Tuesday, November 18, 2014

My Children's Place Purchase

Disclaimer: I receive a referral commission for the following link(s) and I greatly appreciate supporting the site: Discover it, Be Frugal

My wife and I recently bought a coat for my son and I thought the process might be helpful for others.  If you follow regularly, you won't notice anything much out of the ordinary, but it can be nice to see how it comes together for an everyday purchase.

If you have any tips for me or if you like or dislike this type of post, please comment below!

It usually works like this in my house.  My wife picks out something she wants for herself or one of my son's, sends me a link and then it becomes my job to figure out the best way to buy it.

My wife chose this coat for my son from The Children's Place.

When I bought it, the full price was $52.46.  I could be a sucka and pay $52.46 or I can figure out a way to pay less.

To be fair, I had a $5 Loyalty Coupon, which you can only get from previous purchases so let's assume the price is $5 less or $47.46.

The Discounts

Here is what I look for, in order.

  • I want to figure out the final price after shipping and taxes.  I will usually buy a discounted gift card and I don't want any balance left over so I want a gift card that has slightly less than the final price.  In this case, I wasn't able to find one, but I got one for slightly more than the price of the coat and I will keep the balance for a later purchase.

  • Promo code: ~$9.50
    • I just Google something like "Children's Place promo code" and see what comes up.
      • In this scenario, I found a promo code that took 20% off.  So the price dropped from $47.46 to $37.97, a savings of around 9.50.

  • Buying a Discounted Gift Card - ~$5.70
    • I check Gift Card Granny for the best prices on gift cards.  Gift Cards are currently only available in higher denominations ($85 or above), but they are 15% off, the same as when I bought my gift card.  15% off $37.97 is $5.69

  • Using a Shopping Portal - ~$3.00-$3.80
    • I check Cashback Monitor to see which shopping portal gives the greatest percentage back.  Right now, the highest cashback is 10% from Shop Discover (requires a Discover Credit Card).  If you don't have a Discover card and aren't planning on getting one, Be Frugal is awarding 8% cashback.  
      • This cashback will be 8-10% off the final purchase price ($37.97).  Shop Discover and Be Frugal don't care that you paid less than face value for the gift cards.  

  • Using the Correct Credit Card - $1.90
    • This actually applies for when you are buying the gift card, but I'll mention it now.  Until the end of the year, Discover It is offering 5% cashback on any online shopping.  5% of $37.97 is $1.90.

  • My Place Rewards - 2.5% or $0.95 towards the next purchase
    • The Children's Place will give you 5 points for every $1 you spend.  1,000 points can be redeemed for a $5 loyalty card.  This is effectively 2.5% towards your next purchase.

The Final Tally

  • Original price = $47.46

  • Discounts - $9.49 + $5.69 + 3.80 + $1.90 = $20.88 + $0.95 towards the next purchase
    • $9.49 coupon code
    • $5.69 discounted gift card
    • $3.80 Shopping Portal
    • $1.90 Credit Card
    • $0.95 towards your next purchase

  • Final Price - $26.58 or 56% off + $0.95 towards my next purchase at The Children's Place.  Not too Shabby!