The Honey Extension: How I Save Hundreds Per Year While Shopping
Honey is one of my best-kept secrets for getting hefty discounts on many of my online purchases.
It's one of those sweet little tricks that I couldn't believe I didn't know about before, and I simply can't stop talking about.
It's got all the upsides, and pretty much no downsides that I have found.
Unless you count being able to justify more purchases because of the extension then you otherwise would!
So what exactly is the Honey extension?
Honey is a free browser extension that waits for you to add items to your online shopping cart at any retailer, and then notifies you if it has found discount codes that apply to your cart.
You can think of Honey as a busy bee that works online to scrape the internet for coupons and discount codes for the retailer you are buying from.
When you go to check out, Honey will automatically search for promo codes and will let you know if it finds any. Then a pop-up will appear asking you if you'd like to try the codes it has found.
If you accept, Honey will apply every code it has found until it reaches the highest discount, and then it will apply that to your cart.
Sometimes Honey can't find any codes, and sometimes it finds a handful of them but they are no longer valid. Such is the game of Honey!
That being said, Honey often finds discount codes for me that range between 10% and 40% off my shopping cart total.
I've easily saved hundreds of dollars over the last year with this free little extension, and that's why I can't wait to share it with you too.
How does Honey work?
So you've decided you want to give this honey thing a try. Now what?
Step 1. Sign up for free account.
Step 3. Start shopping!
A Quick Guide to Saving Money With Honey Gold
Honey Gold is a new feature that essentially gives you a percentage of your cart total back in the form of “Gold”. Your Gold points add up over time and can be used to get gift cards at a handful of major retailers.
The amount of Gold you will receive from each purchase you make online depends on the company you are purchasing from and the amount of your purchase. Generally the higher your subtotal, the more Gold you will receive.
Most companies who are part of the Honey Gold program give between 1% and 6% of your purchase price back. This might not seem like a lot, but over the course of a year of shopping it can really add up.
Of course, not every online retailer is eligible, so you’ll only receive Honey Gold on some of your purchases.
That being said, I’ve been using Honey for about 5 months now, and I already have nearly 4,000 Gold. (And I don’t do a lot of online shopping.)
Keep in mind that Honey Gold is given in addition to any discount codes Honey dredges up for you, so it’s even more money back in your pocket.
My favorite way to save money online is to combine Rakuten Ebates with Honey. Here’s a quick look at how much you can save by using both extensions:
- Rakuten Ebates which typically gives 1% to 10% cash backHoney discount code which often finds coupons for 10% to 30% off
- Honey discount code which often finds coupons for 10% to 30% off
- Honey Gold often gives between 1% and 6% back in Gold points
You can see that many of your online purchases will be seriously reduced just by installing two free extensions. Win!
So what do you do with your Honey Gold once you get it?
Each 1,000 Gold is worth $10 in the form of a gift card. US residents can redeem their Gold at the following online retailers:
- 1-800 Flowers
Options aren’t as good for non-US residents, but Honey is working on expanding their international Gold retailers soon:
- Australia: Amazon AU
- Canada: Amazon CA
- UK: Amazon UK
How Does the Honey Extension Make Money?
By this point, you are probably wondering what the catch is.
If it seems too good to be true, it is… Right?
Honey makes money the same way Rakuten Ebates does. And that is by forming partnerships with online retailers where the retailer gives them a percentage of purchases made by any customers Honey refers to them.
So for example, if you install Honey on your browser and then purchase something from Macy’s, Macy’s considers you to be “referred” by Honey. Macy’s will then reward Honey for referring you to them by giving them, say, 2% of your cart purchase.
Honey wants to keep your business, so they then split that commission with you.
Most of Honey’s commissions are split 50/50 with you the customer. So if Honey makes $2 on a purchase you make with their extension, they’ll typically give you $1.
This is a triple win because you get cashback, Honey stays in business, and the retailer gets new purchases referred to them.
There are a couple other ways that Honey makes money.
The first is that they display ads to their users within their promotional emails. You can easily unsubscribe from these if you don’t want them.
The second way they make money is through direct payments from companies who pay for Honey to promote them to their users.
For the most part, you can avoid all of this if you simply unsubscribe from their emails. I have, and I find Honey to be quite unobtrusive.
Honey is a free extension that makes it super easy to save money on your online purchases.
Not only do they scour the internet for coupon codes and apply the highest one for you at checkout, but their Gold program rewards you with points towards gift cards with most purchases.
Here’s how to set up your Honey account in under 3 minutes:
- Sign up for a free Honey account
- Install the Honey browser extension
- Shop as you normally would and accept any coupon codes Honey finds for you.
How Women Are Reaching Financial Freedom Faster Than Ever
Have you dreamed of becoming financially free... this year? This 7 day free guided challenge is your one stop shop for completely making over your money in a fun, exciting way. Join hundreds of other women now by signing up for the Makeover Your Money challenge!