The Rewards Card
One fun way to save some cash is to check if the business you’re patronizing has a rewards program (most do). Let’s take Starbucks for example. While I’m sure the recommendation you’re expecting me to give is to kick the caffeine habit and avoid wasting money on overpriced coffee, that is not what I’m here to say. Getting a free Starbucks Gold Card allows for fun perks such as a free drink when you earn enough “stars” (about once a month for me) and on your birthday too. Assuming you max out the value of the coffee when it’s free, a Venti Frappucino can cost more than 6$.
6$ drink x 12 months + 6$ free birthday drink= 78$.
If you’re going to drink Starbucks, why not take advantage of the free perks they give you anyhow and save it?
Taking this even further
Combine the purchase of the Starbucks cards with a Cash Rewards Credit Card incentive (usually 1%, but sometimes more) or use an app called Raise to purchase rewards cards at a discount. Currently a Starbucks is 5% off and my total saved this year is $67.26. This doesn’t need to be Starbucks, it could be any business you patronize frequently. At the end of the year, total up all the money you’ve saved (78$ + 67$ = $145), and move it into a separate account for saving and investing.
Tinfoil Hat Stuff
In a future post, I’ll go into greater detail, but be aware that providing your personal information to these companies in exchange for rewards is what you’re essentially selling them for a discount. If you don’t mind them having your personal data, then go for it!