Spending money
to save money.
I’m
not alone in this boat: I’m a college student and the amount of debt I have is overwhelming.
I just received a paycheck from my part time job, and I now have $250 which
must last me two weeks. I need to refill my dorm room’s refrigerator and food
shelf. I am also in need of a new business professional outfit for a college
event. My friends and I are planning to go out for dinner one night for a
birthday. I know $50 must be set aside for the dinner and pitching in for the
group gift. This leaves me with $200 to spend on groceries and the new
professional outfit.
Groceries can be bought at
discounted prices with coupons, and certain reality TV shows have shown us that
using coupons to the extreme can make these groceries virtually free. But
extreme couponing requires time that I don’t have as a college student. I am in
class all day, studying at night and working the weekend.
Clipping coupons from the
paper can be a great way to save money, but it’s not the only way. I utilize a
different method of saving money: loyalty rewards.
When checking out at Kmart or
Sears stores, the first thing the cashier will do is ask you for your phone
number. The reason for this is to look up your Shop Your Way Rewards. Shop Your
Way Rewards, also referred to as Shop Your Way, is a free loyalty program provided
by Kmart and Sears, for use both in store online, that is literally the same
thing as free money.
Here’s how it works. When you
spend a dollar, you receive 10 points. When you have 1,000 points, it is equivalent
to a dollar that can be used as money when paying in store or online at any Kmart
or Sears. Essentially, for every dollar you spend, you receive one cent in
points, which is 1% back in points.
This may not seem like a very
efficient way to save money. However, Shop Your Way offers ways to save substantially,
which is through their coupons.
By downloading the Shop Your
Way app onto my smartphone, I can pull up the coupons that are given to me. I
can have the cashier scan the coupons right from my phone at checkout.
Some coupons are immediate
savings, such as $5 off your purchase of $50 or more. But these coupons usually
only represent a 10% savings. I prefer the coupons that give you extra points
back. Three examples of these are 20% back in points on your next purchase, $10
back in points on your next purchase of $20 or more, and my favorite, $20 back
in points on your next purchase of $20 or more.
I found all three of those
coupons on my phone, and was ready to go shopping for what I needed with my
$200.
After shopping around at
Sears, I found a professional outfit. It would cost me $100, and at checkout I
used my coupon for 20% back in points. I then had $20 in Shop Your Way points.
Then, I went to Kmart. After
shopping in the grocery section, I was ready to checkout with $100 worth of
groceries, which is about two weeks’ worth of food.
Only one Shop Your Way coupon
can be used in a transaction, so I tell the cashier that I will need three
transactions. In the first transaction, I spend $25 and use a coupon to get $10
back in points. In the second transaction, I spend $25 again, and use a coupon
to get $20 back in points. After the second transaction, I had $50 in points. I
then ring up the remaining $50 worth of groceries, and pay with my points
instead of money.
This technique is one I use on
a regular basis. I am able to save hundreds of dollars in a few months. In this
one instance I was able to save $50. Although it may be different than traditional
coupon clipping, I still can walk out of the store with a large amounts of
groceries which I received at a much lower price. This method is great because it consumes much
less time, but still gives substantial savings, which is perfect for a college
student!
Spending money
to save money.
This essay was
written for a scholarship application, hosted by
Thank you for
reading and considering me for the scholarship!
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