Profitt Report: How to make money with your receipts

Photo credit: Walmart / CC BY 2.0

When your grocery shopping trip is said and done, what do you do with the receipt? If you throw it away, you might as well be throwing away free money.

We spoke with Kyle James, founder of, via Skype. He uses a handful of smart phone apps to get the most out of his receipts.

“The first one I recommend is the Ibotta app,” he said.

You log on, choose the store where you’re shopping and active the available rebates.

“You go do your shopping and when you come home, you simply just scan your receipt,” James said,

“you can redeem that money for either cash via PayPal or gift cards, it's really easy, I love it.”

Next, James loves Walmart’s Savings Catcher app. You scan your receipt at the end of your trip and it will figure out if any of your items are offered for a lower price at competing stores.

“If it is, it'll give you the price difference,” James said.

His third app is called Punchcard. This one is simple: upload your receipt from just about any major retailer.

“You get these things called mPOINTS. What you can do with those, you can redeem them for gift cards, they have sweepstake entries, they have actual products like electronics, smaller accessories for your electronics, all kinds of cool little gadgets,” he said.

Next, the Yaarlo app works the same way, except you earn a percentage of the total of your receipt.

“It starts low around a quarter to a half a percent and it builds up to one percent the more you use it,” James said.

Last but not least, James recommends checking the bottom of your receipt for a good, old fashion survey.

Using these apps, James said he’s earned a nice chunk of change.

“All these apps combined, probably at $60-70 a month, it is a lot, that's a pretty decent trip to the grocery store right there,” James said.

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