Stretch Your Money This Holiday Season

The gift-giving season can be tough on your finances. One way to deal with that? Use stretch theory.

What Is Stretch Theory?

Stretch theory is a term created by the cashback and coupon rewards program Rakuten. The premise is simple: Use as many cost-cutting actions as possible to make your money last – or stretch – further. So instead of focusing on cutting back, you focus your attention on finding as many deals, discounts, close-out costs, etc., as possible.

How to Apply Stretch Theory

Try these tips:

• Comparison Shopping. Use price comparison sites like Google Shopping to find the lowest prices.
• Favorites. Check on your favorite retailers’ sales and know what will be featured.
• Rewards. Sign up for retailers’ rewards programs.
• Mobile Apps. Use shopping apps and sites (like Rakuten) that generate cash-back offers while you shop online.
• Promo/Coupon Codes. Search for codes and use them.
• Perks Card. If you have a cash-back card, use it often. Remember to pay off the card in full each month.
• Online Deals. Search online retailers for closeout deals. 

Creativity Is Key

The key to stretch theory is getting as creative as possible. If you put in some work, you will surely find ways to save money this holiday season.

Do One Thing: Try using stretch theory when money is tight.

Source: Chris O’Shea, savvymoney.com