(Written by Kathryn Thompson in UK) This year has proven to be financially challenging for most of us parents, with the grocery bills growing increasingly larger but wages seemingly becoming smaller by comparison. It’s no wonder us parents have to look ‘outside the box’ at creative ways to earn extra income without taking extra jobs.
Enter the new wave of online rewards and cashback sites.
If you want to buy something online, or sign up to a financial product; rather than going direct, click to the company via a cash-back site and you get paid for the privilege.
There are several cash-back reward sites offering you the chance to earn while you spend, such as Rewardit. The amount of cash-back with Rewardit you can earn ranges from just a few cents, to hundreds of dollars for some insurance policies.
The site will require you to become a member, which should be free. If not, avoid it. Once you are registered, simply log in and check to see whether the retailer you want to purchase from is listed. If it is, simply click the link on the cash-back site to go to that online retailer.
Your visit is then tracked, using something called affiliate links. If you buy something, once it’s processed, an amount is put into your cash-back site account, which you can withdraw from once you reach a certain threshold.
Cash-back sites use the same technology as ‘comparison’ sites. They drive traffic by giving their users some of the money they’re paid.
Big cash-back sites also have direct relationships, which mean they can offer a vast range of providers, earn more or negotiate their own exclusive deals.
There are a couple of things to be aware of when using cashback sites:
- Remember that it is usually best to focus on the cheapest deal, rather than the best cash-back deal. It’s easy to be drawn into an expensive deal on the promise of £50 cashback, but this may not always work out to be financially beneficial.
- Clear your cookies – information stored on your PC that identifies you. The general rule is that the last cookie wins, so make sure you clear your cookies and then click through to the retailer from the cash-back site to make sure your purchase can be easily traced back to the cash-back site.
This article was written by Kathryn Thompson. Kathryn is an experienced blogger and mom to three daughters aged 12, 10 and 5.