MyMoney Online

Is your loyalty program worth it?

In these tough times when households are under pressure to make ends meet, perhaps it time to have a closer look at loyalty programs to unlock some value to help get through.The more successful loyalty programs help you to change towards lifestyle behaviours which align to their business models and they reward you with useful benefits for doing so.

Here's how you can make the best use of your loyalt cards - and SAVE!

Here are some areas you should focus on with your loyalty program to ensure that you max out the benefits on offer.

Understand the program

Understand as much as you can about the program. What you have to do to get the most out of it. If you just, say, join it for a free gym contract, then you probably will miss out on a whole lot

There was probably a lot more to understand about the program in terms of its philosophy of say” wellness”. It probably would encourage you to eat well and focus on other areas like stress and mental health. The program probably also offers much more and the more instant the rewards the more gratifying it will be. So, getting to understand the program completely will obviously unlock a lot more value.

Are the values real?

As a premium member on one of my loyalty programs I have diligently kept up the required behaviours towards a healthier lifestyle. The rewards, in the main, are real and immediate with discounts on healthy food and retail items. However, when booking an air ticket recently, I realised that my 35% discount was applied to the “rack rate”. This ended up being no cheaper than similar air tickets available on the “Travel Start” website. So this reward had no real value. Check out the actual value of what is promised and try not to be lulled into perceived values.

Commit fully to the program

You will do better with fewer programs. You should align your goals with the program. If the program sets out to encourage you to improve your health, help you to drive better or manage your money more efficiently then you should commit fully. By so doing, you will enjoy most of the rewards on offer and improve your lifestyle at the same time. Dabbling in the program won’t unlock much in rewards and will just end up being a cost to you in membership fees.


Recommended

by NEWSROOM AI
Read More
Millennials – contrary to the stereotype - are very, very good with money

Millennials – contrary to the stereotype - are very, very good with money

Life is really hard for young adults, but they’re more than coping. Old Mutual research suggests older adults can learn from them.

Worried about money? How to have a courageous chat with your spouse about it

Worried about money? How to have a courageous chat with your spouse about it

Life planner Kim Potgieter shares five tips on navigating the complexities around money and relationships.

3 best shares to buy, right now (by Cartesian Capital)

3 best shares to buy, right now (by Cartesian Capital)

Cartesian Capital CEO Anthea Gardner shares her stock picks of the week on The Money Show.

How to keep your wealth from waning during a recession

How to keep your wealth from waning during a recession

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

The 3 most pressing (financial) questions asked in 2014

The 3 most pressing (financial) questions asked in 2014

Financial Fitness Coach Paul Roelofse gives sound advice on how to optimise your savings - or just to make ends meet in 2015.

4 beliefs about shares that keep you from growing wealthy

4 beliefs about shares that keep you from growing wealthy

4 popular, yet patently false, beliefs about stock market investing that's holding you back.

Popular articles
Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

Tax ombud to probe Sars – yet again - after taxpayers complain

Tax ombud to probe Sars – yet again - after taxpayers complain

The Money Show’s Bruce Whitfield interviews Adv. Eric Mkhawane, CEO at the Office of the Tax Ombud.

[LISTEN] 'Lesufi has been attacking Afrikaans schools since 2014'

[LISTEN] 'Lesufi has been attacking Afrikaans schools since 2014'

The Freedom Front Plus says the Gauteng Education MEC has flouted school language policies and is destroying Afrikaans.

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

'We can barely enforce tobacco legislation, how will we to deal with dagga?'

International law enforcement expert and former Drug Unit Commander Lobo das Neves says ruling opens a different can of worms.

Comair reports record earnings, 72nd profitable year in a row – a world record!

Comair reports record earnings, 72nd profitable year in a row – a world record!

Recession, soaring fuel costs and surplus capacity - yet profits keep coming! Bruce Whitfield interviews Comair CEO Erik Venter.