Saving money may not seem as easy these days given that the cost of everything from groceries to clothing has gone up, but there are several tricks that you can use to stretch your dollars even further and there’s no one better than money-saving expert Andrea Woroch to help us do just that.
Keep reading as Woroch breaks down every way imaginable that you can get more bang for your buck on your next shopping trip.
1. Install browser extensions.
“Hunting for bargains is a bit of a sport — you have to know where to look to find the best deals. Luckily, you can download browser extensions that do the work for you to save time and money.
For example, coupon plug ins like Sidekick automatically search for, test and apply any available coupons to your online cart at check out, adding the code with the deepest discount for you. Other tools like PriceBlink provide instant price comparison so you never miss out on a cheaper deal available at another retail site and Karma which notify you to price drops for items added to your wish list.”
2. Review price history.
“Retailers are known to fluctuate prices in order to maximize profitability based on changes in demand and may use tricks such as inflating the original price to make a current sale look like a better value. But a little research can go a long way in helping you determine the best time to buy. Tools like Camelizer from CamelCamelCamel.com and Honey show you changes in prices over a one-year period, allowing you to determine if a current sale is in fact a good deal or if you should wait for the price to drop to a previously lower level.”
3. Monitor price drops after purchase.
“Comparing prices and tracking sales before you buy is key to saving, but don’t stop there. You should continue monitor prices even after purchase. Many major retailers offer price adjustments. This means, you could qualify for money back for the difference in price in the event an item you recently bought goes on sale shortly afterwards. Price adjustment policies vary from store to store, but can range from a few days, up to two weeks, after purchase. Though monitoring sales post
purchase sounds tedious, there are tools that can help. For instance, sign up for the Paribus app which tracks prices of online purchases linked to your email, alerting you when something you recently bought goes on sale and will even take the extra step to request money back on your behalf.”
4. Look for used before new.
“Whether you’re in need of a new clothing, home goods, sporting gear or an electronic, looking for used options can cut spending dramatically. Finding quality preowned options is easier than ever thanks to the endless resale marketplaces available at our finger tips.
Shop gently-used clothing at Poshmark or Tradesy, snag savings on preowned designer brands at TheRealReal , find used sporting gear like bikes, soccer cleats and skis at Sideline Swap , pick up like-new home goods and furniture at OfferUp and find deals on certified refurbished gadgets and kitchen appliances from reputable retailers like Best Buy, Amazon or eBay.”
5. Seek out brand guarantees.
Several brands that sell clothing, tools and luggage offer lifetime guarantees, promising to repair or replace a faulty item free of charge. Although you may have to spend more upfront to purchase these items, you will ultimately save you more overtime when not having to replace them.
For instance, clothing brands like Land’s End, The North Face and Columbia Sportswear say they will protect against rips and damages incurred during their intended use with their warranty service. Meanwhile, Craftsman and Mastercraft promise to repair or replace hand tools that fail during normal use for free. And, if you buy a bag or suitcase from brands like JanSport, Osprey, Red Oxx or Briggs & Riley, you can enjoy full repairs and product defects for life with no exclusions.”
6. Refer family and friends.
“Word of mouth is one of the most effective forms of marketing and many companies are willing to pay you for promoting their products and services to family and friends through a referral bonus or store credit. Generally, the retailer or business provides you with a custom link to share on social media or via text and email. When someone signs up or makes a purchase through your personal link, you will earn the referral payout or credit that you can use towards a future purchase which is like free money. For instance, Away luggage offers $20 for every friend you refer who makes a purchase on their site and Sam’s Club promises to issue a $10 e-gift card if you get someone to buy a new membership, and they’ll get a $20 e-gift card to use towards a new purchase.”
7. Scan direct-to-consumer liquidity sites.
“Have you ever thought about what happens to all your returns? The truth is, only a small percent of all product returns make it back on store shelves. Rather than dump the rest, retailers sell rejected merchandise to third-party liquidators who sell it off at a discount even if there are no defects with the goods. The good news is you can scoop up deep discounts on popular merchandise by shopping direct-to-consumer liquidity sites such as blinq.com or Secondipity which sell everything from home goods and furnishings to electronics to power tools. Keep in mind, inventory at these sites is limited
so don’t wait too long to make a purchase decision or you may lose out.”
8. Wait for end-of-season sales.
“Following the rules of supply and demand when shopping can help you save a lot of money. Buy when demand for the item you need for want is low in order to get a bigger discount. Thus, shop at the end of the season for which that item is promoted for such as cold weather clothing and boots toward the end of winter and swimsuits and sandals around Labor Day. Generally, you can find coupons to apply to end of season clearance styles to save even more.”
9. Calculate cost-per-wear or per-use.
“Calculating the cost per wear helps you determine when an article of clothing or pair of shoes is worth buying and how much to spend. For instance, spending $200 on a black pair of boot that you’re likely to wear on a daily basis and hold on to for multiple seasons is a much better purchase when you look at the cost per wear compared to spending the same amount on a trendy pair of red high heels you’re likely to only wear on limited occasions. Use this cost-per-use calculator before your next purchase.”
10. Stick with designer collaborations.
“You no longer have to shell out hundreds of dollars to get high end fashion or home goods. These days, you can find designer collaborations at big box stores at more affordable prices including Reese Witherspoon’s Draper James handbags at Kohls, Threshold designed w/Studio McGee at Target and Brandon Maxwell at Walmart.”
11. Dig through discount retailers.
“You can find name brand goods at a fraction of regular retail price available at discount stores like Marshalls, Nordstrom Rack, DSW and Century21, offering an average of 60 percent savings. It may take a little extra digging through poorly organized racks, but the effort will pay off when you find what you need for more than half the cost. Head to the clearance racks first to get even deeper discounts on already reduced prices. Bonus—many of these stores now offer online shopping so you can browse from your phone or computer.”
12. Haggle your way to savings.
“Most people know they can negotiate the price of a car or even a monthly bill, but don’t overlook the power of haggling when shopping. Many retailers these days are willing to adjust prices based on competitor offers and even high-end department stores like Nordstroms and Bloomingdales are playing ball. While they may not prominently promote this savings hack, always ask at checkout if they will match any sales you’ve found elsewhere. You can quickly compare prices using the RedLaser app if you’re shopping in person or run a Google search online.”
13. Subscribe to save more.
“Snag an exclusive coupon code available to new email or text subscribers by signing up to receive promotional alerts. You will typically receive a deal for up to 20% off your first purchase which can amount to significant savings especially on big ticket purchases. You can always unsubscribe after you hit the buy button if you prefer to avoid future marketing messages.”
14. Get a new credit card.
“When was the last time you analyzed your credit card rewards program? Data compiled from a credit card matching tool Gigapoints found that the average cardholder misses out on $1,000 in cash back each year by using the wrong type of reward card. Look at your year-end statement to figure out where you spend the most (i.e. groceries, travel, gas, etc.) and find a card that gives you more cash back, miles or points for those types of purchases to maximize your reward earnings. A flat-rate cash-back card could also help you put more dollars back in your pocket. For example, the Bread Cashback American Express Card gives you an unlimited 2 percent back on every purchase and at ever retailer with no spending limit.”
15. Use cash-back apps.
“Even if you prefer not to pay with a credit card or you simply want to earn more back on each purchase, use these cash-back apps: pay with the Slide app at one of their partner stores to get an automatic 4% cash back added to your account, take pictures of your receipts using the Fetch app to earn points good towards free gift cards to stores like Target, Walmart and Amazon; and use the Coupon Cabin mobile app to earn cash-back on mobile purchases, whether you’re ordering take out from Uber Eats or new shoes from Sketchers.”
16. Pick up a discount gift card.
While gift cards make perfect presents for loved ones during special celebrations, you can tap into these pieces of plastic to score extra savings when shopping for just about anything. In fact, gift card resale sites like Raise, Gift Card Granny and CardPool.com sell other people’s unwanted gift cards at a discount, giving you some money off the top which you can use in addition to any other discount for maximum savings.”
