Save money with digital coupons, here's how
MIAMI - It seems like the price of everything is going up these days. A simple trip to the grocery store for a few items can cost more than one hundred dollars. So what can you do to save some money? You might remember clipping coupons you would get in the mail but it seems like those days are long gone for many of us. These days phone apps and websites make saving money even easier while grocery shopping or at the mall.
"So I've always been someone who loves a good bargain and then when this app came out to save on everyday type purchases it really piqued my interest," said Ashley Palte.
Ashley is a full-time mom and an attorney but she still finds time to coupon digitally.
Ashley uses a cash-back app called Ibotta.
You simply go to the app on your phone, pick your store, pick your items, and submit a receipt. You get money back on all sorts of items. That money goes into your account and once you hit $20 you can cash out or get a gift card.
"It's dual purpose. It builds a shopping list for you and it builds savings for you," said Ashley.
"Digital couponing is really popular right now and part of the reason is it's so easy. Basically, the apps do all the work for you so you don't have to sort through the papers, the circulars that come out every week," said Kim Palmer, a personal finance expert at NerdWallet.
We went to her to find out the easiest and best ways to save. Kim says there are many different apps all searching for the best deal for you, so you don't have to.
"They all do slightly different things so it really depends what you're looking for and where you're shopping. For groceries, I really like the Flipp app. Basically, you enter your zip code and it searches for the best grocery deals near you. So you can plan where you're going shopping and even what you're buying based on those deals and it applies those discounts," she said.
The way you save differs. Some of the apps help you find the best deals, and others like Ibotta and Rakuten help you earn cash-back rewards.
"A lot of people love using cash back rewards because that money just accrues while you're shopping anyway and then you can get a check in the mail. It takes a little bit of effort to get set up initially. You usually have to share your email for example but then you really don't have to do much because these apps are doing the work for you. They're scanning the background, applying the discount code so it's worth putting in that little effort because the savings add up," said Kim.
For Ashley, who has been using these apps for years, they definitely have.
"On Ibotta alone I've probably saved about a thousand dollars so far," said Ashley.
Kim also recommends downloading the apps of stores you shop at often. You can find deals and coupons there too.
"If you go to Target you want to download the Target app because then you'll find the best discounts and deals as you're shopping and it pulls all of those in so you make sure not to miss any. You know it can really add up. Even if it seems like a small amount that you're saving or that you're earning cash back with each purchase it can add up over time," said Kim.
Kim says this is a way to feel good about our purchases.
"Prices are up across the board and it puts so much pressure on consumers and so coupons can be a way to take back some of that power, cutting off a little bit of the price tag and that can really add up and help consumers feel more empowered," said Kim.
For Ashley, feeling empowered and getting money back is the reason she says she will always reach for her phone and those coupon apps when she goes shopping.
"If you save five cents a dollar, that's five cents or a dollar you would've otherwise spent," said Ashley.
As far as privacy is concerned, Kim says most of these apps have disclosures about how your information is used and to read through them first to make sure you're comfortable before giving out your email or phone number.
Below is a list of some of the apps Kim recommends.
Fetch - Receipts to rewards
Flipp - Digital coupons, comparison shopping
Ibotta- Cash back rewards
Paypal Honey - Browser extension for discounts
Rakuten - Browser extension cash back
ShopSavvy - Browser extension and comparison shopping
Target Circle - In-store discounts