Did you know: almost everything you buy comes with a warranty. While not all warranties are created equal, keeping the receipt is an important first step in making sure you can take advantage of it, if needed. We recommend you use Savvee (for iOS and Android) to manage your receipts, making sure they don’t disappear in a shoebox or discolor to the point of illegibility.
Most people don’t worry too much about receipts, stuff them in the bag with their purchases and discard it once they get home, or let them collect in their wallet until they start to disintegrate and then discard them as well. Did you know that the receipt actually fulfills a number of valuable functions?
Proof of purchase If you set off the security alarm at the shop entrance because the cashier forgot to remove a security tag, the receipt will show immediately that you paid for the item.
Returns Most stores will allow you to change your mind on a purchase for a set period, during which you are allowed to return the item for a full refund or store credit. The receipt will prove not only that you bought the item within that period at that store or chain, but will also show that you paid full price (often discounted pieces are exempt from the return policy). You can try to argue with the clerk to return an item without a receipt, but expect to be turned down. There is no global standard on return policies, so make sure you check with the store where you bought the item to learn more about your options.
Warranty It is very common for manufacturers to offer a warranty on their products. How long, can vary not only by manufacturer but also by item. The experience you have when trying to use your warranty can also vary widely: as a general rule of thumb, higher-end brands and companies with a strong sustainability focus tend to be more liberal in honoring their warranties and offering solutions that might go beyond the strict terms of their warranty policy. To learn more about what a warranty does and how it differs from extended warranty or insurance, check out our article on that topic here. To take advantage of the warranty, many manufacturers ask for proof of purchase. Additionally, whether you qualify for extended warranty, may be stated on the receipt as well: so make sure you save it.
Taxes Obviously, this is a very individual topic. Depending on where you live and your employment situation, different kinds of receipts can be useful to keep. Check with your tax advisor. If you don’t have a receipt, you are unlikely to get a deduction, so it’s always better to keep an extra receipt than regret later not having saved it.
Expenses If you incur an expense related to your job, your employer may reimburse you for the cost, but usually only if you have a receipt, so make sure to keep it, and in good condition. It is also important to claim your expenses as soon as possible to avoid forgetting about them.
No matter whether one or multiple of the reasons above apply to you, you want to make sure to keep your receipts for a long time after your purchase. You can do so in a shoebox, but it’s going to be a pain to keep that organized and you risk that the receipt becomes damaged or is no longer legible by the time you need it. So take a picture or have the store e-mail you a copy if that’s an option and keep your receipts organized using Savvee - then you are not only sure to find it when you need it but can see at first glance if you are still within the warranty period and get useful tips on how to get it fixed if not.
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