The festive season is here and you might be looking forward to buying gifts for your loved ones, decorating your home, or indulging in some online shopping. However, festive shopping can also put a strain on your budget if you are not careful. You might end up spending more than you planned or paying extra fees and interest on your credit card bills.
Fortunately, there are some smart payment hacks that can help you save money while enjoying the festive shopping spirit. Here are some festive shopping tips and tricks that you can use to make the most of your festive shopping.
Follow Below Festive Shopping Tips:
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Use Cashback and Rewards Programs
One of the easiest ways to save money on your festive shopping is to use cashback and rewards programs offered by various payment platforms, banks, and merchants. These programs allow you to earn a percentage of your spending back as cash or points that you can redeem for future purchases or other benefits.
For example, you can use UPI Cashback Bonanza, which is a program that rewards you for making UPI payments through various apps like Google Pay, Paytm, PhonePe, etc. You can earn up to Rs. 500 per month by making at least 10 UPI transactions of Rs. 50 or more1. You can also use credit cards that offer cashback or rewards on specific categories of spending, such as online shopping, groceries, travel, etc. Some credit cards also offer welcome bonuses, annual fee waivers, or discounts on partner merchants.
However, before you use any cashback or rewards program, make sure to read the terms and conditions carefully. Some programs may have limitations on the amount of cashback or rewards you can earn, the validity period of the points, the minimum transaction amount, or the eligibility criteria. Also, avoid overspending just to earn more cashback or rewards, as this may defeat the purpose of saving money.
Compare Prices and Look for Deals
Another way to save money on your festive shopping is to compare prices and look for deals across different platforms and websites. You can use online tools like PriceBaba, MySmartPrice, CompareRaja, etc., to compare prices of various products across different e-commerce sites. You can also use browser extensions like BuyHatke, MakkhiChoose, etc., to get price alerts and coupons when you shop online.
Additionally, you can look for deals and discounts offered by various merchants during the festive season. For example, you can check out the Great Indian Festival Sale by Amazon or the Big Billion Days Sale by Flipkart, which offer huge discounts on various products ranging from electronics to fashion. You can also look for festive offers by other online platforms like Myntra, Ajio, Nykaa, etc., or offline stores like Big Bazaar, Reliance Digital, etc.
However, before you buy anything online or offline, make sure to check the quality and authenticity of the product. Also, read the reviews and ratings of the seller and the product, and check the return and refund policies. Avoid buying from unknown or untrusted sources that may sell fake or defective products.
Use the 15/3 Credit Card Payment Hack
If you use a credit card for your festive shopping, you might want to try the 15/3 credit card payment hack. This is a strategy that involves making two credit card payments per month: one 15 days before your statement date and another three days before it. This way, you can reduce your credit utilization ratio (CUR), which is the percentage of your available credit that you use. A lower CUR can improve your credit score and lower your interest charges.
For example, suppose your credit card has a limit of Rs. 50,000 and a billing period of 30 days. Your current billing period is from October 15th to November 15th. On October 30th (15 days before your statement date), you have a balance of Rs. 25,000 on your credit card. You decide to make a payment of Rs. 20,000 and reduce your balance to Rs. 5,000. Over the next 12 days (until November 12th), you spend another Rs. 10,000 on your card. On November 12th (three days before your statement date), you make another payment of Rs. 15,000 and reduce your balance to Rs. 0. Over the next three days (until November 15th), you spend Rs. 2,000 on your card.
By using this strategy, you have reduced your CUR from 50% (Rs. 25,000 / Rs. 50,000) to 4% (Rs. 2,000 / Rs. 50,000). This can boost your credit score and lower your interest charges if you carry a balance from one month to another.
However, before you use this strategy, make sure that you have enough funds to make the payments and that you do not miss the payment due date. Also, avoid using your credit card for unnecessary or impulsive purchases, as this may increase your debt and negate the benefits of this strategy.
Use Payment Gateway Hacks
If you are feeling adventurous, you might want to try some payment gateway hacks that can help you get free or discounted products online. A payment gateway is a service that processes online transactions between buyers and sellers. However, some payment gateways may have vulnerabilities or loopholes that can be exploited by hackers or fraudsters.
For example, some payment gateways may have hidden fields in their HTML forms that contain the price of the product. By changing the value of these fields, you can manipulate the price of the product before adding it to the cart. Another example is using an intercept tool like Burp Suite to modify the price of the product in the packet that is sent from your browser to the payment gateway.
However, before you attempt any payment gateway hack, be aware that these are illegal and unethical activities that can land you in trouble. You may face legal action from the payment gateway or the merchant, or even criminal charges from the authorities. Also, you may expose yourself to security risks such as malware, phishing, or identity theft. Therefore, we do not recommend or endorse any payment gateway hack, and we advise you to use them at your own risk.
Conclusion
Festive shopping can be fun and rewarding, but it can also be expensive and stressful. By using some smart payment hacks, you can save money and avoid unnecessary fees and interest on your purchases. You can use cashback and rewards programs, compare prices and look for deals, use the 15/3 credit card payment hack, or even try some payment gateway hacks (at your own risk). However, remember to shop responsibly and within your means, and avoid overspending or buying things that you do not need or want.
