Phew! Time flies.
We are just a month away from celebrating Christmas. It’s a season where we embrace the spirit of gifting and generosity. Perhaps, you intend to:
- Express love to your loved ones with Christmas presents
- Host an awesome Christmas party!
- Set the Christmas mood with Christmas decorations
- Have a Christmas get-away!
- Or simply, reward yourself with a spectacular Christmas outfit.
Sounds exciting, isn’t it?
Now, just hold your horses for a moment. Before we head down to the nearest mall, it is always a good practise to have a plan for spending first before spending. Yup, I know it sounds corny. But, the old school way of ‘having a plan’ is certainly helpful to keep our finances in order.
Here, I’ll share one practical way that I’m still using to get the bang for the buck on my spendings.
Let me illustrate.
Presently, I have a Maybank 2 American Express Platinum Card which I’ve been using it to pay for my business-related expenses for several years. These expenses include many online service providers which are billed in US Dollars such as email marketing, Facebook advertisements, and web hosting services.
Recently, I was informed that Maybank is having a ‘5% Weekend Cashback’ promotion on my credit card. Hence, I began to look into it and found the following details on the promotion.
- A cardmember must spend a minimum of RM 500 in a calendar month.
- It is calculated based on total ‘Weekend Spending’ in a calendar month.
- It is capped to RM 50 a month.
Armed with this information, if you have the same Maybank cards as I do, you can time your spendings transactions on a Saturday or Sunday. If your transactions are worth more than RM 1,000, it allows you to qualify for the full RM 50 in cashback.
From this simple act, you would enjoy 5% discount on your spendings. So, here’s another good money tip:
‘Be Aware of the Latest Promotion on Financial Products.
You Might Save Some Money from them.’
In addition, I’ll continue to collect points for using my credit card. Maybank 2 American Express Cards earns 5X points for RM1 spend. From which, I would convert these points into vouchers from multiple merchants. Now when it comes to redeeming merchant voucher, I think in term of tax savings. For example, if I buy books, I can use the receipt to claim tax relief. Effectively, I will be paying books with my before-taxed money. But if I do groceries shopping, I have to pay with my after-taxed money. So it is best to redeem points for voucher to buy stuff that I can’t claim for tax relief or business expense. My favourite vouchers are with merchant like Aeon, Parkson, Tesco, Giant, Isetan and Guardian.
So I checked on my latest credit card statement. I have 401,906 points, which is equivalent to the value of RM1000 Aeon shopping voucher.
So, let me make a quick summary. How do you get the most out of your Christmas shopping with a Maybank 2 American Express Credit Card?
- Buy your Christmas gifts, decorations, and other itineraries on a weekend (Saturday or Sunday).
- Spend at least RM 500 on the weekends to get the 5% cashback.
- Collect Points which could be exchanged for vouchers in the future.
If you wish to find out more, you’ve got to be quick because:
- The campaign ends on December 31, 2016.
- The total amount of cashback to be awarded by Maybank is capped at RM 1.5 Million per month.
- Eligible Cardmembers will be tracked based on a first come first served basis. This refers to whoever is earlier in meeting the minimum spending of RM 500 in a calendar month.
- Please click here to check out the promotion details of Maybank’s 5% Weekend Cashback.
I believe you have found yourself a couple of useful tips to be a smart spender in this season of Christmas shopping. With that, I would like to wish you a fun time of shopping and a blessed Christmas ahead.