With the recent spike in the cost of living, more and more people are looking for ways to increase their income and save money. At the moment, we are living in a world where COVID is still a threat to many, and big bills such as energy and petrol bills, are consistently rising. If you’ve noticed that you’re struggling more than usual lately, it’s likely that you will have asked yourself whether or not you could be saving money here, and cutting costs over there.
Today, we’re talking about cashback providers and asking the question: are you wasting hundreds of pounds by not using cashback websites? Let’s take a look at the types of deals cashback websites can offer and how to use them efficiently.
What are cashback websites and how can they help you financially?
Many people are aware of cashback websites and apps, but not familiar with the way in which they work. To put it simply, by using cashback providers, you are being paid to shop. Cashback websites such as TopCashback and Quidco are paid by retailers to refer businesses to them.
The cashback websites receive a commission from anyone who uses their website to purchase something via the retailer, and a part of that commission is then paid out to you – the user. These cashback websites are also paid by big-name retailers to advertise on their websites, therefore there are brilliant big-name retailers that are listed on these sites, just waiting for you to shop with them.
How can I save hundreds of pounds by using cashback websites and apps?
Well, the answer to this is simple: you shop online as you would normally, except you click through to the retailer via your cashback website’s link. This all sounds too good to be true – money for nothing, right? Well, as we’ve just discovered, the retailers and cashback sites work alongside one another to increase business and revenue, therefore all you have to do is take advantage of these tools as much as you can.
But what types of retailers are signed up to these cashback websites?
You will be surprised by the number of retailers that have signed up to cashback websites such as TopCashback and Quidco! There are over 4,600 retailers signed up with these cashback websites, and according to recent figures, Quidco have stated that the average user earns around £300 per year thanks to their services.
There’s more to cashback than simply buying your online groceries. Have a look at just some of the ways you can save money by using cashback websites.
- Switching energy providers through cashback websites can save you hundreds of pounds.
- Using cashback websites to help choose a cheaper mobile phone provider can also add to your savings pot.
- Need to book an MOT? Head to your cashback websites first and look around for the best deal.
- Looking for gifts online? Cashback websites have lots of gift retailers listed on their websites, so always have a look here before finalising your purchase.
- Need to get some new clothes? Cashback websites are the first places you should look if you want a great deal.
- In need of new tech? Using a cashback website is extremely advantageous when making big-ticket purchases. After all, the higher the value of your transaction, the higher your reward will be.
- Order your next takeaway through your favourite cashback website.
How to sign up for cashback websites.
Signing up to cashback websites such as TopCashback and Quidco is free. All you need to provide are basic account details such as your email and a password. From there, the world is your oyster. You can use the search functions to sort results by the highest percentage of cashback or search for a specific retailer.
It’s likely you’ll find the same retailer listed on various cashback websites, therefore it’s a good idea to compare the cashback percentages on all sites before committing to your purchase.
When using cashback websites, it’s important to be consistent.
When looking for ways to save money, or to gain a little extra income, it’s important that you remain consistent; this definitely applies to cashback websites and apps.
When using a cashback website, you will earn a percentage of your purchase back as cashback. This cash amount will be added to your account and you will then be able to withdraw this back into your bank account. Although using cashback sites won’t instantly give you a discount on your final price, you will still be saving money as you will receive a small part of your payment back once the retailer has verified the purchase.
Consistency is key when it comes to using cashback sites as the more you use them, the higher your total balance will become. Some cashback websites and apps have a cashout limit of £5 or higher, so in order to gain access to your savings, you will need to reach this threshold before withdrawing.
New customers versus old customers.
Be aware that the best deals are often assigned to users that are new customers to the retailer’s site. For example, you might get 10% back from your first online shopping order with Tesco, but only a 2% return if you’re an existing customer. This is one of the reasons that it’s so important to remain consistent.
Are you wasting hundreds of pounds each year by not using cashback websites?
The short answer is YES! By not using cashback websites, you are missing out on hundreds of pounds landing in your bank account each year. To make the most out of cashback websites, make sure to use them consistently, even if you’re a returning customer. Don’t forget that cashback websites and apps are for more than just your grocery shopping, there are plenty of retailers listed on cashback websites, from car garages to big-name technology brands.
