Ever gotten something at rock-bottom price? When you are shopping, wouldn’t it be nice to get money back on your purchases? It sure is nice to not only get the lowest price possible, but to also get cash back. It feels great to know that you paid next to nothing!
If you are not already doing this, then I’d like to share with you a shopping strategy for not only paying the lowest price possible, but also getting cash back on purchases. It is super easy to do. Whether shopping online or in-store, getting cash back means more savings! This is my technique:
Additionally, retailers often have special promotions and additional discounts offered exclusively to subscribers. This way, I shop at a time when the item has the lowest price listed.
I sign up with shopping portals. A shopping portal is a website that gives users cash back when shopping through their website.
Think of it as a website that is a giant online shopping mall. For example, when you walk into a mall, you go through one door, and inside are several stores. You then head to the store where you want to purchase something, get what you need, then pay, and walk out. So instead of walking into the mall, you go online, and head to the shopping portal site, and from there choose the store you want to buy something from.
Shopping portals partner with retailers which offer consumers either cashback, miles or points or other type of rewards on your purchases. In addition to the offers from retailers, shopping portals will also offer specials of their own. For example, you can earn X amount of points or cashback for spending X amount of dollars. Here is an example from Swagbucks:
There are several types of shopping portals: Airlines, which offer miles; credit card companies, which offer points, cashback or gift cards, and cashback websites, where you earn a percentage cash back on your total purchase. I usually use cashback websites because I prefer cash back. Since I’ve been doing this for a while, I’ve noticed that Topcashback.com, Mr. Rebates and Rakuten (formerly Ebates) have the most stores, and tend to offer the highest amount of cashback for my shopping. Ibotta is also a retailer shopping portal, but their cashback is not as high. However, sometimes they offer a bonus for shopping online, and when it does, it boosts your cashback payout.
I use a credit card that offers cash back. There are several credit cards that pay cash back on every purchase you make. Check your wallet. Does your credit card offer a rewards program? How much does your cash back credit card offer?
Most credit cards give 1% cash back on all your purchase, others give different amounts of cash back depending on your purchase. For example, you may get 2% cash back when you use the credit card at gasoline stations and 1% when you use it at retail stores. I use the credit card that is offering the highest amount of cash back for the category I am buying. Typically, I use Chase Freedom credit card, and take advantage of their quarterly 5% additional cashback bonus program.
Every quarter Chase rotates categories which pay 5% additional cashback rewards. This card doesn’t charge an annual fees, so it doesn’t eat up my savings either. (Plus they have a current promotion of $150 cashback, more details about it here).
The key to saving with a credit card is to use one that has the highest cash back amount. If you prefer mileage, points or another type of reward, make sure you are getting th moste best of your rewards.
Most merchandise go on sale for several reasons. Prices tend to drop at the end of seasons, due to overstock merchandise, when new models either come out or after new models hit the shelves. In most cases, price may or may not drop in the future. Most retailers have a price drop policy where you’ll get the difference back if the price drops within a certain period of time. This policy varies by merchant.
If you notice that a recent purchase drops in price, all you have to do is take your receipt to customer service, along with proof that the price dropped and request a refund. Proof could be the store’s flyer for example.
This is also a service that select credit cards offer too. Check what’s in your wallet and read up on your credit card’s benefits. You can also browse for credit cards that may have a price protection policy.
Say, I am going to buy wireless headphones as a gift for someone. I will be avoiding the holiday crowd at the stores by shopping online from the comfort of my couch. I saw the headphones I want at Staples. Currently, there are no sales posted for the wireless headphones I want, but I know there will be. Instead of going directly to the Staples website, I log in to a shopping portal. Currently Mr. Rebates offers the highest rate cashback when shopping online at Walmart.
So I log in to Mr. Rebates shopping portal, and from there, search for Staples. The site will then show me how much cashback I can earn when I buy something at Staples, and I then click on ‘Shop Now’ link which will direct me to the Staples website.
I simply shop as normal, and pay with cashback rewards credit card or Fluz. That’s it! I’ll get cashback from shopping through the Mr. Rebate portal. After Christmas, the price of the headphones will drop, and I will get the price difference (either through the merchant price drop policy or my credit card). Additionally, i’ll also get cash back from the credit or Fluz.
See how easy it is?
This saving strategy is fantastic to use, specially around any major holiday shopping events like – Black Friday, Christmas, Labor Day, While Sale – you name it.
Tip: TopCashback runs a lot of specials, offering freebies for new members. Click here to see their latest promotion and snag a freebie!
I am always looking for ways to save, and I love sharing my money saving strategies! Hope this helps you save.