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Could this app help you save money too?
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I am really hesitant to install apps or browser extensions on my computer — even money-saving apps. Since I write for a living and my laptop is my livelihood, I don’t want to take a chance on slowing my machine down or, worse, getting a virus or causing some other problems with the system that could affect my bank account by impairing my ability to work.
That’s why it took me a really long time to take action and install a tool called Honey. Although everything I read about it seemed great, I didn’t want to break my longstanding rule of not using browser extensions.
Finally, though, I recently decided to take a chance and just see how it worked for me. And I’m very glad I did, because it saved me $31 the very next day — and it’s continued to save me money ever since.
How does Honey work?
Honey is a really simple extension to use.
After I added it to my browser, it started providing me with information on the price history of items I was looking at online and showing me if there were other stores that had the item I was looking for at a cheaper price. This way, I was able to see if the website I was on had the product at the lowest cost or if I could save by buying elsewhere.
Not only does Honey advise you where to shop, but it also inputs coupon codes for you. When I was ready to check out for my online purchase, it auto-filled the promo code box with several possible discount codes to see which ones, if any, would apply to reduce my cost.
The extension also prompted me to sign up for cash back, which I could earn by shopping with participating merchants and redeem through PayPal. I didn’t have to do anything special to get this cash back, and it would be on top of the credit card rewards my card issuer pays me for using my card to make purchases.
How did the Honey app save me money immediately?
After I installed the Honey app, I forgot about it and just went about my business — until I shopped for some holiday chocolates at Russell Stover. Once I added some cases of caramel ornaments into my cart and went to check out, the Honey extension did its thing. And, all of a sudden, my $75 price for several cases dropped dramatically and I was paying $31 less than anticipated.
I happily checked out with my bargain chocolate and am now enjoying several cases of caramel ornaments that taste even better due to the deal I got on them. And, as if that wasn’t enough, Honey also awarded me cash back for my purchase and in just over a week of shopping, I’ve already earned $1.77 in cash rewards.
I’ll be keeping the Honey extension installed on my computer forever after this, and I even added it to my phone as well so I can save money on purchases I make while I’m on the go.
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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Christy Bieber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends PayPal. The Motley Fool has a disclosure policy.
