4 Ways To Spend Smartly And Get Rewarded While You’re At It

The easiest way to get rewarded? With a credit card that allows you to earn cash back on everything you buy effortlessly.

Getting ready to embark on a big trip you’ve been waiting years to take? Planning a new home improvement project? Or do you simply love online shopping? No matter what you’re spending on this year, you’re probably looking for ways to make your money go further on purchases both big and small.

Here are a few tips to spend smarter and get rewarded while you're doing it.

1. First things first, make a spending plan, be realistic about what fits in your budget, and do your best to stick to it.

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Sure, this seems obvious but that doesn't mean it's not important. According to a recent Bank of America survey, 50% of Americans are vowing to stick to a budget in order to increase savings in 2023. Regularly reviewing your budget as your priorities change can help address financial anxiety and set you up to save more in the long term.

2. Use a credit card that can help you earn cash back on everything you buy.

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With the Customized Cash Rewards Credit Card from Bank of America®, you can earn 3% cash back on a category of your choice each month. The 3% rewards categories include gas, dining, travel, online shopping, drug stores, and home improvement/furnishings. Plus, you can earn 2%* cash back at grocery stores and wholesale clubs, and 1% cash back on everything else you buy. It’s an effortless way to put a little extra cash back in your wallet without changing a thing about your shopping habits. And as your rewards add up, they can help offset your spending throughout the year.

3. Consolidate your finances — like your savings, checking, and credit card accounts — to one banking institution that recognizes you for your loyalty.

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Not only is this more convenient, it can also help you increase the rewards, perks, and benefits you receive from your bank. For example, members of Bank of America’s Preferred Rewards program earn an additional credit card rewards bonus, which can boost cash back earnings even higher.

4. Brush up on your financial knowledge.

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Whether you do independent research, use online resources or classes, or seek professional advice, the more you know, the more you can save.

Now put it into practice:

So that trip you’ve been planning? Use the Customized Cash Rewards Card to set your category to travel when you’re ready to book those flights and hotels. The month before your trip, choose online shopping to make sure you travel in style. Then, during your vacation, switch your category to dining so you can get all the good eats as you bask in the glory of finally making it to your dream destination. When you use a cash back card like this one, it’s almost too easy to get rewarded for doing the things you love — especially when you’re a Preferred Rewards member, too. All that time you spent sticking to your budget? So worth it.

Getting home from vacation is the perfect time to reassess your finances, do some research, and think about what financial goals you want to reach next. Maybe it’s the home improvement project you've had on the back burner. Whatever the goal is, you can keep getting rewarded for everyday spending even when you’re home and back in your daily routine as you plan for what’s next.

Start rewarding yourself with the Bank of America® Customized Cash Rewards Credit Card. Apply now to get a $200 online cash rewards bonus offer**.

*Earn 3% and 2% cash back on the first $2,500 in combined choice category and grocery store / wholesale club purchases each quarter, then earn an unlimited 1% thereafter.

**$200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.