When it comes to the exciting world of my money and the principles of personal finance I don't mind being called names. Take for example some of my favourites: stingy, cheap, crazy, and frugal. Bah humbug!
Let's talk about customer loyalty and how it can help you keep your hard earned cash in your wallet, or purse as it may be for you ladies in the crowd.
I for one have one main credit card that collects those wonderful Aeroplan points. Now if I buy gas then I get one Aeroplan mile for each dollar of gas. If I buy an item not normally related to being on a business trip and more of an everyday essential, such as at the drug store, grocery store, etc..then I now get 1.5 Aeroplan miles for every dollar. If I purchase a flight with Air Canada then I get Aeroplan miles for when I fly, and if I get the ticket online then I get even more. Plus let's not forget the fact that I'm also getting Aeroplan miles for using the credit card in the first place. I never use cash or debit cards. I put all of my expenses on my credit card and then I'm disciplined enough to pay it off each month in full. This strategy of customer loyalty to one credit card has earned me an iPod and at leat 8 free flights in North America over the last 5 years.
So now that I have my credit card attack planned out then my next customer loyal tip is for when you have to buy toiletries. I for one only shop at one drug store and I wait until they have 15-20 times the points. I would then go in the drug store, you guessed it, with my snazzy and jazzy credit card and then buy a months supply of goods. This gives me bonus points plus I'm still getting my Aeroplan points. This has allowed me to redeem my points for an iPod as a gift; pays for all my roadtrip materials such as snacks, sunscreen, sunglasses, etc...; DVDs; and of course razor blades!
Folks. The moral of the story is that with price guarantees at most stores and comparable prices then why not be committed to one or two stores and have them work in your favour. It could even end up being like Cheers...where everyone knows your name, but you don't want to be known as the greasy guy that continually walks into Shoppers Drug Mart buying condoms, lube, and pantyhose!