Work it baby, work it.... store rewards!!

Wherever you prefer to shop, rewards programs are the norm these days. They are also overwhelming. It's tricky to even find your card, let alone understand the intricacies of the system.

Out of your favorite stores, pick a couple and really get to know and use their rewards programs. Later you can check out a couple of other stores to compare. Keep it simple.

Let me give you an example. When my daughter was a baby, I would not even bother to walk into a Gymboree store because there was no way I was going to pay those prices. Now, it's hard to find anything in her wardrobe that isn't Gymboree!! The reason is that I understand their rewards program, use it to buy clothes at 70-90% off, and it's got good resale value (look for reselling in a future blog).

Here is how I stack up there savings:

• Sign up for their rewards card - instore or online, it takes two minutes, you'll get rewards vouchers, coupons, and advance notice/access to sales.
• Sign up for their Visa - you'll get an extra 5% off every Gymbo purchase (*Note: only do this if you can use a credit card and pay it in full each month. Interest charges negate any savings.)
• Always use a coupon - Family Fun, Parent, Parenting magazines.
• Always shop sales and clearance.
• Gymbucks - on a quarterly basis, you can earn $25 in Gymbucks for every $50 you spend and redeem them the same way during their 10-day redemption period. (Keep those purchases as close to $50 increments as possible to maximize savings.)

Let's crunch some sample numbers. Let's say I make a purhcase that would total $175 at full retail value. BUT...I never pay retail. So watch how the savings stack up:

• Brick 1 - I shop the clearance racks and average a 60% markdown (this is doable and you can do better) - $175 now will cost me $70.
• Brick 2 - I have a Gymbo Visa - additional 5% off - $66.50
• Brick 3 - I have a 20% off coupon - $53.20
• Brick 4 - I paid $53.20 and earn $25 in Gymbucks

So far I'm at 70% savings on my purchase, but have potential for more savings. Next, during the Gymbucks Redemption period:

• Brick 1 - I shop clearance for an average of 60% off - $140 in clothes on clearance - $56
• Brick 2 - I use Gymbo Visa - additional 5% off - $53.20
• Brick 3 (coupons cannot be used with Gymbucks)
• Brick 4 - Redeem $25 Gymbucks - pay $28.20

Now, over the past three months, I have purchased $315 in clothing for $81.40. That's 75% off!!!

Later I can resell it and likely pay $0 in the total cycle or actually make money. We'll save that for a future blog post.

Remember, I am sharing an example of how I stack different savings opportunities. Many stores have their own program. All stores, including Gymboree have policies that are subject to change so pick a favorite store and get familiar with the policies. You'll likely make a mistake or two in the beginning, but the savings really do start to add up.