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How to Balance Spending and Saving

Whether you consider yourself a hopeless shopaholic or bargain hunter of the century, there’s always something new to learn about managing your money. Whilst most guides focus on cutting down here and scrimping on luxuries there, this guide is all about how to still enjoy spending, whilst still accruing money. We’ve got advice on loyalty cards, cashback, simple saving apps and more, so that even if you treat yourself to a fashion splurge, your bank will reward you for it.

Become a Member

One of the simplest ways to get rewarded when you shop is to look out for membership cards. These cards tend to reward you with points when you shop, but some also offer exclusive deals for members, like money off purchases and even free gifts on your birthday. It’s important to remember that not all membership cards are created equal, so before you sign up to one, have a look at the fine print.

Most loyalty cards will be free to use, though some require a minimum spend per month in order to remain free and others charge a flat monthly rate. If you’re a frequent shopper at the store then this might not be a problem, but if you aren’t you could get hit with these fees. Once you’ve established that the card is free, see if you can gain any other benefits by joining their mailing list. Oftentimes the best discounts are sent via email, for example, in the UK on your birthday The Body Shop will send you a free £5 voucher to use in store on whatever purchase you’d like. Other stores offer this too, like Krispy Kreme, Hobbycraft and Pizza Express to name but a few. The final thing to look for is how many points you’ll be earning per money spent, the higher the points, the more worthwhile the card.

Always Look For Cashback

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Cashback deals can make a big difference to your bank balance

If you shop online frequently then getting acquainted with how cashback works is a sensible idea. Cashback has only been around in its current form for a relatively short while, so some people are still sceptical about it. After all, getting money back on the things that you were going to purchase anyway might seem a little too good to be true. However, the truth of it is, it really is that simple. If you’re looking online, then you just need to look for online retailers that are offering it. For example, there are lots of casino cashback bonuses that can be claimed simply online, which is an effective way of minimising your losses if you enjoy casino gaming. Vegas Slots Online have compiled a list of the kinds of deals that it’s possible to claim. Generally speaking, this sort of cashback is applied only to the money that you lose at an online casino, but this can be a good way of cutting your losses. Casinos will tend to give you a fixed percentage of whatever you lose over a certain period of time, for example 10% of your losses over a month. Depending on how frequently you game this could make a big difference to your bottom line.

Of course, casinos aren’t the only place where you can earn cashback. High ticket items such as plane tickets, car purchases, mobile phones and white goods are all purchases that often offer cashback deals. If you’re considering making a large purchase, then it’s a good idea to have a look and see if you can claim cashback. The larger items often offer more generous deals so it could save you a lot of money.

Let An App Do The Leg Work

If you can’t be bothered with searching out deals for yourself then you’ll be pleased to hear that there are now apps that can do that for you. When it comes to simple money management tips it doesn’t get much simpler than downloading an app. Honey is a popular browser extension that you can add to whichever internet browser you use. When you click through to checkout on most shopping sites, the Honey extension will leap into action and search for voucher codes to save you money on your purchases. There are a slew of other extensions that work in the same way as this one too.

The other style of app, such as Plum, is that which saves your money automatically for you, though these tend to be paid for. These apps link directly with your bank account and can perform simple money-saving tasks like rounding up your payments and depositing the extra into a savings account. They can also perform more complex tasks, like finding the best savings account for you, compare your energy provider and automatically switch to the best provider, or even invest your money for you.

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