According to PricewaterhouseCoopers, the average Christmas budget will amount to $1,430 on gifts, travel, and entertainment in 2022 — very similar to the $1,447 they spent last year._[1] Eye-watering figures when one considers 45% of Americans have no savings._[2]

Holiday debt is the gift that keeps on giving, but you don’t have to be the intended recipient.

If you’re looking for ways to enjoy the holiday season without breaking the bank, here are several cheery ways to celebrate Christmas on a budget. From making your own decorations to finding creative gift ideas, these tips will help you make the most of your holiday season without spending too much money.

1. Start by Listing Anticipated Expenses 

Having a topline figure in mind helps prevent spending creep, and serves as a psychological accountability partner. To get started, simply jot down a Christmas budget list of the common holiday expenses you may encounter. 

Possible Holiday Season Expenses:

Next, set reasonable boundaries for whom you may choose to buy gifts. Setting boundaries can help ensure that everyone involved in the gift–giving process is comfortable and that expectations are managed. Boundaries can also help to keep the focus on the spirit of giving, rather than on material possessions.

Possible Gift Recipients:

• Spouse
• Children
• Extended family members
• In-laws
• Nieces, nephews, goddaughters, and godsons
• Teachers
• Neighbors
• Bosses, coworkers, secretaries, etc.

When you’re budgeting for Christmas, the costs can add up quickly. Not all of these expenses will apply to you, but it gives a few examples of costs you might not have remembered. 

And while the average American household considers a Christmas budget per child of around $200 to be the norm, experts suggest far less. At just $75 per child, their suggestion is to invest in year-round core memory events as opposed to a once-yearly toy dump._[3]

As you consider the expenses you’re responsible for this Christmas, take a look at the next step.

Related: 5 Financial Mistakes to Avoid This Holiday Season

2. Create a Frugal Christmas Budget

The key to enjoying Christmas on a budget comes as a surprise to exactly no one — merely having a budget in place. Your completed Christmas budget will show you an overall picture of your projected costs and help you save money in the long run. In this step, you’ll assign a dollar figure to each anticipated expense to give you a clearer picture of how much you’ll be spending.

 

 

 

 

 

 

View this post on Instagram

 

 

 

 

 

 

 

 

 

 

 

 

A post shared by DollarSprout (@dollarsprout)

Keep in mind that it might take a little bit of time to complete this step. For example, you might look up the cost of a professional photographer, but then realize you have the perfect selfie to put on your Christmas card instead.

Or, you might think you want to buy new Christmas decorations for your front lawn, but change your mind once you see the cost.

Spend some time doing a little research about the items on your list and try to come up with a total projected expense for the season. If you’re not comfortable with this total number, move on to the next step.

3. Find Ways to Lower Costs

You might be looking at your Christmas budget with fresh eyes and seeing a number you simply can’t afford.

Christmas might seem expensive, but it doesn’t have to be. Furthermore, you don’t have to go into credit card debt to make it a memorable and fun holiday season.

Here are some ideas to help you have an enjoyable Christmas on a budget: 

• Play a gift game. Many families now play games like a white elephant gift exchange or hot gift potato, which means they only have to buy one gift for the adults in their family. Suggesting this can save hundreds of dollars every Christmas. Plus, it’s a fun way to spend time as a family.

• Stick to the four-gift rule for your kids. Kids have so many toys these days. They can easily become overwhelmed, especially when the time comes to clean the playroom to make room for new toys. The four-gift rule says that you can buy your kids something they want, something they need, something to wear, and something to read. These four presents should be more than enough for them to enjoy their holiday season.

• Consider thoughtful Christmas gifts on a budget. Budget Christmas gifts are great for teachers, co-workers, and neighbors. If you’re a crafty person, take a shot at some homemade gifts. A nice letter and a $5 Starbucks gift card can also go a long way. Teachers love gifts that are from the heart – a thank you note from your child would go much further than another coffee mug or candle.

• Have a potluck. Even if you love hosting Christmas dinner, you don’t have to pay for the entire meal. Ask your guests to bring a dish.

• Use coupons and shop at discount stores. T.J. Maxx and Marshalls are ideal stores for you to shop for gifts. They have amazing name brands at affordable prices. You can also use coupons when shopping online. DollarSprout Rewards — a desktop browser extension available for Chrome or Safari — allows you to save on gifts in a multitude of ways. You’ll earn up to 10% cash back (or more) at 15,000+ popular online merchants. Walmart, eBay, Kohl’s, Macy’s, you name it. Wherever you do your Christmas shopping you’ll be sure to earn cash back on your purchases.

Related: 75 Creative Ways to Save Money Around the House

4. Look for Ways to Make Extra Money

Of course, you can only cut your budget so much. If you’ve done everything you can to lower the cost of your Christmas expenses but you’re still coming up short, it’s time to hustle. Here are a few ways to earn more money for Christmas spending. 

• Deliver food. Get paid to make deliveries on your own schedule. People don’t like going shopping when it’s cold and snowy outside, so now is a great time to start this side job.
• Complete microtasks. Not everyone has a ton of extra time to commit to a second job or even a fully involved side hustle. Micro job sites allow users to find and complete simple tasks for cash. From spotting errors on websites and data entry to product reviews and feedback, most tasks can be completed in 1 hour or less.
• Sell last year’s gently used gifts. Getting rid of some of your old gifts can help pay for this year’s presents. If you have an old cell phone lying around, try selling it on Decluttr. Once your tech is evaluated, you’ll get same-day payment via PayPal or with a check sent by mail.
• Shovel snow. If you live in a cold climate, there are lots of people who will pay you to shovel their driveway when it snows. Start with your neighbors and friends first.
• Work retail. Many stores hire extra employees during the holiday season. It’s a short period of time, but you can earn extra money and score discounts at your favorite stores.

Here is a list of more legitimate ways to earn cash quickly if you need more inspiration.

5. Take advantage of seasonal offers

Stores are clamoring over customers during one of the busiest shopping seasons of the year. In doing so, they’ll offer generous rewards, cash, or steep discounts just to get you in the door. Along with earning more money, you can also find ways to earn gift cards for free. Use the gift cards to buy your Christmas presents or give them away as gifts. 

Some easy ways to snag free gift cards include: 

1. Collect Swagbucks. New members get a $10 sign-up bonus. When you build up your supply of Swagbucks by taking surveys, watching videos, playing games, and more, you can redeem them for gift cards to your favorite retailers.
2. Take online surveys with Survey Junkie. When you cash out the money you’ve earned from completing surveys, you can get paid in a variety of gift cards.
3. Sign up for InboxDollars. Earn a $5 bonus for signing up, which you can get in the form of a gift card to one of dozens of major retailers. Every time you shop online, take a look at current deals and earn cash back for purchasing items on your list.

Remember, Fun is Free

Even though Christmas can get expensive and you might feel pressure to buy many people gifts, remember that fun is free.

You don’t have to spend money that you don’t have this holiday season. Christmas is about spending time with family and friends. There are so many frugal and free activities you can do that will bring you closer together.

You can volunteer at a soup kitchen and help the needy. Spend an afternoon baking bread and cookies with your children. Take a drive and look at Christmas lights. Surprise your grandmother and her friends at the nursing home. Create a silly Christmas dance choreography and teach it to your nieces and nephews.

Related: 9 Christmas Gifts You Should Never Buy for Someone

The post 5 Cheery Ways to Enjoy Christmas on a Budget appeared first on DollarSprout.

These apps – all of which are free to use – can save you money on groceries, travel, clothes, and so much more.

I’ve endlessly experimented with cash-back apps since 2015, back when DollarSprout was first launched. I don’t even know how many apps I’ve tried, but there are definitely a small handful that stand above the rest. These are the apps that I continue to use to this day.

In fact, we’ve done so much research on these neat little tools that, earlier this year, we decided to build our own cash back browser extension. We took everything that we liked about what the competition was doing, threw out everything we didn’t care for, and came up with DollarSprout Rewards.

So, as you read through this roundup, yes, you’re going to see our own app at the top of the list. We are proud of what we have built. But the rest of the apps mentioned are also top quality – you can’t go wrong with using any of them. In some way or another, they have all inspired our own app.

Best-In-Class Cash Back Apps 

• DollarSprout Rewards: Best overall cash back app
• Capital One Rewards: Best cash back app for online shopping
• Rakuten: Best cash back app user experience
• Ibotta: Best cash back app for grocery shopping
• Upside: Best cash back app for gas discounts
• Fetch: Best cash back app for scanning receipts
• Honey: Best cash back app for Amazon

1. DollarSprout Rewards

Learn More

Free Price

$0 Sign-Up Bonus

DollarSprout Rating 4.5/5 Stars

Best for: Best overall cash back app
Learn more: DollarSprout Rewards FAQs

Show Hide more

Pros

• Free, fully automatic cashback.
• Low payout threshold.
• Payouts are in cash.
• Large network of merchants (15,000+).
• International users welcome.
• Shareable referral links to increase earnings.

Cons

• No mobile application.
• No price drop notifications.
• Referral program is not yet live.

DollarSprout Rewards is a desktop-only cash back browser extension that is available on Chrome and Safari.

After installing the extension, you’ll notice a small alert appears in the upper right hand side of your browser whenever you visit an eligible merchant’s website:

Simply click the “Activate” button, and continue shopping as you normally would. Accrued earnings will post to your Earnings Dashboard shortly after purchase.

What I like about it:

• I personally do most of my shopping on my computer (not my phone), so a rewards app that works on my laptop makes it much more likely I’ll use it.
• Rewards accrue as cash, not points, making it much easier to track earnings.
• Payouts are direct cash to PayPal once monthly ($5 minimum).
• I like the subtleness of the savings alerts, especially in Google search results. It doesn’t feel obtrusive but still lets me know when a deal is available.
• Large network of retailers (over 15,000 and counting).
• Infrequent marketing emails and no intrusive notifications. User experience and utility come first.
• Automatically searches the web for working digital coupon codes and applies them at checkout.
• Shareable links that allow you to earn rewards with friends and family.
  • Example: You recommend a food processor to a friend using the link to the product listing that the DollarSprout Rewards extension provides. If they purchase using your link, you will earn additional cash back.

What I would improve:

• No cash back at Amazon. That said, I have yet to come across any app that offers cash back at Amazon. Amazon knows they have a strong grip on their customers, so there’s no need to incentivize or discount sales. 
• No price-tracking features. I don’t personally use this feature much with other apps, but I know some people do like that option.
• No referral program. 
• No mobile app, yet (coming soon).

2. Capital One Shopping

Learn More

Free Price

$0 Sign-Up Bonus

DollarSprout Rating 4.5/5 Stars

Best for: Best cash back app for online shopping
Learn more: Capital One Shopping Review 2022

Show Hide more

Pros

• Ease of use.
• Low payout threshold.
• Industry-leading cash back rates.
• Price drop features.

Cons

• Payouts are to gift cards only.
• No international users (US only).
• Heavily dependent on user tracking (not as privacy-focused).

Capital One Shopping is a coupon app and browser extension. The company was founded in 2014 as Wikibuy and was renamed after being acquired by Capital One in 2018.

When you install the browser extension and shop online, Capital One Shopping will alert you if there are any available coupons, or if it finds a better price somewhere else. You just have to click the button on the Capital One Shopping pop-up to claim the deal.

What I like about it:

• Easy to install and use.
• Sometimes the cash back deals are so good that I am fairly certain Capital One is taking a loss on them. My impression is that this is a way for the credit card arm of the company to build brand recognition via their shopping extension. They know they will likely recoup the losses on the credit card side of their business.
• Watchlist feature alerts you of price drops.
• Low payout threshold ($5 for most gift cards).

What I would improve:

• Not as many gift card options as some other sites.
• It tracks your online shopping history, which doesn’t bother me that much but I know some people are put off by that.
• Payouts are only done via gift cards.
• Only available to users in the United States.

3. Rakuten

Learn More

Free Price

$30 Sign-Up Bonus Spend $30, Get $30

DollarSprout Rating 4.5/5 Stars

Best for: Best cash back app user experience
Learn more: Rakuten Review 2022

Show Hide more

Pros

• Simple, easy-to-use interface.
• Access to large merchants that other apps don’t offer.
• Robust welcome bonus.
• Frequently boosted cash back rates at popular merchants.

Cons

• Payouts are only received quarterly.
• Frequent marketing-related contact can be tiresome.

Rakuten — formerly known as Ebates – gives rebates and cash back on purchases made in store or online. It is available as a mobile app or browser extension, and they offer an online shopping portal to see all deals in one place.

In general, the app works the same way as the preceding tools on this list. Consumers can additionally use the website or app to search for deals or see featured merchants. Rakuten’s browser extension automatically searches for and applies promo codes and cash-back offers when you shop online.

What I like about it:

• There are a few merchants that I can only seem to (consistently) find on Rakuten, like Nike and Target.
• The website is clean and easy to navigate. I can see a large selection of deals in one place.
• Rakuten will regularly run deals where they offer up to 10% cash back from select merchants, instead of their normal 1-2%.
• You earn a $30 welcome bonus if you spend $30 within 90 days. It’s basically free money if you were going to make a purchase anyways.

What I would improve:

• Out of all the apps and extensions I have signed up for, Rakuten seems to send the most marketing emails. You can unsubscribe from the emails and still keep your account active, though.
• Cash back is only paid out quarterly, which can be quite a long wait. For most people this won’t be an issue since it takes some time to accumulate the $5 minimum balance required.

4. Ibotta

Learn More

Free Price

$10 Sign-Up Bonus Spend $30, Get $10

DollarSprout Rating 4.5/5 Stars

Best for: Best cash back app for grocery shopping
Learn more: Ibotta Review 2022

Show Hide more

Pros

• Strong grocery focus.
• Rewards are displayed by cash value, not % cash back (easy to understand).
• Diverse incentive program with cash bonuses and free items.

Cons

• Less participating merchants than other apps.
• Redeeming offers requires considerable manual input.
• Scanning through irrelevant offers is time-consuming.

Originally marketed as the best cash back app for groceries and helping users save money on food, Ibotta has expanded its cash back offerings to several large retail chains including Lowe’s, Petco, Walmart, Target and more.

The app now offers a card-linked option, that detects purchases at participating merchants and then credits your account with earned rewards. They too offer a browser-based cash back extension that helps users earn rewards across thousands of additional participating retailers. If a shopper chooses to pay in cash, all hope is not lost – Ibotta allows users to manually upload their receipts after a store visit so long as they selected advertised offers prior to visiting the merchant.

What I like about it:

• Advertised rewards are displayed in cash values instead of percentage cash back. This helps me easily understand how much I can expect to save.
• Still maintains a strong grocery focus (many cash back apps are weak in this area).
• Popular retailers receive premium visibility within the app making it easier to find the stores I most frequently shop at.
• Payouts are via free gift cards or to cash.
• Ibotta offers frequent incentive-based bonuses in the form of free cash and/or free items at popular retailers. For example, they currently have an offer where a user can earn a free Butterball Turkey (~$20 value) by loading and completing 16 offers.
• Ibotta offers a $10 welcome bonus if a user spends $30 and they also have a referral bonus incentive where you’ll earn $10 for each friend or family member that you refer.*

*Referred friend or family member must make an eligible purchase and upload their receipt.

What I would improve:

• The knock against Ibotta has always been that their offers need to be manually loaded. This makes the entire process labor intensive and is a huge turn off for me personally. (Users have to search a merchant, select offers for particular products, if they exist, and then proceed to shop).
• Only 300 or so merchants offer card-linked offers, the rest require manual loading of offers, and manual scanning of receipts.
• Users face psychological biases that push them to buy additional products they may otherwise not need because they see savings offers that are only semi-relevant to them, if at all (not great for those that think they’re predisposed to shopping addiction).
• Cash back is only offered for specific products, not as a savings percentage across your entire order. If there are no cash back deals for items you need, you won’t save any money.

Related: 12 Apps Like Ibotta to Earn Cash Back at Grocery Stores

5. Upside

Learn More

Free Price

25¢/gal Sign-Up Bonus Promo code AFF25

DollarSprout Rating 4.0/5 Stars

Best for: Best cash back app for gas
Learn more: Upside FAQs

Show Hide more

Pros

• Interactive map makes it easy to find participating gas stations.
• Up to 50¢/gal cash back on gas!
• No minimum payout threshold.
• Permanent passive income by referring friends.

Cons

• App lacks automation (less user-friendly).
• Must link card, activate an offer, and then fill at participating stations.
• Cash back offer doesn’t always mean the lowest overall price.

Upside is a cash back app for gas that offers discounts on more than just fuel. It has three main categories for cash back: gas, groceries, and restaurants. The app functions similar to other cash back apps and offers rates of up to 25 cents off per gallon at participating stations.

What I like about it:

• I can see a map of nearby gas stations to see which ones are offering the best cash back deals.
• Cash back is paid out via PayPal or check and requires no minimum balance.
• Generous referral program that’s composed of one-time bonuses and recurring fill-up bonuses. You can earn a passive 1(¢)/gallon discount on your future fill-ups each time a referred friend fills up their tank.

What I would improve:

• The cash back is not automatic; you must “Check in” or add a photo of your receipt to the app. It’s not a big hassle, though.
• Keep in mind that the highest cash back offers might not actually be the best deals. For instance, if Gas Station A offers $3.50/gal with 25 cents cash back, but Gas Station B is $3.20/gal with no cash back, Gas Station B is still the best deal.

Related: 5 Legit Ways to Get Free Gas Cards

6. Fetch Rewards

Learn More

Free Price

DollarSprout Rating 4.0/5 Stars

Best for: Best cash back app for scanning receipts
Learn more: Fetch Rewards Review 2023

Show Hide more

Pros

• Earn rewards at ALL stores (minimum 25 points).
• Submit physical or digital receipts.
• No manual loading of offers.

Cons

• eReceipt scanner may miss digital receipts.
• Users earn redeemable points instead of cash rewards.
• Rewards are brand vs. store specific (won’t earn rewards across an entire purchase).

Fetch Rewards, also known as Fetch, is a cash back receipt app that allows you to earn points when you purchase from thousands of products at over 300 brand partner stores. To redeem points, simply scan your receipt through the app or connect your email address to scan eReceipts.

Brands partner with Fetch because, in addition to incentivizing consumers to purchase their products, Fetch provides brands with analytics to help them better understand consumer shopping habits.

What I like about it:

• Fetch awards points for receipts from any store or restaurant, even if it’s not from one of their partner brands.
• Works with both physical receipts and email receipts.
• Earn a modest number of points for receipt upload, even if no eligible offers were redeemed.
• You don’t need to pick your offers in advance in order to earn points.

What I would improve:

• The offers are usually tied to specific brands as opposed to a store-wide offer.
• The eReceipts feature doesn’t always work perfectly.
• I personally prefer to earn pure cash back rather than points. It’s easier for me to track my progress that way.

Related: 17 Passive Income Apps for Easy Extra Money 

7. Honey

Learn More

Free Price

$0 Sign-Up Bonus

DollarSprout Rating 4.0/5 Stars

Best for: Best cash back app for Amazon
Learn more: Honey Review 2022

Show Hide more

Pros

• Price comparison tools help you find the lowest price on Amazon.
• Droplist is convenient for non-time-sensitive purchases.
• Automatic coupon application at checkout helps find good deals.

Cons

• Frequently no working codes are available.
• Users commonly cite customer service concerns.
• Can’t use with common adblockers.
• Low, but growing number of actual cash back offers.

Honey is a free browser extension that automatically finds online discount codes. After installing the extension, Honey will provide you with discount codes every time you shop online. You don’t have to search manually.

Before checking out, the Honey browser extension will alert you if there are any deals available. If there are, they’ll be applied to your purchase. There’s also a feature called Droplist that allows you to track prices on certain items and receive an alert when the price drops.

What I like about it:

• Price comparison features allow you to find the cheapest price for an item on Amazon across different sellers.
• Price drop alert notifications allow me to save on purchases that I’m in no hurry to make.
• Price history tools allows me to see if there is seasonality for certain products (some items are cheaper in the Summer vs. Winter, etc.).
• The tool is owned by PayPal, so there’s notch protection against scams and frequent product updates.

What I would improve:

• Extension seems to frequently come up empty when searching for working coupon codes (user reviews across the web cite this as a common problem).
• Ad blockers seem to cause performance and tracking issues (I have to disable Adblock Plus in Chrome to use the extension).
• More cash back offers would be a huge plus. They’ve recently added PayPal Rewards into the mix, which offers actual cash back rewards in addition to the coupon-finding portion of the application.

Related: 20 Money-Making Apps for Earning on the Go

Honorable Mentions

Here are some names that you will be seen mentioned a lot in various “Best of” lists across the web. While they weren’t quite strong enough to make the top of our list, these are still apps worth considering.

8. Shopkick

Shopkick is among the best rewards apps because it lets you earn money by performing tasks, rather than just spending money. Many of these tasks are easy to do. You earn points or “kicks” with easy tasks like walking into stores, scanning barcodes for specific products, shopping with a linked card, and shopping online. Once you’ve earned enough points, you can cash out for gift cards.

Download: Android, iOS

9. Dosh

Dosh gives you up to 10% cash back when you shop at their participating merchants using a linked debit or credit card. Most other cash back apps require you to scan a receipt and choose a deal, but with Dosh, all you need to do is sign up and shop. Only available in the United States and a $25 minimum balance is needed to cash out.

Download: Android, iOS
Learn More: Dosh Review 2023

10. Drop

Drop is a free app that rewards you for your everyday spending. After linking a credit or debit card to the app, you’ll earn points whenever you shop with one of Drop’s partner brands. You can earn more rewards for referring friends, integrating other apps, completing Linked or Mobile offers, and more.

Download: Android, iOS
Learn More: Drop Review 2023

11. RebatesMe

The newer-to-the-scene app is undercutting many of its peers by offering robust daily cash-back offers along with select “double cash-back” offers on many of its 4,000 popular retailer partners. Their Cash Back Protection Program is a neat feature, where, if you make a purchase through RebatesMe and don’t get credited (an industry-wide issue because of the complexity of tracking), they’ll credit you for purchases up to $1,000.

Download: Chrome (desktop)

12. TopCashBack

TopCashBack operates on a somewhat unique business model compared to other apps on our list. According to their website, they pass on 100% of their commissions to users, which means very competitive cash back rates. Instead of keeping a cut of those commissions for themselves, TopCashBack charges retailers for advertising space on their website. Payouts are made via ACH, PayPal, or gift cards.

Download: Android, iOS

14. Receipt Hog

Similar to the other receipt-scanning cash back apps on this list, Receipt Hog offers points for scanning pictures of your receipts and uploading them within two weeks of purchase. You can also earn points by taking surveys or playing mini-games. Recent reviews on TrustPilot have been less than ideal, but overall the company has a long history of favorable ratings.

Download: Android, iOS

15. Checkout 51

Checkout 51 is a free rebate app that lets you earn money back on your grocery shopping by scanning your receipts. Unlike similar apps, you don’t have to claim offers at a specific store; you can shop wherever you want and still be rewarded for it. The offers are updated every week. Be sure to upload your receipts quickly (before the offer expires); if you forget, you could lose out on rebates.

Download: Android, iOS

Top Rewards Apps Compared

	DollarSprout Rewards	Capital One Shopping	Rakuten	Ibotta	Upside	Fetch Rewards	Honey
Best for	Best overall	Price comparison	Online shopping portal	Groceries	Gas purchases	Receipt scanning	Price tracking
Type	Browser extension	Browser extension + mobile app	Browser extension + mobile app	Browser extension + mobile app	Mobile app	Mobile app	Browser extension + mobile app
Rewards	Cash	Gift card	Cash	Cash or gift card	Cash or gift card	Gift card	Cash or gift card
Merchants	15,000+	30,000+	3,500+	300+	50,000+	500+	30,000+
Countries	Worldwide	US	US, CA, and some international	US	US	US	US, CA, AU, UK + more
Min. Payout	$5	$5	$5.01	$20	None	$3	$10
	Sign up	Sign up	Sign up	Sign up	Sign up	Sign up	Sign up

How Cash Back Apps Work

You might be wondering, how does the cash back business model work? It’s pretty simple (and brilliant, when you think about it):

If someone knows they are getting a deal, they are more likely to complete a purchase. In fact, a recent study by RetailMeNot showed that two-thirds of consumers have “made a purchase they weren’t originally planning to make solely based on finding a coupon or discount.”

Cash back apps and extensions are what we call “affiliate marketers”, which is just a fancy way of saying that they earn a commission for every sale they generate for a retailer. For example, New Balance might pay a 5% commission on any sales that come from an affiliate (like a cash back app). So how can an app incentivize you to make a purchase? They can offer you 2.5% cash back.

(5% total commission paid by retailer) – (2.5% paid to customer) = 2.5% profit for the app.

With cash back apps, everyone wins. The retailer gets a sale that they may not have otherwise got, the customer gets cash back, and the app gets a cut for facilitating the deal between buyer and seller.

Types of Cash Back Apps

The phrase “cash back apps” is often used as a catch-all to describe several different types of cash back apps and rewards platforms. As such, it may be confusing for some when an internet search for “cash back apps” doesn’t always return strictly mobile and/or smartphone applications.

Here’s a summary of the different types of cash back apps we frequently see on the market:

• Mobile Cash Back Apps: This category is home to many popular Android and iOS-based mobile cash back applications. They are most often direct cash or points-based programs where users pre-load offers and/or make a purchase directly from a merchant through the app itself.
  Mobile conversion tracking is notoriously difficult for advertisers, so these apps tend to involve more manual user input.
• Card-Linked Cash Back Apps: These are a subset of mobile cash back apps that require users to add a debit or credit card in order to validate purchases made through the app. They boost the accuracy with which mobile cash back apps correctly record and credit users with purchases made but require that a merchant participates in the program. (Most card-linked apps only have a few dozen to a few hundred participating retailers because of the barrier to entry).
• Receipt Scanning Apps: As the name implies, these apps require users to snap a picture of their receipt and upload it after their shopping trip. These apps also tend to require significant manual input because they often compel users to pre-select offers before shopping, which the app then validates against the manually-uploaded receipt. They are semi-prone to misreporting, and there is often a small delay associated with reward validation.
• Cash Back Browser Extensions: These are the most automated form of cash back available. Like rewards credit cards, cash back is typically spread across an entire order at a participating merchant, and not just on single products. They require minimal setup and generally run unnoticed on your desktop browser, most frequently available for Chrome.

Some cash back companies will offer several or all of the types of cash back apps listed above, with fully integrated user accounts across multiple devices. This allows users to download a mobile application for use on their phone, but also use a desktop browser extension, all under the blanket of a single user account.

Features of the Best Cash Back Apps

When it all comes down to it, the best cash back apps are generally the ones that put the most money back in your pocket – but that’s not the only factor at play.

Here are the features we feel the best cash back apps readily offer:

• Robust cash back rates. There’s a significant difference between 1 and 3% cash back. A lot of platforms offer cash back, but the devil is in the details.
• Great merchant diversity. A cash back app isn’t of much utility if it only has a few participating merchants you’ve never heard of. It’s similarly unimpressive if a cash back app boasts 300,000 retailers but none of them are the ten or so places you regularly visit.
• Low payout thresholds. Some cash back platforms have rather high payout thresholds that de facto force users to spend hundreds of dollars just to meet the $25 or $30 payout threshold needed to unlock reasonable earnings. Dormant or inactive accounts that are slow to reach and/or never meet the threshold may have earnings invalidated.
• Good privacy protection. Not all platforms are created equally, and some may sell your lead information to sister or third-party networks, leading to unwelcome contact overwhelm.

Typical Cash Back App Fees

All of the most popular cash back platforms offer their app or service free of charge.

There are no hidden fees or paid subscriptions necessary, and any accrued earnings are yours to keep, so long as you meet the minimum specified payout threshold.

How to Maximize Your Rewards

Here are a few tips to get the most out of these cash-back apps:

• Use multiple apps. Since each app provides different offers, using a combination of them will ensure that you’re getting back the most money possible. Here’s an example of a good “stack” to use without getting overwhelmed:

1. 1. 1. Browser extension for online shopping: DollarSprout Rewards
      2. Grocery store cash back: Ibotta
      3. Gas cash back: Upside

• Take advantage of referral programs and bonuses. Whenever you can, encourage your friends and family to join some of these rebate programs. They’ll save money, and you’ll get extra points or cash added to your account.

• Combine rebates with coupons. If you’re a savvy shopper, you’re probably already using coupons. Combining those discounts with app rebates puts even more money back in your wallet. Frequently, users will employ double-dipping “hacks” by linking rewards and cash back credit cards to their cash back app profiles.

• Shop using the apps’ portals. When you make purchases through the portal links, you’ll get access to bigger discounts and rebates. Just make sure you’re only buying items you truly need.

Pay attention to the rules. Most apps and offers have limits, deadlines, and other program rules. Follow them so you can claim every offer possible. You don’t want to miss out on cash back because you forgot to scan a receipt in a timely fashion.

FAQs

Methodology

DollarSprout’s editorial team has annually reviewed the leading cash back platforms on the open market since 2015. Our analysis includes observing and monitoring popular and emerging platforms’ ease of use, cash back rates, redemption processes, security, and more. Additionally, we take into consideration [international] availability, breadth of merchant offerings, user reviews, app store ratings, customer service concerns, and company history. Products awarded best-in-class designations consistently provide safe and secure user environments with legitimate cash back offerings, at no cost to the user.

Related: 50+ Legit Ways to Make Money Online

The post 15 Best Cash Back Apps to Earn Rewards in 2023 appeared first on DollarSprout.

I’m picky about the brands I buy, eat mostly organic, gluten-free, and dairy-free, and am terrible at planning my grocery shopping.

Even with all that in play, I earned $23 using Ibotta over the last three weeks, without changing my shopping habits.

At this rate, I’ll easily earn around $250 cashback this year using Ibotta.

By taking just a few minutes to pre-plan my grocery trips, scanning my receipt, and referring the occasional friend or family member to the app. I’m on pace to cover my Netflix, Hulu, and Spotify subscriptions each money with the cashback I earn from Ibotta.

If you have a family (which means probably a larger grocery bill than mine), are less picky about the types of food and brands you buy, and are willing to put in even the smallest amount of effort (like checking the deals in the app before you shop), you could possibly earn much more than that by using Ibotta.

What Is Ibotta?

Ibotta is a simple-to-use cashback platform. You can earn by shopping in store or online at participating retailers using the Ibotta app, website, or browser extension.

With the array of offers available — from groceries to travel, pet supplies, and even home and auto deals — there’s something for everyone on Ibotta. Some of their popular partner retailers include Whole Foods, Kroger, Target, Walmart, Instacart, Old Navy, American Eagle, and Uber.

Aside from your normal shopping, you can earn with Ibotta by purchasing gift cards, referring friends and family, and qualifying for bonuses when you redeem a certain number of offers within a given timeframe (e.g. earn a $10 bonus when you redeem 18 offers in a month).

You’ll also receive up to $20 in bonuses when you sign up with Ibotta and start redeeming offers.

Try Ibotta for Free

Free Price Earn rewards for things you already buy.

DollarSprout Rating Easy to use and 300+ gift card options.

Ibotta is a cash back shopping app. Earn rewards when you shop at Target, Amazon, Kroger, and more. Visit stores in person or online, scan your receipt or link a store loyalty card, and Ibotta will credit your account within 24 hours. Exchange your earnings for free gift cards or have cash sent straight to your Venmo or PayPal account.

Show Hide more

Pros

• Free to sign up and use
• Earn rewards for shopping you already do
• Easy to use
• Don’t have to link your bank or credit cards
• Extension makes it easy to get deals while shopping online

Cons

• Have to claim deals ahead of time
• Cash back only available on certain products
• $20 minimum to redeem your rewards
• Not able to link certain loyalty accounts

Related: 14 Best Ways to Save Money on Groceries

Is Ibotta Legit?

According to Ibotta’s website, they’ve paid out over $1 billion to more than 35 million users since the company’s inception in 2012. The app offers more than 1,500 deals at over 1,000 retailers.

I’ve tested a lot of cashback apps over the years, and, personally, Ibotta is one of my favorites, by far. But I’m only one user. Let’s see what the data says.

Looking at Ibotta’s Better Business Bureau profile shows that the company is accredited with a B rating. It appears they’ve had over 700 complaints in the last three years. However, all complaints are marked resolved, meaning the person who wrote the complaint verified that the issue was dealt with to their satisfaction.

It appears that the most common complaint is having an account deactivated and not being able to redeem previous earnings. According to Ibotta’s BBB responses, most, if not all, of the accounts in question violated their Terms of Use by creating multiple accounts with the same user information.

Still, Ibotta has a 4.8 rating from the Apple app store and a 4.4 rating from the Google Play store. The company has a combined 1.7 million reviews from both platforms and more than 10,000,000 installs on the Play store. One user said she’s gotten hundreds of dollars in savings, and another said she’s had no trouble using her rewards at restaurants or other retailers.

Based on publicly available data from Ibotta users, as well as my own personal experience, I’d say the company is legitimate and as safe to use as any other app of its kind.

Related: 20 Best Money-Making Apps to Earn Extra Cash

How Does Ibotta Work?

Ibotta offers five ways to earn: in-store shopping, online shopping, referrals, and bonuses.

In-Store Shopping

Ibotta makes in-store savings easy by allowing you the option to link your store loyalty account, scan receipts after you shop, or buy gift cards to spend later. You can also turn on notifications for Nearby Offer Alerts to stay in the loop about new offers in your area.

Link your store loyalty account ★★★★☆

This is the most convenient way to shop in stores with Ibotta. From within your Ibotta account, all you have to do is find a store that offers account linking, click “Link account,” add offers you want from that store, and then shop as usual.

Once you check out, Ibotta will automatically scan through your purchases, match them with offers in your Ibotta account, and add the cashback to your total earnings.

If you have the Ibotta browser extension installed, you’ll also receive a pop-up notification whenever you visit a site that allows account linking. You can add your information straight from there and link your account with the click of a button.

Related: 74 Creative Ways to Save Money on a Tight Budget

Scan your receipts ★★★★☆

The process is similar to linking your loyalty account: find the store you want to shop at in the Ibotta app, add the offers you want, and shop in store. The only difference is that you’ll need to take a picture of your receipt to receive your cashback.

Related: 11 Apps Like Ibotta to Save Money with Cashback

Buy gift cards ★★★★☆

Ibotta’s gift card feature is pretty unique. From inside the app, you can purchase gift cards to over 130 retailers, including Starbucks, Bed Bath & Beyond, Lowe’s, Walmart, Uber, and Airbnb.

To purchase a gift card on Ibotta, you can either add a personal debit card or use your Ibotta earnings. Either way, you’ll get cashback.

If you’re buying the gift card for someone else, you can toggle the “This is a gift” option. On the next screen, you’ll choose how you want to send the gift card off. Whoever you send it to doesn’t need an Ibotta account to use the card.

Online Shopping

If you’re more of an online shopper, or for deals and stores that aren’t in your area, Ibotta offers two options: shopping online with their browser extension or directly through the Ibotta app.

Shop online with the Ibotta browser extension ★★★☆☆

The Ibotta extension is available for Firefox and Chrome and works similarly to other cash-back apps. When you’re shopping on a site where they offer cashback, you’ll get a popup notification. Click the “activate” button to claim the deal and continue shopping as normal.

In about a week, you’ll see your cashback added your Ibotta account.

Related: 7 Frugality Experts Share Their Best Hacks for Saving Money

Shop directly through the Ibotta app ★★☆☆☆

If your laptop isn’t handy, you can shop online with Ibotta directly from the app.

Unlike the browser extension that pops up when you’ve landed on a site with a deal, you have to be more intentional shopping through the Ibotta app. That is, you have to know where you want to shop or browse through the available stores until you find a place you like.

When you choose the store you want, the website will open in Ibotta’s app, where you can shop like normal.

Other Ways to Earn with Ibotta

Aside from your normal shopping, you can earn cash back with Ibotta by referring friends and completing bonuses.

Refer friends and family ★★★★☆

Like many apps of its kind, you can earn for referring new users to Ibotta with your unique referral code. You can share your code via text, email, or social media straight from the app.

When your new recruits sign up with your code and submit their first receipt, you’ll both earn a $10 referral bonus.

Bonuses ★★★★☆

Ibotta offers two types of bonuses: specific and non-specific. Specific bonuses are usually related to a single brand. For example, “Earn $0.50 when you redeem three offers from Chameleon Organic Coffee.” Non-specific bonuses are typically time-bound, like “Redeem 15 offers of any kind this weekend and earn $1.”

You can see both types on the “Bonus” tab on the bottom menu of the app.

Ibotta promo code ★★★★★

It’s hard to beat a good sign-up bonus, and that’s exactly what Ibotta offers. New users can earn Ibotta’s free $20 Welcome bonus simply by using our special partner link and redeeming select offers.

• Welcome Bonus #1: Receive a $10 Welcome Bonus for redeeming an in-store offer (Any Brand and Any Receipt offers excluded).
• Welcome Bonus #2: Receive a $5 Welcome Bonus for redeeming a Mobile Shopping offer.
• Welcome Bonus #3: A secondary $5 Welcome Bonus for redeeming an in-store or Mobile Shopping offer.

Build out your team

Ibotta used to offer additional earnings through Ibotta Teamwork. Every member you referred would become part of your team, and you could unlock bonuses together.

However, as of 2/1/2022, Teamwork bonuses are no longer available on the Ibotta app.

Ibotta Review in Summary (The Verdict)

Every app has its issues, but I think with Ibotta, the pros outweigh the cons. It’s a great way to earn cashback for shopping that you’re probably already doing and especially shines with grocery and department stores.

Your favorite brands and items may not always have a deal, so the more willing you are to try new brands, the more money you’ll save. With over 240 online shopping deals and 2,000+ total retailers, odds are you’ll find a few offers you like.

It’s a little cumbersome having to find and add offers to your account before you shop. My hope is that, in the future, Ibotta finds a way to automate the process so you can link all your loyalty accounts, shop as normal (without telling them what deals you want beforehand), and they can match deals with your receipts. But even if that never happens, I’ll still keep using and recommending Ibotta.

Related: This Savings Pro Collected $830 from Ibotta and Rakuten Last Year. Here’s How She Did It

The post Ibotta Review 2023: Pros, Cons, and How It Works ($20 Bonus Inside) appeared first on DollarSprout.

Some give cash back while others offer gift cards and discounts at your favorite stores and on your favorite products. But they all have one thing in common: saving you money on everyday purchases.

However, not all money saved is worth the time and effort put in. Luckily, Fetch Rewards requires little of both. It’s one of the easiest-to-use cash-back apps available and perfect for shoppers who are loyal to brands over stores. If you like the idea of earning free gift cards without much effort, then the Fetch app might be a good fit for you.

What Is Fetch Rewards?

$2 Bonus

Free Price No cost to download and use

DollarSprout Rating No option to link cards

Fetch Rewards gives users cash back on grocery purchases. You don't have to select your deals ahead of time. Just shop as usual and scan your receipt after. Fetch Rewards will let you know if anything you bought is eligible for cash back. Exchange your points for free gift cards to hundreds of retailers.

Show Hide more

Pros

• Free to download and use
• No need to select deals ahead of time
• Earn points for referring friends and family
• Quick turnaround when redeeming points
• Scan eReceipts through your email
• Helpful and quick customer support

Cons

• No option to link store loyalty cards
• Gift cards are the only reward option (no cash)
• Rewards expire if you don’t scan a receipt for 90 days
• eReceipt scanning is sometimes glitchy

Fetch Rewards, also referred to as just Fetch, is a cash-back rewards app that allows you to earn points when you purchase from thousands of products at over 300 brand partner stores. To redeem points, simply scan your receipt through the app or connect your email address to scan eReceipts.

Brands partner with Fetch because, in addition to incentivizing consumers to purchase their products, Fetch provides brands with analytics to help them better understand consumer shopping habits.

But don’t worry. Fetch never shares your personal information with anyone.

Fetch Rewards Review: How Does This App Work?

Fetch is similar to other rewards and receipt-scanning apps, but it has some unique features that set the app apart.

1. Sign up for a free account with a Fetch Rewards code.

To get started, you’ll need to sign up for a free account. If you’ve been referred by a current user, make sure to use their referral code so you can get a welcome bonus and they can secure a 2,000-point bonus as well.

You can use Fetch Rewards code FETCH2K at sign up to get $2 in bonus points.

Personal take: Sign up is easy and takes just a few minutes. The 2,000 bonus points showed up in my account balance after I scanned my first receipt.

2. Get familiar with Fetch Rewards brand partners.

Fetch offers points for every receipt scanned, but you’ll get more points when you make purchases from brand partners like Huggies, Tostitos, and St. Ives.

Once you download the app, familiarize yourself with the Fetch Rewards brands that earn you extra points. You don’t need to download any coupons or activate any rebates to get the extra points; you simply need to remember that these brands offer them.

Personal take: With a one-year-old, the brand I redeem the most is Huggies and they tend to have the best rewards. I frequently get 6,000 points on a single pack of diapers and recently there was a 12,000-point bonus.

3. Grocery shop as normal.

Since there’s no extra work to earn points, like selecting offers in advance or clipping coupons, you can shop like you normally would and the points are added to your account as soon as you scan your receipt.

Fetch partners with over 300 brands to offer extra points every time you shop. Some brands will tell you which products and how many points, but others aren’t specific. If a point value isn’t listed, you can usually expect to receive 10 to 25 points for buying any product from that brand, and special offers from brand partners might earn you up to 5,000 bonus points.

There might even be times you’re surprised with extra points when you scan a receipt. That occasionally happens to me if I unknowingly buy a partner product.

You can also get points on prescriptions when you use your SingleCare Digital Savings code. You can find your unique code within the Fetch Rewards app. Simply present your SingleCare Digital code to your pharmacist when you fill a prescription at a participating pharmacy and you’ll earn bonus points.

You can learn more about SingleCare in the Fetch Rewards FAQ.

Personal take: I’m not particularly name-brand loyal, so I don’t seek out brand partners. However, it’s nice to get the occasional bonus points. I also love that, unlike other cash-back apps I’ve used before, there’s no need to search through deals, commit to a purchase, or complete a task before you go shopping. 

Related: 14 Smart Ways to Save Money at the Grocery Store

4. Scan your receipts for points.

After you shop, scan your receipt to add points to your account. You’ll earn a minimum of five points per receipt at any retailer. Most receipts from major grocery stores and retailers will earn you a base of 25 points.

It’s important to scan receipts not just to get points, but to keep them. You must scan a receipt or enter an eReceipt at least every 90 days or your points will expire, including points received for referrals.

And, if you’re doing a lot of shopping, remember you can only scan a maximum of 14 receipts per week.

Personal take: Although Fetch’s receipt-scanning system is easy, it isn’t flawless. For example, I have a Walmart Grocery eReceipt that I’ve been trying to upload but for some reason, Fetch’s system can’t find it and another eReceipt was incorrectly marked as a duplicate. On the other hand, I’ve also received bonus points for products I didn’t buy.

Whenever something’s not right, contact the customer support team through the Contact Us button in the app’s Help Center or email support@fetchrewards.com. They’ve always been quick to respond and fix any issue I’ve had.

5. Invite your friends to try it.

If you enjoy using Fetch, you can earn even more by referring friends. Each referral is worth 2,000 to 4,000 points. And every friend you refer will get 2,000 points once they scan their first receipt.

You can see when Fetch is offering higher referral bonuses on the homepage of the app and keep track of your referral history and unique referral link in My Account under the Refer a Friend section.

Personal Take: I’ve referred two friends when the referral bonus was 4,000 points. The extra points are nice, but it’s not as reliable as getting the Special Offers bonuses.

Related: 17 Cash-Back Apps and Browser Extensions You Need to Have

6. Cash out your earnings.

Fetch Rewards has one of the lowest thresholds for cashout of any rewards app I’ve used.

You can redeem 100 points for a sweepstakes entry, and once you reach 3,000 you can cash out points for donations to partner charities. Once you reach 5,000 points, or $5 in total earnings, you can begin to redeem your points for most gift cards.

You will need more points if you want to redeem for a MasterCard or Visa gift card, or you can redeem points for magazine subscriptions at a lower rate.

Personal take: So far I’ve been able to redeem my points for a $10 Amazon gift card, and I have enough points to get a $5 gift card. If you take advantage of special offers, it doesn’t take long to accumulate enough points to cash out. It’s a lot faster than most other savings apps.

Fetch Rewards Alternatives

Fetch can be used in combination with other apps and coupons, leading to bigger savings. But if scanning receipts feels like too much work or you’d rather receive cash instead of gift cards, there are some alternatives to Fetch Rewards.

Ibotta

Fetch Rewards and Ibotta are fairly similar. The points value system for both Fetch and Ibotta is comparable and both accept receipts from almost any retailer or restaurant.

The big difference is Ibotta requires you to select certain products in advance to earn rebates. With Fetch, you can shop like you normally do and any partner product you purchase is automatically eligible for extra points.

Ibotta also has rebates for “Any Brand” items that Fetch doesn’t. You can get rebates on many generic brand products whenever they’re available for rebates in the app. And unlike Fetch, Ibotta automatically scans eReceipts. I’ve experienced fewer glitches in that department with Ibotta.

Ibotta also allows you to earn actual cash instead of redeeming for gift cards, which can be much more useful to some users. However, Ibotta’s minimum cash out is $20 whereas Fetch’s is $5 for most gift cards.

Dosh

Dosh is another alternative to Fetch, partnering with over 100,000 stores to offer cash back on your shopping. And you won’t just earn cash back on certain items; you can earn it simply for shopping in a particular store.

While there’s a lot of variety, you may not find your favorite grocery store on Dosh. For instance, in my area, Dosh only offers cash back on Sam’s Club, Costco, and BJ’s memberships. But it does offer cash back at many local restaurants without the need to scan receipts.

To earn cash back, simply link your credit or debit cards to Dosh and anytime you use them at a partner retailer, you’ll automatically get cash back. It’s a simpler process, but Dosh has a cash-out minimum of $25, higher than Fetch and Ibotta.

The post Fetch Rewards Review 2023: Pros, Cons, and How It Works appeared first on DollarSprout.

According to a Bankrate survey, nearly two-thirds of smartphone users have at least one financial app on their phone.[1] But because everyone has a different savings style, ranging from hands-on to set-it-and-forget-it, you’ll need to find a tool that’s the right fit for you.

There are three main types of money-saving apps: those that help you save money toward a goal, apps that help you save while shopping, and apps that help you cut back expenses. Depending on your goals and preferences, you might need some, one, or all.

To help you make the best decision, let’s discuss the best money-savings apps in each category.

Best Automatic Saving Apps

We all know saving money is important, but finding the motivation or even remembering to tuck your money away can be the hard part. We found several apps that help you save money the way that works for you. Apps that round up change, for instance, move your spare change into a savings account.

For most of these, you’ll need to download the app, set up a profile, and link your checking account or credit card.

1. Acorns: Best for new investors

Acorns is an investing app that rounds up your purchases on linked credit and debit cards and moves that spare change into an investment portfolio. Once you get into the habit of investing small change, you can boost those round-ups by 2x, 5x, or even 10x. You can also set daily, weekly, or monthly recurring deposits.

To get you into the right investment portfolio, Acorns will ask you about your financial situation, income, goals, and risk tolerance. It will then recommend one of its five ETF-based investment portfolios, but you can override their selections.

There’s even a rewards feature: When you spend with Acorns’ partners including Airbnb and Nike, you get cash back.

It’s a good app for beginners, but you might consider upgrading to another service for larger investments down the road.

• Available on: iOS and Android
• Price: $1–$5/month

Learn More: DollarSprout’s Acorns Review

2. Qapital: Best for goal setting

Sometimes you need a little fun to make a chore feel worthwhile. With Qapital, you can set up multiple rules that trigger savings, like saving a preset amount every time you post on Instagram or as a reward when you spend less than expected. Or you can choose a more straightforward approach, such as saving a percentage of each paycheck.

You also choose whether the money goes into an interest-bearing FDIC-insured account or an investment portfolio. With so many ways to save and track progress, it’s a solid app for setting goals. According to the company, the average user saves $5,000 a year.

• Available on: iOS and Android
• Price: 30-day free trial, then $3–$12/month

3. Simple: Best banking alternative

Simple is an all-in-one savings app that offers a free checking account, debit card, and budgeting tools. To help you avoid overspending, the app scans your available funds and shows you how much you can safely spend each week. It can also automate your savings by rounding up every debit transaction to the nearest dollar and automatically moving the money to an FDIC-insured savings account.

Simple banking accounts are mobile-first, so it’s a good tool for those who prefer banking on a smartphone. But because it doesn’t have brick-and-mortar branches, you might look elsewhere if you think you’ll need in-person help.

• Available on: iOS and Android
• Price: Free

4. Digit: Best for simplicity

Digit is a savings app that calculates what you can save based on your checking account balance, spending patterns, and the goals you’ve set up with the app. It then automatically moves money into an FDIC-insured savings account and distributes the money among your goals. You also get a 0.5% savings bonus every three months based on your average daily Digit balance. So if your average daily balance is $1,000, then you would earn $5.

The nice thing about Digit is that it simplifies a lot of the legwork. Your income, expenses, and spending might change from week to week, so Digit’s number-crunching can go a long way in saving you money and time.

• Available on: iOS and Android
• Price: 30-day free trial, then $5/month

Learn More: DollarSprout’s Digit Review

5. SmartyPig: Best free money savings

SmartyPig allows you to create multiple money market accounts that act as virtual “piggy banks.” You attach goals with deadlines to each, such as “Europe trip 2021, $3,000″ and can either automate your savings from a linked checking account or manually move money into the FDIC-insured accounts. SmartyPig also tracks your progress on each goal, which you can adjust anytime.

It’s a money-saving app that’s easy to use, and because it takes a few days for any withdrawn funds to hit your checking account, the buffer can help if you’re tempted to drain your savings. But its best feature is that it’s free.

• Available on: iOS and Android
• Price: Free

6. Chime: Best for spotty banking history

Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.

Chime is another free money-saving app that includes other banking services, including checking and savings accounts. Through the app or a browser, you can automatically save a percentage of every paycheck or ask Chime to round up your purchases and tuck away the rest into savings.

Chime is a helpful option for people with a spotty banking or credit history because the bank doesn’t run a credit check or look at your ChexSystems report before you can open an account. That’s part of the bank’s “second chance banking” program, which also includes zero overdraft and monthly maintenance fees and no minimum balance requirements.

• Available on: iOS and Android
• Price: Free

Learn More: DollarSprout’s Chime Bank Review

Best Money-Saving Apps for Shopping Savings

No one wants to pay more for something than they have to. But the old-school method of clipping coupons (and remembering to bring them with you) can be pretty inconvenient. Enter cash-back apps, which can help you save money on just about any purchase using your smartphone or browser extension.

7. DollarSprout Rewards: Best browser extension

DollarSprout Rewards is a free coupon-finding browser extension that alerts you to better prices for your online purchases. Once you install the extension, the extension will send pop-up notifications when you’re shopping on a site that has digital coupons or a cash back offer available.

It’s an easy way to save money on everyday online purchases and there’s absolutely zero cost to you. Entirely free cash back at the click of a button. 

• Available on: Chrome (Desktop) and Safari (Desktop)
• Price: Free

8. Swagbucks: Best for earning rewards

Swagbucks is a website where you can earn rewards for taking online surveys, playing games, shopping, and watching videos. Once you sign up for an account and fill out a profile survey, the site looks for points-earning matches for your demographics.

You earn points, known as SBs, for completing these tasks and can redeem them for gift cards. There are even more chances to earn SBs when you shop at Swagbucks partners, including Amazon, Walmart, Target, and Starbucks.

• Available on: iOS and Android
• Price: Free

Learn More: DollarSprout’s Swagbucks Review

9. Fetch Rewards: Best for simplicity

Fetch Rewards is a free mobile app that lets you earn rewards by taking pictures of your receipts. If the receipt contains participating brands, you’ll earn points based on the cost of the product. You can redeem points for gift cards, donate them to charity, or use them to enter monthly sweepstakes.

It’s a good tool if you don’t want a browser tracking your searches and purchases, you don’t have the time to earn rewards by completing tasks, or you don’t want to fuss with coupons (even digital ones).

• Available on: iOS and Android
• Price: Free

Learn More: DollarSprout’s Fetch Rewards Review

Best Apps for Budget Tracking

According to another Bankrate survey, 21% of consumers aren’t saving any money at all, typically because everyday expenses use up most of their hard-earned dollars._[2] But the best budgeting apps can help you make way for savings.

10. Trim: Best browser service for hands-on savings

Trim is a service that helps you negotiate your bills and cut out unused subscriptions like those pesky trials you forgot to cancel. There’s no app, so you’ll sign up online and connect your bank accounts.

Then, Trim analyzes your transactions to find recurring expenses and sends you alerts. If you’re not interested in keeping recurring services, Trim cancels them for you or offers to negotiate your bills on your behalf. If you end up saving money, Trim takes 33% of the amount you save in your first year.

• Available on: Your smartphone’s web browser
• Price: Free to set up; if you use bill negotiation, Trim takes 33% of your savings

Learn More: DollarSprout’s Trim Review

11. Rocket Money: Best app for hands-on savings

Rocket Money is an app that connects to your financial accounts and monitors your spending and expenses, then negotiates your bills for free. It’s a lot like Trim, with a few key differences. If you wind up saving money, both services take a percentage of your savings. Rocket Money takes 40% (versus Trim’s 33%) and has fuller budgeting capabilities, including a monthly spending report.

One of the main differences between Rocket Money and Trim is the logistics of using them: Trim doesn’t offer an app, while Rocket Money does.

• Available on: iOS and Android
• Price: Free to set up and use; optional Premium service is $3–$12/month.

Learn More: DollarSprout’s Rocket Money Review

12. Empower: Best all-in-one app

Empower is an app that combines some of the best features of other money-saving services, including Cash Advance of up to $250*, Automatic Savings, budget tracking, customized recommendations, and Interest-bearing Checking. Once you link the app to your checking account, it analyzes your balance every day and transfers money to your AutoSave Account when you can afford to do so. If you don’t have enough funds in your checking account one week, Empower will try again the following week.

Empower also analyzes your spending patterns, income, and expenses to offer personalized money-saving recommendations. You’ll also receive alerts for things like bank fees, bill increases, and missed payments.

Users can’t set up multiple savings goals, but the other features of this app more than make up for this shortcoming.

• Available on: iOS and Android
• Price: Free for 14 days, then $8/month

Learn More: DollarSprout’s Empower Review

*Eligibility requirements apply. Free instant delivery is available for eligible Empower Checking Account customers with an activated debit card. Banking services provided by nbkc bank, Member FDIC.

13. Tiller: Best for spreadsheet budgeting

Tiller is a customizable budgeting add-on that works with Google Sheets and Excel. Once you connect your bank, credit card, and other financial accounts, Tiller pulls that information into your spreadsheets and continually syncs the accounts.

With the standard Foundation Template, you can check your net worth, divide your transactions into more than 200 categories, share your spreadsheets with other people, and more. While this tool doesn’t automatically trim your expenses, you get an in-depth look at all of your accounts in one place.

The Monthly Budget tab shows you how much of your budget is allocated for each category and what percentage of your budget is left compared to how many days are left in the month. By checking this tab, you can either adjust your spending accordingly or change how much of your budget to allocate to a certain category.

• Available on: No app available; uses Google Sheets or Excel
• Price: Free for 30 days, then $79/year

Learn More: DollarSprout’s Tiller Money Review

14. Undebt.it: Best for debt payoff

Undebt.it is a tool that helps you set up a customized debt-payoff plan. Once you set up an account, you enter your debts along with how much you owe, the interest rate, minimum payment, and due date. Undebt.it lists the information on your easy-to-read dashboard and uses the information to calculate your debt-repayment plan.

There are many debt-payoff strategies, and it might be hard to figure out which one is best for your situation. Undebt.it compares several debt-payoff methods (including the “debt snowball” and “debt avalanche”) to help you figure out which is best for you, but it also lets you customize the plan according to your own goals.

Undebt.it says users are paying off $9 billion in debt using the service.

• Available on: Web browsers
• Price: Free; $12/year for the premium version

Is It Worth Paying for an App That Helps You Save Money?

Paying for a money-saving app sounds like contradictory advice, but the top money-saving apps are worthwhile if they help.

First, figure out which app works with your saving and spending style. If you need help understanding how much you’re spending, finding ways to cut back your expenses, and saving money automatically, then choose an automatic savings app that offers guidance. But if you like being in control, then a hands-on app is best for you.

Then, estimate how much you could save with the app and compare that amount to the price. If you’re on a tight budget, consider starting with a free service and then moving to a paid subscription once you have some money tucked away. Or, you could start with a savings or budgeting app, then only sign up for a shopping app if you have the time and money for it.

Generally, good money-saving apps support you where you need help so you can hit your financial goals faster.

Related: How to Get Out of Debt: A Step-by-Step Guide

The post 14 Best Money-Saving Apps to Help You Reach Your Savings Goals appeared first on DollarSprout.

I’d research all the stores online and visit the ones that I could in person, looking for flash sales and clearance deals. I’d meticulously read reviews and ratings and look at pictures to see if those reviews were authentic.

Then, when I was sure I found the best deal, I’d try to top those savings off with a coupon. If I was in a store, you could find me off to the side of the checkout line searching for in-store coupons. Sometimes I’d even spend ten minutes searching for coupon codes before hitting the final payment button.

But after a while, the chase started to feel more like a slow hunt. All the deals looked the same and there were so many expired coupon codes with so little savings that I gave up. I resigned myself to paying the same amount as people who couldn’t care less about saving money.

Heartbreaking.

Until I discovered coupon code browser extensions. These extensions search the internet to find deals and sales on your behalf, saving you the time of looking for and manually inputting them.

While there are several browser extensions you can choose, the biggest ones are Capital One Shopping and Honey. But of those two, how do you know which one is better?

In this review, we’ll compare Capital One Shopping vs. Honey so you can determine which one is right for you.

Capital One Shopping Overview

Free Signup

Free Price Free browser extension and mobile app.

DollarSprout Rating Easy, automatic savings.

CapitalOne Shopping (formerly Wikibuy) offers multiple easy ways to save money, including online coupons, reward credits that can be exchanged for free gift cards, price comparison tool, and price drop tracking. When you add the browser extension, you'll get automatic notifications for deals on sites you visit. Save money with a single click.

Show Hide more

Pros

• Completely free
• Easy to add (and remove)
• Convenient ways to save money with minimal effort
• Safe and secure
• Desktop and mobile versions

Cons

• Gift card options are limited
• Tracks your online activity and transaction history
• “Best price” feature isn’t always accurate

Capital One Shopping searches offers from other sellers while you browse Amazon products or when you search on Capital One Shopping directly and tells you if you can get a better deal elsewhere. It’ll also alert you to coupon codes available when you shop online at their partner retailers, including Walmart, Ulta Beauty, Target, Overstock, and hundreds more. The extension is owned by Capital One and only works with U.S. stores.

For a full description of how it works, you can read our Capital One Shopping review.

Note: Capital One Shopping compensates us when you get the Capital One Shopping extension using the links provided.

Honey Overview

Try Honey for Free

Free Price Free browser extension. No app.

DollarSprout Rating No app. Coupons sometimes expired or unavailable.

Honey pays cash back for your online shopping. It's free to use, and the browser extension alerts you when they have a deal or coupon available for a site you're on. The Droplist feature also allows you to track prices on items you're interested in. You'll receive an alert from Honey with the price drops.

Show Hide more

Pros

• Shop as you usually would at your favorite online retailer
• Searches the web for legitimate coupon codes so you don’t have to
• Automatically applies the coupon code with the biggest discount, saving you the most amount of money possible
• Easy to use – just click the Honey icon when you’re ready to check out
• Offers a rewards program in addition to finding discounts

Cons

• Must install the extension on your browser
• Button appears on all shopping pages, which could negatively affect your internet shopping experience
• Honey won’t always find a discount code

Honey is owned by PayPal. It was originally a coupon testing tool, and while Honey still gives you automatic coupon codes to its partner retailers, it’s expanded to include several features to help you save money specifically on Amazon. It currently supports shopping sites in the United States, Canada, Australia, United Kingdom, and more.

You can get a full breakdown of Honey in our review.

Capital One Shopping vs. Honey Feature Comparison

To break their Amazon features down into a one-sentence comparison, Honey helps shoppers compare prices on Amazon across different Amazon sellers and Capita lOne Shopping helps shoppers compare Amazon prices to those at different stores.

But that’s an oversimplification; each tool does so much more to help you save.

Capital One Shopping and Honey both have a full suite of features that make them great assets for any deal seeker. Each tool has its strengths and weaknesses. You can easily add and use both browser extensions, but you may find yourself using one more than other, depending on what you’re looking for.

Let’s take a closer look at five key features of each: cash back, number and types of deals, coupons, price watch features, and mobile app experience.

Cash back

Capital One Shopping and Honey are some of the best cash-back apps out there. But the way they structure their cash-back offers differs. In order to get the most out of each, it’s important to understand those differences.

Capital One Shopping

Capital One Shopping refers to its rewards as Capital One Shopping Credits. Capital One Shopping Credits show up as cash value but aren’t available to receive in the form of cash — they can only be redeemed as gift cards. The amount of credits you need to redeem a gift card depend on which gift card you choose. Walmart’s cash-out option starts at just $0.01, while Lowe’s requires at least $5 in credits to cash out for a gift card.

There are two ways to earn Capital One Shopping Credits.

The first is by shopping with partnered stores online. A store is eligible if, when you’re shopping on the site, the Capital One Shopping extension pops up a button that says “Activate” in the top right of your window. Once you activate, any purchase made on that shopping trip will earn you Capital One Shopping Credits.

Unfortunately, Amazon is not a partnered store, but stores like Walmart, Kohl’s, and Groupon are.

You can also earn Credits through local purchases made on a linked card. Simply link your card to Capital One Shopping, then browse the local deals section on the website or mobile app. When you find one you want to use, click the “Get X% Back” button, and use your linked card when shopping at the retailer to earn credits.

New users can earn an additional $10 in Capital One Shopping Credits when they complete a purchase of $25 or more at a partnered merchant within 30 days of joining Capital One Shopping.

Honey

Honey refers to its cash back as Honey Gold. You can redeem Gold for gift cards at the rate of 1,000 Gold for $10.

You earn Honey Gold in the same way you earn Capital One Shopping Credits. They have the same conversion rate, but with Honey Gold, they show up as “points.” Even though they operate the same way, Honey is sometimes frustrating because it gives a range for its cash back, so you can’t know for sure how much you’re going to get. For instance, if I find a deal for a pair of shoes, Honey will tell me I can get between 5% to 8% cash back.

Capital One Shopping, on the other hand, gives one number, so you know exactly what you’re getting. And it’s often a higher percentage than what Honey is offering. Using the shoes example, Capital One Shopping tells me I’ll get 9% cash back on this deal.

Winner: Tie

While Capital One Shopping offers more opportunity and higher returns for earning Credits, Honey has more gift card options for redeeming rewards, including Target and Amazon.

Deals

Many Capital One Shopping vs. Honey reviews praise Capital One Shopping for offering their deal comparison feature on sites other than Amazon while Honey is only on Amazon. And while it is more well-rounded, Amazon Prime users and other avid Amazon shoppers may be fine just using Honey for price comparison.

Capital One Shopping

You can skip Amazon and visit Capital OneShopping.com to see all the available deals. Browse the trending deals or search for products to see all the offers and prices after any Capital One Shopping credits. It’s an extremely useful tool that shows you every price in one place, saving you from searching multiple stores and sites.

One thing that I don’t like about Capital One Shopping is that it sometimes shows incorrect deals.

When searching for a car seat, Honey showed the best deal, but Capital One Shopping said I could save $1.99 if I purchased the item from a different seller. However, that seller would’ve charged me $14 for shipping and tax, whereas shipping would be free on Amazon.

After clicking through to see who the retailer was, I saw that it was Walmart, where taxes and shipping were also free for the car seat. Although Capital One Shopping offered a better deal for ($1.99 in rewards), based on the way the information was presented, I wouldn’t have normally clicked it because it looked more expensive.

I saw the same tax and shipping calculation when comparing all offers on the product at Capital OneShopping.com.

Honey

Honey looks at its price history data to show its top 40 daily deals from various stores. When looking for deals at a particular store, Honey and Capital One Shopping had similar deals, but most of Honey’s “deals” were just links to the site’s sale pages. You can easily find these on your own.

But to be fair, when I clicked on Capital One Shopping’s deals, many of the URLs didn’t work.

When you’re looking at a product on Amazon, Honey will only compare prices on Amazon. However, if you search for the product at JoinHoney.com, you can see deals from other retailers. Unfortunately, Honey didn’t have an organized way to compare those deals, making it less user-friendly than Capital One Shopping.

Winner: Capital One Shopping

Because it makes finding deals more convenient, Capital One Shopping is the clear winner here. But given the issues with miscalculating shipping and tax, use it with caution and double check for yourself if the deals truly are the best.

Coupons

The best coupon sites are the ones that don’t waste your time making you sift through dozens of coupons to find one that works. Both Honey and Capital One Shopping do just that, using coupon codes gathered by other users and trying each working one on your cart. Out of all the codes that work, they’ll apply the one that saves you the most at checkout.

Capital One Shopping

Capital One Shopping’s coupon codes tester works at hundreds of online stores. When you have the Capital One Shopping extension installed, a pop up will appear in the upper right-hand corner of your browser when you get to a checkout page that it has working codes for.

Simply click “Try Codes” and it’ll search through available codes to look for a better deal.

Honey

Honey’s Savings Finder can apply coupon codes much the same way as Capital One Shopping’s, but it’s available on over 40,000 online stores. It’s also been around longer and has more users.

And because coupon codes for both tools are sourced from user data, I’ve found Honey often has more codes to try.

Winner: Honey

Savings Finder has far more codes than Capital One Shopping, works at significantly more retailers, and you can easily see how recently each code has worked.

Price watch

Price watch is an underrated feature of both extensions. It’s easy to miss deals if you’re not constantly looking for them, but both Honey and Capital One Shopping solve that problem by tracking price changes and notifying you instantly.

Capital One Shopping

The Capital One Shopping Watchlist allows you to track the price of an item. You can add an item from Amazon or Capital OneShopping.com, but there doesn’t seem to be a way to add an item from any other website to your Watchlist.

For example, if you want to track the price of a stroller on BuyBuyBaby, you won’t be able to do that with the Capital One Shopping Watchlist, but you can track the price of that item on Amazon.

Honey

Honey’s Price History shows how much an item’s price has gone up and down up to six months in the past, helping you choose whether to buy now or wait. If you choose to wait, you can add items to your Droplist and Honey will notify you when there’s a price drop.

Honey also has a Smart Droplist setting that, when turned on, can automatically add your Amazon “Saved for Later” items to your Droplist as well as detect and add items you view often.

Winner: Honey

The ability to see the price history of an item is invaluable in determining the time to buy. And the Smart Droplist is super helpful.

Mobile app

Both Capital One Shopping and Honey have apps you can use to shop, and those apps offer the same features as the browser extension.

Capital One Shopping

The best feature of the Capital One Shopping mobile app is the ability to scan a barcode and see potentially better prices for that item online. You can also easily find and activate local deals while you’re out and about, helping you save money on your in-person purchases as well.

Honey

Honey’s Smart Shopping Assistant app is pretty standard with no features that you can’t get on your browser. But if all you want to do is shop, find deals, and check out, you can do it all within the app.

Winner: Capital One Shopping

Even if you’re not sold on the Capital One Shopping browser extension, the ability to scan a barcode and compare prices on that product is a great time-saving tool.

Capital One Shopping vs. Honey: Which One Should You Use?

In the Capital One Shopping vs. Honey debate, you’ll save the most money using both extensions. Capital One Shopping can show you deals across several retailers in an easy-to-read chart while Honey can try dozens of coupons and show you up to six months of price history on Amazon. Capital One Shopping also has a mobile app that’s useful even if you’re not using the browser extension.

If you’re looking to save money and time, these extensions are definitely two to keep pinned on your browser.

The post Capital One Shopping vs. Honey: Which Cash Back Browser Extension is Better? appeared first on DollarSprout.

Even if you’re not frugal by nature, you can still learn a thing or two about saving by studying how the pros do it. To make that easier, we’ve rounded up some of the best money-saving advice from top frugal experts.

1. Double-dip on cash back to save on groceries.

Both cash-back credit cards and cash back shopping apps can put money back into your pocket. Pairing them together is a no-brainer way to boost your savings, says Nadia Malik, finance expert and founder of Speaking of Cents.

Malik uses the Discover It cash-back credit card. It pays 5% back on bonus categories and 1% cash back on all other purchases. One of her favorite ways to reap double cash-back rewards is by using her card along with the Ibotta app.

“Between the cash back from my card and the money saved via Ibotta, I save 20-25% on monthly grocery bills,” she said.

Malik also puts the usual grocery savings tips to work, including:

• Swapping out name brands for store brands
• Cutting out processed foods
• Buying in bulk and skipping pre-portioned foods

Altogether, she estimates that these money-saving hacks have helped her family trim their food costs down by 40 to 50%.

2. Stack your savings when shopping online.

Shopping online can save time, and you can earn some of what you spend back in cash when you use the best money-saving apps. Miguel A. Suro, an attorney and founder of The Rich Miser, saves 2 to 5% or more shopping online thanks to skillful stacking.

Like Malik, his strategy involves using a rewards credit card, the Citi Double Cash card, to earn a percentage of purchases back. But he increases his rewards earnings by:

• Signing up for store loyalty programs to earn rewards
• Using rewards apps to shop
• Downloading coupon and cash back browser extensions

Suro’s preferred apps include Rakuten, Bumped, and Swagbucks.

He also uses the DollarSprout Rewards browser extension and Cashbackaholic, which compares cash back offers from different apps to find the best deals.

Once you get your savings tools in place, the next part is simple: stack all of the above.

“For example, when I shop online at Sam’s Club I’ll get 2% back from my credit card, plus 1% back from Bumped,” Suro said. “I also get 2% back from Sam’s Club Plus premium membership and 2% or more from Swagbucks.”

That’s an easy 7% you could earn back from shopping like you normally would.

3. Hack your credit card for travel savings.

Using a travel rewards card could lead to major savings. Tawnya Redding, frugal expert at Money Saved Is Money Earned, saves thousands on travel by charging all of her purchases to credit cards to earn points.

She uses a multi-card strategy to maximize her points when charging travel, gas, groceries, and other purchases. Redding then parlays those points into free flights and hotels.

“I haven’t paid full price for a flight ever and typically only need to pay the fuel surcharge,” she said.

For some trips, she’s even been able to pay for a companion’s ticket or hotel room.

“I earn points for money I’d be spending anyway, so it’s almost like getting free travel for paying my bills,” Redding said.

Remember, if you’re planning to try this frugal hack, plan to pay your card balance in full each month. Otherwise, interest charges could slash the value of any points you’re earning.

4. Make money to save money.

Starting a side hustle is an easy way to make more money so you can grow your savings. But if you don’t have a lot of time, there’s a simple frugal solution: try mystery shopping.

That, along with using cash back apps, is how registered dietitian and founder of Frugal Minimalist Kitchen Bri Bell keeps her grocery budget in check. “I literally get paid to take a few photos and answer a short survey about something in the store, then I do my regular shopping,” she said.

Bell finds mystery shopping gigs through Field Agent and Mobee, checking apps daily to see what’s available.

“If I see a shop at one of my regular stores, I might decide to shop a few days early and combine my efforts,” she said. Otherwise, she’ll plan shopping trips as usual and will take advantage of any paid mystery shopping jobs available for that day.

Bell uses Ibotta and Checkout 51 to increase savings on grocery trips, along with the extra money she gets from mystery shopping.

Altogether she estimates that she saves $1,500 a year using these tactics.

If you’re looking for other side hustle options to make extra cash to save, here are a few to consider:

• Become an Instacart shopper
• Try online tutoring
• Get paid with a delivery side hustle
• Start a blog
• Become a freelance writer

If you’re considering a side hustle to save money remember to factor in any costs you might have to pay. Becoming an Instacart driver, for example, could help bring in extra cash, but you’ll have to pay for wear and tear to your vehicle.

Related: 11 Apps Like Ibotta to Earn Rebates and Get Cash Back

5. Let other people find money-saving deals for you.

Searching for promo codes, sales and other deals can be time-consuming. A simple work-around is to let someone else do the heavy lifting.

One way to do that is by following frugal experts on social media and joining deal groups on Facebook, said Melissa Garcia, founder of money-saving blog Consumer Queen.

A simple search for ‘deal groups’ on Facebook returns numerous listings for groups you can join.

“This saves me time and money because they spend their time scouring the best deals online and offline, and I get to reap the benefits,” Garcia said.

Garcia, who runs her own deal group on Facebook, says this strategy can lead to multiple opportunities to save. For example, these groups can be a gold mine for finding:

• Product giveaways
• Free samples
• Restaurant coupons
• Coupon codes for top retailers
• Access to exclusive sales

As a bonus, Garcia says some groups also include money-saving and frugal hacks, like how to make your own cleaning products at home.

A simple search can help you find bargain and deal groups on Facebook. You can vet them for quality by checking the number of members and how often new deals are posted.

Related: How to Start Couponing (a Beginner’s Guide)

6. Leverage cash-back apps for more than just shopping.

Rakuten can be a great tool for saving money, but it’s not just for buying clothes or baby gear.

Elizabeth Humberstone, frugal mom blogger at Shoestring Baby, also uses Rakuten to save hundreds on travel.

She stacks savings by going to Rakuten to choose a hotel booking company, always picking the one with the best cash-back deal. Then she signs into her account with the booking company and charges the purchase to her rewards card.

Effectively, she triple dips by earning rewards through Rakuten, the hotel booking site, and her credit card. This strategy has allowed her to earn $200 in rewards plus free award nights.

If you’re planning to book through a third-party company, keep in mind that you may not be able to pick up rewards for that same booking through a hotel loyalty rewards program.

Look at the rewards you could earn from the booking company against those offered by the loyalty program to decide which one offers more money-saving value. Specifically, compare the amount of rewards and what that could translate to in terms of free hotel stays.

7. Don’t overlook savings at home.

So far, these money-saving hacks have been focused on shopping or travel, but there are plenty of ways to save without leaving home.

Freya Kuka, personal finance blogger, and founder of Collecting Cents, uses several frugal hacks to save money on utility bills.

Some methods she uses to save money include:

• Installing a programmable thermostat
• Reducing the temperature on your hot water heater by a few degrees
• Using a low-flow showerhead
• Keeping your thermostat higher in summer and lower in winter
• Servicing your HVAC regularly and replacing air filters
• Using cold water to do laundry
• Running the dishwasher with full loads only

These money-saving measures can be more impactful over the long run, Kuka said.

“Instead of just getting discounted purchases from time to time, you’re saving money on a regular basis.”

While you’re looking for ways to save around the house, consider how you can negotiate or cut out certain bills. If you need a little help finding savings, consider using a service like Rocket Money, Billshark, or Trim to help reduce expenses.

Related: Trim vs. Rocket Money: Which App Can Save You the Most Money?

Saving Money Doesn’t Have to Be Hard

If you have some savings goals you’re working toward, these frugal hacks can get you on the right path. The tried-and-true methods included here show that it’s possible to save money on just about anything if you’ve got the right tools — and mindset — to commit to saving.

The post 7 Finance Experts Share Their Best Hacks for Saving Money appeared first on DollarSprout.

In DollarSprout’s recent Side Hustle Survey, 1 in 5 respondents said that they received an unexpected tax bill because of their side hustle or gig income. Discovering you’ll owe money to the government rather than receive a refund is a gut punch, and can often lead to extra side hustling just to pay your tax bill.

Those with a traditional 9-to-5 job have it a little easier; when they get paid, taxes are already taken out. There’s rarely a need to calculate how much they owe quarterly.

But if you have a side hustle or work in the gig economy, it’s not that simple.

Thankfully, side hustle taxes don’t have to be a mystery. Here are six simple tips to help you prepare for your taxes in advance, and avoid an unexpected bill come filing time.

1. Set aside a percentage of your earnings.

As a freelancer, it’s your responsibility to report your earnings and pay the taxes you owe, and you need to pay those taxes based on the gross income you receive.

Make sure you set aside 20% – 35% of your side hustle income to cover your tax obligations to the federal government, your state, and even your local government. These percentages are determined by several factors such as your level of income, marital status, and place of residence.

The money you pay in taxes covers a number of different things. For instance, your federal taxes, collected by the IRS, include your federal income tax as well as your self-employment tax that goes towards Social Security and Medicare. Your state and local government taxes may include an income tax or a business license fee tied to your income, so be sure to double-check with your local and state officials to determine the proper amount you need to set aside.

Start putting a portion of your income aside in a separate bank account from the first day you start freelancing. This will help you avoid playing catch up or digging into your savings every time taxes are due.

Related: 190 Best Side Hustles to Make Extra Money

2. Track your revenue and expenses.

You can also minimize an unexpected tax bill by keeping good records of your expenses that were incurred related to your self-employed income.

For instance, if you drive for Lyft, keep records of the number of miles you drive and how much you spend on gas, maintenance, and car payments. If you dogsit with Rover, keep track of expenses for toys you purchase, miles driven to the dog park and clients’ houses, and pet food or snacks. And if you moonlight as a graphic designer, track all the software subscriptions, training you attend, or any hardware you purchased to get the job done.

Whatever side hustle you do, find a tracking system that works for you and keep it up to date. You don’t have to pay for fancy bookkeeping software, but there are affordable, full-service products like Intuit or KPMG Spark designed to help you manage the books so tax time isn’t as stressful.

And most importantly, open separate bank accounts to keep your personal finances from co-mingling with the business.

3. Make quarterly estimated tax payments.

If you’re new to self-employment, it’s possible that you’ve never had to submit your own taxes. When you receive your monthly or bi-weekly paycheck from an employer, they’ve already taken the taxes out on your behalf. As a freelancer, that doesn’t happen. You are responsible for your paying your own taxes, and to avoid a large bill at tax time, it’s recommended that you pay quarterly estimated taxes throughout the year.

Failing to pay enough taxes throughout the year can result in underpayment penalties in addition to the taxes you already owe. Estimated taxes help keep you on top of your annual liability and the government’s cash flow funded.

To estimate how much you owe, look at your most recent quarter of income (ex., January – March) and apply the expected tax percentages according to your federal and state tax brackets.

Make sure you’re noting the due dates for paying your estimated taxes. Due dates for federal estimated taxes are typically January 15th, April 15th, June 15th, September 15th, unless the date falls on a weekend or holiday (in which case payment is due the following business day). City and local taxes are usually paid on an annual basis but check with your local regulations for the exact dates.

Keep records of these payments. They are an important part of your annual tax filing paperwork to determine eligible refunds or additional required payments.

Related: 25 Gig Economy Jobs to Supplement Your 9-to-5

4. Look at your previous year’s tax returns as a guide.

If this isn’t the first year with a side hustle, take a look at the forms you submitted last year as a reference for what to expect again. Did you deduct mileage from the business use of your car? Did you take the home office deduction for using a portion of your home specifically for business?

Make note of all the items you deducted and determine if you can deduct them again. And if you were surprised by a large tax bill last year, look at the amount of income you earned compared to your tax rate. This should help you plan ahead for what you’ve already brought home this year.

5. Report all of your income, even if you don’t get a 1099.

The IRS requires you to report all of your income, even if you don’t receive a 1099 form from your clients. This is another important reason to keep track of your bookkeeping with invoices and records of payments received.

Software such as KPMG Spark can help you create and track invoices, record payments and deposits from your customers, and quarterly tax estimates paid.

6. Don’t be afraid to ask for professional help.

There’s a reason you see a ton of tax preparation advertisements every spring – taxes can get incredibly complicated.

While you may feel confident plugging in the numbers from your W2 into online tax software, adding more and more layers of income and expenses can leave you frustrated and feeling lost. It can also lead to potential mistakes or problems.

Find a credentialed tax professional who can help you navigate your self-employment taxes. Ask them to explain the work they’ve done and if they have any advice to make it simpler or easier for the next year.

There are plenty of affordable, qualified professionals to help you. Try to avoid anyone or anything that feels sketchy, like guaranteed refunds, or someone who tells you to trust them without giving you a reason to.

Save Now to Avoid a Big Tax Bill Later

To make sure you’re paying your taxes appropriately and on time, set up a system. You can use a simple spreadsheet or accounting software to track your finances. It might also help to keep a separate bank account and set reminders on your phone to keep track of the important dates and payments.

Take a look at your current federal and state tax bracket, check with your local officials, and set a portion of your income aside as soon as you get it. This will ensure you have enough to pay your taxes, and you won’t have to work extra to find the money.

The post 6 Tips to Avoid an Unexpected Tax Bill from Your Side Hustle appeared first on DollarSprout.

Chances are, you’re paying for one or more expenses you don’t really need. But when you don’t have time to comb through all your transactions one by one to look for savings, there’s a tool you can use to do the work for you.

Trim is designed to be your own personal financial assistant for saving money. But can Trim really save you money and help lower your bills? We asked three Trim users to share their savings insight.

How Trim Works

Trim is a financial health company that’s dedicated to helping people solve their financial problems. The Trim financial assistant reviews your spending and looks for opportunities to cut out unnecessary expenses. But Trim can also help with other financial goals, like saving or paying down debt.

Try Trim for Free

Free Price Fees vary for premium features

DollarSprout Rating 4.5 out of 5 stars

Trim is a financial service that helps you negotiate bills, find and cancel subscriptions, and look for better deals on things you already pay for. The free plan also comes with monthly spending reports and some budgeting capabilities. Premium services such as bill negotiation and automated savings come with fees.

Show Hide more

Pros

• Free to sign up
• Negotiates bills on your behalf
• Helps cancel unwanted subscriptions
• Can get credits for cable and internet during power outages
• Cash back offers help you save money when shopping
• Convenient communication through Facebook Messenger

Cons

• No mobile app
• Must link your financial accounts
• Bill negotiation takes 33% of your yearly savings

Once Trim finds unnecessary expenses, it lets you know what they are so you can cancel them. These include often-overlooked expenses such as subscriptions, streaming services, and bank fees.

According to the company’s website, Trim has saved its users more than $40 million automatically and can lower individual bills, including cable TV and phone services, by up to 30%.

Trim offers both free and paid memberships. Free accounts include a personal finance dashboard where you can view spending alerts and reminders. For free users, Trim will also find and fight overdraft fees, detect and cancel unwanted subscriptions, and more.

Paid premium accounts include bill negotiation, debt payoff, and Trim Simple Savings.

Trim Simple Savings is an automated savings account that you can link to your checking account at your bank. Under the current promotional terms, you can earn a 4% annual reward on the first $2,000 in the account. After that, the interest rate drops to 0%. Like other savings accounts, your money is FDIC-insured up to $250,000.

Related: Trim Review: The Tool that Automatically Lowers Your Bills & Saves You Money

3 People Who’ve Saved Money Using Trim

Before testing out any new financial tool, it’s helpful to hear from people who have actually used it. If you’re considering using Trim to save money on bills, check out these personal saving success stories.

Willie uses Trim to save $40/month

Some people assume that saving money is only worthwhile if you can save large amounts at a time. But even small savings can add up and count toward your financial goals.

Willie Greer, founder of The Product Analyst, uses the Premium version of Trim, which you can try for free for 14 days, to save $40 a month on unnecessary expenses.

He was able to use Trim to cut $20 a month, or $240, a year from his cell phone bill. Greer has been using Trim to help cut costs for a year and says the savings he’s earned have been worth the fees he’s paid for the service.

His best tips for using Trim? Be smart about using the negotiation services and relying on the app to do all your money-saving for you. “Remember, the app should save you more money, not cost you more,” he said.

Here’s how bill negotiation with Trim works:

• You provide Trim with your service provider account information and current bill amount
• Trim reviews your bills to try to find better plans or promotions
• If Trim is able to lower your bill and save you money, you pay them 33% of your yearly savings

If you save $10 a month for 12 months, you’ll pay Trim $40. Make sure to weigh potential savings against the fee to help you decide whether paying for bill negotiation is worth it.

Related: Trim vs. Rocket Money: Which App Can Save You the Most Money?

Matt saved over $500 annually using Trim by cutting unused subscriptions

Matt Schmidt, owner and CEO of Burial Insurance Pro, has been using Trim for a little over a year and says it’s been an eye-opener for his spending habits.

“It really showed me how many subscription services I was paying for and ultimately didn’t need or use,” he said. He eventually eliminated about $500 in unnecessary spending, including:

• $15/month for Adobe Acrobat
• $12.99/month for Amazon Prime
• $14/month for pet insurance for a pet who had passed away
• $9.99/month for Sirius Radio

Trim helped Schmidt and his wife discover that they’d doubled up on subscriptions and were paying twice for the same thing. With the pet insurance fee, he estimates they’d paid it for 10 months without thinking to cancel it after losing their pet.

Some of the subscription services Trim monitors for includes things like:

• Streaming TV, music, and movie services
• Recurring software subscriptions
• Video game subscription services
• Paid subscriptions that kick in after free trial periods expire

These all fall under the heading of “gray charges,” meaning they’re small expenses that are easy to forget about it. If you have any of these, the free version of Trim can help you find and cancel them.

Anshul saves $50 to $60/month and earns cash rewards

If you’re caught between trying to pay off debt and save, Trim can make doing both easier.

Anshul Kahar, founder of personal finance blog Acetechdollar, has used Trim since 2018 and says it saves anywhere from $50 to $60 a month on bills. In addition to that savings, Kahar also picks up extra cash through Trim Simple Savings rewards.

The Trim Simple Savings account is included with a Trim Premium membership, which costs $99 per year. You can only earn a max of $80 a year in interest with the Trim savings account, so make sure you use the other features before signing up for a paid membership.

Premium membership also includes bank negotiation, regular and medical bill negotiation, subscription cancellation, financial coaching, and automatic credit card payments, the last of which Kahar says has helped with saving money on credit card interest charges.

Related: How to Cancel Subscriptions and Save Money on Autopilot with Rocket Money

Trim Makes Saving Money Hassle-Free

If you’re looking to plug the leaks in your budget, Trim can help you find the money to save. Whether it makes more sense to use the free version or the paid version depends on if you have the time or desire to negotiate your own bills or would prefer Trim to do the work for you.

Keep in mind that Trim won’t be much help for something like saving money on groceries or eating out less. But there are plenty of cash-back apps, such as Rakuten or Ibotta, that you can use to earn money back on those purchases and boost your savings even more.

The post Advice From 3 People Who Use Trim to Save Hundreds appeared first on DollarSprout.

Ibotta and Rakuten are two top shopping apps for earning cash back on purchases. Both can offer cash rewards when you shop partner merchants — but how do you make the most of them? Tana Williams, personal finance expert and founder of Debt Free Forties, shares her best frugal secrets for saving hundreds of dollars with Ibotta and Rakuten.

How to Maximize Savings With Ibotta and a Rakuten Like a Pro

Both Ibotta and Rakuten are cash back apps that reward you for shopping in-store or online. Williams has racked up approximately $500 in savings with Ibotta and $330 with Rakuten.

It’s easy to sign up for Ibotta or create a free account with Rakuten. Once you do, you can power up your cash back earnings with these tips.

1. Compare cash-back offers before you shop.

Williams’ first tip for making the most of cash back offers with Ibotta and Rakuten is to run the numbers before you shop.

“Compare the cash back percentages and coupons,” she said. “It’s surprising how wildly the amount of savings can vary.”

That starts with getting to know the retailers in each app’s merchant network. Ibotta works with approximately 300 retailers, including grocery and department stores. Rakuten’s partner network includes more than 2,500 stores. But there’s some overlap between the two.

For example, right now you can earn up to 10% cash back at Macy’s through Rakuten, but the rate is only 6% through Ibotta. If you’re not taking the time to compare offers from merchants across both platforms, you could be shortchanging your cash back earnings.

Related: Rakuten Review: How Does the Cash Back App Work? Is it Legit?

2. Time purchases carefully.

Cash back offers can fluctuate seasonally, so it’s smart to keep an eye on the calendar to maximize savings. For instance, Rakuten routinely offers double and triple cash back promotions seasonally that make getting paid to shop even more attractive.

Some of the seasonal deals you may want to keep an eye out for include:

• Back to school and fall promotions
• Holiday shopping
• Mother’s Day and Father’s Day
• Graduation promotions

While these deals usually don’t apply to every store, it’s worth waiting to make a purchase to snag them, Williams said. If you’re patient, you could easily multiply your savings on things you were planning to buy anyway.

Related: Ibotta Review: Is the $20 Sign Up Bonus Worth It?

3. Don’t miss out on added coupon savings.

Ibotta and Rakuten can both put cash in your pocket, but coupon deals can add even more to your savings total, Williams says.

There are two ways to make the most of coupons with either app. First, start by checking the coupon deals offered online at Rakuten.

Rakuten features daily coupons and promo codes that can save you money. These coupon deals combine instant savings with cash back, so it’s worth your time to scan what’s available that day before you shop.

The other way to leverage coupons is by stacking them when you shop with Ibotta. Let’s say you have a manufacturer coupon for laundry detergent. You can apply the coupon at the checkout when shopping in the store, and then scan your Ibotta receipt to get cash back rebates.

Coupons and promo codes are a simple way to double dip, but read the fine print and make sure you can stack them with cash back offers. If you can only choose one, Williams says to check the promo code or coupon savings against the cash back offer to see which one has the bigger payoff.

Also, look out for stores marked “Coupons Only” or “No Discount” when shopping Rakuten. In that case, you’ll only get the coupon deal advertised, but won’t earn cash back.

Related: 10 Best Apps Like Ibotta to Earn Rebates and Get Cash Back

4. Compare in-store versus online deals.

Both Ibotta and Rakuten let you earn cash back rewards when you shop online or in stores. But that doesn’t mean cash back deals are always the same.

For example, Dick’s Sporting Goods offers 1% cash back when you make a purchase online, but 1.5% cash back when you shop in the store with Rakuten. On the other hand, you can earn 10% cash back shopping Calvin Klein online, but only 2% cash back in stores.

When weighing in-store versus online cash back offers at Rakuten, consider the trade-offs.

For example, you could earn more cash back going to a store, but you’re also spending time and money driving there. If the cash back gap isn’t that wide, it might make more sense to shop online and save yourself some time.

“If you’re shopping in-store with Ibotta, make sure you’ve added the offers you want to take advantage of before completing your purchase”, Williams says. Otherwise, you won’t be able to redeem the offers after you check out.

Related: 11 Best Shopping Apps to Score Epic Savings

5. Consider a cash back credit card, but weigh the pros and cons.

Cash back credit cards are another easy way to stack cash back savings with Ibotta and Rakuten, Williams says.

Let’s say you have a cash back card that pays you back 3% at grocery stores and department stores. You have an Ibotta rebate offer for 3% back at your favorite grocery store and a Rakuten offer for 10% back at the department store you shop at most often.

If you were to pair your card with those offers, you could easily earn 6% back on groceries and 13% back on department store purchases. That assumes, however, that you’re paying your card balance in full each month.

Carrying a balance month to month means paying interest, which essentially negates your cash back earnings. Before you shop, consider your credit card spending and payment habits to make sure you won’t cost yourself money in the long run.

Saving Money with Ibotta and Rakuten Has Never Been Easier

If the idea of using money-saving apps sounds good, then Ibotta and Rakuten can both help with making your frugal goal a reality. The key is knowing how each one works so you can make the best use of them.

Don’t forget to have a plan for the cash back you’re earning so you can stretch those extra dollars in your budget as far as possible. You can use the funds to save for a down payment on a house, an emergency fund, or as extra spending money in your budget.

The post This Savings Pro Collected $830 from Ibotta and Rakuten Last Year. Here’s How She Did It. appeared first on DollarSprout.