Who Wins in the Savings Race: CVS or Walgreens?

Everyone knows the story of The Tortoise and the Hare, as told by the famous Aesop. "Slow and steady wins the race". When it comes to saving money, people tend to be more like the hare. Who wouldn't? Everybody needs money now and fast. Sometimes it works out that way and sometimes it doesn't. That's how I see it when I shop at both CVS and Walgreens. Both places offer ways to save money in different ways. It's just a matter of discerning which one is best for you.

The Hare: CVS
I never really shopped at CVS until I moved closer to one; Walgreens was always my number one choice based on convenience. Still, that didn't stop me from enrolling in CVS' ExtraCare program and obtaining a card. I really only did so because of one thing: Upromise.

Upromise is a site that helps families save some money for college education by receiving a percentage back on select products, restaurants, and online stores, to name a few. CVS is a participant in this program. By obtaining a CVS ExtraCare card and registering that number in your Upromise account, any items bearing the Upromise logo qualifies for a percentage back that will help towards your child's college fund. I only signed up for the ExtraCare card for that reason alone in case I every stopped in a CVS store. Even better, every time you shop online at CVS with your ExtraCare card, CVS will contribute 5% of your nonprescription purchase price to your Upromise college savings account.

Little did I know that I would be a frequent shopper only a year ago when I moved. The nearest CVS store is literally down the street from me and within walking distance. The more I have become acclimated with the store, the more I have learned of the benefits they have to offer for me. Utilizing the ExtraCare card can earn you Extra Buck Rewards that can be obtained by making purchases at CVS. Instant Extra Bucks can be obtained by buying certain products advertised for that month. These Extra Bucks will then be printed at the bottom of your receipt. You can also earn 2% back with almost every purchase you make. Every three months, your Extra Bucks will print at the bottom of the receipt as well.

For example, if I buy $20 of Huggies products within the given time frame, I will earn $5 in CVS Extra Bucks. A record of your purchases is tracked so I can see at the bottom of the receipt just how much more is needed in order to attain my goal. Once I have reached the $20 quota, my $5 Extra Bucks will appear instantly at the bottom of the receipt and good to use on my next purchase. There is an expiration date to these Extra Bucks so my advice is to horde as many as possible and use them against big ticket items or large purchases. Maybe you might get even more Extra Bucks in the process.

Every three months begins a new shopping cycle. Your total purchases are tabulated until the end of the cycle. When the new one begins, whatever you spent in that timeframe will earn you 2% of Extra Buck Rewards. So if I spent $100 in those three months, I will receive $2.00 (2% of what I purchased) for my trouble at the beginning of the new cycle. This will also be printed at the bottom of your receipt. It may not seem like much, depending on your purchasing habits, but every little bit does add up and help in the end.

Registering your Extra Care card on CVS.com can also ensure that you might get some extra rewards. I've been invited to do some surveys that resulted in $10 Extra Bucks for my time.

At every CVS store is a product scanner. If you scan your CVS ExtraCare card, you can get some great coupons to use before you even begin to shop. And, of course, Upromise members will be benefiting if they buy select products bearing the Upromise logo.

The Tortoise: Walgreens
I used to live really close to Walgreens. In fact it was at the end of the block. I would be there almost every day picking something up that I needed. The sheer convenience and location made me a frequent customer. When I moved I did discover another Walgreens nearby but it wasn't as close. Still, I know what to expect whenever I shop there.

More importantly, I utilize Walgreens' Easy Saver Rebate program. I know a lot of people cringe at the word "rebate". They never seem to be worth the time and effort in submitting the necessary information in order to receive a few pennies back in the mail. I was of that frame of mind until I changed my tune to Walgreens' rebate program. And it's really quite simple to do.

Every month, Walgreens publishes an Easy Saver catalog that can either be picked up in the stores or viewed online. The first half of the book contains many coupon savings. The latter half of the book contains information about the items that are participating in the rebate program that month. I usually scan to see if there is anything worthwhile to purchase in that month.

For example, if I buy $10 of select Hersey's chocolates, I'll get back $5. If I buy select Duracell batteries, I'll receive $3 back (up to 4 times for a total of $12 if need be). Or I can get a Crest toothbrush for free after I submit the rebate form. It varies from month-to-month but I always make sure I participate in some way.

At the end of the monthly promotion, I will submit and mail in my receipts to the rebate center. I can opt to receive a check or a Walgreens gift card. If I ask for a check, I will get back the rebate amount that I submitted; however, a Walgreens gift card means I get back the full amount plus an extra 10%. It all comes down to your preference: do you want the cash or the gift card? Frequent shoppers to Walgreens will usually do the gift card route. To me, it's rainy day money. I keep reloading the gift card every month and let the money sit until I really need it. By submitting the gift card number with the rebate submission ensures that my money will deposited to the gift card.

Walgreens has made submitting receipts even easier. Now it can all be done online. You just need to register at Walgreens. com in order to do so. I really appreciate this move as I can track my purchases in a much easier fashion. It's still advisable to keep your receipts in case of a dispute but doing it this way saves time in mailing out the receipts. This means getting your rebate money even faster. Do I actually use everything I but at Walgreens? For the most part the answer is yes, but I never use it all right away. I do have items that I store away until I need them.

And the Winner is...
Both CVS and Walgreens offer different things with its money savings program. Quite honestly, I utilize both of them at the same time.

CVS is instant gratification. The rewards are quick and ready for use as soon as you receive them. Armed with both manufacturer and CVS coupons, the savings can be plentiful.

Walgreens is long term savings. Participating in the rebate program may be tedious but I'm surprised at how quickly my gift card fills up in a short amount of time. It really is useful to have on hand when there is an emergency, and this has happened to me on numerous occasions.

If you asked me over a year ago, I would have said that the tortoise would always win the race. Now I have to say that this isn't the case anymore. More than anything, it's always going to be a tie for me because in the end, I'm the one who wins from both of these places.