Do you buy through cashback sites (Quidco/TCB) and if so, what do you with the cashback earnt?


(Benjamin Milsom) #1

Curious to know if many people tap into cashback sites to save on their purchases, and if so, what do you then do with the cashback e.g. put straight into savings (Lifetime ISA maybe), spend it etc


#2

I use top cashback and I spend some and save some that’s how much I’ve earned just over a year so far, I always use them for everything


(Benjamin Milsom) #3

Woah nice! How long has it taken you to earn that much? Do you have a savings goal?


(Micky) #4

Nah I don’t bother with them. The purchases I make are normally using iOS apps which don’t work with cashback sites as they need to redirect you to the sellers website. I’ve tried using them in the past but the effort to reward ratio wasn’t worth it for me


#5

It’s a great way or getting something back for what you was going to do anyway. But the smart way is to look around and not just assume you get the best deal.

For example my pet insurance last year was £68 Cashback was £62 so it cost me £6 to insure my cat. I could have got insurance from Direct Line for £53, but the way I see it, I paid a bit more, but got it substantially cheaper.

You have to be smart though, clear cookies and temporary internet files before shopping, but that extra 10 seconds means its likely to track so you will get the cashback.

topcashback


(Benjamin Milsom) #6

So it’s more of a user experience issue more than the value prop? If mobile worked well would you use cashback sites?


(Micky) #7

I’m just not a fan of having to shop around for something I want, to then have to look around on various cashback sites to see if there is a deal for it


#9

I’ve started to use a cashback site and also a cashback/rewards site provided by my employer. The employer site offers discount from supermarkets too, in the form of reloadable gift cards. Taken all together we’ve saved or got cashback of £242 so far this year. Most of it’s in reloadable card discount (5% on Tesco and Sainsbury’s) and on booking hotels for holidays. I’ve spent years ignoring this sort of stuff, now I’m totally gobsmacked at how much you can save. I’d only ever use them if I was going to buy from a particular place though. I’ll let any cashback accrue and bung it in my Monzo holiday pot.


(Splodf) #10

It is amazing how quickly it adds up.

My issue is I’m too lazy to do the extra few steps and thus I just forget to do it!

I’m still clinging onto the hope that Monzo manages to pull something together to make this totally frictionless using my Monzo card.


#11

I’ve made a few quid out of using Topcashback on insurance and broadband swaps. It’s nice when the cashback comes in. I just chuck it in my man cave account for a rainy day. I realise that for some, using cashback sites is just too troublesome or time consuming, but when I get 70 quid back just for clicking through the right link, then it’s all worth it.


((╯°□°)╯︵ ┻━┻) #12

I’ve just done this.

Being a cashback newbie there was a cracking deal on a Three sim only contract and on top of that there was £70 cash back! :open_mouth:

Only downside is I’ve just found out that it takes 6 months to be paid :roll_eyes:


#13

On the cashback deals I’ve had, I’ve generally been paid the cashback within 4 weeks, so you might be lucky and get your money sooner.


((╯°□°)╯︵ ┻━┻) #14

I looked in quidco FAQs and it says that it takes this long as they like to make sure you’ve paid a few months of your contact. This is so they know you’re legit and not going to cancel once you’ve earned the cash back.

Like you said though just a month would suffice because I can’t cancel then without incurring fees.


#15

Ah, I see, I’ve never used Quidco, so haven’t had experience of their cashback policy.


(Michael) #16

First time user of Quidco. Just booked a hotel through it and got £55 cashback. Might stick to using this.


#17

I use Quidco. Earned about £400 last year, I mainly use it for bigger stuff like contract renewals. I put it in a LISA to boost it all by 25%.

I also put in the money I get from bank account switches, credit card cashback, and the occasional matched betting I do. Just under £1000 last year, with bonus £1,250 :smile:


(Benjamin Milsom) #18

Thanks for all of your comments @michaelw90 @Codf @breville_monkey @Topsy2 @Ordog RE.

This is exactly why we started Homewards. We recognise that there is so much value out there that many people aren’t tapping into. It is after all “free money”.

We really hope by focusing on one goal, buying a home, that we can get the family involved too, at little/no cost to them. Imagine if your parents/grandparents were switching to a better phone/utility/insurance provider and getting you £70+ each time. Put that straight into a Lifetime ISA and it really starts to make a difference.

Curiously, of those tagged, how many of you have a Help to Buy/Lifetime ISA?

Thanks,

Ben


#19

As mentioned I have a LISA, but only for this money. Wouldn’t make sense for me to have it for anything else, it’s more efficient to save into my workplace pension.


#20

From my perspective, Help to Buy not applicable, almost mortgage free. No Lifetime ISA, indeed, no ISA’s of any kind, not something that personally interests me at this stage of life. Pension, totally sorted and I’m still working, though quite why, I have absolutely no idea :face_with_raised_eyebrow:


(Splodf) #21

I have neither. I’m a homeowner.