CVS CHALLENGE

Yesterday I started, what I like to call, the CVS challenge. Using the CVS rewards system and by clipping coupons, I am setting a goal to use no more than $5 a month on toiletries (shampoo, conditioner, tp, lotion, contact solution...) for two people. Contrary to popular belief, I am not going to ration out toilet paper squares or anything else for that matter. I'm just going to shop smart and make the system work for me a little.

Here is how I am doing this.

1) First things first. Sign up for a CVS card and register it online. You can get a card in the store. Its not a credit card and it won't cost you anything.

2) Buy the Sunday newspaper to receive their sales flyer as well as manufacturer's coupons.

3) In the flyer you will see certain items that generate "extra bucks". This means that you will purchase the item for full price but at checkout the extra bucks will print out with your receipt. "Extra bucks" is like real money except that they have an expiration date (use within a month).

For example: Yesterday I purchased a name brand contact solution for $9.99 and I received $9.99 in extra bucks. I can use those extra bucks to buy anything in the store, which basically means that I received the contact solution for free. Big deal right? Generic contact solution is $2 at Walmart, so why go through all the trouble? Here's why.

4) With my extra bucks I am going to purchase more items that generate MORE extra bucks. With those extra bucks I'm going to purchase more items that generate MORE extra bucks... And you get the idea.

Of course, nothing is that simple and here is where the challenge lies.

The contact solution that I paid $9.99 for and that generated $9.99 ECB (Extra Care Bucks) was the only item in the flyer that matched the amount of money you got back with what you spent. There are, however, plenty of items that give you back ECBs... But its more like getting $2 in ECBs for a $6 item.

For example: Yesterday I purchased 12.6 oz Pantene conditioner ($3.33) and a hair styling product ($3.49). This purchase generated $2 ECBs. Again, what's the big deal? I still have to pay quite a bit out of pocket, right? Well, not necessarily.

5) This is why you clip coupons. In last month's paper there was a buy one Pantene product get one (around the same value) free. So I purchased two products for $3.49, which is a good deal within itself and then I generated $2 ECBs. Essentially I paid $1.49 for the conditioner and hair mousse. You couldn't get two travel sizes for that little.

So now I have $12 ECBs to use towards my next purchase. I also have a coupon (which you receive when you first sign up for the CVS card) for $4 off a $20 purchase. On my next shopping trip I will spend $4 out of my own pocket for $20 worth of merchandise. I will have to find the best deals that will generate the most amount of ECBs to keep things rolling. If I can manage this, I will hopefully accomplish my goal of spending $5 or less a month for toiletries.

I will keep you all updated on my progress as well as where to find the best deals.