Think Outside The Piggy Bank

reward points

Are they worth it? I'm thinking more about store reward programs than the reward points earned with credit cards. Let's take the Shoppers Drug Mart (Canada's largest pharmacy chain) Shoppers Optimum Reward program as an example. When you rack up 7,000 points, you can save $10 on your next purchase. Sounds great, but in reality that means (if you don't end up earning extra bonus points along the way) that you've spent $700 to get the measly ten bucks. If you make it to the highest level of 75,000 points, you get rewarded with $150. But of course you've spent (again, without extra bonus points thrown in to help) a whopping $7,500! Now, it's true that if you would have spent that amount in that particular store anyway, then the reward is kinda nice (although still paltry), but I think the reward system entices you to spend more than you normally would. At least, it did with me a number of years ago. When I found myself deliberately buying things I didn't necessarily need (yes me, the frugal one!) just to get more points more quickly, I stopped using the Shoppers Optimum card and am glad I did.

Ha! Here's someone with a different take. Kathryn uses the reward system to much greater advantage, so perhaps I need to rethink my strategy.

Canadian Tire 'Money' coin

I've written about Canadian Tire 'money' before, but now they've come out with a $1 coin (featuring the same weird guy as on the paper bills), which depending on your point of view, is either kind of cool or just plain stupid. Now I personally wouldn't mind getting this coin, but the problem is that you have to spend $25 first to get it. And it's only available this Saturday and Sunday. Touted as the first ever Limited Edition Canadian Tire 'Money' coin, I wonder how many people will go for it. Like I said, I wouldn't mind having it, but there isn't anything worth $25 at the store that I actually need. I even scoured the weekly flyer hoping that something, anything, would catch my eye, but nothing did. Well, except for the Sesame Street sandwich maker (yes, it's a sandwich maker that toasts two sandwiches with an impression of Elmo & Cookie Monster), which also is kinda cool OR stupid depending on your point of view. In my case it first caught my eye, but then made it roll, snort. And another problem with the coin (like the bills) is that you can only use it in Canadian Tire stores. It can't be used in general circulation, although I'll bet you someone will try!