For the longest time, I had been eyeing the YSL Classic Kate Tassel Chain Wallet. Last week, I finally decided to just go for it and buy it. A designer bag is definitely not cheap, but I used 3 easy life hacks to save tons of money. The price I would have needed to pay was $1772.72, but I managed to get it for $1159.97 – over $600 cheaper. Keep reading to learn all my shopping hacks!
Open a New Credit Card
I was long overdue for a new credit card. I’ve been using the same Bank of America one that I’ve had since high school and it basically has no benefits to it. So, I decided to apply for the Chase Freedom card. Many sources say it’s one of the best rewards credit cards out there. I’ve also heard from friends that it’s a good everyday use card and gives good rewards. It’s 5% cash back on rotating quarterly specials and 1% cash back on everything else. For 2017, the 5% cash back specials were: gas stations/local commuter transportation in Q1, grocery stores/drugstores in Q2, restaurants/movie theaters in Q3, and Walmart/department stores in Q4. There is a cap though – you get 5% back on combined purchases up to $1500, so you basically get $75 back if you reach $1500.
This worked out perfectly for me because my purchase falls under the department store category and I was purchasing it in Q4. So just from that, I earned $75 back.
That’s not all though – you get a $150 bonus if you spend at least $500 within your first 3 months of opening the card. SO, the total amount I earned from just opening a new credit card was $225. I basically used my card’s bonuses to pay for my bag. I see it as free money.
Now I’m not saying this is something EVERYONE should do. If you think it’ll be a poor life decision, you should probably skip this one. You definitely don’t want to be opening credit cards left and right – that can’t be good for your credit score. BUT, if you are financially stable and you plan on making a big purchase anyway, you might as well capitalize off it a little and make some money back from your purchase.
If you are interested in applying for this card, it would be super cool of you to use my referral link <3
Sign Up For the Store Newsletter
Many department stores offer a coupon code if you subscribe to their emails. I decided to buy my bag off Neiman Marcus because they offered the most generous deal (15% off your purchase). So my bag’s price was $1650 before tax (or a whopping $1772.72 after tax). With the 15% off coupon code applied to my order, the price before tax was $1402.50. I saved $247.50 just for signing up for a newsletter!! That’s a crazy good deal.
Let’s keep track of how much I saved so far: $225 from my credit card + $247.50 is already a savings of $472.50. AND I’M NOT DONE YET. *Hysterical cackle*
Take Advantage of Ebates
If you don’t already know what Ebates is, it’s an amazing website that partners with popular stores to offer you cash back for every purchase you make. The amount of cash back you get from each store changes frequently, so keep an eye out for good deals. I saw Neiman Marcus was giving 10% cash back, so I jumped on that opportunity right away.
I downloaded their Google Chrome extension so when I visit a store’s website, I get a pop-up notification if they are offering deals. Once you click “Activate” , it’ll track your checkout process and log your purchase on your Ebates account. They send you cash back within a few days. There are a couple ways you can get your cash back: you can have them send you a check in the mail or you can have it sent directly to your Paypal.
I think Ebates is such an awesome tool for shoppers. Getting 10% back on a purchase is hard to believe! So from using Ebates to buy my bag, I scored an additional $140.25 cash back. If you’re not already on Ebates you should 100% sign up now! You’re missing out on free money every time you buy something online. Ebates isn’t just for clothing/department stores – there’s a huge variety of stores and Amazon too. I know how y’all are addicted to buying stuff on Amazon! Why not get a couple bucks back every time you make a spontaneous purchase from Amazon?
The Grand Total
Alright, I used quite a few tactics for this particular purchase (but it was so worth it)! Let’s add up the grand total:
$ Earned from Chase Freedom Card: $225
$ Saved from Neiman Marcus Newsletter: $247.50
$ Earned from Ebates: $140.25
TOTAL SAVINGS: $612.75
LOOK AT THE INSANE AMOUNT OF MONEY I SAVED. If I had purchased this without doing any of the three steps, I would have paid a whopping $1772.72. But with all the combined savings/cash back, I was able to get it for $1159.97.
Hope these little shopping tips and tricks helped! Try it out the next time you need to make a big purchase like a designer bag. I promise you that you’ll save boatloads.