Posted in Hacks, on 11/24/2015

5 Reasons Smart Shoppers Save Receipts

Hey, savvy shopper! You’re already a mastermind at tracking and scoring deals. You were born to rock sales, and you’re about to totally win at Black Friday and Cyber Monday again this year.

(Lookin’ at you, family who maps the store and camps out. That’s intimidating and we respect you.)

But are you rocking the entire purchase process? You already have the buying know-how, but are you following through? Here are the top 5 reasons to save your receipts:

Easy Returns

No-brainer. If it turns out that your awesome new TV just doesn’t look right in the living room, check your receipt for the return policy and get that thing back to the store.

Price Matching and Adjustments

As incredible as you are at scoring great deals, you might find an even better deal after you’ve taken your new monitor home. For retailers that allow price matching and adjustments, take your receipt to the store for a quick refund of the difference.

Insurance: Proof of Ownership

Sometimes bad things happen to good electronics. If you need to make an insurance claim, it’s common for insurance companies to ask for “proof of ownership,” which is established by a receipt.

Warranties: Proof of date of purchase

If your new tablet just stops working a week after you got it, don’t sweat it - you’re covered by a manufacturer warranty, which protects you from dealing with trouble from product defects for a certain period of time after your purchase. If you need to use your warranty, one of the first things you’ll be asked for is proof of date you purchased your item.

Tax time: proof for things you plan to deduct from your taxes

Taxes. A labyrinthian experience, even for the most prepared among us. If you’re planning to deduct any big purchases (say, you’re freelancing and you want to deduct business expenses for furnishing a home office) you’ll want to save those receipts just in case the IRS wants to see them. Pro tip: for tax-related receipts, save them for seven years, which is how far back the IRS can ask to see them.

Okay, what's the best way to save receipts?

With the “why” taken care of, how are you going to save receipts? Shoe box method? Pile-on-desk method? Folder method?

Winner is...Digital method! Storing receipts in the cloud allows you to conveniently access your receipts anytime, anywhere.

Trōv makes it ridiculously easy to save receipts (download for iOS and for Android). You can add receipts by snapping a photo or forwarding it to us at receipts@trov.com. You can also auto-magically add receipts to your Trōv by securely linking your inbox.

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