Favorite Reward Programs

Many stores and businesses offer rewards programs to encourage consumers to continue shopping with their brand. Here are a few of rewards programs that our family utilizes, and I would love to hear about the programs you have found valuable.

Kassa Cash Back on Debit Purchases - A trend that started with credit cards is quickly becoming an industry standard with debit cards as well. Our credit union began offering cash back on purchases. This seems like a no-brainer to take advantage of for those monthly bills you use your debit to purchase. We earn 2% with a max return of $12 a month. Certainly not an amount to retire on, but it adds up to $144 a year.

ebates.com It may seem like I’m beating a dead horse with referencing this site, but it’s really a simple way to get cash back for purchases you’ll be making online anyway. You simply set up an account at ebates and search their site for participating stores. If you can use their cash back offer, you’ll follow the link which will lead you to the retailers store front. You make all purchases directly with the retailer and ebates will generate a ticket after the purchase is completed and apply it to your account. Quarterly they will send a check to your house. I’ve received $172 using this site for the past couple years. There are also incentives for referrals so if you’re going to check it out I’d appreciate you following this link on the side of the page.

Grocery and Gas Partnerships - This is another great rewards program for things that we need to purchase anyway. We don’t take full advantage of these programs because we primarily shop at Aldi which doesn’t partner with any gas stations, however, our local Knowlan’s has partnership with Kaposia Convenience. We get 5 cents off a gallon for every $50 we spend. Many Financial Peace University families have shared that this is a great way to save a few bucks each month.

Fantastic Sam’s - I was really disappointed when Fantastic Sam’s moved away from their punch card system. With a family of 5 someone was getting a free haircut every other month. Their current rewards program keeps track of all purchased haircuts and issues a $10 off coupon after spending $250 on cuts and products. In addition to building towards a reward, participants also receive regular coupons for discounts on products and services. Our family isn’t too picky about our hairstyles or seeing the same stylist and have been really pleased with the local service. 

Walgreen’s - It seems like someone is always in need of a prescription at our house, and picking up the medicine at Walgreen’s allows us to take advantage of their rewards program. After signing up, purchases build until reaching a “goal” and then a cash discount is applied on the next purchase. We are all about finding simple ways to discount purchases we need to make and this is a great fit for us.

Thrift Stores - Our local thrift store Neighbor’s Inc offers a punch card that provides a $10 discount after it is filled. Since prices are cheap, it takes awhile to fill the card but when I get a $10 shopping spree the money can be stretched awfully far. To my knowledge, Goodwill doesn’t offer a rewards program, but you can get a 25% discount coupon for a donation. Again, that type of savings can be a real workhorse when buying second hand items.

Kohl’s - This list would not be complete without giving a nod to the mother of all rewards programs. Kohl’s seems to be the holy grail of getting people to spend more to rack up their rewards points in the form of Kohl’s Cash. Their rewards programs offers $5 Kohl’s cash for every $100 spent. They also periodically offer Kohl’s cash in store or online, on top of their rewards program. Combine with coupons ranging from 10%- 30% and checking the ebates offer (today it is 6% cash back) there are plenty of ways to save at this store. We certainly take advantage of all of these rewards program but skip using a charge account.

None of these rewards programs will make you a millionaire, but there are plenty of simple ways to discount products that are going to be purchased anyway. I can’t wait to hear about the rewards programs that you love. Please add them in the comment section below.

Making Peace with my Kohl's Breakup

I loved Kohl’s. Everything is always on sale, and it’s a rush to head up to the register and earn Kohl’s cash and discounts on the pile of stuff that I place on the counter. And I loved my Kohl’s card back in the day. I mean 30% off!!! Who wouldn’t love that kind of discount on everything you need. I’d stock pile my lists, await my coupon and strut into the store prepared to do major damage with a tiny piece of plastic. 

Then I read The Total Money Makeover, and worse, so did my husband.

In the summer of 2007, we drew a line in the sand and decided that we were going to stop using credit. We weaned ourselves off of our Amazon sponsored Visa Credit Card that offered $25 gift cards for every $2,500 we spent. We cancelled all the random charge accounts we had opened to get an immediate discount or t-shirt. And then, we turned to that maroon card that was left. Ugh. It was so hard. In the end, my Kohl’s card was cut and closed as well, and I mourned.

When people begin cutting credit cards in Financial Peace, there is ALWAYS someone, usually a woman, who can’t wrap her heart around closing this account. I’ve heard, (and long ago presented) all the arguments. The 30% off coupon is too good to pass up. Kohl’s cash is amazing and you can’t give away free money. Right?

The answer that has made me most confident in my breakup my Kohl’s charge is the phrase, “It’s not you, it’s me.” As in, my thinking, behavior, and values have changed and this relationship just doesn’t fit anymore. 

When I am thoughtful about my spending at Kohl’s, I’ve come to see that we aren’t really talking about giving up a 30% discount, but more like a 10% one. I can logon to kohls.com any day and find the coupon on the front page offering me 10-15% off my purchase, WITHOUT using a Kohl’s charge. I can also sign up for their rewards program and emails that will offer me 20-25% discounts a couple times a year. Today I got a free $10 coupon just for Mother’s Day! I am also still able to earn Kohl’s cash at the same pace as those carrying a card. If I choose to make a purchase from home, I always start with ebates.com to earn an additional 1-10% cash back. Today the offer is 6% of each dollar spent! Of course I could save a bit more using a Kohl’s charge, but we’re talking about 10% of the purchase. 

Changing my behavior and shopping with cash and a budget saves me much more then 10% at Kohl’s with each shopping trip. Cash has allowed me to feel money in a way that the maroon card never allowed. I don’t overspend or pick up another few items outside of my budget to reach a certain dollar amount for more Kohl’s cash. When the money is gone, I’m done shopping. We are able to work towards our financial goals without getting derailed by a sale or coupon.

My values have shifted so dramatically since starting our total money makeover that I have a lot of peace with my breakup with the Kohl’s charge card. My husband and I are so focused at reaching our financial goals that chasing a discount feels more like a distraction than a tool. Truth be told, my Kohl’s cash often expires now because I don’t want to get sucked into buying something extra just to use the “free money.” 

The marketing department at Kohl’s knows exactly what they are doing, and they are excellent in that manner. I’d rather not chase money in that manor, and focus on having my budget reflect the bigger picture in my personal finance story.

Have you broke up with Kohl’s? What are your thoughts looking back on the relationship?