With inflation rates above seven per cent, a record high in more than three decades, many are looking to save wherever they can.

Finance Expert at One Big Switch, Joel Gibson joined Oly Peterson on Perth Live to answer the question – are reward schemes worth it?

Joel told Oly if you like to shop around then you aren’t going to reap the benefits often in bonus points – it does come down to loyalty.

“I am a ruthlessly disloyal [shopper]…” he joked.

“But a lot of people get a lot of value out of rewards schemes because they go all in,” he said. ”

Click PLAY below to hear the full conversation.