Reducing Costs Flashcards
How to CAREFULLY take advantage of “money saving” programs (rewards points, memberships, cashback, etc)
-use an AI to evaluate the fine print+terms and conditions for hidden fees
-always check your statements for suprises
-combined cashback offers (using cash back cards on cash back websites)
-look for special events/promotions/categories where you can get higher cashback rates
-actually claim your cashback to avoid losing it
-never EVER buy items just for the cashback. Only use it for necessities
-Do the math: make a list of the items you actually purchase on a regular basis then look at the catalogs for Samsclub and Costco and see if their prices on those items are enough to offset the membership costs
-factor in member services: discounted gas, prescriptions, travel discounts
-Share the membership cost & benefits with friends/family (confirm it is allowed)
-Keep track of Samsclubs/Costco online-only deals
Importance of reading the instructions ALWAYS and then reading what experts say about those instructions
Make sure that you actually know how to use the product. With some products, like sunscreen, if you don’t know how to use it correctly, you may as well not be using it at all (which means that you’re wasting your money)
- The other side of that coin is that you need to be careful, because some of that information might not be true. Companies sometimes lie to their customers (TIRC) and some lie about how much of their product you should use so that they can sell more (NyQuil).
- find an independent source that can explain the best way to use the product so that it’s effective but not wasteful.
