Summarize this content to 2000 words in 6 paragraphs My strategy for affording gifts is equal parts planning and pivoting toward savvy ways to spend and save during the holidays. I use my Amazon Prime Visa to get a little more stretch out as I’m shopping Black Friday and Cyber Monday deals.By doing a little advanced planning and using these strategic tips, my family is able to reap the benefits (and rewards) of the Prime Visa without overspending.How I use the Prime Visa to maximize holiday savings (and avoid debt)I don’t use any credit card to spend beyond our means, ensuring we always have the funds in the bank account to pay the bill when it comes due. Leveraging the way we spend is also a financially savvy move that helps us save on holiday festivities.Step 1: Make a list and budget earlyDeciding how we’ll spend our holiday dollars starts early. There are three reasons for this. First is to make sure any big-ticket items like electronics or expensive toys are on my shopping list for Amazon Black Friday deals. Second, I can draft a budget to follow through the entire season. And finally, shopping early means I can save by choosing slower shipping options with better built-in rewards. Smart Money Advice on the Topics That Matter to You CNET Money brings financial insights, trends and news to your inbox every Wednesday. Step 2: Start a holiday sinking fund (yes, even now)Consumers expect to spend an average of $902 this year on holiday gifts, decorations and food, according to the National Retail Federation. Coming up with that kind of dough requires some planning, So at the end of summer, I started a holiday sinking fund, squirreling away an extra $250 every month into our savings to cushion our Christmas spending.While you might be a little late, there’s still time to set aside money each week that you can put toward gifts and holiday travel. Even an extra $25 a week could help you save $100 before the new year — every dollar helps when you’re trying to avoid holiday debt. If we’re a little tight, I’ll consider taking on some extra work or a side hustle to find some wiggle room in our family’s budget. Smart Money Advice on the Topics That Matter to You CNET Money brings financial insights, trends and news to your inbox every Wednesday. Step 3: Put it all on the cardMy Prime Visa sees a lot of action generally, but especially as the holiday season approaches. To start racking up points, I pivot midsummer to using my card for every purchase, including monthly expenses like utilities, gas and groceries. That lets me accrue extra Amazon reward points to afford hot toys or trendy gifts. Even if you don’t have a ton of rewards banked this year, you can start earning Amazon reward points on this year’s Black Friday haul to save up for next year. Chase/CNET You can get a $200 Amazon gift card to shop Black Friday sales when you’re approved for the Prime Visa. Tips for using the Prime Visa to earn rewards for the holidaysWhile you do need to pay a little extra to be a Prime member ($15/month or $139/year), membership comes with plenty of benefits that go beyond free shipping on Amazon’s platform. Here are a few ways you can get the most out of Amazon’s rewards tailored specifically for Prime Visa cardholders. Lean into that new cardholder bonusYou’ll get an $200 Amazon gift card instantly upon approval. That’s essentially extra cash in your pocket.Shop at Amazon, Amazon Fresh or Whole FoodsIf you’re a frequent Amazon or Whole Foods shopper, the Prime Visa is a no-brainer because of the points potential. You’ll earn unlimited 5% back at Amazon.com, Amazon Fresh and Whole Foods Market, as well as Chase Travel purchases. Plus some select Amazon purchases offer as much as 10% back for certain products or shipping options.Refer a friendIf you already have an Prime Visa and aren’t eligible for the new cardholder bonus, don’t despair. You can still earn a $50 Amazon gift card for each person you refer for an Amazon Visa or Prime Visa, up to 10 people or $500 per year. Use it instead of other cards In addition to earning points on Amazon and at Whole Foods, you can earn 2% back by using your Amazon Prime Visa at a variety of locations including at restaurants and gas stations and for local transit and commuting (including rideshares). Other purchases that don’t fall into these categories can still earn 1% back when you use the card. Yes, other cards can earn more rewards, but I find the Prime Visa is an easy way to earn points I use specifically for holiday shopping.Can you spend to save for the holiday season? It depends.My strategy of leaning into credit cards to afford Christmas only works because I spend within my means. If getting the Prime Visa will entice you to shop until you drop, don’t yield to temptation without setting firm limits and having a holiday shopping list in hand.The key to my strategy is to stick to your budget and not to be lured into buying things just because they’re on sale. Be like Santa: make a list and stick to it.
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