In today’s economic climate, where inflation is on the rise and costs seem to soar at every turn, finding ways to make your money work harder is more important than ever. Whether you're a small business owner juggling multiple responsibilities or a savvy consumer, it’s crucial to capitalize on every opportunity to save or earn extra cash. The good news? There are tools that can help you do just that, effortlessly integrating into your day-to-day purchases and putting cash back into your pocket.

By using rewards programs like Capital One Rewards, cashback platforms like Rakuten, and savings tools like Honey, you can easily turn your everyday purchases into extra cash. In today’s economy, with rising costs all around us, every bit of savings matters—so why not make the most of what’s already available?

1. Capital One Rewards: Turn Every Purchase Into Points

For those already using credit cards for daily or business expenses, you might be missing out on valuable rewards if you’re not enrolled in a program like Capital One Rewards. This program allows you to earn points on nearly every purchase, from office supplies to meals. These points can be redeemed for cash back, gift cards, or even travel perks.

If you're running a small business, consider designating certain expenses, such as travel or supplies, to a rewards credit card. This way, the purchases you’re already making can earn you points, helping to offset future expenses, reinvest in your business, or fund a well-deserved vacation.

Key Tip: Pay off your credit card balance each month to avoid interest charges and truly maximize the rewards.

Use Rewards for Non-Deductible Expenses

Another powerful way to leverage your rewards points is by applying them to expenses that aren't tax-deductible for your business. For example, costs like client gifts, personal meals, or even certain travel expenses can often fall outside of what the IRS allows you to write off. By using your Capital One Rewards or other point systems to cover these, you're effectively lowering your out-of-pocket costs without impacting your business’s financial statements. This strategy frees up your cash flow for more critical, deductible business expenses, helping you optimize both your finances and your rewards.

2. Rakuten: Cash Back for Your Online Shopping

Rakuten (formerly known as Ebates) is a powerhouse when it comes to earning cashback for online purchases. Simply sign up for free, and whenever you shop online at one of their thousands of partner stores, you’ll earn a percentage of your purchase back in cash. The best part? Rakuten has partnerships with major retailers that you likely already frequent for business supplies, electronics, and even everyday personal items.

To maximize savings, always check if the stores you're buying from offer cashback through Rakuten. The platform offers quarterly payouts, so if you use it consistently, you can get a nice boost to your bank account throughout the year.

Pro Tip: Rakuten also often offers bonuses for new users, and their browser extension makes it even easier to ensure you never miss out on cashback.

3. Honey: Find the Best Deals Without Lifting a Finger

Honey is a browser extension that automatically applies coupon codes at checkout, ensuring you always get the best possible price on your purchases. Whether you're buying office supplies or ordering meals for team meetings, Honey takes the guesswork out of saving money.

But Honey’s features don’t stop there. Honey’s “Droplist” function allows you to track prices on specific items and get notifications when the price drops, allowing you to time your purchases to maximize savings. This is especially useful for small business owners who need to monitor costs closely and time their purchases for optimal savings.

4. Stack and Save: Using Multiple Tools Together

Want to turbocharge your savings? Combine the use of these tools. For example, shop through Rakuten to earn cashback and use Honey to find a discount code. Meanwhile, paying with your Capital One Rewards card could also earn you points on the same transaction. It’s a triple win!

While it may take an extra step to check these tools before making a purchase, the rewards add up quickly, and soon it’ll become second nature to optimize every transaction.

5. Other Tools to Consider

  • Ibotta: This app is perfect for earning cash back on groceries, office supplies, and more. Simply scan your receipts after shopping and earn cashback on qualifying items.
  • Fetch Rewards: Similar to Ibotta, this app allows you to scan receipts and earn points, which can be redeemed for gift cards. It works for both personal and business-related purchases, making it easy to accumulate points over time.
  • Upside: Especially helpful for those who spend a lot on gas, Upside offers cashback on fuel purchases at participating stations.

Why Every Dollar Counts

In times of high inflation, stretching your budget becomes not just smart, but necessary. Every saved dollar can be reinvested into your business, funneled into savings, or used to buffer personal expenses. For small business owners, especially, these cashback tools and rewards programs can make a significant difference when managing tight margins. And with so many user-friendly options available, you can start earning back money on everyday purchases with minimal effort.

Don’t Leave Money on the Table

In the current economic climate, it’s more important than ever to take advantage of every opportunity to save or earn extra cash. Programs like Capital One Rewards, Rakuten, and Honey make it easy to turn your everyday spending into a powerful tool for savings. Whether you’re covering business expenses or personal purchases, why leave money on the table when you can put it back into your own pocket?

As small business owners, we wear many hats, and financial discipline is just one of the many responsibilities we juggle. Using the right tools can help ease the burden, giving us one less thing to worry about and allowing us to focus on growth and success.