It’s not everyday reading the paper gets me excited but I sure did this past week. In fact my wife is proud of me and I’m pretty proud of myself for scoring this great deal. For some people money and debt go hand in hand so every time we can save a buck we jump at the chance.
I know you are thinking, big deal it’s only $146.90, what are you so excited about? That’s alot of money, that’s why, at least to us it is. Our grocery budget is $235 a month and that chunk of money although small could feed us well for a few weeks.
I’m not sure I’d be the only one giving $146.90 up if the offer was on the table. I’m also betting there will be those people who think I’m a cheapskate for doing what I did in order to get this money.
Do I care what people think of my money-saving ways? Not really, it’s our money for starters and the store puts the policy in place so consumers “do” take advantage of it.
This is one way retailers keep their prices competitive and keep their customers happy. I’d consider myself frugal rather than cheap as sometimes quality is more important than quantity or price to me.
Whoever is willing to give up $146.90 cash probably doesn’t even need the money or simply don’t give a toss.
I’ll admit I’m the last person who ever thought he could save money on every day items he’s bought if the item goes on sale with-in a specified time frame. It’s just not something I had ever heard of when I lived in the UK so it was new to me.
Then again, I’ve lived in Canada for almost 6 years now so retailers in the UK may have adopted this type of pricing policy since I’ve left. I’m not even sure if they have this type of policy set up in the USA, but it wouldn’t surprise me.
By now you either know how we saved the money by reading the paper or you are still scratching your head thinking I’m off my trolley. Let me explain.
In Canada, this is what they call a price adjustment or product price adjustment.
The Water Softener Saga
If you remember back in March our water softener had its last days living in the Canadian Budget Binder home and failed on us. It was crucial that we found a new one right away with the amount of hard water we have. We were on the hunt for a decent priced water softener that wouldn’t break the budget.
Ya, like that was going to happen. I searched high and low and did my research on the best water softeners available in our area. We ended up going with Sears Canada and paying $899.99 plus tax which cost us $1016.98 to fit a new water softener in our home.
Reading The Paper
The water has been great since and the machine is working like a charm. No more white spots and build up around our taps. There is no price adjustment strategy when it comes to getting some money back, all you need to do is take note of the prices.
I promised myself that I would keep tabs on this big-ticket expense just in case the price dropped as I only had 3 months of opportunity and praying that the price would drop.
The cashier did get us a bit excited saying that the system showed the lowest ticketed price at $699.99 which meant that it could drop that low at some point in time. She did tell us that some big sale events were due to be coming up and to keep an eye out.
I did watch for a few weeks checking the website every week just in case unadvertised sales popped up on-line or when the flyer came I would scan through it. As each week passed by I was getting discouraged thinking the water softener is never going to go on sale.
Sears told us we had 3 months from the date of purchase to bring in our receipt if we noticed the price had dropped at any Sears store. Sears calls this convenience the “price protection plus” which is essentially a price adjustment.
The great thing about Sears is you can either go in for the adjustment or call their support team and do it over the phone. Since you used your Sears credit card, once you verify the info and provide the URL website of the price you want an adjustment on they can refund your credit card over the phone.
So, you don’t even have to leave your home although we found that out too late but that’s Ok, now we know better for next time.
If you like to price match Sears will also price match an identical product up to 30 days of purchasing the item. These are major pluses when it comes to shopping for us and why we return to these stores.
With any purchase of Appliances, Sewing Machines, Vacuum Cleaners, Home Furnishings, Mattresses and Electronics* that is made with your Sears Financial Credit Card, we will match a Canadian retailer’s advertised price for 90 days. Purchases made with any other tender are covered for 30 days.
Not every shop has this policy or they may have a limited price adjustment time frame where they only allow you so long to reap the rewards of cash back. Sometimes what you have to watch out for are the 1 day sales or in this case the 3 day sale which only ran on Friday, Saturday and Sunday.
While reading the local weekend free newspaper last week which I don’t always do there was an article on the front cover that caught my eye. When I opened the newspaper I noticed the Sears flyer inside so I pulled it out and sat it on the coffee table while I finished reading the story that jumped out at me.
What also jumped out at me was the price of the water softener that was clearly on sale for LESS than what we bought it for. We literally had that weekend to get to Sears so they can take the price we paid minus the adjustment price and refund us the difference of $146.90.
How a product price adjustment works
Typically, If you find that a product your purchased goes on sale and you are in the time limit of the price adjustment policy of the store (check online or call and ask) bring in your receipt and ask for an adjustment with the new sale price. Over time we have learned the policies of the stores we go to but don’t be shy to ask. We’re always learning something new.
Here is how our water softener adjustment was calculated.
- Product Price $899.99 * 1.13
- Product Total with Tax $1016.98 (What we paid)
- Sale Price $769.99 * 1.13
- Sale Price with Tax $870.09
- Price Adjustment $1016.99-$870.09=$146.90 back in our pocket!
The problem with a product price adjustment for most people is that once they buy something they forget about it. The last thing that comes to mind when reading the paper is whether they purchased an item in previous weeks or months to get a rebate. They enter the expense in their budget spreadsheet and move on.
That got me thinking about all the missed opportunities we may be throwing out the window because we aren’t tracking these big-ticket expenses. Product price adjustments are probably one of the easiest ways of making money and some of us are letting the money pass us by.
For dollars and cents sake even the small expenses all add up if you can get reimbursed some cash for your purchase. It might not be the most practical way of saving money but it’s money back in your bank account and to us, that’s a win-win situation.
Product Price Adjustment Tracking List
I’m a lists guy if you haven’t figured that out by now and every time I create a list it ends up in my Free Money Saving Tools that you can download and use at home. I decided to create a list that we can mark in any big-ticket expenses or items that we had to pay full-price for along with the store name and the date.
Since we track our receipts in our budget we keep our receipts especially if it’s an item with a warranty. Lately we’ve hung on to our receipts for up to one year.
So next time you are out spending your hard-earned money on big-ticket items or even the small stuff take note at the store and ask if there is a price adjustment policy and read it.
When you get home mark it down on your tracking sheet and voilà, each week you read the flyers or shop online you will have all the info you need at your fingertips.
Reading the paper and weekly flyers might not be as popular as it once was but for us it saved us $146.90 in cash that we could have missed out on.
Would you have went back to Sears to get the adjustment or do you think we wasted our time?
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