Monday, 15 July 2013

Mars or Venus – who is the better saver?

It’s a question that comes up all the time: who is better at saving - men or women? The answer depends on the opportunities to save. The recent AIR MILES Cash Financial Success Poll finds women are more likely to take advantage of several opportunities to save including making a grocery list before they go shopping, using loyalty program points to ‘pay’ for purchases and using coupons to shave dollars off their bill. But one thing is clear, both men and women can improve their saving habits.

Everyone wants to save
Men and women both agree that they want to save more in places they shop most. The poll found saving money at the grocery store is the priority for 41 per cent of Canadians. With 84 per cent of Canadians making grocery purchases every week, overspending can really add up.

Start with your car
When it comes to driving, 50 per cent of Canadians say they buy gas at least once a week and one-fifth of Canadians say saving money at the gas station is their main priority.  Look for ways to save money right at the pump to lessen the pain of weekly gas purchases.

Take advantage of loyalty programs
More than 10 million Canadians carry an AIR MILES card and that means that almost one-third of the population can start saving on their everyday purchases.  With the AIR MILES Cash program feature, Collectors can visit to set a preference between their existing ‘Dream’ balance and their ‘Cash’ balance, depending on how they want to use their miles. They can then shop as usual at more than 220 online and retail partners, with thousands of locations across Canada, to earn reward miles and build their balances. For every 95 miles in their Cash balance, Collectors can instantly redeem $10 at check-out at partner stores, which is instant savings that stays in your pocket.
Men and women can both be better savers by concentrating on what they already have.  Missing opportunities to save is missing opportunities to spend money where you really want to. Some good news? Men and women both get wiser with age: 55 per cent of 18 -34 year-olds admit to buying on impulse while only 26 per cent of 55 and older agree to the same. Impulse shopping, in my opinion, wastes the most money, because you don’t comparison shop, you don’t use coupons and you are likely to buy what you don’t need. Both men and women can benefit by resisting the urge to splurge when it happens. 

Learn more about AIRMILES Cash here 

*I was compensated by AIRMILES for this blog post

No comments:

Post a Comment