Whether your financial goals include building an emergency fund, paying off debt, or saving for retirement, smart spending is critical to reaching those goals. Smart spending involves:
- Conscious decision-making.
- Prioritizing needs over wants.
- Maximizing the value you get from each dollar spent.
There are many ways to stretch your budget, including shopping around, utilizing coupons, and taking advantage of cash-back apps.
Look for Sales
In addition to scouring the internet for online coupons, it’s essential to look for sales at different stores. Many retailers have special sale days at the end of each season or throughout the year. These events are an opportunity to score some of the year’s best deals.
It’s also wise to compare prices on similar items when shopping. Sometimes, a store will advertise a low price for an item in hopes that you won’t notice their additional costs like shipping. Other times, another retailer offers a more competitive deal with a bonus, such as free shipping.
Remember that sometimes businesses send follow-up emails or offer discount codes for things you’ve left in your cart at their online store. These are called abandoned cart promotions and can be a great way to save money on something you plan to buy.
Another way to get great deals is to keep up with your favorite shops and brands on social media. A lot of brands reward their followers with exclusive discounts and flash sales. Sometimes, you’ll even find cashback apps that partner with specific retailers to offer a percentage of your purchase as a rebate! These savings can add up.
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Check for Coupons
Coupons can save you money on needed items, but using them smartly is essential. For example, a store coupon and a manufacturer’s coupon can be combined to reduce the price of an item even further. Check the fine print on your coupons to see what restrictions apply, and ask a store employee if you need clarification.
Some coupon sources are traditional, such as Sunday paper coupon booklets or local grocery stores, but many websites, apps, and social media groups also offer digital coupons. These can be clipped, scanned, and applied to your cart online. Some apps, such as Ibotta and Rakuten, can be used on multiple shopping sites and will automatically search for applicable discounts. These apps can save you time by eliminating the need to hunt for coupon codes.
However, using coupons may lead to impulse buying. Avoid overspending by making lists and sticking to them before heading to the store. And remember, a coupon for an item does not mean it’s a great deal. If the item is something you don’t need or would buy at the total price, a discount may not be worth it.
Leaving items in an online shopping cart for a day can sometimes yield exclusive discounts. Retailers send additional offers to entice shoppers close to checking out, and the extra savings can help your budget stretch further.
Look for Freebies
When it comes to using coupons, the goal is not just saving money. Finding a bargain or freebie makes your dollar stretch as far as possible. Whether you’re shopping for groceries, household items, or electronics, there are plenty of opportunities to score significant savings on products and services you will buy anyway.
One of the most common ways to find freebies is by checking online coupon databases and store apps. There, you’ll find offers such as free items with purchase, buy-one-get-one deals, and gift cards with a minimum purchase. Other ways to find freebies include signing up for a retailer’s loyalty program or taking advantage of its price-matching guarantee.
You can also use a browser extension that tracks and automatically applies coupons to your cart when you’re ready to check out. However, be prepared for retailers to flood your inbox with emails and send targeted advertisements based on your buying history. To avoid this, set up a separate email for your coupon-related correspondence and turn off cookie tracking in your web browser settings.
Another great way to get manufacturer coupons and samples is to contact the company directly. Many brands offer a “contact us” link on their website that directs you to an email form, live chat feature, or customer service phone number. Some even have a form that lets you request coupons or free samples in exchange for your honest feedback.
Look for Deals on Services
Online shopping has become a regular part of many people’s routines. From restocking toilet paper to purchase the latest trendy sneakers, consumers can buy virtually anything with a few clicks or taps. However, before you restock your pantry or buy that new pair of kicks, it’s essential to ensure you get the best deal on those items.
The internet is all the websites and apps that search for coupons and discounts on almost any product you can imagine. In addition, some retail stores and manufacturers offer coupon pages on their websites.
Popular sites will compare prices across retailers to ensure you get the best deal possible.
Additionally, you can use browser extensions to search and apply coupons to your cart automatically. In addition to reducing the time you spend searching for deals, these tools can help you avoid unnecessary purchases that will drain your budget.
While it may seem tempting to use discounts to increase sales, remember that these offers can quickly become an addiction if not appropriately managed. A better strategy is to focus on delivering a great customer experience that will allow you to build brand equity rather than relying heavily on discounting.
