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More Online Savings

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Between working 2 jobs, having a family, and basically another part-time job tending to my Dad’s matters, “spare time” has been basically non-existent lately. I feel like I’m lucky, too, because I have such a supportive spouse/partner. I seriously don’t know how single parents or parents with traveling spouses (or military/deployed spouses) do it! I seriously don’t. Props to any and all of you reading here!

Anyway, due to the extreme lack of time I’ve found myself turning more and more toward online shopping. I’ve already posted about my new favorite app where I’ve been scoring cute clothes for cheap (though, warning: it’s totally addictive! It’s been okay for now because I’d already intended/budgeted for buying some new clothes before Cruise 2016, but after the cruise I may need to delete the app for awhile! It’s just too easy to shop!).

Today I’ve got another favorite online tool that has been helping me save money:  Paribus (<refer-a-friend link. If you sign up from my link we both get an extra 5% savings).

If you’re unfamiliar, Paribus is a little widget thing you install on your computer. It tracks your internet shopping (by recording e-receipts you receive from merchants for online transactions) and if you happen to purchase something that goes on sale later, they will contact the company on your behalf in order to get you a refund of the overage.

Paribus doesn’t support all merchants world-wide (I believe they’re U.S.-only right now), but they do support several big ones. I’ve received refunds from Target and Amazon for purchases I’ve made for items that have later been reduced.

My favorite part is that, after the initial set-up, it requires absolutely nothing on my part. I literally forget it even exists until I get an email from them saying that I’m getting some money back! I experienced this recently when I bought a glass canister set from Target for $24.99 as a gift (Target is my favorite for gift purchases since shipping is free and I get 5% off using my Target card). The canister set went on sale and I ended up getting back $2.34 automatically to my Target card. They contact the retailer and get them to refund you the difference through whatever means you paid (it’s online shopping, so I’m assuming this is mostly debit or credit). Getting the email about it made me think that I needed to share it because it really does work!

So how does Paribus make money as a company? Simple. Paribus takes a 25% cut from whatever your savings are on any given item. So, yeah, they take it from the customer. If something were to go on sale at a store and you take it in directly, along with receipt, you could get the price adjusted and not have to essentially pay a “commission” to anyone. You’d get the full amount back. But, to me, a 25% commission is well worth it given that, otherwise, I would likely never take the item back to get a price adjustment done. I’m just speaking for myself. But I know I’m terrible with returns. I’m sure as heck not spending precious time scouring the internet for possible sales and then taking the item (along with receipt) to the store for a price adjustment. It just wouldn’t happen. First, I’d probably never even know about the sale. Second, I just simply lack the time over a couple bucks here and there. But if Paribus wants to come in and handle all the heavy lifting for me and just give me back 75% of the savings, then I’m happy with that! Feels like “free money” to me (I know it’s not really “free” but that’s how it feels).

There you’ve got it. I give Paribus 2 thumbs up. If you use it, tell me what you think! If you’re thinking about trying it, use my referral link so you and I each save an extra 5% on the “commission” fees (ps: “commission” is my term, not theres. They call it a “success” fee. 🙂 )

 


9 Comments

  • Reply CanadianKate |

    Have you set up a separate email and credit card for all online purchases?

    If not, they can now read every email you send/receive.

    Sure, the government can do that and the email provider and your ISP but to give that to yet another company seems imprudent.

    As well, they have access to your credit card information.

    Finally, they have access to all your online shopping records. That is worth a lot of money to them, much more than the 25% of the refunds. That’s where they will eventually make their money if the service gets critical mass.

    The general guideline is, if a product is free, YOU are the product. To Google, all my surfing etc is the product – they sell that information to advertisers who target me. Same with Facebook.

    You, and you alone, have to decide if the price they are paying you for your personal information is enough. You and you alone have to decide what risks are involved and if you are willing to pay the price of a data breach. Let’s use Ashley Madison as an example of what can happen.

    What is the worst that can happen? Every email you ever sent is posted on the web to be scoured over by others looking for something to use against you. Or, every one of credit cards that you use online is simultaneously compromised.

    • Reply Walnut |

      Replying specifically to: “they sell that information to advertisers who target me”

      Maybe this is the millennial in me speaking, but is more targeted advertising that bad? I certainly prefer targeted advertising to mass media advertising, since I could get value out of something targeted versus a prescription drug for a disease I don’t have.

      • Reply CanadianKate |

        It is easier to resist the drug you don’t need. If the advertising is targeted specifically to your tastes, it will be far more tempting to give in.

        That’s why, if I’m buying groceries it is cheaper for me to buy at my local food-only store than Costco or Walmart. Per unit, the price is way cheaper at Costco or Walmart, but the temptation to add extra items to my cart is less at the grocery store.

  • Reply CanadianKate |

    Another way to save is to simply buy less. Takes less time, saves way more money.

    Pay cash for what you buy IRL. Limit your online shopping to greatest amount possible.

    I find myself being super stingy, shopping the flyers and going to a price-matching grocery store. Then blowing $$$ on an Amazon or Costco order.

    Sure, when my sheets get threadbare, there’s an extra set in my linen closet. But they’ve been there for over a year now. Obviously, I didn’t need to buy them when I bought them, but I got it into my head I might need them, and online shopping is SOOOO easy. If I had to go to a cash machine to get the money, then drive to the store, I would never had bought those sheets until the day when I notice a hole in my existing sheets.

    You are going through a lot of stress right now. I find I use shopping therapy when I need to ‘be good to myself.’ Online shopping takes no energy at all so can be a huge trap. Be very careful you are not falling into that trap.

  • Reply Parul jain |

    See this review MMB posted some time ago. Some of the readers expressed the same concerns and suggested a work around.
    http://www.mymoneyblog.com/paribus-review-price-drop.html

    Personally, I am not very comfortable someone(even a webbot) snopping around on my online sufing and shopping.

  • Reply Kili |

    Those seem definitely like some points to think about that the other readers have brought up so far.
    I’m definitely also more protective of the infos I let companies collect.

  • Reply Amanda |

    Paribus is awesome!! I sing it’s praises to everyone. 🙂

    I’m not losing any sleep over the security. I like saving money and I’m sure they people at Paribus have way more interesting things to do than read my email.

  • Reply debtor |

    meh,

    it sure does seem like you are letting a company have A LOT of access to your funds. what’s their policy on data breaches? I feel like it seems helpful…but i kinda wish it was an app that was operated by the companies themselves

    • Reply CanadianKate |

      I might not object so much if you were to just forward your purchase emails to their app and they will notify you when there’s savings to be had for you to claim. That would give them only your purchasing info; complete email access (remember, they are sending emails from your account, impersonating you, in order to claim the refunds) and credit card info would not be taken if there is a data breach.

      Of course, you would then have to do the work of claiming the money.

So, what do you think ?