If you are a member of a warehouse club, you know the major benefits of its membership and the savings you can receive by shopping in bulk. But did you also know you can save more, and get additional cash back by implementing a cash back stacking strategy? Well here's my favorite cash back stacking strategy for Sam's Club. Now this is a 5 level Cash Back Stacking Strategy with the potential to save more with coupons as well! With every cash back strategy it begins with a Cash Back Credit Card!
Level 1 - Credit Card
For Level One...The Cash Back Credit Card I typically use at Sam's Club, is my Citi Double Cash Card. With the Citi Double Cash card I receive 2% Cash Back no matter where I shop, and at all times! There are no special categories or times of the year you need to use the card in order to get 2% cash back. You get an automatic 1% cash back when you purchase, then an additional 1% cash back when you payoff your credit card bill, essentially giving 2% cash back! The other card that I use, which I am only able to maximize 3 months out of the year is the Discover IT credit card. With this card I receive 5% cash back when shopping at any Club/Warehouse stores that accept Discover. Unlike Costco which now only accepts VISA cards, Sam's club accepts Discover/VISA/Mastercard and I believe AMEX as well. So 3 month's out of the year with the Discover IT card, and also the Chase Freedom card has a similar quarterly option, you can receive 5% cash back at Sam's Club!
Level 2 - Dosh App
For level 2 I receive cash back using the Dosh App. With the Dosh App I receive 5% cash back instantly whenever I shop in-store at Sam's Club! All you have to do is link the credit card, or multiple cards that you use, and whenever you swipe your card at a merchant connected with the Dosh App you will receive Cash Back automatically! As far as I can tell, this works with all Sam's clubs, or at least all Sam's clubs in my area participate. Be sure to check within the offers section of the Dosh app and search your zip code to see what stores are available, and where the nearest Sam's club that offers cash back is for you. In addition to in-store cash back, you can receive 3% cash back if you shop online at Sams club, but you have to start your purchase from the Dosh App first in order to receive credit for online Sams club purchases. If you don't already have a Sam's club card, if you already have a card linked to Sam's club and you use it to pay for a new membership when you sign up for Sam's club, you will receive bonus cash back! At the time I paid for my Sams club membership I received $10 cash back from Dosh! Be sure to check the app for their current bonus offer for getting a Sam's club membership, which may be in addition to any bonus offer that Sam's club is offering directly.
Level 3 - Bits of Stock App
The 3rd level of cash back is with the Bits of Stock App! With Bits of Stock you receive .50% cash back which is then used to purchase shares of stock! Since Sam's club is owned by Walmart, you receive Walmart ($WMT) stock as your reward! Although the amount of cash back received is small, if you happen to shop at Sam's club on a regular basis for groceries in addition to almost any home items you may need, and their gas station as well, this can really add up over the long term. And because you are receiving the cash back as bits of Walmart stock, the value of those fractional shares will increase in value as the value of Walmart stock increases. So the true value of that .50% cash back is also the increase of Walmart's stock value over time! Over the past couple of months, even while the rest of the stock market is down substantially, Walmart stock actually increased in value. Sam's Club and Walmart received more business during the coronavirus pandemic due to many restaurants and other non-essential stores being closed. People rushed to stock up on toilet paper, food, and other essentials causing a shortage with certain items, and that shortage caused other shoppers to panic and want to go shopping as well. Over the course of a normal year, if you Sam's club is your main store for buying groceries, medicine, or even electronics, then you may end up spending thousands of dollars per year at Sam's club. For every $1000 you spend at Sam's club, that's $5 worth of stock of Walmart stock you will gain!
Level 4 - Bumped App
For the 4th level, you have another opportunity to receive $5 worth of stock for every $1000 you spend at Sam's club, and that's with the Bumped App. The Bumped app is another Stock Back app which provides .50% cash back which is used to purchase fractional shares of stock! However instead of receiving Walmart stock, you receive fractional shares of the Vanguard Total Stock Market Index Fund, ticker symbol VTI. VTI is one of my favorite total stock market ETFs, in fact it is one of the 4 ETFs I invest in via the Mobile Money Nation Roth IRA. Each month I deposit $100 into my M1 Finance pie, and 40% of that goes into the VTI ETF. Follow me on Instagram if you would like to keep up with the progress of that Roth IRA, and use the referral link below to start your own Roth IRA with M1 Finance!
Level 5 - iBotta App
Now for the 5th level of this cash back stacking strategy, this will take a little more planning and effort. With the first 4 levels everything was automatic. All you had to do was link your Credit Card to the 3 apps in levels 2, 3, and 4, and make sure you use that same credit card when you shop at Sam's Club. But with the iBotta app you will need to select specific items within the app that you will receive cash back for. Now this can be a good or bad thing when you think about it. The good thing is that when you do go shopping at Sam's club, you're a bit more strategic with your purchases in order to ensure you are getting additional Cash Back from iBotta, but you have to remember to select those offers before you actually go shopping. Also, maybe the offers available in the app are not products that you purchase on a regular basis if at all. For instance, I don't buy soda in bulk for personal usage, but there's always an offer for soda and other boxed items or typical foods in an American diet like hot dogs, pizza, beer, etc...And then take into account that you are buying in bulk at Sam's club, so you don't want to buy items that you aren't going to be able to fully consume before they expire. So if you're single, you may not buy a case of blueberries or a 36 pack of eggs, but for a larger family this may not be a problem.
Use the 5 options above to gain cash back on all of your purchases at Sam's Club, and this could add up to a nice chunk of change over the course of a year. This could be used to pay for groceries in the future, payoff debt, or to add more money to your investments.
If you use a platform like M1 Finance which offers free trading and the option to invest tin fractional shares, every time you get at least $10 total cash back you can add this money to your Investment Pie within M1 Finance. Use my referral link below to open your own M1 Finance Account and start investing today! I will also have links to the other apps I mentioned in this video for cash back, so check those out in the description.
What is your favorite Cash Back Stacking Strategy? Be sure to leave a comment below with your favorites, and any apps that you know or think will stack along with these.
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Due to all of the talk around gas prices at the moment, I started to think about all of the ways I am maximizing the cash back or discounts I can potentially earn whenever I purchase gas. So I wanted to share those with you!
Gas prices are currently at or near decade lows depending on what area of the country you live in. Due to a gas price war between Saudi Arabia and Russia, an over supply of gasoline is being created. Combine that with the fact that people around the world are social distancing, working from home, or not working at all due to the Coronavirus, this is making the issue worse as there's a lot less demand on the purchase of gas due to less driving.
This is why I wanted to talk about my favorite combinations of how I am able to get a discount or increase cash back at the pump, by stacking cash back.
There are a few cash back strategies I use when getting gas. The largest cash back stacking strategy combination when it comes to gas, involves a credit card and three apps. The first level of every cash back strategy you can use should first start with a cash back credit card, and the credit card I use to maximize cash back at the pump is the Costco Credit Card. With Costco I receive 4% Cash Back whenever and wherever I buy gas, not just at Costco!
Level 2 - GetUpside App
The 2nd level is the GetUpside Cashback App. With GetUpside, there are several gas stations including Shell, Exxon Mobile and others which work with GetUpside to provide you with cash back whenever you buy gas. If you're not familiar with GetUpside, I have a video detailing how the app works, but essentially you open the app and use the map to locate your nearest gas stations. Once you've found one near you that offers cash back, you can then select it, and you have a 4 hour window to buy gas and then upload your receipt into the GetUpside App. Now the amount of cashback you can receive will vary each time you check the app, even if you're going to the same gas station. So be sure to check for other gas stations in your area to ensure you are getting the maximum cash back, while also considering the cost per gallon and the station you choose. Getting more cash back is a bad reason to pay more for gas, so ensure that you are getting the best overall value with the lowest total spent on your gas! As an example, at the time of this recording, the Shell gas station nearest me is providing 21cents cash back per gallon, and I also have a bonus .15cents per gallon cash back I received for inviting another user to GetUpside, which brings the price per gallon down to $1.49 theoretically. However the actual price per gallon I pay at the pump is $1.85 per gallon, and I'll receive a total credit of 36cents per gallon in the GetUpside app the next time I pump gas. This would be a total of $5-$6 cash back, as it usually takes 15-17 gallons to fill my tank. Now not including my bonus 15cents per gallon, the 21cents I am seeing in the app at the time of recording is on the high end of what I normally see. This could be as low as 1cent, or as high as 25cents which I've seen in the past even without an invite bonus. If I were to use an average of 15cents cash back per gallon, with gas at $2 per gallon, that would equal out to 7.5% cash back using GetUpside! However with currently low gas prices, and an extra bonus from inviting another user, my cash back percentage is actually higher today at 19.5% per gallon!
Level 3 - Bits of Stock App
In order to go to the 3rd and 4th level, it does take some coordination and decision making on the brand of gas you will consistently shop with. On the first level it didn't matter, because you're getting 4% at any gas station. On the 2nd level there are several gas stations to choose from, but not all gas stations, even from the same company, will give you cash back. And the amount of cash back will vary on a day to day basis. So once you've used the GetUpside app on a regular basis you may find a gas station which is consistently giving a good cash back to price per gallon ratio for you, and you now need to align it to the next app which is the Bits of Stock App! With Bits of Stock, you receive cash back at certain gas stations which are available in the app, and that cash back is used to purchase fractional shares of stock. For me the two gas stations which work out the best for me, as far as aligning with the GetUpside app, are Shell and Exxon Mobile. Every time I buy gas from either Shell or Exxon, I receive .50% cash back on all of my purchases, as long as the credit card I use is linked to their app. In this case, my Costco Credit Card! This is done automatically, and there's no need to upload a receipt or complete the transaction within a certain time period. Just swipe and receive the credit within a few days in the app. This cash back then turns into Shell or Exxon Mobile stock. Now the amount of cash back is very minimal in the grand scheme of things at only half a percent, but this will add up over time. Not only that, but since you receive it back in stock, those bits of stock (pun intended) turn into larger and larger shares. Unless you have an electric vehicle, or don't drive, you will need to buy gas eventually. So why not maximize on your purchases and receive free stock in the process as well!
Level 4 - The Bumped App
The 4th level follows the same premise, and that is with the Bumped app. But there is a slight difference on how they work. With the Bumped app you can only choose one gas station and there are only 4 options to choose from, so this is really getting you into brand loyalty territory. With this app I ended up sticking with Shell, since Shell has the best cashback/price per gallon ratio in my area. In fact, where I live there is not an Exxon Mobile gas station nearby that provides cash back at all via GetUpside. I tend to run into more eligible Exxon Mobile's when I travel away from home. The other 2 options within the Bumped app are BP and Chevron. No matter which of the 4 options you choose, you will receive .50% cash back which is also used to purchase fractional shares of stock! With all 3 of the 4 companies you have the option to choose either the VTI ETF as your stock, or the actual company stock of ExxonMobil/Chevron or BP. Shell only has the option to receive fractional shares of VTI, which is my preference anyway. So I receive half a percent of my gas purchase which is used to purchase the VTI ETF whenever I buy gas.
So in Total, my favorite cash back stack receives 4% from Costco Credit card + an average of 7.5% from the GetUpside App + half % from Bits of Stock + another half % from the Bumped App, bringing my average cash back at the pump to a total of 12.5% cash back! With the average person using over 600 gallons of gas per year, and using an average price per gallon of $2, that's about $150 worth of cash back every year! If gas cost more in your area, then your cash back amount would be higher as well.
Alternate 2 Level Stack
However this cash back combination isn't always the best value. Remember, the actual price per gallon of gas also matters. Like I mentioned, my average cash back from the GetUpside app is 7.5%. So if I can buy gas at another gas station, which has a higher percentage savings vs the percent of cash back per gallon using get-upside, then that is the better value.
This takes me to my most often used stack, which is simply Costco!
Costco gas in my area is typically 15 to 20 cents lower than all of the surrounding gas stations. So if gas is $2 at Shell, in many cases gas at Costco will be in the $1.85 to $1.80 range. That's 7.5% to 10% cheaper on a pretty consistent basis. If my cash back from GetUpside isn't more, then here's my 2 level stack! 4% Cash back with the Costco Credit Card, and then .50% cash back with the Bits of Stock App! Yes, Costco is also available in the Bits of Stock app, and you get cash back with their gas station or whenever you shop inside of Costco. This makes my Cash Back stack at a minimum, 4.5% when I buy gas using my Costco Card at Costco Gas Stations.
Now if you happen to have a credit card which provides a higher cash back amount than the Costco Credit card, then certainly use that card. The Sam's Club credit card offers 5% cash back year round, and the Chase Freedom and Discover IT 5% Cash back for 1 quarter out of the year. So definitely use the credit card which provides the most cash back on a consistent basis for you.
If you are not familiar with any of the apps mentioned above, or don't currently use them, be sure to use my referral links in the description and comment section below. With GetUpside you will receive a bonus 15cents per gallon on your first gas purchases when using the app. And there's also an automated feature to receive cash back without uploading a receipt, just look for the gas stations with a Blue Lightning Bolt next to their location. What credit cards and cash back apps do you use to maximize your cash back? Think you have a better Cash Back Stack? Let us know in the comment section below!
I just signed up for my first Travel Rewards Credit Card, so I wanted to talk about how I planned out making the minimum spend for the signup bonus, while also planning out my Travel for the rest of the year. Travel Rewards Credit Cards award you points toward travel with every purchase that you make. If you travel a lot, using a travel rewards credit card can actually help you towards gaining free travel. Especially when you take advantage of the initial bonus offer when you sign up.
One of the most popular travel rewards credit cards is the Chase Sapphire Preferred. This card has a $95 Annual fee, however with the Bonus points and the rewards you gain from your regular purchases, it can be well worth it. But before I even get into the bonus points, what does this $95 annual fee card give you that your typical no fee credit card may not give you.
What would you do if you had extra cash trickling in every month, or every quarter? You could buy more stuff! Give gifts to your family and friends! Let your kids spend it! Put it into a high yield savings account! Invest it! Or...use it to pay off DEBT! If all of these options are possibilities for you, then paying off debt is your top priority. Did you know that Debt is just Investing backwards? The same way investing helps your money to grow by using compound interest, compound interest also helps your debt grow...just not in the direction you would like! Think of it as Negative Compound Interest. This interest is also a stronger force than the S&P 500 or Total Stock Market. Over the past 50 or so years, the Total Stock Market and S&P 500 have averaged around an 8% to 10% gain per year. Credit Card Debt however, currently has an average interest rate of over 17%. If you have debt with interest rates that are higher than the average gains in the stock market, then you need to focus on paying off these debts. This doesn't mean you can't use credit cards or invest, however! Good news!
A great way to start earning extra cash without working a side hustle, getting a raise, or changing jobs, is to earn Cash Back on your everyday purchases. The BEST way to use Cash Back is to pay off debt, which I would highly recommend if you have high interest Credit Card Debt or Student Loan Debt. When you use it to pay back debts, it is just like getting an immediate return on your "investment". Especially with credit cards, considering the average interest rate on a credit card is around 17% . The stock market over its history has averaged about 8 to 10%, so if you do have Credit Card debt, it doesn't mean you have to completely stop using them. Here's what I mean...
Credit Cards Are A Strong Foundation
When thinking of getting started with investing in the stock market, there is a lot of initial fear for some.
Stock Back Rewards?
Top 7 Cash Back Apps You Should Install Now! The Best Cash Back Rewards and Stock Back Rewards. Rewards Stacking 101
Before you swipe your card again, read this post! Better yet, before you spend any money, read this blog post. Sooner or later we all have to spend money somewhere. Whether it is to buy groceries, pay our phone bill's, light bill, furniture, gas for our car, maintenance of our car, eating out, new mobile phones and laptops etc... Almost every day we are spending money either in-store, through an app on our smartphone, or on a computer via a web browser like Chrome, Safari, FireFox, or Internet Explorer. Well why not get rewarded and get paid to spend money! If you're really pressed for time, here's my Top 7 of the Best Cash Back Apps. Use my referral links to receive a bonus for signing up. Otherwise keep reading for more details.
The Best Cash Back Apps
Rankings updated 12/24
7) Drop App: Code bjse9 Get $5 Sign Up Bonus
6) GetUpside App: Code FAB72 Get 15 Cents per Gallon Sign Up Bonus
5) Dosh App: Code AJM62 Get $1 Sign Up Bonus
4) Ebates App: Code AJMOB14 Get $10 Sign Up Bonus
3) Pei App: Code 4ozbzr Get $2.50 Sign Up Bonus
2) Bumped App (Waitlist)
1) Bits of Stock App (Waitlist)
AJ Mobile Money
Husband | Father | YouTuber | Former ATLien
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