Welcome back, fellow parent

Let’s talk about one of the ways to save money, coupon apps.

Considering it's 2024, I felt behind the curve not using a coupon app, so I started to dig into the topic.

At first, I was skeptical - how could a coupon app be better than a good old-fashioned paper coupon? 

From what I researched online, you can save upwards of $500 per year using Ibotta. That's pretty substantial and adds up quickly. I found this story about a guy who saved $4k by using Ibotta. 

Needless to say, I’ve signed up.

The TL;DR

If you’re short on time today, here are the key takeaways from today's newsletter:

• Ibotta is a powerful coupon savings app that can save you hundreds of dollars per year just by shopping at the stores you’re already going to.

• If you want to give it a try (it’s free) - sign up at this link. No pressure, but if you use my code at signup - KFKDXDX - we’ll both get $5 after you start earning cash back as part of their refer-a-friend program.

  • Disclaimer: the above link may fall under the rules of an affiliate program. All this means is that we’ll both receive earnings by using the above link, with no extra cost to you.

• Other great coupon apps to consider are Rakuten and The Coupons App. Rakuten is best known for online shopping and The Coupons App is known for real-time updates on the cheapest gas prices.

• While coupon apps are much more convenient than print coupons, there’s still a time investment to using them. Keep that in mind when making time trade-offs during your day. You may be able to use that spare time to earn more money than you can save on the apps.

Tangible Benefits of Coupon Apps

We’re going to keep today’s newsletter short and sweet as it’s a pretty straightforward topic. Here are the pros of using coupon apps:

• Cost Savings: Coupon apps offer immediate discounts and cashback opportunities, helping you save money on everyday purchases and big-ticket items. At least with Ibotta, this is real cash back, not another point program.

• Convenience: These apps are super easy to use. You can search for deals and coupons right on your phone. Plus, you can easily claim offers by uploading receipts or linking your store loyalty cards.

• Wide Range of Deals: Each app is different, but there’s a crazy range of stores available to earn discounts and cashback from. Keeping the theme of today’s newsletter to reviewing Ibotta, they have over 2,000 partners to choose from. A few big brand names include Walmart, Home Depot, and Best Buy.

• Rewards and Bonuses: Many apps feature loyalty rewards, welcome bonuses, and referral incentives, further enhancing your savings as you shop. One of the reasons I chose Ibotta was for their referral program, both you and your friend get $5 for the referral. Win-win in my book.

• Time Efficiency: While I do love a good paper coupon, you can’t beat the speed of having digital coupons. Plus, I can’t remember how many times I get a paper coupon in the mail and then forget to bring it with me. 🤦

While I’ve spent quite a bit of time talking up Ibotta, there are a TON of other options out there. Rakuten and The Coupons App pop up quite often across several articles, catching the eye of brands such as Nerdwallet and Investopedia.

Rakuten is best for online shoppers as they have an ex

The Downside of Coupon Apps

Nothing is perfect and there are always trade-offs to consider, especially when it comes to your wallet. Here are a few cons to using coupon apps:

• Potential for Overspending: These companies are in business for a reason and are really good at getting you to shop. Remember, just because something is on sale, doesn’t mean you need to buy it. Focus on only necessary purchases.

• Privacy Concerns: I’m a bit old-school when it comes to data so this one is big for me. With every tech-based company now, they’re going to collect your personal data and shopping habits. Best case they use it to show you related items you may be interested in. Worse case, they may share it with third parties or use it for targeted advertising.

• Time Commitment: To truly benefit from coupon apps, you often need to spend time searching for deals and managing offers, which can be time-consuming.

• Minimum Thresholds: Some apps require you to reach a certain amount of savings or cashback before you can redeem, which can be frustrating if you're a casual user.

At the end of the day, do what’s best for you. Use the apps to earn cash back on purchases but don’t go crazy. Keep your budget tight and stick to your financial plan for this year.

If you are looking to start or revamp your budget, I have a spreadsheet for you to consider. It’ll only take a few minutes each month to keep up-to-date and it’ll shine a light on where your money is going.

Looking for a more hands-off approach to your budget and financial goals this year? Reply with what’s on your mind and I’ll see how I can help.

I’d Love to Hear From You

Have you tried using a coupon app? How did it go?

What are other clever ways you’re saving cash this year?

Reply to this email and share your experiences or tips. I’d love to feature you in a future newsletter.

Money News 🤑

1. Tesla Making Headlines: Earnings season is one of my favorite times of the year - glad it comes around 4x annually. Tesla has had a tough YTD, with the stock being down ~22% (as of the date of this writing). But earnings season brought a 5-Day surge of ~35% with the news of cheaper EVs coming and progress being made on advanced driver-assistance tech in China.

2. A New Sustainable Coin: In Crypto news, the Royal Finance Coin pre-sale was finally announced. While there are other eco-friendly options, this coin has been long awaited with it’s deep focus on long-term sustainability. In case you didn’t know, Crypto mining has a pretty significant impact to the environment.

3. Interest Rates: Ugh, inflation is holding steady. While no one knows for sure, experts believe the Fed will hold interest rates where they are during the upcoming meeting. Hopefully this will change later this year.

Thank You for Reading

Thanks again for reading. I’m grateful to be part of your financial journey.

Talk soon,

The Dollar Dad

P.S. If you liked this newsletter, please share it with your friends and family here. Reach out anytime with your top money questions, I’d love to help.