Ask a Raise Pro: David R.
If you know Raise, you know that our mission is to save you money. The best part of our job? Hearing from our members who have benefited from those savings. Whether it’s booking a family trip or saving on your pet food every month, we love hearing what Raise is helping you accomplish.
We asked one of our biggest savers, David, to tell us how he uses Raise to make his money go further. David is a husband and a father, who works in the financial industry in Texas. Keep reading to learn how he’s saved thousands with Raise.
Back in November, you shared that you had reached $4,000 in savings — very impressive. Now that it’s February, how much have you saved?
$4,318.10!
What’s the next milestone you want to hit? Did you make any specific financial goals / resolutions for 2018 that involve Raise?
I just did an analysis of all my American Express credit card purchases for 2017, which is over 90% of all my spending. I was really struck by how much we charged to our credit card that could have been spent through Raise gift cards. I went store by store to determine if that retailer is on Raise or has gift cards that could be on Raise. We found that we had spent $17,000 at places where we could’ve gotten a gift card on Raise first!
Now our goal is to make 2018 the year that we use Raise for every possible purchase!
Do you have any Raise savings stories that really stick out to you? For example, did you use Raise to save on a big item or get a really exciting deal unexpectedly?
Verizon is the winner for me. I look maybe 10 times a day looking to see if any inventory shows up. Yesterday I was talking to a friend and jumped out of my seat when I pulled up my favorites and a single card had shown up! After furiously hitting buy to put it in my cart my friend had to know what on earth had come over me. It was a $150 card for $144 so only $6 savings, but I spend $500/month at Verizon so every card I can get counts. I just love getting those because it feels the most like winning something. Most other inventory is out there all the time so I can get some savings anytime.
How do you view your savings? Is it a competition that you play to see how much you can save? Or do you take your savings and reinvest them in anything like family vacations, items for your home, a car, etc.?
I review my American Express year-end statement and import all my transactions into Mint and Empower to analyze all spending and see what we didn’t spend using Raise. I try and keep track of what I get as savings per retailer and set thresholds for when to stock up. Walmart is usually 2.5% off, but if the discount is ever higher, I pretty much buy all the inventory. Panera is more like 15% off. Verizon is any savings at all. I don’t buy 0% cards on principal but I’ll buy 0.1%
I don’t put the savings towards anything specific. It just shows up in the ability to spend more every month. I have noticed about $200/month in additional spending which gets used eating out or taking trips. I buy travel cards ahead of time that makes it easier to plan a trip. More of everything is kind of our mantra!
What are your favorite brands or categories that you use Raise to save on?
Walmart, Home Depot, Toys “R” Us, Verizon, Bed, Bath & Beyond, Delta, Perry Ellis, Southwest, QuikTrip. I also have about 10 restaurants we buy a lot from as well. I almost never buy anything that I don’t keep on my “favorites” section of the app. I just scan the list and know what is a deal based on the percent savings.
How many times a day do you check Raise per day or week?
Every hour or whenever I think about it. Usually within 5 minutes of waking up and same right before I fall asleep. I’ve gotta catch that late night and early morning inventory!
What tips and tricks would you offer others who want to reach David-level savings?
Be strategic. I work in financial services so I see the Raise market like the stock market. The discounts are constantly in flux so you need to know when to buy ahead of time and when to hold off for a better deal. Analyze your spending and make sure you are always using Raise, coupled with a good credit card that gives you at least 2% back in miles or cash or perks. Find ways to direct your spending to restaurants/retailers that have gift cards on Raise. For example, we now shop at Walmart for groceries because there are always plenty of Walmart cards available. Make it a game and reach for your phone before you reach for your wallet!
