If you’re anything like me you know the benefits of saving, investing and making your money work for you. You want to get cashback.
I mean, we hear it all the time; grow your money, let your money do what it do, have multiple streams of income etc. Although these many key sayings passed around the block, is all fine and dandy; but doesn’t that mean I need to have some form of money to use as a base and to make it grow? Since money doesn’t grow on trees, logic tells me that I need to make more and spend less. By doing this, I then have a better chance of gaining the money to invest.
Making more may not always be so easy but spending less is definitely within our reach. In 2019 there are so many tools that technology provides for us in this millennial driven generation to take advantage of. The effortless use of so many get cashback apps can slowly give one the leverage needed to save money and reapply it to long term wealth. In an article written 2017 by Tracy Jan of the Washington Post “White families have nearly 10 times the net worth of black families and the gap is growing”. This MUST change! How? Well one way is to simply save more to invest more, spending less as gains to grow wealth.
Table of contents
- Get cashback and stack
- Cashback apps and how they work
- Four ways to get cashback
- Get cashback with Dosh app
- Ibotta
- Drop
- Pei
- E-bates
- Shopkick
- Fetch Reward
- Checkout 51
- Saving star
- Others
- Tips on how to maximize your cashback rewards
- Conclusion
Get Cashback and stack!
The best savers can cut fifty cents off a few purchases daily and although to the simple eye, that may not seem like a lot. But eventually, all those small rebates start adding up into real cash. People who thrive from saving and building a nest for wealth, want to get the most out of every dollar possible. They know that buying things on sale or looking for rebates means more money in their bank and net worth.
Cashback apps are used by millions of people daily as a tool to save and earn money for their regular spending. Ironic right! Earn money by spending money. Cashback apps return small amounts of money to consumers when they purchase things using the app, with a card on file, upload receipts, or meet some other requirement. They reward users for being loyal to their favorite stores and/or brands. Some are known to be greater than others but here at the top apps I recommend for use.
Cashback apps and how they work
Though cashback and coupons apps are both great ways, you can be able to save money, just that they work a little differently. With coupons, you can save money before you checkout. With cashback apps, you will earn cash rewards either cash, a check or even gift cards. After you must have purchased something. Some of these shopping apps will allow you to earn cash back in stores. While others will allow you to earn cash back online.
If you shop in store, here’s how these apps work generally:
- First, you will download the app, and create an account.
- Find where you shop, and see what cashback offers you can find.
- After you checkout, claim your cashback rewards by simply taking a picture of your receipt and/or scan the items’ barcodes.
- If you use an app that do offer online cashback deals, it’s even more easier. Simply open the app or web browser, choose your go to retailer and then shop its site through the portal.
Now, you may be wondering how these apps will just give out cash. Basically retailers and brands do offer a referral commission to these apps, so each time you buy a product, the app will get a portion of the money. Then, the app will then pass part of the commission over to you.
Four ways to get cashback
To get paid to shop looks like a strange idea, but actually that’s what cashback is. Whether it is through your credit card or via an app on your smartphone. It’s still possible to claw back a little of your spending each time you make a purchase.
Well, it’s not free money though. Cashback is just offered as an enticement to make you spend more, and possibly on things you may not have bought in the first place. Plus you may be able to find what you need cheaper without cashback if you buy else where. But if you plan on buying something anyway, and understand the pros and cons of each method. It’s a fantastic way you can easily boost your income.
Let’s consider the four major ways to earn cashback:
Credit cards
You will need to apply for a specialist cashback credit card. But if accepted you will normally get between some percentage in cashback on each full dollar you spend. Normally cashback is paid annually, or as points you will be able to exchange for a reward, often vouchers.
Each credit card works in various ways. Some will give the same rate on everything you purchase, while others will only give you money back on particular purchases.
Many equally come with a fee. So it’s worth working out if you can earn enough cashback to be able to cover this. The important thing to understand is they’re only a good idea if you will pay the balance off in full every month. Any interest charged will nullify any benefits from cashback. Plus if you think having a credit card will make you to be spending more. It will be better for you to stick to the ways you currently pay.
Bank accounts
There are a few current accounts that will give you cashback, that’s between 1% and 3% on your household bills. They come with a fee, so you need to check how much you will likely earn in cashback to see if it’s worthwhile. Some other current accounts equally offer bonus cashback particularly to chosen stores and restaurants. Normally you will need to activate these offers.
Cashback websites
There are a few sites which act as the middle man between you and online retailers, and in return they will give you a cut of the commission. This could be a couple of percent when you buy some clothes or book a hotel, to hundreds of dollars for opening a new mobile phone contract.
The major issue here is that the money isn’t guaranteed. So don’t purchase something through cashback sites based solely on the extra cash you’ll earn. Until you see the money is in your account, don’t spend it. However, if you are able to follow the instructions on the website carefully you will be able to build up a reasonable amount quickly.
Utility switching
To switch your energy, phone, broadband and TV services will often save you money. And you may sometimes make a little extra by taking a look at cashback. When you are able to use a comparison site, it’s important to make sure you.choose a provider that will works for your needs.
Get Cashback with Dosh App
The most popular app in this market, Dosh gives you actual cash back via PayPal (that’s right, not just reward points!) for visiting restaurants or buying things online. With an initial gift of $5 when you start, as soon as you earn $15 or more you can cash out! Need some printer paper or office materials? Head to staples and earn 3% cash back. Need to get household supplies? Head to Sam’s club for 2% cash back. Bed Bath and Beyond, Denny’s Pizza Hut, Forever 21, Journey’s, Pier One, Sephora and the list goes on and on.
Is your favorite restaurant on the list? Indulge yourself. Even if it’s not, try one of those places on Dosh and you might just find yourself with a new favorite spot. Dosh is one of the greatest that give cash for stuff that a consumer already buys, without asking them to go out of their way to try something new. Connect your card, dine out and cash out. It really is that easy. Refer a friend and get even more money back. Who doesn’t have friends? Even if they are only social media stalkers.
This app is definately a must…sign up here.
Ibotta
When you find yourself grocery shopping every other day, you’ll need Ibotta in your back pocket. Just download the app, claim cashback offers and then take a photo of your receipt. It with pair with some major grocery stores and chains. This include CVS, Publix, Kroger, Sam’s Club, Target and Walmart.
Pros: The Ibotta app is very easy to get the hang of. Plus, you will be able to find cashback offers for any item and any brand which will allow for more earning opportunities. It is equally more than a grocery app; you will earn cashback from online stores, too.
Cons: Just like other cashback apps, it is very easy to get wrapped up into purchasing the promoted products that will offer you more money back.
Payment method: Immediately you create an Ibotta account and earn $20. There’s ash out via PayPal, Venmo or gift cards to popular retailers such as Amazon, Target and Walmart.
Available on iOS and Android.
Signup bonus: Snag a $20 signup bonus after you must have redeemed 10 offers within 14 days of creating your account.
Drop
Like other cashback apps, you link your credit cards to Drop and then you earn points that you can redeem for gift cards. 1,000 points are worth $1. It’s not a ton of money, but again, it’s money you’re earning for the money you’re already spending anyway. It’s easy. You sign up. You pick a handful of stores. And you earn points for shopping with the stores you chose.
Pros: It is automatic. To be able to earn with Drop, just shop with your connected credit or debit card. Plus, you will be able to earn cash back on your entire buying. In addition, find cashback offers for online buy through the mobile app.
Cons: When you sign up with Drop, you’ll choose five favorite shops to be your power offers. A few options will include Trader Joe’s, Uber, Whole Foods and Starbucks. You will earn rewards back each time you shop at these brands online or instore . Once selected, you won’t be able to change the offers, so decide wisely where you will spend the most money.
Available on iOS and Android.
Pei
Pei is one of the newer cashback apps that works very similar to Dosh and Drop. As both of those mentioned all you have to do is link your credit cards to Pei, and then Pei gives you a certain percentage of cashback at participating restaurants and stores. What’s interesting is that Pei seems to have a lot of national retailers so you have a lot more opportunities to earn cashback on your everyday spend. Pei is the first app to give automatic cashback rewards in cryptocurrency. For those that don’t know, Bitcoin is a type of digital currency that operates independently of a central bank. You can use Bitcoin as cash to complete transactions, or you can sell your Bitcoin to someone else for cash or exchange them to your local currency. Thereby building for yourself a nest for wealth.
E-bates
Ebates- Ebates is primary app that all those with a phone and debit card should have. With Ebates you get cashback on just about any purchase you make online – normally around 2-5%, but often more depending on the store you shopped and the time of year. A Google Chrome Extension, it is a quick set up and once done, it will automatically let you know when your on a website that offers cash back.You get paid by Ebates once every quarter, so it can be seen as a small bonus when your check arrives in the mail.
Shopkick
Shopkick is quite different from the other popular apps. You don’t have to buy anything before you start to earn any point. Just walk into any store and scan the items’ barcodes. Of course, you be able to earn more points when you buy with a connected card. Both online or in shop or just snap photos of qualifying receipts.
Pros: Because you are able to earn points just for just walking into stores and scanning the items’ barcodes. You won’t be in any temptation to overspend with the Shopkick app. You will equally earn kicks when you shop online.
Cons: There are so many ways to earn points. It will take a couple of weeks for you to get in the habit of using Shopkick when you run errands.
Payment method: The exchange of points for gift cards to popular retailers. This include Amazon, Best Buy, Target and Walmart. With 500 kicks, you will snag a $2 gift card.
Available on iOS and Android.
Fetch Rewards
The Fetch Rewards app is known to be the best for lazy savers. Or probably you’re too busy that you can’t even plan your next shopping trip. You will just squeeze them in anytime you five minutes to spare. With Fetch, you’ll be able to earn rewards by simply taking a photo of your receipt. Or, any receipt from any other grocery store.
Pros: Fetch is very easy to use. There’s no scanning barcodes or hunting down any particular brand. Unless you need bonus points. You will take a photo of literally any receipt from anhy grocery, convenience or club shop.
Cons: You must have to snap a photo of your receipt within 14 days of buying, so never you forget to do so! Basically you will just be throwing away free gift cards if you don’t.
Available on iOS and Android.
Signup bonus: You will have to enter code PENNY to earn 2,000 free points after you must have scanned your first receipt.
Checkout 51
If you know that you are not a shop loyalist and just shop wherever is more convenient. Checkout 51 is a perfect cashback option. Redeem the app’s cashback deals for particular products from any retailer unless the offer is specifying otherwise.
Pros: If you like to shop online, Checkout 51 will make it very easy to earn there, too. Just claim your offers by taking a photo of your packing slip. There’s no need to shop through a portal.
Cons: Checkout 51 will regularly updates its offers each Thursday. This will be great when you’re looking for new deals. However, the app do tend to focus on name brand items, so don’t forget to compare their prices. Generic or store brands may be more affordable without a rebate.
Payment method: Earn $20 back, and you will cash out for a check in the mail.
Available on iOS and Android.
Saving star
If you’re a shop loyalist, the Saving Star app will be your perfect match. This depend on where you are shopping with your store loyalty card. You may even connect it in order to earn automatic rebates.
Pros: If you are the type that do frequent CVS, Dollar General, Safeway or Winn-Dixie. afor you to scan your store card in order to link and activate your rebates. Then you’re done! Saving Star will take care of the rest. Otherwise, you will just scan your receipts to claim your rebates.
Cons: Some offers you will see, will expect you to buy in bulk, which might not convenient for you. For instance, you will spend $25 on Tidy Cat products in order get a $5 rebate.
Payment method: Once you are able to collect $20, transfer the money to your bank account, or cash out through PayPal. You can equally decide to donate your earnings to charity.
Available on desktop, iOS and Android.
Others
There are many other cashback apps that have the same concept but different methods. Some individuals may prefer Freebird, Wikibuy or Upromise but what’s important about them all is the ability to use the apps that will work best for you in order to maximize your cashback earnings. And don’t forget that many of them stack, so if you find two apps that offer cashback on the same store or restaurant, you’ve just doubled your cashback. This is one of the ways to build long term wealth for yourself.
Tips on how to maximize your cashback rewards
So now you understand: Cashback apps are a great way that you can be able to pocket extra cash. But you equally have to learn to use them responsibly. Sometimes it’s very easy to get caught up in the shininess of earning money back. Even when you spend unnecessarily.
To assist you use cashback apps responsibly, here are some of our tips:
Always read the offer’s fine print. Make sure you buy the correct brand and quantity. For instance, you may only earn $3 back if you buy a 32 ounce jar of peanut butter and not the 16 ounce one.
Before you buy any item to pocket the cashback, do compare prices of other brands. Equally take into consideration of any coupons. Some simple math will assist you to know what’s the best deal.
Learn how to deal with stack with your go to cashback app. For instance, when you use Ibotta, apply for any in store coupons to your buying first. Then you might still get your Ibotta cashback. Or if you’re buying online with Ebates, understand you may still apply promo codes to your shopping.
When you’re not sure which cashback app has the best deals for your most frequented retailers. Use a website like Cashback Monitor to conduct a quick comparison.
When you signing up for many of these cashback apps and websites. You’ll be automatically opt in to promotional emails from the app. Just go ahead and find that small unsubscribe button at the bottom of the email. That way you will never be tempted to spend unnecessarily.
If you find yourself buying items just because you’ll get cashback, then write up your shopping list. Fill up your cart, then see if any of the items you’re buying qualify for a cashback deal. Now you won’t be able to get suckered into purchasing a $5 container of fancy Icelandic yogurt just to get 50 cents back.
Conclusion
All of us have general necessities that we regularly spend for. So, even if your not a big baller that shops all over; these apps are definitely still worth a shot for cash back rewards on your essential shopping. Just think if you were to get 5% back on all the toilet paper, toothpaste, body wash that you buy on an annual basis…. could that possibly give you a pretty cent to invest in a better future and create another opportunity for wealth?
What other ways do you employ to stretch your dollar?