$900 worth of items for $350 plus tax
About five years ago my partner and I bought a flat screen TV. When sales people start talking about extended warranties, we usually just zone them out. We think it’s just a money grab. But this time we paid attention. It seems that Sears (and also the Brick) have a coupon they will give you at the end of the warranty period that is valued at the price of the extended warranty, if you didn’t use it. In other words, if you purchased a five year warranty for $350 like we did, and didn’t use the warranty, then at the end of the five years they will give you a coupon for $350 to be used in their stores. There are a number of conditions, however, including the fact that the coupon is only valid for 90 days after the warranty has expired AND you have to spend twice the amount of the coupon to be able to use it. So we would get a coupon for $350, but we would have to spend $700 to use it.
I keep a day planner, so at the end of every year for the past five years I’ve made a note about that warranty expiry date.
So here we are, five years later. But where is the original receipt? Luckily I am a smart canuck, and I always tape the receipt to the back or the bottom of the item I purchased, in case we need to find it later.
So I called Sears, arranged to get the coupon, and now I have it in my hot little hands. So how to use it?
First, my coupon was valid during the after-Christmas sales at Sears, so I scouted out the sale prices.
Second, I went home and looked at what really needed replacing, or may need replacing in the very near future.
Third, I planned my attack. I knew I had to spend a certain amount, so I calculated it out so that I didn’t spend too little, and I didn’t spend too much.
So finally, with list in hand, I went back to the store. I knew exactly what I wanted and how much it cost. It included some birthday and anniversary gifts, as well as clothing we really needed and a major appliance.
So in the end with the great sale prices and the coupon, I purchased $900 worth of items and I spent $350 plus tax. So I saved about $550. Not bad!
So pay attention to opportunities that you might not even know existed.
Keep track of your purchase receipts.
And plan your shopping to maximize your purchasing potential.
