Earn money while you are spending it!
By Kelly Henderson (follow Kelly on Twitter: @kellythekiwi)
Cashback websites offer you a cash reward for purchasing items and/or services by going through their website first. If you are a regular online shopper then it is worth looking into as you could earn big money.
How does it work?
If you sign up with a cashback site such as Top CashBack, Quidco, Swagbucks, and you will see a list of retailers and the amount of cash that you can get back by shopping with them. Click on the link and do your shopping as normal, your visit will be tracked and you will be rewarded depending on how much you have spent. Work out which payment method suits you best – options include cheque, bank transfer or via a PayPal account.
How much can I earn?
The biggest pay-outs tend to come from services such as insurance policies or gas and electricity providers. Retail sites normally offer smaller amounts (normally 10% or less) but you can often find good deals if you are in the hunt for a new mobile phone or a holiday bargain. For example, check out the story of a couple who made £300 in a few clicks.
Some past examples are:
£157.50 cashback if you take out a 24 month contract with an iphone 5s
15.75% cashback if you treat your Mum to flowers from iflorist this Mother’s Day
4.2% cashback if you buy a new HP laptop online
What do I need to watch out for?
#1 The top UK cashback sites are free – do not sign up to one that charges you!
#2 Make sure you are actually getting a deal! There is no reward in getting £75 cashback on a mobile phone that was £100 cheaper on another site.
#3 Watch your cookies. Before you start purchasing through a cashback site, clear all traces of history that you have with the retailers directly – otherwise you will not get paid!
#4 Payments can take up to 4 months to go into your account, and sometimes you will not get paid at all – if you stick with the bigger sites then you are less likely to run into any problems.
#5 Take your money out of the cashback account as soon as you have reached the payment threshold. If you keep it stored on the site and the company folds you will not receive the money you have earned.
If you are an avid online shopper, or looking at changing your service providers then going through a cashback website can earn you some big pounds. Any money back is better than no money back at all!
Cashback mobile apps
Top 5 UK Cashback Websites to follow on Twitter
Share your Tips with Kelly at kelly (@) brokeinlondon.com.
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