 through Feb. 29, 2024.

Looking for more financial guidance? Review our personal finance resources to learn more.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Rising mortgage rates have made homeowners reluctant to sell and have affected the market in several ways. Keep reading to see how. 

Not only have rising mortgage rates hurt home buyers who are looking for an affordable place to live, but they have also made it less desirable for homeowners to move.

Think of it this way — if you have a 3% mortgage rate and sell your home for $500,000, then buy another $500,000 home at today’s mortgage rates (about 7.2% on average), your mortgage loan payment would be about $1,000 more per month. So, it’s not exactly tempting to move unless you absolutely have to. And you might be surprised at how much higher rates have affected the market. Technology-focused real estate brokerage Redfin has released some statistics that tell the story.

Existing home inventory is very low

Rising rates have produced a historically low level of existing homes for sale, as most homeowners have mortgage rates of 5% or less (and much less in many cases). While the number of homes on the market has ticked up slightly this year, it might surprise you to learn that there are still roughly half as many existing homes on the market today as there were in mid-2014.

As a result of low existing home inventories, more buyers are turning to new construction homes. New constructions now make up more than 30% of single-family home sales, more than double the long-term average of about 13%.

Not only is it tougher to buy a home and tougher to find a buyer after you list a home for sale, but rising mortgage rates have also made it more difficult to get a deal done. In fact, Redfin found that 53,000 home purchase contracts were canceled in September alone — that’s more than 16% of homes that went under contract. Unless it’s a cash sale, purchase contracts typically have a financing contingency, allowing buyers to back out if they can’t qualify for a mortgage.

Cash is king

As you might expect, this has become an excellent time to buy a home for people with tons of cash sitting around. Sure, home prices are higher than they were a few years ago, but homes are sitting on the market due to a lack of buyer activity, giving cash buyers a big edge.

In fact, 43% of luxury home purchases in the third quarter were paid for in cash, the highest percentage ever in a third quarter. Overall, 34% of home purchases are being made in cash, the most in nearly a decade when the mortgage industry was still thawing out in the wake of the subprime mortgage meltdown.

Is relief for buyers and sellers starting to arrive?

Many experts have been surprised at how well higher home prices held up as mortgage rates increased. But the good news is that we’re starting to see some signs that the market is thawing a bit. Maybe sellers are starting to get tired of waiting for a “good market” to sell, and perhaps buyers are starting to get used to the idea that sub-4% mortgage rates aren’t coming back anytime soon.

In late October, Redfin reported that 7% of homes listed for sale dropped their prices in the preceding four-week period, the highest share on record. Plus, a separate report found that more than one-third of home sellers are giving concessions to buyers, significantly up from two years ago when mortgages were cheap and the real estate market was in a frenzy.

We’re also finally starting to see more listing activity, as new listings increased by 6% year-over-year in November, the largest uptick in more than two years. With mortgages starting to come off the highs, the average buyer’s monthly mortgage payment was $2,575 in November, $164 below the peak in October when mortgage rates approached 8%.

In fact, although nobody has a crystal ball that can predict real estate market conditions (the past couple years are certainly proof of this!), Redfin has also predicted that home buyers will get a big break in 2024. It’s predicting lower mortgage rates and the appearance of more listings on the market. If this comes to pass, it could do a world of good for buyers and sellers alike.

Our picks for the best credit cards

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Need some stocking stuffers in a pinch? Read on to see how Amazon can come to your rescue. 

At this point, you’ve perhaps finished the bulk of your holiday shopping and are done raiding your savings account to buy your loved one the electronics and apparel they’ve been jonesing for. But there’s one aspect of Christmas you may have overlooked — stocking stuffers.

The good news is that Amazon has a host of fun items you can find at reasonable prices. Check out these buys to see if they’re a good fit for your family.

1. ZMLM Scratch Paper Art Set: 60Pcs

Scratch paper makes a great token gift for kids of all ages; it’s coated so that when you scratch the coating off, you reveal color underneath. Amazon has a 60-piece set of rainbow scratch paper for $6.99, which is 30% off the usual price. It’s a good item to pick up ahead of what could be a long week of no school during winter break. And it’s a good indoor activity to have on hand in general when there are kids in the mix.

2. Sensory Fidget Toys Pack – 60 Pieces

Kids tend to like to keep their hands busy. Amazon is selling a 60-pack of assorted fidget toys for $16.99. If you’re trying to fill multiple stockings, you’ll get a nice variety with this set. This also makes a great party bag stuffer, so if you have a child’s birthday coming up shortly after the holidays, use a few fidgets to fill their stockings and reserve the rest for later.

3. Enchante Ellen Tracy 10 Pc Lip Gloss Collection

Lip gloss is a great gift for teens and adults alike. This set features 10 fun colors for just $9.99. You could gift the entire set to a child, or split a set between multiple family members. And no one would judge you for keeping a couple of these lip glosses for yourself, either.

Now if you don’t need 10 lip glosses and want to spend less, Amazon has these lip glosses available for just $2.19 apiece. But with the above set, you’re only paying $1 per lip gloss, so it may be worth it to keep some around for later at that lower price point.

4. 2023 Topps Series 2 Baseball Hanger Box — 64 cards

Have a baseball fan at home? Baseball cards are a great stocking filler. They can be traded or added to an existing collection, and keeping them organized is a great way for your pre-teen to stay occupied. This pack of 64 cards is available for $19.99. It also makes a great addition to a baseball-themed Christmas array, such as if you’re buying your child a blanket, jersey, and hat with their favorite team’s logo.

Another option you can look at if you want to spend a little less is this single jumbo pack of 36 cards for $9.95. Or, if you have a local hobby shop in town, pop in and see if it sells individual packs for less. It may or may not, but if it’s a convenient stop, it may be worth asking.

5. Men’s Fuzzy Slipper Socks

Need a stocking stuffer for Dad? This set of cozy socks makes a great gift. For $17.99, you get a pack of five. And while they’re labeled as men’s socks by Amazon, the reality is that anyone can wear these socks if they’re the right size for your feet.

6. Burton and Burton Mornings are Ruff Ceramic Coffee Mug

Adulting is hard. You know what makes it easier? A warm cup of coffee in the morning and a mug with dogs on it. This Amazon find fits the bill. For $9.20, you get a 13-ounce mug that might inspire your spouse to brew some coffee at home rather than run up a credit card tab at Dunkin’ or Starbucks.

In addition to the items above, remember that candy and chocolate are also great for Christmas stockings. So if these specific picks don’t really suit your family, give the gift of something tasty. Amazon, for example, is selling a four-pack of Reese’s Santas for $9.98. But your local grocery store might have a nice selection of holiday candy at lower prices, so it pays to have a quick look and see what you can find.

Plus, candy is the kind of thing that can get banged around in transit. So you may be better off buying it at the supermarket than having it shipped, unless your kids are the type to get a kick out of a beheaded peanut butter Santa.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Maurie Backman has positions in Amazon. The Motley Fool has positions in and recommends Amazon and Starbucks. The Motley Fool has a disclosure policy.

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Improving your credit opens all kinds of financial doors. Do these three things now to get your 2024 New Year’s resolution off to a strong start. 

Improving your credit is an excellent New Year’s resolution, but if you don’t have a solid plan in place, you’re not likely to achieve your goal. Yes, I know there’s a month left until 2024. It’s not too early to start laying the groundwork, though. Here are three things you can do right now that will enable you to get off to a running start in January.

1. Check your credit reports

Everyone is entitled to free credit reports through AnnualCreditReport.com. The site is a bit of a misnomer. Since the start of the pandemic, everyone now has access to free weekly credit reports. You can use these to get a baseline and to measure your progress over time.

You’ll have to answer some personal identification questions first, and then you’ll be able to view your reports from all three bureaus. They should list all the credit accounts currently open in your name, including your balance and payment history. Make sure all of this information is correct.

If you find anything that looks off, notify the credit bureau and the financial institution associated with the account immediately. Your identity may have been stolen. Tackling this is a key step in boosting your credit score.

2. Record key credit card information

Payment history is the most important factor in calculating your credit score. It’s crucial to make at least the minimum payment on time whenever possible. Keeping a list of these due dates and minimum payments can help you do this.

Having these details handy is also helpful if you hope to pay down debt in 2024. One popular strategy — the debt avalanche method — involves making the minimum payment on all your cards and then putting any extra cash you have on the card with the highest interest rate first. When that’s paid off, you move onto the card with the next-highest rate, and so on. If you plan to do this, you might want to track each card’s annual percentage rate (APR) and balance as well.

3. Start comparing credit products

If you hope to open a new secured or balance transfer credit card to boost your credit in 2024, start comparing offers now. Take time to review all the cards’ fees and features. You should also look over the cardholder agreements, which you can find on the credit card issuers’ websites. If you have any questions, reach out to the card issuer for clarification.

You don’t have to apply for the card until 2024 if you’re not ready. But it might not hurt to start the process a little early. It takes time for the credit card issuer to review your application and send you your new card. If you do this right now, you’ll be ready to start charging things to it in early January, if not sooner.

You don’t have to do all these things at once. You could aim for just one a week if it feels like too much with the holidays. And if you don’t get time before 2024, that’s OK. Give them a closer look when life slows down a little. They won’t take long and they’ll give you a solid foundation you can build off of throughout 2024.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

If you’re using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR for 15 months, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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