I had this embarrassing moment last week. Standing in line at Tesco, watching the total climb on my weekly shop, when my friend Lisa leaned over and whispered, "You're not using Topcashback for that? Are you insane?"
Turns out I've been hemorrhaging cash for YEARS. Hundreds of pounds just... gone. And for what? The privilege of not spending an extra 30 seconds before shopping? God.
After spending a weekend falling down the cashback rabbit hole (and feeling increasingly stupid with each discovery), I've pulled together everything I've learned. Some of this stuff is obvious, some is weirdly under-the-radar.
The Old-School Cashback Sites (That Still Work Ridiculously Well)
Let's start with teh obvious ones - TopCashback and Quidco. These have been around forever, but I'm constantly shocked by how many people still don't use them. The average Quidco member makes about £300 a year. That's a weekend away, people!
The deals change constantly. Last Tuesday I was booking a hotel and noticed Quidco was offering 6% back on Hotels.com while TopCashback had this limited-time 12% deal. Double the money for literally the same booking! My husband thinks I'm slightly unhinged now because I screamed about this over dinner.
Liz Hunter from moneyexpert.com gave me this tip that changed everything: "Install the browser extensions for these sites. They automatically activate cashback when available, so you don't have to remember to do it yourself."
Just be careful which extensions you download - there are some dodgy fake ones that'll steal your data faster than my teenager empties the fridge.
Bank-Linked Apps That Feel Like Financial Sorcery
This was new to me. Apps like Cheddar and Airtime link directly to your bank account or card and automatically apply cashback when you shop at partner stores.
The magic part? Once you've set them up, they work without you lifting a finger. No need to remember to click through special links or scan receipts.
Cheddar deposits the money straight into your bank account. Airtime applies it to your phone bill instead (which saved me £43 last quarter).
The downside is they work with fewer retailers than the big cashback sites. But who cares? Use them all! I've got five different cashback systems running simultaneously now. My partner thinks I've joined some kind of financial cult. He's not entirely wrong.
Credit Cards That Pay You (If You're Not a Financial Disaster Like I Used to Be)
Back in 2018, I was drowning in credit card debt. Not a good time. Now that I'm more responsible (stop laughing, Dave), cashback credit cards are my new obsession.
These cards give you money back on purchases - either as statement credit or as points you can convert to vouchers, travel miles, etc.
The critical thing: PAY THEM OFF IN FULL EACH MONTH. Otherwise, the interest charges will eat your cashback faster than my dog devoured an entire roast chicken last Christmas (still haven't forgiven her).
Chase, American Express, Barclaycard and Santander all offer decent options. Just pick one that matches where you actually spend money. No point getting a card with great restaurant cashback if you never eat out.
The Gift Card Hack That Made Me Feel Like a Genius
This one's my favorite trick that nobody seems to know about.
You can buy e-gift cards through apps like Jam Doughnut and Hyperjar for places you're about to shop at anyway. You get instant cashback (usually 4-7%) and then use the card to pay for your shopping.
I literally stand in the checkout line at Sainsbury's, buy a £50 e-gift card on my phone, get £2.50 back instantly, then use the card to pay. Takes about 30 seconds.
Elizabeth Rivelli from bestmoney.com explains it better than me: "You buy a gift card for your favourite store, use it to shop as normal, and get instant cashback. It works for groceries, travel, entertainment—basically anything."
It's kinda like getting a permanent discount on everything. I've made adn extra £187 since January just from this trick alone.
Those Loyalty Cards You've Been Ignoring
Everybody knows about these, but most people don't maximize them. The Tesco Clubcard, Nectar, Co-op membership, Morrisons More, Lidl Plus, Superdrug Health & Beauty Card... I've got them all.
Listen. The key is looking for those bonus events. Sainsbury's had a triple Nectar points weekend last month and I practically moved in. My husband's response: "already updating my resume."
Most of these use apps now, so your wallet doesn't need to be stuffed with 50 plastic cards. Thank god.
Receipt-Scanning: The Weird Little Side Hustle
This one feels like getting paid to do nothing. Apps like Shopmium, SnapMyEats and GreenJinn let you scan receipts after shopping to get money back on specific products.
Sometimes it's a percentage back, sometimes it's the entire cost of the item. I got a free pack of fancy coffee last week just for buying it and scanning the receipt.
The trick is checking the apps BEFORE you shop to see what's eligible. I spent $4K renovating our bathroom last year and only afterward realized I could have gotten £75 back on some of the materials. I feel stupid now.
"I'm Going to New York Because I'm Obsessed with Cashback"
Ailsa Hichens from Essex is my new hero. This 53-year-old nutritional therapist has turned cashback into an art form.
Two years ago, she decided to take her daughter to New York for her 21st birthday. She got a British Airways American Express card and started putting EVERYTHING on it to collect Avios points.
Now they're flying to NYC - all paid for with points. "That really special trip would not be happening without me being fanatical about cashback," she told me.
She's claimed nearly £2,500 from TopCashback in just two years and often stacks methods - buying through cashback sites with her Avios card, then converting Nectar points to more Avios.
"You just have to get into the habit of it," she says. That's the secret - making it routine.
I've started doing the same thing for a trip to Italy next summer. My spreadsheet tracking all the cashback is getting... concerning. (Poor husband.)
The eBay Label Nightmare Nobody Warned You About
Quick warning if you sell on eBay - their new shipping label system is a mess.
Ed Thomas from St Leonards-on-Sea accidentally bought a £10 shipping label and didn't realize until 22 days later. When he tried to get a refund, eBay told him to contact Royal Mail, who then pointed him back to eBay.
Turns out eBay only lets you void labels within 14 days of purchase. After our team contacted them, they refunded Ed as a goodwill gesture.
But from April 15, this will be eBay's mandatory way of paying for shipping as a seller. So watch out!
Last Chance for ISA Top-ups!
If you've got an ISA, tonight's your deadline to use your annual allowance (11:59pm on April 5th). Miss it and you lose whatever portion of your £20,000 allowance you haven't used.
The best rates are usually from the smaller online banks rather than the big names. Check comparison sites like Which?, moneysavingexpert.com, or Compare the Market.
Fixed-rate ISAs offer better interest but lock your money away. Easy-access ISAs give you flexibility but lower rates.
If you've already got some cash savings, consider a Stocks and Shares ISA instead. As Myron Jobson from interactive investor points out: "While the value of investments can go up and down, history shows that stock markets tend to outperform cash over extended periods."
Just remember you can lose money with investments too... like my disastrous attempt to buy cryptocurrency in 2021. That's a story for another day.
Frequently Asked Questions
How can I start saving for retirement?
To start saving for retirement, begin by establishing clear retirement goals and determining how much you need to save. Contribute to employer-sponsored retirement plans, such as a 401(k), and consider opening an Individual Retirement Account (IRA). Regular contributions and taking advantage of compounding interest can significantly boost your retirement savings over time.
How can I improve my credit score?
To improve your credit score, make timely payments on all debts, reduce credit card balances, avoid opening unnecessary credit accounts, and regularly check your credit report for errors, disputing any inaccuracies. Maintaining a mix of credit types and keeping old accounts open can also be beneficial.
What is the difference between saving and investing?
Saving typically involves setting aside money in a secure account for short-term needs or emergencies, while investing involves using money to purchase assets like stocks or real estate with the expectation of generating a return over the long term. Investing carries higher risks but offers the potential for greater rewards.
What are the different types of money?
The main types of money include commodity money, which is based on physical goods like gold or silver; fiat money, which is government-issued currency not backed by a physical commodity; and digital currency, which exists electronically and is often decentralized, such as cryptocurrencies.
What is the importance of financial literacy?
Financial literacy is essential for making informed decisions about budgeting, saving, investing, and managing debt. It empowers individuals to understand financial concepts, evaluate risks, and navigate complex financial products, leading to better financial stability and long-term wealth building.
What is the definition of money?
Money is a medium of exchange that facilitates transactions for goods and services. It serves as a unit of account, a store of value, and a standard of deferred payment, allowing individuals to compare the value of diverse products and services.
What is the role of central banks in the economy?
Central banks manage a nation's currency, money supply, and interest rates. They implement monetary policy to control inflation, stabilize the currency, and foster economic growth. They also serve as lenders of last resort to the banking system during financial crises.
Statistics
- As of 2021, the average student loan debt for recent graduates was approximately $30,000, according to the Federal Reserve.
- According to the Bureau of Labor Statistics, the average American spends about $1,500 per year on coffee.
- According to a Gallup poll, 56% of Americans report that their financial situation is better than it was a year ago.
- In 2020, the average retirement savings for Americans aged 60 to 69 was approximately $195,000, according to Fidelity.
- The average cost of raising a child in the U.S. is estimated to be around $233,610, according to the U.S. Department of Agriculture.
- Research by the National Bureau of Economic Research found that individuals who receive financial education are 25% more likely to save than those who do not.
- A report by Bankrate indicated that only 29% of Americans have a written financial plan.
- As of 2021, the median household income in the U.S. was approximately $67,521, according to the U.S. Census Bureau.
External Links
How To
How To Develop a Good Saving Habit
Developing a good saving habit begins with setting clear financial goals. Determine what you are saving for, whether it’s an emergency fund, a vacation, or retirement. Start by automating your savings; set up a direct deposit from your paycheck into a savings account. Aim to save at least 20% of your income, gradually increasing this amount as you become comfortable. Track your spending to identify areas where you can cut back and redirect those funds to your savings. Regularly review your savings progress and adjust your contributions as necessary to stay motivated and achieve your goals.
Did you miss our previous article...
https://hellofaread.com/money/birmingham-shoppers-stunned-as-bm-vanishes-overnight-after-shopping-centre-disaster
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