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Thread: How I saved an extra $1,000 with this simple receipt trick

  1. #1
    Administrator fuego's Avatar
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    How I saved an extra $1,000 with this simple receipt trick

    I thought this was a really great idea. Never thought to do this. We do use the 'keep the change' with Bank of America where they round up anything we buy with the debit card (which we use for almost all purchases) and put it in or savings account.
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    How would you like an extra $1,000 in your bank account? Over the past seven months, I've saved more than $1,000 by using a simple strategy involving retail receipts.

    When I got started down this path last November, I named it the "Save Your Savings Challenge."

    Here's the idea: When retailers offer special sales and discounts, they're quick to tell you how much money you're "saving," but you're really just spending less than the regular price.

    How I saved an extra alt=,000 with this simple receipt trick-screen-shot-2018-06-01-8-53-43-pm-jpg

    Taking a look at the receipt in the picture, you can see that I "saved" $6.94 on groceries at Kroger when I tested out its new ClickList pickup service.

    But are you really saving anything if you just go spend that money at another store?

    No way...

    That's what inspired me to start the challenge. Every month, I add up the "You Saved" amounts from retail receipts and transfer the total to an online savings account.

    After seven months, I have 184 receipts and $1,048 in the bank. Now that's real savings!


    There's another benefit to collecting all of those receipts. When I go through them every month to calculate the "You Saved" amounts, I get one more chance to analyze my purchases.

    For example, I noticed early on that I was making too many trips to the store and cut back right away.

    I began the challenge to keep myself from overspending during the Black Friday shopping frenzy last year, but this has quickly become my favorite way to save money.

    My plan is to keep it up and transfer the total savings account balance to a Roth IRA at the end of the year.

    https://clark.com/personal-finance-c...d4a67-72651801

  2. The Following 3 Users Say Thank You to fuego For This Useful Post:

    Ezekiel 33 (06-02-2018), FaithfulOne (06-01-2018), HEAVEN (06-01-2018)

  3. #2
    That’s a gennie-wine savings account. Creative!

  4. The Following 2 Users Say Thank You to FireBrand For This Useful Post:

    Ezekiel 33 (06-02-2018), fuego (06-01-2018)

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