Good luck finding great deals. With inflation and supply problems, you’ll need to work harder to save anything. Here’s how to do that and still keep your holiday cheer.

3 minute read

Nothing feels better than finding that perfect holiday gift for a loved one – and doing it at a discount. That’s so 2019, however. For 2021, supply chain issues mean you might not find what you’re looking for, and inflation means you might not like what you’re being forced to pay.

“Consumers should expect to pay closer to full price on a range of products this holiday season,” The Wall Street Journal has reported, “including on Nike sneakers, Coach handbags and Ralph Lauren Polo shirts.”

Meanwhile, CNN has reported, “Many stores won’t be able to get the merchandise that should have already arrived for the start of the holiday shopping spree. And when stores do sell out of items they have, they risk staying out-of-stock on those items for much longer than usual.”

These news reports make it seem like Scrooge and the Grinch are both coming to your holiday dinner. The best way to avoid the holiday blues? Shop early. That’s what the smartest respondents to’s Holiday Spending Survey did. Nearly 4 in 10 started before now, and 15 percent started this summer.

While that’s nice for them, what about you? If you didn’t get an early start, you can still buy what you need at the price you want – if you follow this advice…

There are two other strategies that I didn’t have time to delve into in that short video. These are some advanced tactics, but if you have the free time and the brain space, you’ll save even more. Both are about credit cards, which makes sense when you consider what NerdWallet’s 2021 Holiday Shopping Report reveals: “Three-quarters of 2021 holiday shoppers (75%) will use credit cards to pay for gifts, charging $620, on average.”

1. Open a new credit card right now

This seems like terrible advice on multiple levels. First, I’ve spent a three-decade career – and wrote not one but two books – warning Americans against having too many credit cards and charging too much on them.

It’s not that credit cards are evil, it’s just that they require time and attention to use correctly. One example of that: If you don’t have a rewards card or travel card, you can still get one right now. While inflation and the supply chain have devastated many sectors, credit card issuers are still offering great deals – because they’ve read the research and know that Americans will be whipping out the plastic this holiday season.

So even if your credit score was too low to get the best rewards cards in the past, you might want to try again. I’ll just repeat myself: Be careful. Don’t charge more than you can afford, because the most lucrative rewards will get wiped out in one month if you have to pay steep interest rates.

2. Open a new card later

Once again, I’m advising that a new credit card might be a good idea – this time right after the holidays. Not just any credit card, but a balance transfer card. These cards let you move your high-interest balances from other cards and put them all on one card. That card has a lower interest rate – sometimes as low as zero.

What’s the catch? Those lower interest rates are temporary. Some last only six months, others a year or even 18 months. But they do end, and if you haven’t paid off the balance by then, you can get socked with a higher interest rate than you had before.

Obviously, the credit card companies offer these cards because many customers fail to pay off their balances, which means hefty profits for those companies. Surprisingly, however, conducted a poll before the pandemic and found, “Two-thirds pay off the consolidated balance before the teaser rate ends.”

With NerdWallet estimating that every U.S. adult will rack up, on average, $620 on their credit cards just during this holiday season, it might be worth rolling over all your balances to one of these cards – if you have the money and focus to pay off those balances before the introductory offer expires.

Learn more about by reading’s report, How to Transfer Credit Card Balances, and if you want even more holiday shopping tips, check out 5 Tips for Safer, Smarter Holiday Shopping.

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About the Author

Howard Dvorkin, CPA

Howard Dvorkin, CPA

I’m a certified public accountant who has authored two books on getting out of debt, Credit Hell and Power Up, and I am one of the personal finance experts for I have focused my professional endeavors in the consumer finance, technology, media and real estate industries creating not only, but also Financial Apps and Start Fresh Today, among others. My personal finance advice has been included in countless articles, and has appeared in the New York Times, the Washington Post, Forbes and Entrepreneur as well as virtually every national and local newspaper in the country. Everyone should have a reason for living that’s bigger than themselves, and besides my family, mine is this: Teaching Americans how to live happily within their means. To me, money is not the root of all evil. Poor money management is. Money cannot buy happiness, but going into debt always buys misery. That’s why I launched I’m glad you’re here.

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