Six Ways to Make Money with Cashback Sites

Six Ways to Make Money with Cashback Sites

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In this post last year I discussed cashback sites and how you can save money on your shopping by using them. Today I want to go a step further and show how you can make money from them too.

I’ll be revealing six different strategies you can use to make money via cashback sites, and specifically Quidco and Top Cashback, the Big Two in the UK.  Do just bear in mind that offers on these sites change frequently, so I can’t promise that all those mentioned below will still be available when you read this – but others (possibly even better) will undoubtedly have appeared as well.

Let’s get started then…

(1) Free Offers

Both Quidco and Top Cashback list offers where you can make money simply by asking for a quote or performing some other action.

For example, on Quidco you can get 50p at the time of writing just for ordering a free SIM card from GiffGaff and £6 for activating it – while on Top Cashback you can get £2.30 by requesting a quote for your car insurance from Confused.com.

To find free offers on Quidco, click on Offers in the main menu, then click on the Free Cashback tab. On Top Cashback free offers can be accessed on the right of the main menu, under the Free Money tab.

(2) Cashback Arbitrage

This is my name for offers where you get more cashback than you actually spend with the retailer, giving a guaranteed profit overall.

This type of offer is mainly the province of online bingo and gambling sites. They clearly hope that once you’ve joined you’ll carry on playing even after you have met the minimum requirement for cashback. So if you think you might be drawn into gambling, you may prefer to give these offers a miss.

Nonetheless, there are some great, guaranteed money-making opportunities out there if you apply them correctly. For example, if you join Gala Bingo via Quidco and deposit and wager £10, you will get £60 cashback. That’s £50 clear profit, and more if you make any money from your wagering.

Top Cashback have a range of offers, including £20 cashback if you deposit and bet £10 on the Betfair betting exchange (new customers only).

(3) Utilities and Comparison Sites

If you’re thinking of switching your energy or telecoms supplier, there is free money to be made on cashback sites.

Both Quidco and Top Cashback list comparison services who will pay cashback if you switch suppliers through them. For example, if you join uSwitch via Quidco and change energy supplier through them, you will currently get £15 cashback for a single fuel and £36 (recently increased from £30) for duel fuel.

Alternatively, if you know the supplier you want to switch to, you may be able to get cashback from them. On Top Cashback you can get up to £100 if you switch to a duel fuel deal with npower, or £68.25 with British Gas.

There are also some great cashback offers if you want to switch telecoms/broadband provider. For example, on Top Cashback, BT Broadband are currently offering new customers up to £175 cashback if they sign up for their broadband, phone and TV service.

(4) Financial Services

You can also get free money by applying for a credit card through a cashback site or starting an ISA or pension through them.

On Top Cashback you can currently get £52.50 cashback if you apply for a Tesco Premium credit card (and are accepted). Also on Top Cashback you can get up to £255 cashback if you sign up for an ISA (Individual Savings Account) with Scottish Friendly.

And on Quidco you can get £55 cashback if you transfer a pension of £2,000 or over to PensionBee, an online pension management service.

Clearly before applying for any financial product or service you should research it carefully and ensure it will meet your needs. Nobody should make financial decisions based solely on the cashback available. Nonetheless, if this is a service that meets your needs, you may as well grab the cashback too.

(5) Events and Promotions

Both Quidco and Top Cashback regularly run special events and promotions to encourage people to check out their offers, with prizes including cash and free draw entries.

The promotions typically tie in with times of year, e.g. Valentine’s Day, Halloween and Christmas. These are basically a bit of fun, but worth doing if you have the time, as they are free to enter.

(6) Introducing Others

Finally, you can make money by introducing friends and family to these sites. Offers change from time to time, but typically you are paid between £5 and £15 when someone joins via your link and earns cashback themselves. You may get more commission if you are a premium member. Disclosure: The links in this post are affiliate links, so if you click through and sign up with Quidco or Top Cashback, I will get a small commission.

In conclusion, I hope this post and my previous one have opened your eyes to the money-saving and money-making potential of cashback sites. Sign up to both sites today and start building your cashback over the coming weeks and months!



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SMI Change: What You Need to Know

Guest Post: SMI Change: What You Need to Know

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This is a guest post by Sara Williams, who blogs about debt and credit ratings at Debt Camel. She is also an adviser at Citizens Advice.

If you get government help with some of your mortgage costs, you should have heard that this help, known as Support for Mortgage Interest (SMI), is changing from April 2018. About half the people getting SMI are pensioners who get Pension Credit. Many of the rest are disabled.

At the moment the SMI help is given as a “benefit”. But from April 2018, it will only be given as a loan that is secured on your house, so it has to be repaid when the house is sold.

This may sound very worrying. And some people are saying that it isn’t being explained very well by Serco, the firm the DWP is using to try to persuade people to sign the new loan documentation.

With only 6 weeks to go until the change, less than 5% of the people getting SMI have agreed to the new loan. And for people who don’t agree, their SMI will stop in April. This could mean people getting into mortgage arrears and ultimately having their house repossessed.

Questions people ask about the SMI change

Hundreds of comments have been left on an article I wrote about this SMI change. Here are some of the questions people are asking:

How much help will I get?

The same as now. Whatever SMI is currently paid to your mortgage lender, the same amount will be paid after April if you agree to the new loan.

But I’ll need more money each month as interest is now being added to this new loan?

You don’t have to start repaying this new loan, or the interest on it until your house is sold. So on an everyday basis, you will be in the same position as you are now.

Will the interest rate on the new loan increase?

The interest on the will be fixed to the UK Gilt rate – at the start it will be 1.7%. This is the rate at which the UK government can borrow – it will always be cheaper than most mortgage rates.

The loan is from the government, you don’t need to worry that Serco will change these rules and charge you more.

Will there be a delay before it’s paid?

If you are already getting SMI, the switch to the loan will be seamless; there won’t be any months when you aren’t helped.

If you aren’t currently getting SMI, the same waiting period of 39 weeks will apply as now.

Can I repay it if I get a new job?

Yes, you can repay the loan, or part of it, at any time. But it may be better to overpay your mortgage if you have spare money, as your mortgage rate will probably be higher than the interest rate on the SMI loan.

What other options are there?

Some options include:

  • ask friends or family to help you with your mortgage costs – this isn’t possible for many people;
  • get a lodger – but this could reduce your other benefits so get advice from Citizens Advice before deciding to do this;
  • use up your savings – but most people won’t have much and using what you have could leave you unable to afford an emergency;
  • sell the house and downsize or rent. This is a big change. It may be a good idea if your house is too large or difficult for you to manage or you have an interest-only mortgage ending soon, but you need advice on how it will affect your benefits first.

Should you agree to this?

I don’t like the change. I think it’s unfair and if people lose their homes, it could cost the government more money than it is supposed to save,

But you should make a pragmatic decision based on whether you have any better alternatives. Don’t be swayed by feelings about unfairness or politics.

Complain to your MP if you feel it’s unfair – these changes were discussed in Parliament, but they didn’t get much attention at the time – but don’t reject this loan without a better option.

The loan is cheap. Unless there are relatives who could help you, most people won’t have a good alternative. If you aren’t sure, or you have detailed questions, e.g. about what you are being asked to sign and its implications, go to your local Citizens Advice and ask for advice about the proposed loan and your finances, benefits and any other debts.

 

Thank you very much to Sara for a concise and informative article about the SMI change, which is clearly likely to affect some readers of this blog. If that includes you, with the new system coming in after 5 April 2018, it’s important to get to grips with the change and decide what is the best course of action for you.

If you have any comments, as always, feel free to post them below.



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Guest Post: Top Tips for Picking Up a Bargain!

Guest Post: Top Tips for Picking Up a Bargain!

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Today I have a guest post for you from my fellow money blogger Vicky Eves.

Vicky loves nothing more than picking up a bargain, and in her article she shares some of her best tips and resources. Over to Vicky then…

 

I love a bargain. I mean, who doesn’t? Whether you are financially well off or not, why would you pay over the odds if you don’t need to? It’s not good financial sense. Buying second hand is also better for the environment so it’s a win-win. Here are my favourite places and ways of finding bargains.

Freecycle

I recently moved from a one bedroom flat to a three bedroom house. Much as I don’t want to fill my new place up completely, I knew it was going to be rather bare with only the belongings I already had.

Once the ball was rolling on my move I started planning and thinking. I would be using the third bedroom as a study or computer room. I had made do with my laptop on my knee for the last 12 years and I was so excited that I was going to have a study. I’d looked online and found a desk I really wanted. It was from Ikea and it wasn’t cheap, but as I’d never had a study before I built that expense into my budget.

A few weeks down the line, I was browsing Freecycle when I saw the EXACT desk I wanted. I thought it was too good to be true and that I would never get it (on Freecycle you have to be pretty quick off the mark as it is usually first come first served) but the owner still had it and was happy for me to take it. I went over there after work, and after putting all the seats down in the car and with the owner helping me take it apart I managed to squeeze it in. My move got held up so it was stored in pieces in the corner of my lounge for many months, but I am sat here now in my new house sat at my awesome FREE desk as I write this.

It is definitely worth bookmarking Freecycle and joining a few groups (it is done by area so you just find things that are close to you) and keeping an eye on it. I’ve got and given away other things via the site before but the desk is my favourite Freecycle item. Just remember that if you are meeting a stranger to purchase an item that you either go with someone else or that someone knows where you are – bad experiences are few and far between but it’s better to be safe than sorry.

Charity Shops

Such an obvious place to find a bargain – but how many of us actually go there when we are looking for specific items?

I regularly visited charity shops before I moved. I soon worked out which were cheaper and when each one would reduce or rotate their stock. I got some amazing bargains – including a little record player for my retro diner themed kitchen. Sometimes if you go in regularly you might get to know the staff and if they know you are looking for something specific or along a theme they will keep their eye out for you.

Car Boot Sales

Another obvious one, but do you ever go? I got so much awesome stuff at car boot sales over the summer before I moved. I found a big one near me that was every Sunday and I was there for a few weeks in a row. I’m still not convinced whether it’s better to get there early (to get the best things as soon as it is open) or later (when the sellers are getting bored and ready to go home and reduce things), but either way you can get some great things.

Don’t be afraid to haggle either. The first couple I went to, I was rubbish at it. They would say a price and I’d go “Wow, bargain” and just hand over the money. I know you won’t want to offend the seller, but they want rid of the stuff, so even if you just try £1 or 50p less than they’ve suggested and they meet you half way, the savings adds up!

Facebook Selling Groups and Shpock

Facebook selling groups are almost like online car boot sales, and Shpock even calls itself the “Car boot app”. With Facebook you join groups local to yourself and browse or search the items that people are selling. With Shpock you can search for the item and set a search radius.

You can still haggle online – negotiate with Facebook sellers via the messaging facility and Shpock is set up to haggle – you make an offer and they counter it until you find a price that works for you both. You would then arrange a mutually convenient place to pick up the item and make payment. Again, remember your safety when meeting people in person.

What If You Don’t Want Second Hand?

Whether you don’t want second hand items, or you just can’t find what you want via any of those methods, some of my favourite places to find bargains are outlet villages and clearance shops. Be sure to do your research online to make sure that the special offer or price is as special as they say, but if you know what you want and have a price in mind, you can really find some great deals.

Whilst technically second-hand, if you are on a budget or like a bargain, have you considered getting reconditioned items? They will have been pre-owned but they will have then been serviced or checked over and you will get some form of guarantee from the retailer. I know people with Dyson, Sony and Apple reconditioned items which they say are as good as new but they got for a fraction of the price! I’m definitely considering going down that route next time I need something electrical.

I’d love to hear about the bargains you’ve found. Please comment below, and pop on over to ibeatdebt.com for more money making and saving tips and articles.

 

Many thanks to Vicky for an eye-opening article. I would just like to add my recommendation to hers for reconditioned items. In the last few months I have bought a reconditioned digital radio and portable DVD player, both at around half the standard price for new products. Both were (to my eye anyway) indistinguishable from new and worked perfectly out of the box. In my experience that isn’t always the case when buying new from retailers or wholesalers.

As always, if you have any comments or questions about this post – for me or for Vicky – please do post them below.

Happy bargain hunting!



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How to Save Money on Everyday Purchases by Haggling

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In Britain we are notoriously poor at haggling. Yet if you always pay the advertised price, you are leaving thousands of pounds on the table. That is money that could potentially be used for many better purposes 🙂

Haggling (or bargaining if you like) is definitely not something to be reserved for souks and bazaars. It can work very well on the high street too.

Money-saving expert Martin Lewis recently conducted a survey on his Moneysaving Expert website and found that hagglers enjoyed over 60% success rates in some big-name stores. His top ten list with success rates for hagglers is as follows:

1. Carphone Warehouse – 77%
2. TK Maxx – 74%
3. John Lewis – 72%
4. Homebase – 68%
5. Tesco – 62%
6. B&Q – 60%
7. Currys/PC World – 59%
8. Debenhams – 55%
9. Clarks – 47%
10. Marks & Spencer – 39%

Those surprisingly high figures show that it is well worth trying for a discount. If you can get over your natural reticence, you may surprise yourself with the deals you are offered. In any event, it costs nothing to try!

Here are some top tips to get you started.

Tips for Haggling

  • Research your proposed purchase carefully beforehand. Find out as much as you can, including how much similar items are selling for at other stores and online. You can use shopping engines such as Kelkoo to compare prices on a wide range of consumer goods.
  • Have a maximum target price for your purchase and approach the haggle with this in mind. Be prepared to walk away if you don’t get the price you want. You can always try elsewhere.
  • Go at a quiet time rather than when a store is heaving with customers. A salesperson will be less inclined to spend time negotiating with you if they can see that there are lots of other willing buyers in the shop. Mid-morning on a weekday can be good.
  • Choose the right person to haggle with. The best is a supervisor or assistant manager, as they will have more discretion. The “big boss” may not be as good, though. He or she will be pressed for time and may not be so bothered about a single sale.
  • Take your time and try to build rapport. Don’t even talk about price for the first five minutes. Ask the salesperson a few questions to show you are genuinely interested in buying, and explain why you need the product in question. Tell them your name, and ask for theirs.
  • Never be aggressive when haggling. This will simply put the salesperson’s back up and make getting a deal less likely. A successful haggle is a bit like a seduction. It’s best done with a twinkle in the eye!
  • Look for flaws on items that may make them difficult to sell – a small dent on the side of a fridge, for example, or a mark (somewhere inconspicuous) on clothing. Even if you’re not a seasoned haggler, this is an easy opportunity to get money off.
  • Keep an eye out for items with prices ending with a 1, 7 or 8 (e.g. £72.08). These prices are generally applied to end-of-range products the store wants to get rid of, to make room for new stock. You should be able to get an extra discount on them without any problem.
  • Stock phrases can be useful if you’re nervous about haggling. “What’s the best price you can do on this?” is one popular option. “I like this but it’s over my budget. Can you do it for £80?” (or whatever is your target price) is another.
  • Haggling can work particularly well in independent stores. In such cases you will often be dealing with the owner, who clearly has more leeway than a sales assistant. If you give the impression you may become a regular customer, he/she is much more likely to cut you a deal.
  • But if you can’t get a discount, at least see if they will throw in something for free. If you’re buying a laptop, for example, ask if they will give you a wireless keyboard as well. It’s worth spending a little time beforehand looking round the store to see if there is a particular extra you would like.

Haggling Online

Although above I have referred mainly to haggling in stores, there are also opportunities to haggle on the internet.

One of the best is by using the “live chat” facility offered by many online stores. Don’t go straight in with a request for a discount, but ask a few questions first. You’re unlikely to get a massive saving this way, but you might be offered 10% off or a free bonus.

Another ploy worth trying when shopping online is the “abandoned shopping cart” trick. Put the product you want in your basket and proceed as far as the checkout, then simply close the page. The retailer will see what has happened and rather than lose the sale may get back to you with an offer or discount code.

Good luck with your haggling. Do leave a comment if you have any other tips to share or examples of successful haggles you have concluded yourself.



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Save Money and Make Money with Product Testing

Save Money and Make Money With Product Testing

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If you’re looking for an enjoyable sideline that can bring you both cash and freebies, product testing could tick all the boxes for you 😉

A growing number of companies now engage freelance reviewers to help them with product testing and development. This feedback is important to them to ensure they are producing things the public will want to buy, so they are happy to send out products free of charge to achieve this.

How It Works

Product-testing opportunities are generally advertised via company or agency websites.

The businesses concerned send out sample products free in exchange for honest reviews. Reviewers get to keep the products they are sent, and in some cases receive a fee as well. Fees may be paid in cash or gift vouchers.

The type of review required varies. In some cases you may be asked to complete a questionnaire, in others to upload a review to Amazon or some other retail site. There are also opportunities for people who have their own blog or website to get free products for reviewing on them.

Here are seven of the best product-testing websites to get you started.

Toluna

This is a paid surveys site, but they also offer free products for review. Once you have joined and signed in, go to the “Test Products” page under the “Community” tab and choose the item you want. If you are selected to provide a review, your product will be sent in the post.

Tesco Home Panels

Tesco Home Panels offer free products of all types from Tesco – anything from cat litter to clothing. You need to have a Tesco Clubcard to be accepted for this one. As well as keeping the products you review, you are credited with points which can be converted to £10 “Bonusbonds”. You can use these at a number of retailers (not only Tesco).

Boots Volunteer Testers

High street chemist’s Boots recruit people to test a variety of skin-care products, cosmetics and toiletries. As well as home-based testers nationwide, they require people to attend on-site sessions at their Product Evaluation Centre in Beeston, Nottingham. Payment for the latter is from £10 to £125. You need to live within 30 miles of Beeston to apply for these paid sessions.

Clicks Research

Clicks Research conducts product trials for a range of top brands, including Liz Earle, Sanctuary, Marks and Spencer and The Body Shop. They also run surveys. You get Clicks points for completing these, typically 25 to 200 per survey. Once you’ve earned 2,500 points, you can exchange them for £25 cash.

As well as the Clicks Research main panel, you can apply to join their “Sensory Panel”. This involves taking a short online training course. You can then join their on-site food-hall trials and focus groups. You get to enjoy free products on the day with these and a cash reward too.

Savvy Circle

Savvy Circle is a product testing site for Proctor and Gamble products, including food, health, cleaning and laundry products, cosmetics, and so forth.

This site works a little differently in that as well as giving feedback on products, you’re expected to mention them in everyday conversation and online. The site awards stars each time you contribute to a “campaign”, e.g. by submitting a report on a chat you had with a friend or commenting on a blog. The more stars you get, the more freebies you’re awarded.

I-say

This is another survey site that also dishes out freebies. Register to complete surveys and you’ll occasionally receive invitations to take part in product trials. It’s worth signing up for the surveys anyway, as you’re awarded points for doing them that are converted to Amazon vouchers. You get points for taking surveys on the free products you receive too.

Amazon Vine

Amazon Vine is the product testing arm of the world’s favourite online store. As a “Vine Voice” you get to choose from a selection of products on sale at Amazon. All you have to do is test and review the products on Amazon and you can keep them.

The one drawback with Amazon Vine is that you can’t apply for it. You have to wait for an invitation to arrive. You can improve your chances of this happening by regularly leaving good-quality reviews of things you buy at Amazon.

I have been a Vine Voice for several years now and highly recommend it. As I said in this blog post, as a member I have received some great freebies, including an expensive memoryfoam mattress, a lawn-mower and a £1000 gaming laptop. So it really is worth making an effort to get into this if you can. Once you are accepted, as long as you review the items you receive, the freebies will keep on coming for as long as you want them.

More Top Tips

As mentioned earlier, if you have a blog or website you may be able to get free products in exchange for agreeing to review them on your site. You may also be able to earn extra fees by including an affiliate link to the business concerned, e.g. via the Awin affiliate marketing platform.

One thing you aren’t normally allowed to do is sell on the freebies you receive. Amazon in particular are very strict about this and will terminate your Vine membership if they discover you are doing it.

You can also make money testing company websites and reporting back on them (although of course you don’t get to keep the websites!). Two sites to check out for this (both of which I have mentioned on PAS before) are What Users Do and People For Research.

As ever, if you have any comments or queries about this post – or any other product testing websites you recommend – please do leave them below.



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