Save Thousands By Exploiting The Power Of Cashback Shopping
Cashback websites are reasonably new, but have already been responsible for paying millions of pounds back to their members. Many of the large number of newer sites are to be avoided, but the older established sites are superb and I use them all the time. They are truly easy to use and put money back in your wallet for virtually no effort.
So How Does It Work?
Very simply. First you join a cashback site (they’re free to join, and you can find reviews of the best cashback shopping sites here). Then when you want to shop online, you make sure that you go to the cashback site first. You click the link for the online store you want there. That’s it. You still pay the same retailer as normal.
Where Does The Cashback Come From?
This is the good bit as everybody involved wins. The cashback shopping site gets paid a commission by the online shop. They share that money with you, normally giving you half of it. The shop gets a sale, the cashback shopping site gets commission, and you get cashback. And all for something you were going to buy anyway.
The key though is to always remember to use the cashback site to get to the shop you want to buy from.
Making The Most Cashback
To make the highest cashback ensure you put all of your regular buying through the cashback site - so if you buy groceries online check if the cashback site lists your supermarket. If you buy CD’s, DVD’s and books, use the tools at your cashback site to find the cheapest prices AND the largest cashback rate. Plan ahead and buy all your birthday and Christmas gifts online. And especially get online quotes for all the insurance policies you have as these tend to pay very big cashback amounts in addition to what could also be much lower premiums than you pay now.
I would suggest you join a couple of sites, to find out which one you like using the best. After all, it won’t cost you anything.
Top Tip For Extra Cashback
If you haven’t got one yet, get a cashback credit card too. You can find up to date reviews of the best cashback credit cards here. It can pay you back hundreds of pounds a year, and all you have to do is fill in the application form.
You will mostly find cashback rates are 0.5% to 1% (although you can get a stunning 5% at the moment with the american express platinum cashback card). So if you spend £100 on anything, and your card pays 1% cashback, you get £1 back. Not a fortune, but over the year it builds significantly. Especially when you ensure you buy things on your credit card that you might otherwise pay for with cash or debit card.
Will Everyone Benefit?
Only if you pay off your balance every month. If you carry over debt from month to month the interest charged will more than wipe out the cashback you earn. But if you do pay off your balance then 0% balance transfer offers and the like are useless to you, so get a cashback card instead.
Tags: Money Saving Tips