It's official - Gift cards aren't just for birthdays and graduations anymore. The results of the inaugural Gift Card Granny Challenge are in, and they confirm frugal shoppers have a new best friend. Ashley Grimaldo, a stay-at-home mother of two, slashed $206.29 from her monthly expenses by making all her purchases in March (excluding rent and utilities) with discount gift cards. Plus, Ashley accomplished this while enjoying almost all of the same activities and spending habits she and her family of four normally do.
During the Challenge, Ashley paid an average of 10-percent less for each daily purchase on everything from clothing to groceries to restaurants and even gas. To put those savings in perspective, that could mean $331,476 more in her family's pocket over 40 years at 5-percent interest!
Over the course of the month, Ashley saved the following:
- Gifts - 23 percent
- Clothing - 13 percent
- Restaurants - 10 percent
- Entertainment - 9 percent
- Home - 8 percent
- Groceries - 4 percent
- Gas - 3.5 percent
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