3 Ways Price Comparison Apps Change How You Shop Forever

Before we all had smartphones, finding the best deals was a weekend chore. You had to peruse the shopping flyers and bulletins, clip coupons, and compare prices at four or five different stores just to be sure you were getting the lowest price. People found good deals, but not without some effort.

Algorithms and access to immense amounts of data have changed our shopping habits for the better. Nowadays, finding the best prices amounts to downloading the right suite of price comparison apps and leveraging their power to bring the deals to you. While they have many strengths, their main selling point is that they compare prices across thousands of merchants and point you to who has the lowest price.

If you haven't tried price comparison apps yet, here are three ways they'll change how you shop.

1. Check prices while you're shopping

Arguably, these apps' biggest perk is the ability to check prices instantly across thousands of stores. If you have a shopping list, these apps will let you compare prices for each item and tell you where you'll find the best deal. Many also come with barcode scanners, which come in handy if you spot a good deal in a store and want to compare it with similar deals found online.

The app BuyVia is good for this. The app's built-in scanner will help you search multiple retailers -- like Target, Amazon, and Walmart -- to see if the price is cheaper in store or online. The experience isn't perfect (it doesn't tell you which store has the cheapest price, and just lists retailers who may sell the product), but it compiles data faster than you could do it on your own.

If you're at home, try Price.com. The app lets you search specific products and will tell you -- based on the merchants in its database -- who has the lowest price. For example, let's say you're looking for the best deal on a Barbie Dreamhouse. At the time of writing this, Price.com tells me that Target and Walmart have the lowest prices ($139.99), even lower than buying it used off eBay ($150). This is just an easy way to ensure you're getting the best price, and you can do it from your couch.

2. Activate coupons and cash back offers

Not only do these apps help you find low prices but they also have cash back offers built into them. Often if you use the app to complete an online purchase, you can score between 1.5% and 3% in extra cash back.

Price.com is pretty much the best for cash back. Nearly every product you find has a cash back offer, and you can redeem cash back for debit cards, gift cards, electronic transfers, or donate it to over 200,000 charities. You can also link a credit card to your account and get cash back in store by activating the offer through your app. It's just icing on the cake when you're already buying something at the lowest price.

3. Set price alerts

Finally, these apps can come in handy if you miss a deal or have a price in mind that you're willing to pay. Many will let you set a price goal and will then notify you if a product's price drops below that threshold. This helps you keep an eye on prices and ensures that you don't miss a deal a second time.

Combine price comparison apps with credit card perks

One thing price comparison apps can't tell you is when a product will go on sale. You might buy an item at the lowest price now, but in two weeks it could be listed for an even cheaper price.

For this, I'd recommend a credit card that has price protection, like the Capital One Walmart Rewards® Mastercard®. The Capital One Walmart Rewards® Mastercard® reimburses you up to $250 per eligible item for price reductions that happen within 120 days of your purchase (for a maximum of four claims per year). Combine price protection with price comparison apps and you could help your personal finances survive the holidays.