One of the questions many of my bankruptcy clients ask is “What can I do to save money on a daily basis?” While there are lots of things to consider to lower your expenses, some things are more practical than others. Here is a list of things I have seen work, and that I use myself:
For everyday items like groceries and household goods:
• Wal-Mart will match advertised prices of their competitors in the store. They also have a method where you enter your receipt number online, or scan with their app, and they will check competitors’ prices for you. If they find a lower price they issue you an e-credit which you can redeem in store.
• Target will match in-store a price from their website. This is only done at the service desk. They also have an app called cartwheel that is essentially like digital coupons. They also have coupons on their website. Also check allthingstarget.com for weekly ad and coupon matchups to help you save money on things you need.
• Kroger has digital coupons and an app to add the coupons to your Kroger card while you are in the store if needed. You can also see what coupons you have while you are in the store.
• Always shop sale ads and coupons. Match up what you can. Don’t buy things you don’t need. Don’t “extreme coupon.” Everything expires, and you likely aren’t going to use 100 boxes of cereal before they expire.
For online purchases:
• ALWAYS check for a promo code before submitting your order. Retailmenot.com is a very good source of coupons and promo codes both online and instore. They have a free app.
• Go through sites like Ebates.com. You get cash back when you go through Ebates.com, and they usually have a good list of promo codes as well. Here is a referral link to their site.
For bigger purchases:
• Don’t buy big on impulse. Just about everything will go on sale! Know the seasonal sales cycles. A simple Google search will help you find websites that list seasonal sales cycles.
• Shop around and price compare for big purchases.
General shopping tips:
• Make sure you know want you need versus what you want. Wants may have to wait. Make sure your needs are covered first.
• Check websites that list savings, sales, etc. One such website for baby/child savings is www.babycheapskate.com.
• Budget! Know where ALL of your money is going. And include in your budget your emergency fund savings.
• Get a savings account to create an emergency fund. No emergency is cheap, and new loans will be expensive. See if you can automatically transfer money per paycheck after it’s deposited into checking. Also see if your employer who already direct deposits will split your deposit between checking and savings.
• Teach your kids about money. I’ve heard more than once “why did my parents not tell me this?!” I have no answer for them other than they can now teach their own children about it once they get a handle on the situation.
Do you have other gold nuggets of how to save money? Let me know and I’ll add them to this post!
Attorney Alissa Gay 