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Could discounts save you hundreds?

Could special offers and rewards save you money? A study has shown shoppers believe a shrewd approach to using discounts saves them a staggering £899 a year on average, and even more in some parts of the country. It’s one way to stretch the shopping budget – but could it work for you?

Seeking out rewards and offers has become second nature for many shoppers in the UK. In fact 98% of us believe it’s an important part of our shopping habits, according to the study conducted on behalf of American Express.

It’s a habit that doesn’t look likely to change either. More than three in ten (35%) of us say using rewards and offers will be even more important in the year ahead.

Saving money – discounts and more

Discounts are one way you could save money, if it is something you want to buy.

Other ways include getting vouchers and coupons delivered straight to your inbox, and using outlet stores. Outlet stores are owned by the brand you are buying from so could prove a cheaper way to buy certain items.

If you want to take further advantage, you could also look into cashback credit cards, which offer you the chance to earn cash through the money you spend, by paying you back a percentage of what you spend or giving you reward points.

These cards are generally only useful if you pay off your credit card in full every month, however. If you sometimes struggle to pay your balance all off, cashback credit cards are probably not the right choice for you.

When special offers aren’t so special

Although special offers and discounts are great if you are already planning to buy the item, don’t be drawn into buying something just because you have a discount on it. It’s always tempting to buy something if it’s cheap, but imagine the item is full price – would you still be interested in buying it?

Remember to shop around too. Could you find something more to your needs somewhere else? This is especially true with food shopping, where it can be easy to be taken in by 3 for 2, or BOGOF deals, when another store could be actually selling what you need for cheaper anyway.

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  • Ron Harding / 2 November 2015

    I divide my spending into Needs, Wants and Aspirations.
    Needs I define as Food, replacement Clothing, Rent/Mortgage, Tools of my trade, and Fuel. Everything else comes under the heading of luxuries which are to be avoided.

  • John Gordon / 1 November 2015

    I found this very informative and long over due. Parting with hard earned money should be done after trying to ensue that the money will be well spent.

  • Brumpolly / 1 November 2015

    May I suggest you go to your local supermarket around 4. to 4.30 (especially on a Monday) when they usually reduce the fresh produce, sometimes by up to half. I go once a month at this time and get enough meat, chicken and fish to last for the month and freeze it. Tastes much better that way too!