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The 5 Best and Worst Coupon Apps

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Who does not love saving money? Coupon apps are one of the best ways to save money. From grocery apps like Ibotta to Shopkick rewards, smartphone coupon apps are great options to save money on the go.

Keep more dollars in your wallet by using these apps to shop for everything you would typically buy, from groceries and family fun days to clothes or dining out.

By offering coupons, promo codes, points, or cash back, coupon apps help consumers pay less for things they would buy anyway. Most apps are free, but not all coupon apps are created equal. Scammers create fake apps to look like trusted brands, and you can safely download them from the Google Play Store. Steer clear of coupon fraud and scams by avoiding too-good-to-be-true deals, following rules, and not copying or using expired coupons. 

If you love saving money when you shop, check out these 5 best and worst coupon apps of 2022.

1.    Ibotta

You have probably heard friends rave about this popular grocery app. Here’s how it works:

  • To save money and avoid buying extra stuff while strolling the aisles, you can open your Ibotta app before you leave home to check for any coupons for things you plan to buy.
  • Ibotta lets you mark the coupons right in the app.
  • Next, head to the grocery store to buy the items you usually buy. Remember to hang on to your receipt since you will need it to claim your savings.
  • Back at home (or in your car if you can’t wait), open the Ibotta app. Select the option to redeem your previously selected coupons.
  • You will need to scan the barcode on each item and the barcode listed on your receipt. The credit shows up as soon as a few minutes or up to one business day.

All you need to do is wait until your credit reaches $20, then you can cash out your rewards via gift cards, PayPal, or as a direct deposit to your bank.

It is one of the fastest, legitimate, and most popular ways to get real cash back for your everyday purchases.

What to Avoid

Apps that offer fantastic super savings and high-value offers need to be avoided. If you see an app, email, or website that provides a $500 gift card, coupon, or promo code, the chances are that it is almost always a fake.

2.    Groupon

While it is not grabbing the news these days, Groupon is the original everyday deal app and is still a popular player in the online coupon space.

Typically, most Groupon coupons act as a discount on a specific service or experience. For instance, you can get $10 off for $20 at a restaurant in your area. Or you can get a spa experience for two at a discounted rate.

Groupon can save you a lot of money at places that you already use. It is also a great discount tool to check out deals at a new place. Groupons can be used for a wide range of services and activities, such as eating out, skydiving, wine tasting, going to the zoo, going to a theme park, getting a spa day, going go-karting, or getting home repairs done.

Keep in mind that Groupon promos are time-sensitive. This means that you will need to use them during a specific timeframe. However, if you have already paid and the promotion expires, you still have the option to redeem it to get your cash value back. 

What to Avoid

Watch out if you see an app that’s the only app that offers that great deal. For instance, if all other websites only offer a 10% off code, a 75% off deal is probably a scam.

The 15 Best Mobile Coupon Apps That Will Help You Save Big Bucks

3.    Coupon Sherpa

You might not have heard of Sherpa Coupon, but it is a solid, older coupon app that offers many printable coupons.

Scan through the list for coupons for mall retailers, local department stores, big box stores, specialty stores, or restaurants.

The good news is that you do not have to print and clip coupons to take advantage of Coupon Sherpa.

These days, the site has a mobile app that can give you savings on the go.

What to Avoid

Check if the digital or printable coupons on an app lack legal information or expiration dates. Legitimate online coupons or printed offers will have coupon rules and requirements listed on the voucher. Digital coupons must always match the manufacturer’s guidelines.

4.    Shopkick

Although Shopkick isn’t exactly a traditional coupon app, this app is a great way to earn points at stores you shop at online or visit in person.

Shopkick has joined with many popular chain stores to enable this rewards system. Just turn on your location services, walk into a store, and open the app to collect your rewards.

Once you earn enough rewards, called “kicks,” you can redeem the points for a gift card to your favorite listed retailer—Target, Walmart, Kroger, Best Buy, Yankee Candle, and TJMaxx.

You can save the most money if you take a few minutes to look for specific items on the list, find them in the store, and scan the barcodes.

Another way to get even bigger savings is to shop on big sale days of the year, such as Black Friday, where you can often earn up to 200 kicks in one day.

You can even earn kicks for visiting store sites online, watching short in-app video clips, or scanning a receipt for a purchase made in person. Check the app to see which points qualify for purchases that you make regularly. It’s a great way to collect passive points while going about your everyday shopping.

What to Avoid

Do not ever pay for a coupon. A legitimate app won’t ask for money. So, anything that requires you to pay before giving you the offer is a big red flag.

5.    Coupons.com

This is a versatile app that you can use on both Apple and Android smartphones.

If you are always on the hunt for offers, then coupons.com is a giant company that offers a ton of deals for groceries and everyday purchases.

With the app, you can take advantage of these deals while on the go. Browse digital deals at places like Petco and Old Navy, or add the coupons to your Apple mobile wallet via the Passbook app.

Here are the top 3 ways that you can access your coupon savings:

  • Print an email from your computer
  • Print a deal from your mobile device (this only works if you’re using an iPhone, iPad, iPod Touch, and some HP printers)
  • Add the coupon to your store loyalty card and scan it when you check out

Use your phone to store coupons and scan to get the best rewards at checkout.

What to Avoid

Watch out for apps that employ scammers’ bait-and-switch strategies. For example, this scam pretends to offer you a coupon code online, free and clear. Then, once you agree to it, it makes you fill out a form with your personal information.

Top 8 Tips to Save Money Shopping on Amazon

Image credit: [Getty Images Signature]

How To Utilize Your Emergency Fund

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An emergency fund is a fantastic tool that can be lifesaving against income loss or financial emergency cases. Having a set amount of money aside for use only when necessary, can be the difference between paying for emergencies and being forced into debt. For this reason, an emergency fund must be used correctly.

This article looks at five ways to make your emergency fund go further and four things you should avoid.

How to use your emergency fund

When building and using an emergency fund, you must understand fully what it is and how to use it correctly. Let us look at how you could use your emergency fund to make it work for you and conserve your funds as much as possible.

Tip 1: Always Replenish Whatever You Take from It

As you will likely use your fund to pay for a considerable expense or substitute months of income, it must contain as much as you expect to need.

Therefore, whenever you take money from it, be sure to top it back up. In the event of an income loss, this may not be possible right away but replenish it as soon as possible.

Replenishing your fund is particularly important if you must use it for large purchases that take up a chunk of your money.

This may take longer to do, but it must get done eventually. You do not want to face another financial emergency and have nothing to fall back on, so keep track of how much is in your fund.

Tip 2: Keep Your Emergency Fund Somewhere Accessible but Separate

In times of emergency, you must have easy access to your money, so it is sensible to store it somewhere you can realistically access it. A savings account is an excellent place to start but be sure it is one you can draw from when you need to, as some savings accounts do not allow withdrawals.

Let us look at the kind of account you should be looking for when you need an emergency fund. To help you keep your emergency fund growing, you can choose a savings account with a high yield to earn interest as you add to it.

Most high-yield accounts also allow you to get your money quickly, which makes them great for an emergency fund.

However, there is an important caveat. Your emergency fund is likely to be a large amount of money, and the temptation to spend from it can be overwhelming at times – especially if you keep it alongside your regular bank accounts.

So, it is sensible to open your emergency fund account with a different provider, so you do not see it every time you spend.

Tip 3: Use It Only When You Have No Other Options

The point of your emergency fund is that you can turn to it when you are in an actual emergency. Think medical expenses, job loss, or homelessness.

Therefore, it is crucial that you only turn to it when you have no other options. If you have a regular income, your income should be the first thing you use to pay for things, not your emergency fund.

As we have seen, the temptation to spend from your emergency fund can be challenging, especially when it comes to big purchases.

However, it is essential to be mindful. You likely have good reasons for setting up your fund. You should try to be mindful of those reasons when the temptation hits.

Tip 4: Limit What Constitutes an Emergency

Your idea of an emergency will depend on your responsibilities and needs. It is important to have some ground rules.

For example, when it comes to big purchases, you might be tempted to play around with what constitutes a financial emergency. But what can feel like an emergency now is unlikely to feel that way when a true emergency comes along.

It is vital that when you are setting up your fund, you think about what would indeed constitute an emergency.

Take some time to figure out a list of things you might need money for and work your fund around that list. Your list will depend on your priorities. But a general rule is to think about medical bills, vet bills, and car trouble.

Tip 5: Make Your Fund a Priority

Your financial priorities are likely to be bills and debt, but make sure to set something aside for your emergency fund. While other things may take priority, your fund is still a significant financial expense that you should take as seriously.

https://www.moneyunder30.com/emergency-fund

Remember that your emergency fund doesn’t have to take massive amounts of your monthly income. It can be as little as the amount you can afford to contribute each month.

However, your fund should be considered a substantial investment. You should make sure to put something aside each month, no matter how much.

What To Avoid Doing with Your Emergency Fund

It can be very easy to misuse your emergency fund, so consider how to use it and avoid making mistakes. Let us look at some things to avoid doing when building and using your emergency fund.

Tip 6: Do Not Include Money That Is Used Elsewhere

The money you put into your emergency fund should be entirely free to use when you need it. This means the money you intend to use for savings or pension contributions should not be used to build your emergency fund. Since that money is already allotted to something else, and likely cannot be used in an emergency.

It would help if you also tried to avoid relying on your credit card to pay for emergencies. It can be tempting, especially as credit cards are easy to access.

However, an emergency fund can save you from using one when unexpected purchases occur. With the money, you need to be sensible to avoid debt and the extra charges with your credit card.

Tip 7: Resist Other Financial Uses

Having a chunk of money set aside without using it can seem counterintuitive. Especially if you have other financial goals you are working towards.

You may be tempted to use your emergency fund to top up your savings or cover another financial goal, like saving for a house or contributing to retirement. 

The critical thing to remember about your emergency fund is that you should consider it a different financial goal.

You should have a goal amount that you can turn to whenever. That does not mean you cannot continue to have other financial goals and contribute to them. But your emergency fund should be considered vital.

Tip 8: Learn the Different Between Accounts

An emergency fund and a savings account are two very different things. A savings account is likely to be used if you want to purchase something. An emergency fund is only used when you need something.

https://www.forbes.com/advisor/banking/best-places-to-keep-your-emergency-fund/

It can be easy to confuse the two, as they are essentially chunks of unused money sitting around waiting to be used.

Understanding that wants and needs are two very different things is essential for having an emergency fund. However, it would help if you kept the two separate and ensured you turned to your emergency fund for needs rather than wants.

Tip 9: Avoid Using It for Planned Purchases

The point of an emergency fund is to have it there when you need it for unexpected purchases and expenses.

For this reason, it should not be used for purchases you know you will be paying out for. This includes a deposit for a house, car payments, or a holiday. These things might be necessary but are expected and should be planned for appropriately.

Summary

An emergency fund can be a lifesaving tool for anyone experiencing income loss or a financial emergency.

It provides the opportunity to pay upfront for emergencies without facing debt or unnecessary borrowing. So, anyone who is thinking about setting up an emergency fund must know how to use it properly and not waste it.

Image Credit: [Avid Photographer]

Saving For College | The Dos and Don’ts of Saving for Your Child’s College Fund

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Sending your children off to college may feel very far away, but that time comes sooner than you think, regardless of how old your children are.

Therefore, it is essential to be prepared for this phase financially so that you can make sure that your children have access to the best options without putting a significant strain on your family’s finances. 

There is a lot of good and bad advice on how best to save for college, so weighing the options that best fit your family is the only way to make sure you save smart. This article will explore the best and worst tips for saving for your child’s college fund to help you make the right decision. 

Do: Start Early

It is never too early to start saving for college. Many parents open college savings accounts as soon as they return home from the hospital with their firstborn child, which is not necessarily a bad idea. 

The earlier you start saving for college, the less you must contribute incrementally because the money has more time to add up. Make college savings a part of your monthly expenses early on, and you will be able to look at colleges with your children without stress when the time is right.

For example, if you start saving for college in your child’s first year, you will have 17-18 years to save. By contrast, if you wait until your child is ten to start saving, you will only have 7-8 years to save. 

In the second scenario, you will have to contribute double the amount each week or month to save the same amount of money.

This can put a significant financial strain on your family depending on how much you need to save for either multiple children or advanced degrees. 

Don’t: Wait Until the Last Minute 

Assuming that you will figure out college savings later is a dangerous game to play. You are relying on yourself to remember to do research and set something up, but it is easy for life to get in the way and prevent you from getting it done. 

If you wait until your child is in middle school or even high school to plan for college savings, you will miss out on many years of compounding interest. That interest means that your money is working for you. 

The more you frontload your savings, the longer the interest must work for you and make you more money to put towards college. This is the biggest reason it’s important to get started saving for your children’s college funds in their first five years. 

Do: Investigate 529 plans and Roth IRAs

There are several different options for college savings. First, research the different options and find the one(s) that aligns best with your family’s college savings goals.

Then, depending on what works best, you can put all your money in one savings avenue or spread it out amongst a few different options. 

Here are some of the best options for college savings.

529 Plans

529 plans are one of the most popular college savings vehicles available. They are straightforward to open, and you can start saving money toward your child’s future education. 

You can set money aside over time in this account, and the funds you contribute are tax-deductible, which is beneficial as well. In addition, other family members, like grandparents or aunts and uncles, can also contribute money to your child’s 529 plan. 

The money in a 529 plan can only be used towards eligible higher education institutions and the associated expenses. However, it is an excellent option if you know that your child will go to at least a community college or four-year university.

If you think there is a possibility that your child may not go to college or may pursue a nontraditional educational path, you may want to weigh whether this is the right decision for your family. 

Roth IRAs

Although a Roth IRA is typically used for retirement savings, that’s not all you can do with it. 

You can use these popular after-tax investment accounts to fund your child’s future in education and beyond. In addition, because you have already paid taxes on the money, you do not have to worry about future tax rate fluctuation on the account’s balance.

Using a Roth IRA to save for your child’s future is an excellent choice because the money can be used for anything; it is not limited to only direct educational costs. For example, if your child wants to start a business, make an investment, or make a large purchase like a car or a home, and the Roth IRA money can be used. 

Because a Roth IRA does not have restrictions on what it can be spent on, many parents open both a 529 and a Roth IRA for their children to access both types of funds. 

It is worth noting that only the people who set up the Roth IRA can contribute to it, so if this is important to you, it might not be a good option. 

Don’t: Rely on Financial Aid and Scholarships 

Many parents who avoid saving for college hope that their children will qualify for financial aid or scholarships to pay for the bulk of their education. 

While your child may qualify for one or both things, there are good reasons not to rely solely on these things to fund your child’s education completely.

Although financial aid is a great option to help cover the cost of college, it has some significant pitfalls. First, it will set you and your child up with potentially a large amount of debt at a very high-interest rate once they graduate, which can be challenging to manage and cause long-term financial strains.

 Scholarships can be a helpful way to augment some of your child’s college education. Many colleges and universities offer scholarship programs for specific degree programs or sports teams, and they can significantly reduce or eliminate your out-of-pocket college expenses.

How much impact scholarships can have been very dependent on the situation, and it is something you may not know until your child is applying for college. It is essential to have savings ready as a backup because only a scholarship will cover all costs for their entire four years, in very rare cases. 

Do: Check the Performance of your Accounts Regularly

Even if you set up your child’s college savings accounts early, it is important not to set them up and forget them. Many parents think that the hard work is done once the account is set up until it is time to cash it in for college. 

Make a plan to check in on it at least once per year, but ideally several times per year. This will help you keep track of its performance, notice opportunities for changes to your investments or contributions, and more. 

Checking in on how things are going consistently will help ensure you have enough money in your account when you need it. In addition, this proactive approach to managing your child’s college savings will pay off in the future, so you will not encounter any surprises when it is too late.

10 Dos and Don’ts for Money-Saving Students

Don’t: Plan To Use Retirement Money 

Many caring parents may be tempted to dip into their retirement savings accounts to pay for their children’s college education.

While this often comes from a good place of wanting to help your child succeed, it is never a good idea to use retirement funds to pay for college. 

Using retirement savings to pay for college will incur penalties for early withdrawal and decrease the amount available to you when you retire, which can impact both you and your child’s future. The best thing to do is to set them up with their own accounts to save for them and assist them instead.

Conclusion

There are many ways to prepare in advance to pay for your child’s college education. It is essential to research the options and decide which one will work best for you and your family. 

Even if you don’t intend to pay for all your child’s schooling or if they do not end up wanting to go to college, it is always good to have some savings to help them get started in the future. 

Image Credit: [MachineHeadz]