Many of us can likely relate to feeling a constant sense of urgency in our daily lives. We wake up checking our phones without thinking twice, fall asleep to notifications that someone needs something from us, and exist in a world where everything needs to happen “right now!”.
This pressure of immediacy carries over into our spending habits. It’s easier than ever to buy with one click, or finance our purchases through credit for an item that will arrive at our doorstep the next day.
Because it’s so easy to buy, we’ve forgotten about the lost art of saving and how it can positively impact our financial health. It’s not about saving up and telling ourselves we shouldn’t buy the things we want, but instead about finding a balance. When we integrate savings-based purchases into our spending mix, we create good habits for ourselves in the same way we aim for good habits that support our physical and mental health.
The good news is that with Accrue Savings, you can now get cash rewards from your favorite brands when you practice good saving. Below are three practical and common reasons where it may make sense to save up now, and buy later.
1. When you’re timing a purchase around a major planned life event
Let’s say you know that you’ll be moving into a new apartment in 6 months and you’re still using the mattress you had in college. With the benefit of looking ahead, you can start planning to buy a new mattress by setting an automated savings plan that will deposit a portion of the purchase into an account every few weeks.
For example, when you shop with Casper using Accrue Savings, you can choose a plan that helps you stay on-track and earn rewards for each milestone you reach. This is the benefit of planning ahead and committing to a plan.
2. You don’t need it tomorrow, or it’s not available today
With the world we live in, we may think we need a new pair of shoes, jacket, or necklace tomorrow. But we don’t. More often than not, we can wait. As you’re thinking about buying something, ask yourself if it would make a big difference if you had to wait two to three months for it to arrive. If you know it can wait, think about saving up to buy instead.
Similarly, sometimes the things we want aren’t available because they are out of stock. This is another opportunity to set aside money for the purchase until it becomes available again. And, with Accrue Savings, you’ll earn cash rewards for your patience.
3. You may miss a financing or credit card payment
When using a credit-based payment option, it’s important to consider the possibility that you may not be able to pay back the purchase loan or full balance on your credit card without incurring interest or late fees. Before making a purchase, be sure you review your personal finances to confirm you will have the cash flow to settle your bills. If you may be at risk of missing a loan or credit card payment, it may be a chance to look at a savings-based option instead. With Accrue Savings, you’ll still have a clear path to purchase, but won’t have to fear debt or extra fees. In fact, your purchase will be easier as you earn cash rewards!
With Accrue Savings, consumers practice good saving habits and get rewarded for it when they buy. To try this one-of-a-kind shopping experience that can support your financial well-being, check out our active merchant partners and save up to buy.
If you have a savings story and want to share it with us, tag @accruesavings on social. We’d love to celebrate your savings journey.