I was just sitting here reading a blog about getting 15% extra from your stimulus check if you put it on a United Supermarkets gift card. Well I can't do that because none of the stores around here offer any kind of incentive, and I have never seen a United Supermarkets in my life.
So as I was reading this a thought popped into my head. I thought, what if I bought some gift cards to the stores I normally grocery shop at, so that way when my husband gave me my weekly "grocery allowance" I could put that money in the bank instead. I was thinking I could put 50$ on a CVS gift card and maybe 100$ on a Walmart gift card, etc etc.
Then after I was so excited thinking this is such a great idea, another thought popped into my head. Wouldn't putting it on gift cards be basically the same thing as just depositing it into my bank account? I mean, realistically, if I put 300$ on gift cards and didn't spend anything OOP, I would still technically be spending OOP. Plus the money I would be able to put into savings each week from being able to spend my gift cards would be the same thing as just putting the initial money into savings and not getting gift cards....
Catch my drift? So I am asking you, what do you think of this idea? Has anybody ever did this and found it to help in anyway? I was thinking it would help me save some money but in all reality I would be saving the same as any other time. It still seems kinda neat though I guess, what do you think?
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3 comments:
I think the gift card thing is a great idea!
Great idea as long as you don't misplace your gift cards.
I think it would be a good idea as long as your going to get the extra 10-15% stores are offering, like United, Kmart and several others. Otherwise, if you were going to put that money in a savings account and it would be making money on interest that would be better than it sitting on a gift card not making anything. That's just my opinion though.
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