Mrs. Dow Jones Shares Her Best Advice for Holiday Budgeting and Last Minute Shopping (EXCLUSIVE)

It's the most wonderful (and expensive) time of the year. Budgets usually go out the window when it comes to holiday shopping — and personal debt goes up.

However, it doesn't have to be like that in 2024.

In an exclusive interview with Distractify, Hailey Sacks, better known as, Mrs. Dow Jones, partnered up with American Express Rewards Checking and shared her best holiday budgeting advice.

D: What is your best advice for budgeting during the holidays?

MDJ: MAKE A PLAN! Figure out in advance what you can spend while still hitting your financial goals and be ruthless about sticking to those targets. And remember- don’t spend what you can't afford. No gift is worth going into debt for.

D: What's the biggest mistake you see young people make when it comes to credit cards/spending?

MDJ: Definitely not sticking to their budget. It’s important to set a hard budget and stick to it.

D: How should consumers use Amex Rewards Checking to earn points on every purchase this holiday season?

MDJ: I love this question! By using Amex Rewards Checking you can earn Membership Rewards Points on eligible Debit Card purchases* to make holiday shopping more rewarding. There are also no monthly account fees, no minimum deposit requirements, and no fees to apply for an account. Plus it has a high APY, which makes signing up a no brainer.

D: What are some tips/tricks for finding deals and discounts to make sure you are getting the best price?

MDJ: The best tip to find deals is to make sure to set up price alerts and use price comparison websites. Remember — if we don’t have to pay full price — we don’t!

D: What is the most common finance/budget question you get in your DMs?

MDJ: The most common issue I hear from folks is keeping track of all of their accounts but with the Amex App it’s easy to see everything in one place.

D: For those with credit card debt, what is your best advice for approaching holiday shopping?

MDJ: Get creative with DIY gifts and resist those tempting sales that will only dig you deeper into the debt pit. You can still spread holiday cheer without spending a ton! And just overall- treat the holiday season as an opportunity for financial self-care and give yourself the gift of making a dent in your existing debt through strategic spending, and maybe passing on that treat yourself gift this season.

D: There are so many finance influencers on social media today, what would you say young people should keep in mind when following advice they might come across on TikTok, Instagram, etc?

MDJ: Just because someone looks fabulous and seems confident doesn't mean they're actually a financial expert — always check to see what outlets they have been featured in and make sure their advice doesn’t sound too good to be true.

Getting good with money should be boring and take time. Anyone who is selling you an easy fix is probably a scammer.

*Membership Rewards® Program for Checking and Debit

When you open an American Express® Rewards Checking Account you will also receive a Membership Rewards® Account (a Rewards Account), in which you will earn one Membership Rewards point for every two dollars of eligible Debit Card purchases. Eligible Debit Card purchases are purchases of goods or services, minus returns and other credits, for anything except: cash withdrawals, cash equivalents, person-to-person transactions, purchases of traveler’s checks, American Express Gift Cards bought online, purchases or reloading of prepaid cards, and foreign exchange fees and fees for account services. You can redeem Membership Rewards points for a deposit into your checking account. Visit membershiprewards.com/pointsinfo to learn what other redemption options may be available. If you also have a Rewards Account in connection with a Card Account, your Rewards Accounts can be linked and you will have access to all redemption options offered with that Card Account. For more information, visit membershiprewards.com/terms.