We all do or have gone shopping at least once in our life. And we often go shopping for relaxation and also for buying basic things. For every purchase we make, we receive a receipt which we usually throw in the dustbin. Yet, they are important, and you can not throw them away just like that. In this blog, you will learn the reason why you should never throw away your receipts. Let us know more detail about ‘5 Reasons To Never Throw Away Your Receipt’.
5 Reasons To Never Throw Away Your Receipt
What are Receipts?
A receipt is a document that you’ll receive after payment during your purchase. In simple terms, receipts are proof that you have made a purchase using your money. Receipt can be a piece of paper or electronic generated. From a small household grocery to a big diamond necklace that you buy, you will receive a receipt. Even businesses, whether big or small, use receipts today.
Types and examples of Receipts:
The receipts are mainly classified into two types:
- Revenue receipts – Ex: money received for products, services, rent, commission, interests, dividends, etc.
- Capital receipts – These include cash from bank loans, insurance claims, selling shares, and so on.
5 Reasons Why You Should Never Throw Away Your Receipt:
Receipts are essential in every transaction that takes place. Following are the top five reasons why you should never throw them away:
- For a refund or replacement
- Could be used as proof in case of a loss
- A receipt may contain a coupon for your next purchase
- For Warranty purposes
- Chance to get a cashback and discounts with your receipt
Interesting? Let us see these reasons one by one in this blog.
1. For a refund or replacement:
The receipt will be helpful when you want to get a refund or replacement in case of any damage. For example, you are buying a mobile online and when it arrives you find it was damaged. So, if you want a refund or to get a replacement, the first thing you will be asked for is your receipt. In case of any big purchase you make, it is important to keep your receipts with you at least till the warranty period.
2. Could be used as proof in case of loss:
As said above, receipts are the proof that you will have for any purchase. It will be specially useful in case of a theft or a loss. To file a complaint against a loss, a receipt will be helpful as proof.
3. A receipt may contain a coupon for your next purchase:
Most receipts today come with a coupon or a discount offer along with them. Also, many shops today offer discounts and cashback. Having a receipt will help you in claiming those offers.
4. For Warranty Purposes:
Receipts will be particularly helpful for any electronic equipment that you buy. For example, when your mobile has some problem, and you bring it for repair, you will be asked for the receipt. In addition, your receipt tells you the duration of the warranty period. Moreover, your receipt will contain instructions on the device you purchase. It is useful for you in case of an emergency.
5. Chance to get cashback and discounts with your receipt:
There are many mobile apps today that offer many exciting cashback and rewards for your purchase. The apps are:
- Ibotta app
- Walmart Savings catcher app
- Punchcard app
- Fetch rewards app
These apps help you to earn cashback and discounts. For example, the fetch reward app gives rewards wherever you shop. However, some of these apps reward you for shopping in specific stores only.
Other benefits of Receipts:
Apart from the reasons mentioned above, keeping your receipts also has other benefits. They are:
- Tax deductions
- Tracking your expenses
- Budgeting
- Expanding small businesses
Conclusion:
Keeping a receipt is also an art. You have to make sure to place all the receipts in a separate area or file which you will remember. This will help you to find a receipt quickly when you need it. However, receipts such as credit card receipts that contain your personal information or other major information should be kept safe. However, before throwing away these receipts make sure you shred them to avoid any hacking of your bank accounts.
FAQs:
- How long should I keep a receipt with me?
It is advisable to keep your receipt with you for at least three years.
- Can I recycle a receipt?
Receipts cannot be recycled. Because receipts are made from harmful chemicals and more than one material.
- What to do with my old receipts?
If the receipt doesn’t contain any of your personal information, then, you can simply throw it in the bin. If it contains your personal information like credit card bills, you should shred it before throwing it away.
- What to do if I lost my receipt?
The best thing you can do is contact your merchant and request a copy of the receipt.
