• Home
  • GET THE BOOK
  • Start Here
  • Blog
  • Free Resources
  • Shop TBM
  • Courses

The Budget Mom

Real Women. Real Life. Real Finance

  • Home
  • Products
    • Live Rich Planner
    • Budget By Paycheck
  • Blog
  • FREE RESOURCES
  • COURSES
  • GET THE BOOK
  • Shop TBM

A life you love on a budget you can afford.

Here on TBM®, I provide you with simple, easy-to-follow solutions to help you budget your money, pay off debt, save more, and crush your financial goals. But more than that, I give you the tools to start doing the things that matter most to you, on a budget that actually works!

How Price Matching Can Help You Achieve Your Savings Goals

January 7, 2021
Cut Expenses

Share
Pin30
Share
Tweet
Email
30 Shares

You don’t need a coupon or a limited time offer to get the best price possible. Thanks to price matching, you can get the best price wherever you shop.

 

You don’t necessarily need a coupon or a limited time offer to get the best price possible. Thanks to price matching, you have the opportunity to get the best price regardless of where you shop.

Two separate studies (Oberlo and KPMG International) suggest that 65% of shoppers have used their smartphone to check for price comparisons while physically shopping in a store. Another study by Market Track estimates that as many as 80% of shoppers make online price comparisons before making a purchase in a brick and mortar store.

But here’s the catch: most consumers only research costs for high-ticket items.

The more expensive the product, the more likely consumers were to search for better offers elsewhere. Specifically, consumers are more likely to take their time researching a major purchase such as a laptop, tablet, phone, appliance, or car.

This is certainly a great habit, but price matching isn’t exclusive to expensive items only. Savvy shoppers frequently utilize price matching to get the best deal, make shopping more convenient, and boost their savings.

Featured Post

How I Save Money Every Month Buying Generic Brands

Read Post

So What Exactly Is Price Matching?

Price matching is when a store matches a competitor’s lower price on the exact same item. Different retailers use different terms for “price matching.” For example, “low-price guarantee” and “lowest price guarantee” are common price matching terms.

Major retailers that price match includes, but are not limited to:

  • Walmart
  • Best Buy
  • Bed Bath & Beyond
  • The Home Depot
  • Kohl’s
  • Petco
  • Target
  • Lowes

Each retailer has its own rules for price matching, so you’ll want to check their websites for the latest updates. The terms and conditions can vary wildly. For example, Bed Bath & Beyond will price match any retailer that sells the same exact product at a lower price. Compare that to Walmart, which only price matches select online retailers, including Amazon, Walgreens, and DollarGeneral. 

Another policy to watch for is “price adjustment,” which is a retailer’s way of price matching itself. If a retailer drops its price on an item after you’ve purchased it, there is a short window of time in which the retailer will refund you the difference. For example, if you purchase a tablet at full price and then notice that the same retailer announces a 10% sale the very next day, you can get a 10% refund if they have a price adjustment policy.

Here’s another bit of good news: local businesses may be open to price matching as well. It doesn’t hurt to ask the manager if they have a price matching policy in place. Of course, it is much harder for small businesses to price match compared to national retailers, so please remember to be understanding if they don’t!

How Do I Price Match?

Each retailer will have a different process for price matching. Because these policies are always changing, be sure to check the retailer’s website for the latest terms.

If you shop at the same store regularly (like Target or Walmart), the process of price matching will become second nature. Soon, you won’t be able to shop at your favorite store without seeing if you can score a better deal. Think of it as a fun game — one where you can “earn” money in the form of savings!

Featured Post

8 Cashback and Rewards Apps That I Use to Save Money

Read Post

Below is a brief overview of price matching policies and procedures at some of the nation’s largest retailers:

  1. Walmart. Walmart is committed to giving customers the best price possible, which is why they have a price match policy on identical items sold by select online retailers. If you find the same item available on Amazon, BestBuy, or Target at a cheaper price, Walmart will match it! However, you can only price match one item per day, and the item must be in-stock at both the competitor and Walmart.com at the time of your purchase. The process of requesting a price match must be done online at Walmart.com Customer Care. The retailer discontinued its in-store price matching program (“Savings Catcher”) in May of 2019.
    Pro tip: Some customers shop online to take advantage of price match, then select the option to pick-up their purchase at their local Walmart.
  2. Target. Target is unique in that they price match their competitors’ print ads. If you get coupons in the mail or see an ad in the local newspaper or magazine (yes, they still exist!), bring it in, and Target will price match the item. The policy requires that the entire ad is brought in, so don’t just clip a portion of the ad to show the clerk. If there is a digital version of the ad (a promotional email, for instance), Target will honor that, too.
    Price matching at Target can be done at any checkout lane, including the self-checkout aisle, so you don’t need to worry about going to the Customer Service kiosk. To price match when making an online purchase, you will need to call Target.com Customer Services.
  3. Home Depot. Home Depot has one of the best price matching policies out there. They will match any online or brick-and-mortar price on identical, in-stock items. When it comes to online shopping, Home Depot even price matches the cost of shipping, ensuring that the total purchase price is equal to any competitor.
    Pro tip: Home Depot no longer has a guarantee to beat competitor prices by 10%. A previous policy meant the store would price match any competitor and then give you a 10% discount on top of that. Despite what some articles say, this is no longer the case. Home Depot also does not price match the cost of any labor services such as installation services. Despite these caveats, the Home Depot price matching policy is one of the best of the major retailers.

Price matching is a win-win situation. As a consumer, you have total control because you are able to get the best price possible for a product. On the other hand, stores also benefit because they still get your business rather than having you run to a competitor for the same item.

Idea: Use Price Matching to Boost Your Savings

Yes, you will save a lot of money by using price matching whenever you can!

But why not put that money to work for you?

Featured Post

Tired of Your Normal Savings Account? Try These Instead.

Read Post

Here’s an idea: the next time you price match an item, why not put the difference in your savings account? For example, if you save $10 through price matching, then consider putting an extra $10 into your savings! It doesn’t have to be your emergency savings account either — a 401K, IRA, HSA, or kids’ college savings account all work just as well. The goal is to find extra areas in your life where you can put just a little bit more away for your future and your family’s future.

It doesn’t have to be anything massive. Small but regular deposits can make a major difference!

Personally, I like putting my savings into CIT Bank’s Savings Builder, which offers up to 0.45% APY. This is much more than the national average interest rate for savings accounts, which is just 0.05% APY. For high balance savers, a $25K balance is required to earn the highest interest rate. If you don’t already have $25K in savings, no worries! CIT Bank still offers the highest interest rate to consistent savers. A minimum of $100 deposited each month will guarantee you the excellent 0.45% APY.

If you price match regularly and put those savings into a savings account, I bet you’ll be able to reach that minimum threshold. Give it a try!

Share
Pin30
Share
Tweet
Email
30 Shares

Filed Under: Tagged With: PRICE MATCH, PRICE MATCHING, SAVE MORE, SAVING TIPS

Previous article:
« How to Improve Your Financial Mindset to Achieve Your New Year’s Goals
Next article:
Need Cash Fast? 20 Things In Your Home You Can Sell Right Now »

Hello, I'm Kumiko, but everyone just calls me Miko. Welcome to my blog, The Budget Mom. I am an Accredited Financial Counselor® , and mom to a rambunctious boy. Come along with me as I strive to live a life I love on a budget that I can afford. Read more about me.

RECENT YOUTUBE VIDEO

The Budget Mom

The Budget Mom
It’s time for another Real Life Budget. I asked my readers to submit their REAL information. Real spending, real debt, and real savings goals.

I am taking those real-life numbers and showing you how I would organize and budget that information using my Budget By Paycheck® Method.

If you would like to submit your budget information to possibly be picked for a Real Life Budget that we will show on YouTube, please reach out to budgets@thebudgetmom.com.

Diane is a single mom who is a Database Administrator for an IT Department at a local college. She lives in Queens, NY, and eventually wants to move to a lower-cost of living area in the future. 

Diane submitted her information because she is struggling to organize and tackle all of her larger short-term goals.

CHAPTERS:
00:00 Introduction
02:15 Why & Personal Story
04:20 Income 
04:37 Fixed Expenses
05:48 Variable Expenses
06:31 Debt
07:53 Savings Goals
10:18 Budget By Paycheck Method
14:51 My Recommendations

➡️ HOW I TRACK MY SPENDING: https://bit.ly/3aIe89I
➡️ HOW TO USE A BUDGET CALENDAR: https://bit.ly/2IzF2Vj
➡️ FINDING YOUR WHY: https://bit.ly/3aJUryj
➡️ THE BUDGET MOM'S FINANCIAL FREEDOM STEPS: https://bit.ly/3cfJXsp
➡️ HOW TO GET STARTED WITH THE CASH ENVELOPE METHOD: https://bit.ly/2vQJaO5
➡️ HOW TO CREATE A PLAN OF ATTACK TO PAY OFF DEBT: https://bit.ly/2wDETxF

ABOUT ME

Kumiko Love is a single mom who empowers women everywhere to regain control of their financial lives. An Accredited Financial Counselor with over nine years of experience in the finance industry, she founded The Budget Mom, a community of millions of women on a path to financial fulfillment.

She's also the creator of the wildly popular Live Rich Planner® and Budget by Paycheck® Workbook. Love has been featured on Good Morning America, the Today show, CNN, CBS, ABC and in USA Today, US News, World Report, Huffington Post, Money Magazine, Parents Magazine, the Washington Post, and Real Simple. She lives in Spokane Valley, Washington.

YOU CAN FIND ME AT:

📝 WEBSITE: https://www.thebudgetmom.com
📘 FACEBOOK: https://www.facebook.com/thebudgetmom/
📸 INSTAGRAM: https://www.instagram.com/thebudgetmom/
📌 PINTEREST: https://www.pinterest.com/thebudgetmom/

GET STARTED

➡️Start Here: https://www.thebudgetmom.com/start-here/
➡️Courses: https://courses.thebudgetmom.com/
➡️Free Resources: https://bit.ly/2PDmTHz
➡️GET 10% OFF my popular Budget-by-Paycheck Workbook - Coupon Code TBMYOUTUBE https://bit.ly/3FEdZFp

Soundstripe License Code: LBWMAQPEPWYVFKT3
Load More... Subscribe
Free Resource Library

Recent Posts

  • To Pay Off Debt or Not to Pay Off Debt: The Pros and Cons of Using Home Equity
  • The Secret to Personal Finance I Never Learned About in Business School
  • Don’t Overpay for TV and Internet: How to Shop Around for the Best Deals
  • 4 Simple Tricks to Stick to Your Grocery Budget
  • Celebrate Without Breaking the Bank: How to Save for Special Events

Blog Categories

Amazon Associates Disclosure

The Budget Mom, LLC is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.

  • Cart
  • Shop Policies

Start With My Friday Newsletter

Every Friday I send you a short helpful email with my popular Friday freebie. Join my 500k+ subscribers!

About

  • Home
  • ABOUT TBM
  • Contact
  • Start Here

Important

  • DISCLAIMER
  • PRIVACY POLICY
  • Subscribe

Favorites

  • YouTube
  • Blog
  • Live Rich Planner
  • Budget by Paycheck

Start With My Friday Newsletter

Copyright ©2023, The Budget Mom®
This website contains affiliate links, which means that if you click on a product link, I may receive a commission. This website is a participant in the amazon services llc associates program, an affiliate advertising program where I earn advertising fees by linking to amazon.com.
  • How financially fulfilled are you? Take this 2 minute quiz to get your score!
    Click Here to Start