If you’re focused on budgeting, paying off debt, or saving for a big ticket item, it’s also very normal to want to go out, spend time with friends… or just enjoy life! I’ve been there. In my early 30’s, Kurt and I were tackling multiple financial goals: paying off debt, investing in grad school education, saving for our next property, and counting our pennies each day to help us achieve goals. At some point, I stumbled upon a hack that allowed us to earn income on the side and enjoy meals at fine dining establishments for free: mystery shopping.
I took advantage of free food at fine dining establishments. At each restaurant we visited (for example a Steakhouse near Madison Square Garden or another in Lincoln Center, etc.) it was expected that we order two appetizers, two beverages, two entrees, and two desserts. Each of these meals cost us $0, allowing us to enjoy a special night out without worrying about the price tag. While this post might not be an athlete-specific topic, I love sharing this hack with others because mystery shopping presents numerous financial advantages that you can leverage beyond just free food! From complimentary items to cash rewards, below are a few financial perks that mystery shopping provides.
Financial Perks to Mystery Shopping
- Free Meals and Products: One of the most enticing aspects of mystery shopping for me is the opportunity to enjoy complimentary meals at restaurants or receive free products from retail stores. Mystery shoppers are often reimbursed for their purchases or provided with gift cards or cash back into their bank account, turning their shopping trips into cost-free endeavors.
- Earn Extra Income: Mystery shopping isn’t just about getting freebies; it’s also a viable way to earn extra income. Many mystery shopping assignments offer monetary compensation in addition to reimbursements. By completing various tasks such as evaluating customer service, cleanliness, and product quality, individuals can pocket extra cash on top of the benefits received.
- Reimbursement for Expenses: Apart from freebies and cash rewards, mystery shoppers are typically reimbursed for any out-of-pocket expenses incurred during assignments. Whether it’s travel expenses, hotel stays, parking fees, or other related costs, these reimbursements can add up and help offset everyday expenses.
- Discounts and Special Offers: Mystery shopping often grants access to exclusive discounts and special offers that aren’t available to the general public. Retailers and service providers may offer discounts to mystery shoppers as an incentive for their feedback and evaluation. These discounts can result in significant savings on purchases and services.
- Flexible Schedule: Unlike traditional part-time jobs, mystery shopping offers unparalleled flexibility in terms of scheduling. Individuals can choose assignments that align with their availability, making it an ideal side hustle for those with busy lifestyles or full-time jobs. This flexibility allows individuals to earn extra income without sacrificing their primary commitments.
- Tax Deductions: Expenses related to mystery shopping, such as transportation, meals, and equipment purchases, may be tax-deductible for individuals who treat mystery shopping as a business or side gig. Consult with a tax professional to determine eligibility and maximize deductions, potentially reducing taxable income and increasing overall savings.
- Opportunities for Perks and Bonuses: Some mystery shopping companies offer perks and bonuses for high-performing shoppers. These incentives may include additional cash rewards, gift cards, or priority access to premium assignments. By consistently delivering quality evaluations, mystery shoppers can unlock valuable perks that enhance their overall financial benefits.
- Enhanced Budgeting Skills: Engaging in mystery shopping requires meticulous record-keeping and budgeting to track expenses and earnings accurately. Over time, individuals develop stronger budgeting skills and financial discipline, which can translate into better money management habits in other areas of life.
- Networking Opportunities: Mystery shopping can also open doors to networking opportunities within the retail and service industries. Building relationships with store managers, employees, and other mystery shoppers may lead to insider tips, job referrals, or even additional income streams outside of mystery shopping.
- Skill Development: Beyond financial gains, mystery shopping offers opportunities for skill development in areas such as observation, communication, and attention to detail. These transferable skills can prove invaluable in various professional and personal endeavors, potentially leading to career advancement and increased earning potential.
Looking back, Kurt and I saved hundreds of dollars and found ways to enjoy enjoyed date nights without compromising our financial goals. If you’re tight on cash but want to enjoy a date night for free, I’d highly consider signing up to be a mystery shopper. Beyond the free stuff, you’ll have the opportunity to earn extra income and stick to your money goals.