Stop Paying Retail – Part 1

Tired of paying full retail price? Would you like to get steep discounts or even cash back for your purchases?

This article will be broken into a two part series. The first part starts with the basics that anyone can use right away.

1. Cash Back Credit Cards – Cash back credit cards are the card of choice for many consumers. These cards provide anywhere from 1-3% cash back for your purchases. While there are many brands available, I prefer the TrueEarnings Card from Costco and American Express or Blue Cash® from American Express. Note: If you are a Costco member, then you can receive an additional rebate through the Executive Membership.
2. Rebates or Coupons – Every year, I am able to get my PC software from Symantec for free legally! How? I wait until my local electronic retailer places an advertisement where you will receive rebates equal to the total retail cost of the software. Typically, this happens in the fall as the new version of the software is ready for release; the retailers need to clear out their inventory to free up shelf space for the new versions. Similarly, coupon clipping as discussed on author Stephanie Nelson’s website, CouponMom.com, can also help one save money.
3. Travel and Lodging – My wife is expert at finding discount fares through Hotwire.com, Travelocity and Priceline.com. Explaining her technique warrants a separate article. Suffice to say, she is able to use Hotwire to get an appromixate cost for specific hotels and then bid below that “floor” through Priceline.
4. Associations – Membership has its rewards.  Organizations such as your local automobile association, the AARP, and alumni associations typically offer their members discounts to a wide variety of services.  In addition, an organization such as Upromise.com offers a free college savings plan based on eligible, every day purchases.

Now let’s have some fun. Let’s say you combine techniques and use your cash back credit card with the other suggestions. If you do, you’re saving even more than you would by using one of these techniques individually!

While these are a few “basics” that are not original ideas, the second part of this article will focus on more advanced techniques that, when combined with some of the basic ideas, can be especially powerful.

Here’s to your wealth and success!