What is cashback?
This feels like the most obvious place to start with this post. Put simply, cashback is the term for a percentage of money you receive back when you purchase an item. The percentage can vary anywhere from less than 1% to as high as 20%, but I would say on average you are looking at around 5% from a cashback site.
So What is a Cashback Site?
Cashback is often associated with something like a cashback credit card but there are ways of receiving it without needing to have a credit card. You can simply create an account with a Cashback site and then shop through that platform to qualify your purchases. Your account is free and there really is no catch.
Open your account – click on the retailer you wish to shop with – the website will redirect you to that shop – shop as normal. Easy!
The money will usually take a bit of time to land in your account, but when it does you can withdraw it to your bank account, and that’s it. It’s a bit like getting a discount on your shopping, you just receive that discount in the form of money back after your purchase.
Who Should I Sign Up With?
When you google ‘best cashback sites’, the results can be overwhelming so I’ve narrowed it down to two of the best for you:
First up is Top Cashback, which is likely to be one of the ones you have heard of already. Top Cashback is ‘the UKs highest paying cashback site’, which kind of says everything you need to know. They have the highest rates for money back and if you want to you can also split your payouts between your bank account and gift cards which is a really handy feature. With over 5000 retailers listed on their site, you will be amazed how much money you can save.
When you sign up to Top Cashback using this link you will also receive a free £10 in your account – and who doesn’t love free money?
Once you are a member you can also take part in their refer a friend scheme which will mean you can earn up to £20 for each new customer you refer to them.
The second highest rated site is Quidco, their cashback rates are similar to Top Cashback (although they don’t have the ‘Highest Cashback Guarantee’), and they have 4500 retailers listed with them.
I also have a referral link that will qualify you for a free £10 with Quidco, just click here to use it.
With both Top Cashback and Quidco, you receive your free £10 once you have made qualifying purchases through the sites, it isn’t simply a payout on signing up. However threshold to receive the bonus isn’t very high and you will quickly qualify just by using the site and earning your money back.
I would personally recommend signing up with both of these sites, for a few reasons:
- It’s free, quick and easy to sign up with each so why wouldn’t you?
- If you sign up using my links to receive a free £10, that’s £20 free money rather than just £10
- They have different retailers on each site so you will be able to receive cashback on more purchases.
- You can then take part in both sites ‘refer a friend’ scheme to earn extra cash.
Not Just For Shopping
You can claim cashback on holidays, switching your bills, your phone and energy bills, insurance and so many more things as well as your regular online purchases. I’m excited to see how much I earn from this over the course of this year, and I’ll be sure to do another post in the future with an update.
One of my main focuses for this year is to be smarter with my money. I don’t want to have to spend less, I want to be able to maximize what I am spending, and shopping through cashback sites is such an excellent way of doing this. You could withdraw your cashback monthly to spend on extras for yourself and your family, or you could leave it in there to accumulate for expensive emergencies, holidays or occasions like Christmas and birthdays.
Follow me on Instagram for more tips on how to be smarter with your money this year.
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