As a financial coach, it’s important to “practice what I preach”. In this current environment of increasing costs of literally everything, even people who never paid attention to their finances are paying attention now. I am by no means perfect with my budget, but over the years I have developed a few money habits that have helped me save some money. So this month, I’d like to share with you a few of my saving money hacks.
Hack #1:
BOGOS. I am always looking for sales and discounts. This is especially important when hitting the grocery store, as the cost of food has skyrocketed. There is a grocery chain in my area that frequently has BOGO (buy one, get one) sales on various items. If I’m being organized, I look at the BOGO’s (or other discounts) offered for the week and then do my meal planning around those deals. You can especially save big on meat and pantry staples that you buy on a regular basis. Even if I haven’t had time to look in advance, if something is on BOGO that I use frequently, I take that opportunity to stock up while I’m at the store. One word of caution is that it’s rumored some stores bump up the prices of items when they put them on BOGO to make it seem like you’re getting a better deal. So just be aware of what the normal price of items should be so you don’t fall into that trap. Also, just because it’s BOGO, doesn’t mean you need it! If it’s not something you would normally buy, then skip it altogether.
Hack #2:
USE ALL THE APPS. Most stores have some kind of app these days to track your purchases and give you loyalty rewards. Take advantage of those store apps if it’s somewhere you shop frequently. And don’t forget to use your rewards before the expiration date. Sometimes they will give you special coupons through the app to save even more. I also utilize apps like Fetch and Upside to scan my receipts for points to convert to gift cards. It may seem like small amounts, but occasionally they give bonus points and over time it can add up! I always get gas at the same gas station near my house, and they always have an Upside offer for a few cents off each gallon of gas. You scan your receipt and that savings accumulates into your account, where you can cash it in for gift cards. Which brings me to my next hack…
Hack #3:
GET GIFT CARDS FOR POINTS. This not only gives me extra money, but I also use it as a budgeting tool. For many apps like Fetch and Upside, you accumulate points/money in your account which you can cash in for gift cards. I choose gift cards for places where I’m always spending. My two biggest are Starbucks and Amazon. Then I set a rule for myself that I’ll only treat myself to Starbucks if I have money on a gift card to use. That curbs my spending and also makes me look forward to getting free Starbucks! A bonus hack is to get the Starbucks app and load the gift card on the app. If you use a gift card to pay, you earn more “stars” which leads to more free Starbucks! Same concept with Amazon gift cards, it helps me curb some of the spontaneous spending (on wants, not needs) if I know I have to pay in full without using a gift card.
Share your Saving Money Hacks
I hope this short list of hacks has given you some ideas to save more money in your everyday spending. I’m curious to know what other hacks you have worked into your daily spending habits? What is working for you? Let me know your secrets and I’ll share them in a future post for saving money hacks, part two. You’ve got this!
