Cashback at Christmas: How You Can Save

Cashback at Christmas

With the cost of living very much still impacting the way households in the UK spend their money, it’s no surprise that the most expensive time of year will be a significant worry. While many shoppers will be tempted to use forms of credit to fund their festivities, using Buy Now, Pay Later providers such as Klarna, Clearpay or PayPal Pay in 3, it can be easy to slip into a debt cycle if not paid off in time. 

One way you can try and get money back for your Christmas purchases is through using popular cashback websites such as TopCashback and Quidco. To learn more about how you can be savvy with your spending this Christmas, carry on reading!

What Are Cashback Sites?

Put simply, cashback websites offer you rewards, or ‘cash back’ for the items you have purchased through their site. This means that you can earn money back from your purchase, even though you’re paying the same price as you would do from purchasing directly from the retailer. Many big brands such as Amazon, ASOS, Curry’s and more are affiliated with cashback websites, giving you ample choices for your Christmas purchases. 

You will have to sign up to the cashback website, which is usually free of charge, but you’ll then be able to start shopping and saving pennies. All you’ll need to do is log into your account on the cashback website you’ve signed up for, and click the link through to the brand sites. You can also sometimes add it as an extension on your web browser, or click through via the cashback app if you prefer shopping that way.

This link is tracked through to your transaction on the retailer’s site, meaning that the purchase will be recorded through the cashback site, and a percentage of the purchase will be put into your account once it has been processed. The rate you will receive will depend on a number of factors, including the product purchased, amount paid and whether you’re a new or existing customer.

Why Do Cashback Websites Pay Out?

Cashback sites use a referral system, meaning that each time a cashback site sends people to shop on a retailer’s website and they make a purchase, the cashback site earns commission. Like mentioned above, some huge cashback sites have partnerships with big retailers which enables them to earn more and create more exclusive deals, in turn offering the sites more commission.

How Much Could I Save On Christmas By Using Cashback Websites?

As each Christmas shopper will be buying different items, there’s no real way of saying directly how much money you could save as it depends on how many items you’re buying, how much they cost and which cashback site you decide to purchase through. For example, if you’re booking a holiday through a cashback website, that transaction will be worth much more than most purchases. It’s also worth noting that these sites often set a minimum threshold for you to hit before you can withdraw your money.

Some cashback websites also allow you access to better rates if you choose their more premium account type, meaning you could earn more from purchases, but you’ll usually have to pay a membership fee as well. Often, cashback companies also offer you referral rewards too if you get friends to sign up, giving you more ways to stash the extra cash.

When Will I Get Paid For My Christmas Shopping?

Once again, this is dependent on the type of purchase made, from which retailer and various other factors. This process can vary from a few days to even several months, so it’s important to note that this is not an instant process. Depending on how much you spend in total on your Christmas shopping, you could end up accumulating a beneficial amount by spending nothing more than you normally would, but you may be paid for each purchase at various different times.

The Potential Drawbacks of Cashback Sites

Before you decide you do all your shopping through cashback sites, it is important to explore the potential drawbacks to ensure you’re fully informed of the risks. For example: 

  • There can sometimes be errors with your tracked purchase, meaning you might not get paid when you think you’re going to be. 
  • Withdraw your cash as soon as you hit the threshold to avoid being affected by potential payout policy changes.
  • The cashback is not yours until it is in your bank account, and it could take a long time to arrive.
  • Shop around for the best rates and deals. 
  • If you’ve not cleared your cookies, the purchase may not be tracked and you will have missed your opportunity. 

Shop Smart This Christmas

Using cashback websites correctly could be a great way to save on your Christmas shopping, as well as at other times of the year! If you’re looking for free Christmas gift ideas, why not explore our article for inspiration, or even check out our free Christmas gift cheque generator?

We understand that many people may not be able to afford Christmas in the same way anymore due to the increased cost of living, but rest assured that we can support you if you are struggling. Our no-obligation, online debt advice tool is available anytime, day or night, and allows you to get debt advice at your own pace. Get in touch with us if you’d like to discuss your options today.

Don’t have an account with us and are looking for debt advice?

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Angel Advance provides online debt advice to get you back on track and make your finances more manageable.

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