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Is Honey Worth It and Can It Save You Money? – MUO – MakeUseOf

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You’ve no doubt seen Honey ads all over the internet. But is the money-saving extension worth it, and does it actually save you money?
When it comes to pervasive ad campaigns, Honey seems to have mastered this aspect of the internet. The company has partnered with some of the most famous online influencers, have placed ads on TV, and seem to pop up in virtually every ad space available.
But what is Honey, and can it really do all it promises? Let’s take a look.
Honey is a browser extension and app that automatically finds and applies coupon codes to your basket when online shopping. Users can also earn Honey Gold on these purchases, which in turn can be used to redeem gift cards at a variety of big-name stores.
While coupon codes remain the core focus of the Honey extension, you can also sign up for price drop alerts and use Honey on Amazon to find the lowest price for any selected product.
In January 2020, PayPal acquired Honey for an estimated $4 billion, which is PayPal's largest acquisition to date.
Yes! Honey is 100% free for consumers to use. There are no catches. Simply sign up, use Honey at checkout and redeem your Honey Gold.
While Honey won’t cost you a penny, the company does acquire your spending data, so depending on how you feel about this, you may or may not want to install the extension. So, long as you practice good data privacy habits and trust Honey to protect your spending data sufficiently, then there’s not really an issue.
If Honey is free to use and gives out real gift cards, how is Honey making its money? In short, Honey takes a commission from its merchant partners every time a member uses the Honey extension. Some of this commission goes to fund the Honey Gold scheme, and the rest is profit.
While Honey does need your spending data to find you the best deals, on its privacy page, Honey states that it does not need to and does not want to sell your information.
Moving onto the golden question, can Honey really save you money? The answer is a resounding yes!
I, personally, have been using Honey for several years and have lost count of the number of times it's found a coupon code that has saved me money on my purchases. In addition to regularly finding money off coupons, Honey can also bag you free shipping and will remove a newfound coupon if you already have one that will give you a better deal.
On top of saving money on everyday purchases, it’s surprising how quickly your Honey Gold racks up. Once you reach 1,000 Honey Gold points, you can redeem your balance for a $10 gift card of your choice. Considering Honey is free to use, if you shop as usual and are still saving money and earning Honey Gold, then this seems like a win-win scenario.
For Chrome users, the process of installing Honey as a browser extension is as follows:
While most browsers follow a similar process, the installation does differ slightly from browser to browser. You can find a complete list of browsers and how to install Honey on each of them on the Honey website.
If you aren’t already using extensions on your browser, you could be missing out on a lot more than simple savings. Browser extensions can help you donate to good causes, streamline your daily workflow, and even make your browser more accessible.
The more you customize your browser with helpful extensions, the better your online experience can be. What are you waiting for?
Sophia is a features writer for MakeUseOf.com. After graduating with a degree in Classics, she started a career in marketing before setting up as a full-time content writer. When she’s not writing her next big feature, you’ll find her climbing or riding her local trails.
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