6 Smart Shopping Strategies to Save Big
Do you already scour sales and special offers before hitting the store? Whether you're on a tight budget or just want to make smarter buying decisions, there are several things you can do to save even more money when shopping. Here are a few strategies:
1. Maximize credit card rewards programs.
If you're planning to purchase a big-ticket item, consider charging the purchase so you can earn rewards points or cash back through a credit card rewards program. Depending on the card, it's not uncommon to get 5 percent more or cash back on certain purchases. Just make sure to read the fine print of the reward card terms so you know what types of purchases are eligible. However, never use a credit card unless you're able to pay the bill off in full that month.
2. Search savings forums for unadvertised deals.
Online forums designed for bargain hunters and coupon enthusiasts, like the forums on fatwallet.com, often post unadvertised deals and information about flash sales. Check these boards regularly so you can take advantage of any rebate offers, online-only coupons and last-minute deals available from your favorite retailers. Users on these forums also frequently review the products they purchase, and you can check these reviews to find out whether a deal is too good to be true.
3. Shop for goods on daily deal sites.
In addition to offering deals for local restaurants, spa services and activities in your area, daily deals sites like Groupon and LivingSocial also sell goods at discounted prices. If you're in the market for items such as photo books, at-home spa kits, home decor, designer handbags or electronics, you could find these items at a discount on a daily deals site.
4. Cash in on cash back shopping sites.
Websites such as Ebates.com, Upromise.com and Extrabux.com give you the opportunity to get cash back when online shopping simply by funneling your purchases through the site. Many popular and well-known stores work with these cash back sites, including Overstock.com, J. Crew and Sephora. You can even get 1 percent cash back for the Apple Store, which is notoriously stingy when it comes to discounts.
5. Use shopping apps to find the best deals.
Shopping apps like RedLaser allow you to scan a bar code of an item and find out how much the item costs at local retailers and online. Apps like these make it easy to compare prices in seconds and decide whether you should arrange for a store pickup or have the item delivered. If you're heading in to a major holiday shopping season or holiday weekend when retailers are competing for your business, try an app like Hukkster, which keeps track of prices online and sends you an alert when the price drops. This can be invaluable when you are shopping around for big-ticket items like televisions and computers.
6. Shop online sample sales -- but with caution.
Online sample sale websites can be a great resource for finding authentic high-end and designer items at a discounted price. On websites such as shefinds.com, gilt.com and haultlook.com, you can shop designer collections from recent seasons and find everything from handbags and scarves to shoes and home goods at deep discounts. That said, make sure you aren't getting caught up in the frenzy of what seems to be a one-time-only deal. Those "unbeatable" deals may not actually be your best option, so take some time to comparison shop when you can -- or ask yourself if you really need the item at all.
Sabah Karimi is a columnist for the blog Wise Bread, where you can find consumer tips like how to select the best balance transfer credit cards.
