Money Saving Apps

I’ve been putting this one off for a hot minute, literally months, but its time to nut up or shut up so here we go.

Image result for woody harrelson nut up or shut up

We all like to save money, buying something on sale, finding that deal online, or working your credit card for maximum cash back is always a good feeling. Today I am going to share with you some of the apps I use to save money. Let’s start with Drop.

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Drop is an app that rewards you with points when you spend money at certain places. You can individualize your account a little bit based on your shopping preferences so its not a cookie cutter mold you must fit into to use this app. All that is required is linking your credit/debit cards and it’ll track when you make purchases at certain place that they reward. To share some details with you all about my personal account I currently am rewarded for Walmart, Starbucks, Chipotle, McDonalds, and Target. Below is the screen displaying those offers. As well as my rewards and the general reward page.

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Overall, I’ve cashed in $10 using this app and it can be set up in under 10 minutes and requires no additional work outside your normal spending habits. There are also plenty of opportunities to earn bonus points and whatnot to get to your rewards faster!

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My drop referral code is: ay0x4

Receipt Hog is the next app we’ll look at. It’s self-explanatory, it’s an app that you upload receipts to and it pays you for those receipts. No credit or debit cards need to be linked, nothing like that, just snap a pic of the receipt and upload and answer a 30 second survey and boom you get some coins. Those coins can cash in for an amazon gift card, visa debit card, or PayPal credit. I currently am stashing up my coins for a bigger payout, but I’ve passed the $5 mark. I have been super hit or miss with receipt hog, just with small transactions like at a gas station or something like that I don’t always ask for the receipt and I lose out that potential from the app. Overall, it’s an easy app to use however it isn’t as lucrative or easy as Drop since that is fully automated.

Ibotta and Checkout51 are going to be compared at the same time since they are very similar. They are online app-based coupons essentially. I don’t know if you or your significant other or parents were ever coupon people, but my mom use to be so that is how I can relate this. I would normally make my grocery shopping list and then go through the apps and see if anything I need had a coupon for it, they have most major grocery stores, so it shouldn’t be an issue to find your grocery store of choice. For both they require $20 in coupons to be redeemed to be able to withdraw your savings. I prefer Ibotta compared to Checkout51 due to its ease of use, how its organized, and I think it has better coupons than Checkout51. Examples can be found below.

Ibotta:

Checkout51:

My Ibotta referral code is: ficlsui

My checkout51 referral code is: https://checkout51.app.link/GN411WUkOS

For online shopping I use honey and RetailMeNot however I know there are tons of online discount sites, coupons, etc. Honey is a web browser installment that compares price history of an item you are planning to buy. RetailMeNot is an online search engine for coupon codes. I generally use both prior to purchasing something online just to make sure I am getting a good deal. I used to use a many more apps and online wholesale websites but have since eased off the online shopping as I grew older.

If you are interested in any of the above apps, I encourage you to try them out. As I mentioned before I use all the apps I explained above and I’m happy with the results. Overall, I would say I have saved around $100 since using them over the last 2 years or so.

As a college student I tend to have lower spending than the average family so pending your current financial situation and how you use the app or what your current scenario is your results may vary. Free money is free money though so why not pad your pockets a little bit more.

As always thanks for reading and let me know what you want to hear more about!

B^2

 

The Last Splurge

If you follow Grant Cardone at all he preaches increasing income above all else. The 2nd step in the process is to reduce taxes. I have done a relatively good job of that thus far, my internship allowed me to dictate how much income I make because it was a 100% commission job. I have tracked all receipts and have started researching how to minimize my tax bill this upcoming spring as well. The third step in his cycle is to save specifically “save it all”. This requires you to live your daily life without increasing your cost of living while you increase your income.

We see people violating this rule every day, some guy gets a promotion at work makes an extra $10k a year and goes out and celebrates by purchasing a new BMW. That promotion and pay increase did not make any difference since he increased his cost of living. He probably would have been better off getting a $5k pay increase and not blowing the money on material things.

I never was into blowing my money, here and there I would “treat yo self” but nothing drastic. Last summer at the end of my internship which paid me quite well and was a decent increase from the previous year ($150 more a week) I bought my only watch and a piece of wall art. That was my form of treating myself which came out to be about $250.

This summer by the time it is over and with bonuses included as well as any lingering payments I should avg a pay increase of about $350 more a week (no living stipend though) than last summer. I should be able to reduce my tax bill because of my 1099 status this year substantially. (I received about $1300 back last year, but I also had taxes taken out every paycheck and I am not taxed under my current pay system yet.) So, check box 1 and 2 for Mr. Cardone. I should also note I didn’t upgrade my standard of living during this time. I currently live in the cheapest apartment my roommate and I could find that would be able to accommodate a 3-month lease. It is cockroach infested and is pretty hood for a $400 a person month rent ($450 for 3-month lease). I drive the same car, I wear the same clothes, I buy the same food, I buy the same beer, and spend the same amount at the bars.

Onto box #3 spending: Looking over my expenses which I track to the penny, we’re looking pretty good. I went over them in a blog post about halfway through the summer and you can check them out here. I spent some extracurricular on/with my girlfriend for the vacation and everything like that. I also spent some money at the bars and on booze and other non-constructive habits and vices, but that was minimal. Overall, I didn’t blow any of my money. That is until this upcoming weekend.

I plan to spend a bunch of money when I return to home and go shopping with the girlfriend Saturday. I WANT new clothes, new shoes, a new suit, and some other Knick knacks. I say want and not need because that’s just what they are. The clothes I wear are fine but perhaps a bit dated. Some of my shorts and shirts I often wear I purchased 3-4 years ago and some are not in the best condition. I’d still wear them though, so it isn’t necessary I purchase new ones. Essentially this shopping trip is to purchase my “adult clothes” things that I will need in the future after I graduate college. That is why I call it the last splurge. This theoretically should get me the next two years or so of my life in terms of clothing and what not and would be considered the “treat yo self” portion of my saving.

Some of these purchases have been a long time coming for example the suit I currently wear I’ve owned for about 5 years, and I received a gift card for the purchase of a new suit last Christmas. The watch I purchased previously was intended to go with this new suit I plan to purchase. With upcoming interviews for full time jobs and the networking, events and other occasions I plan to attend you could consider this an investment in my dated wardrobe.

So, what do you all think? A waste of time and money or a much-needed update to prepare myself for what comes in my future.