An easier Sunday morning
Some more relaxed stories, after a few ISA and pension-heavy weeks.
Last Saturday, I saw a poster for a book. On Sunday, I went to Waterstones, and bought it using the balance I had on my Waterstones Plus card - i.e. I got it for free!1
Did you know that every time you spend £10 at Waterstones, you get a stamp, and 10 stamps = £10 store credit?
In my experience, this is one of the best loyalty schemes around. Especially since the supermarkets are moving towards ‘member pricing’ instead of ‘free money’ schemes.
But carrying around loyalty cards was annoying, and now that they’re digital, it’s sometimes even harder.
Personal finance stories are still quite ISA and pension-focused this week, so I’ve written up a review of loyalty schemes and if they’re worth it below.
There’s also a piece worth reading about why prices have been increasing over the last two years, as well as a short read about starting a side hustle, if it’s something you’re thinking about.
1. Some UK loyalty cards - which ones are worth it? 🗂️
Money Brunch
The main points:
It’s a clunky but usually worthwhile process, for discounts
If it’s an app-based loyalty card, make sure you’ve updated the app, logged in AND loaded up offers - before you get to checkout
Waterstones (5 stars)
How it works: Each time you spend £10, you get a stamp. Each stamp = £1.
My review: Great, as it syncs with Apple Wallet (so you don’t have to go into the app) and I think it’s a great reward too!
re:lax (5 stars)
How it works: It’s a skincare (facials and massages) salon, with branches in Hackney and London Bridge. Each time you have a treatment you get a stamp, and after 9 stamps you get a free facial.
My review: I love going here anyway, and I loved having a free treatment this week too 😉
Boots (4 stars)
How it works: Each time you spend £1, you receive 3 points. Each point is worth 1p, that you can use as store credit. Plus, you can load up offers on to your card (a bit of a faff, and requires the app to be updated). And you get 10% off Boots own-brand products.
My review: Worth it, for the free store credit. The other benefits don’t hurt too (but there are lots to filter through).
Lidl Plus (3 stars)
How it works: You present your card (accessible only in the app) and get a digital receipt, plus you activate coupons for redemption against your shopping.
My review: I think I may have saved 15% on a packet of nuts once or twice, but the rewards aren’t great. Very occasionally, they offer something more significant, like £10 off when you spend £40. And the app HAS to be ready to go when you get to checkout, as you can’t add the card to your wallet.
M&S Sparks (2 stars)
How it works: Each week there are different offers available to you. You have to go into the app, add offers to your card, and then present your card at checkout to apply the offer (an example is 15% off women’s nightwear).
My review: Absolute faff of a process; the app always seems to need updating or you have to log back in. The offers are good if you have kept an eye out for something, and are waiting to buy a staple homeware or clothing item. They encourage you to present your card at checkout (with the chance to get your shopping for free) but all you ever get is an email asking you to review your experience at the store (so maybe don’t do this).
Co-op (1 star)
How it works: When this first launched (I think last year?), you’d earn store credit each time you shopped, which you could redeem straight away. It was a few pence at a time, but was brilliant! Now, all you get is member prices; discounts on a handful of products in store. And prices are high to begin with.
My review: Worth keeping in your digital wallet, but don’t expect to scan it every time you’re in store. You’re unlikely to come across too many offers.
2. Crippling mortgages and £16 olive oil: how much have UK prices risen in the past two years? 🪙
The Guardian
British households are now spending between 35% and 50% more for products and services than in April 2022.
Different factors are at play, affecting different things like groceries, energy, car insurance, and mortgages.
But even though there are indications that inflation is starting to go down, it doesn’t mean prices will go back down. As the article says: “Once items become more expensive, they rarely get cheaper. Even if inflation falls to zero, olive oil is unlikely to return to £6 a bottle. Virgin Media probably won’t cut your broadband bill, and no one really expects Pret to drop the price of coffee.”
This is an article I’d recommend reading if you want to understand the why behind different price increases.
3. When is a side hustle actually worth it? 💪
The key points:
Monetise something you’re already doing.
Make a list of five skills that you regularly use and enjoy.
Pick one and explore what’s monetisable
Put in a few hours and see how it goes
Try to avoid taking a side gig just because it’s available - you’re just shooting in the dark
E.g. I tried during surveys for a couple of weeks - it took so much time, and the rewards were not worth it for me
If you need money right away, you’ll probably have to do a more hands-on, physical side hustle
We’re talking doing deliveries, or dog walking, or babysitting etc
Explore one side hustle at a time - to avoid burnout
You can’t monetise every inch of your life!
This piece is also worth a read. It’s an interview with the founder of HomeServe (a UK-based multinational home emergency repairs and improvements business). His tips for entrepreneurs include:
Having a 'not-to-do' list
Not being ashamed to copy good ideas if you can do them better
Are there any loyalty schemes you rate? Share in the comments!
Know someone who would enjoy this in their inbox on a Sunday morning?
I’m meant to be on a book acquisition hiatus, but this book was too relevant - so it got a pass. When I finish it, I’ll share a review… 👀