Finances

Savings 101

What is it? How can I save more?

December 22, 2020

This blog post contains affiliate links.

What is savings?

In layman's terms, savings is the difference between income and expenses. Savings is the money left over from your spendings. For an example, when you gain $4,000 and used $3,000, then your savings is the remaining $1,000. More information about budgeting can be found on Investopedia.

A couple of helpful tips.

My Asian Side's Perspective

The aftermath of what happened in college propelled me to get better with personal finances. I have found different ways to save and earn money through the years. Below* are the apps** that I like and use daily to help save on groceries and shopping along with earning money. If I come across other apps, I will include them later.

Ibotta: This is a grocery/shopping money saving app that allows you to earn cash. All you need to do is sign-up with an email or Facebook. Then, pick your stores that you shop at and browse through their coupon selection. From there, you add the items you want money off and go shopping. Make sure to keep your receipt and take a picture of the receipt along with any required barcodes to get the money back. After reaching $20 in your account, you can withdraw to your bank or PayPal. I have been using Ibotta for the last 5 years and have earned a decent amount from it. Use my code HERE to sign up and earn REAL FREE money for shopping!

Fetch Rewards: This is a grocery/shopping money saving app that allows you to earn points to get gift cards. All you need to do is sign-up with an email or Facebook. Instead of picking your store and pre-selecting items, all you need to do is scan your receipt and the app will generate the points you have earned per receipt. After reaching a certain amount, you can redeem the points for gift cards. I usually redeem Amazon gift cards, which is the most useful to me. Use my code HERE to sign up and earn POINTS which in turn becomes gift cards to Amazon and other retail places!

Checkout 51: This is an all-in-one money saving app (grocery/shopping/gas/pharamacy/surveys) that allows you to earn cash. All you need to do is sign-up with an email or Facebook. You can earn money for grcoeries which you would need to pre-select the item, scan your receipt and barcodes, and wait for money to deposit into your account. After reaching $20, a check will be sent to your address. You can also use these apps for gas and other purhcases that is made available on the app. I have been using this for the last 3 years and made some money. It's harder for me to earn money because our household is selective with our foods.

CoinOut: This app allows you to scan receipts and get money back by signing up via email or Facebook. You can earn money through any receipt and would need to have $20 in your account to cash out via PayPal, bank, or gift card. I just started this app and it's painful to earn money because we don't go out as much for dining or groceries.

Grocery Store App: Down in the southeast region of the United States, Publix is one of the major grocery stores. They have a Publix app that allows you to clip coupons that are offered by Publix.

Receipt Hog: This app allows you to scan receipts and get money back by signing up via email or Facebook. You can earn coins which turn into money through any receipt. You can redeem your coins via Amazon, Visa, or PayPal for the following $5 (1,000 coins), $15 (2,900 coins), $25 (4,300 coins), and $40 (6,500 coins). I've been using this for a while and made like $25, which is okay.

Receipt Pal: This app allows you to scan receipts and get points to redeem for gift cards by signing up via email or Facebook. There are different reward levels that allow you to redeem different e-Gift cards. I usually stick to Amazon gift cards because I know I will use them. Use my code HERE to sign up and earn POINTS!

GetUpSide: This app allows you to save money on your gas by signing up via email or Facebook. In order for it to you, you would need to pre-plan where to gas up based on the map in the app. Click on the claim button, gas up, and scan the receipt to get the money back. You can cash out via PayPal or any of the available gift cards. Use my code HERE to sign up and earn money back!

Rakuten: This app allows you to earn money back with online shopping by signing up via email or Facebook. You can get paid via PayPal or having a check mailed to your address. I don't usually shop online as much, therefore, I have not banked a lot with Rakuten. Use my code HERE to sign up and earn cash back!

RetailMeNot: This app allows you to earn money back with online shopping by signing up via email or Facebook. You can get paid via PayPal. I don't usually shop online as much, therefore, I have not banked a lot with RetailMeNot as well.

StudentBean: This app is only for college students. If you are a student, you will qualify to get discounts on certain stores by signing up with your student email address.

Survey Junkie: This app allows you to earn money from taking surveys by signing up via email or Facebook. You can reddem your points for money. Use my code HERE to sign up and earn cash back!

Google Opinion Rewards: This app allows you to earn money from taking surveys by signing up via your Gmail. Once you earn $2, Google will send you a payment via PayPal.

*As long as you are okay with trading some time and effort for cash, see below.

**Most of these app suggestions are for an iPhone and the App Store. I am not sure about Androids and their app store.

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