Let’s Get You Some Cashback…
Sign Up Below for a £20 cashback bonus on your next purchase. It’s literally free! (You can do both, too!)
Today, we are going to inform you of a basic method for building an extra pot of money, stacking your cashback. It’s really simple to use, and it has the potential to earn you £5,000 a year with ease.
What is Cashback?
Cashback is money that you can claim back from your purchase, for visiting the website through a specific link. The best websites for Cashback are TopCashback and Quidco, and they are fantastic for slowly building some extra money.
Cashback sites such as TopCashback and Quidco directly compete with each other, offering shoppers the best deal possible so that you click their link. In return for clicking their link, we get rewarded with up to 10% cashback.
We presume that the retailers actually have a deal such as 15% with the cashback site, and they give us a portion of their commission. That’s good though, and it really helps us with Online Arbitrage.
It’s not very useful for Retail Arbitrage though, as there’s no clicking links in store! You’ll need to stick to your reward cards for those bonuses.
How much Cashback Can I earn with Reselling?
I don’t want to sound like a salesman here, but your earnings are potentially unlimited. It all depends on how much money you have to spend. Typically, the best deals that I take advantage of operate around 10%, but you can also get some higher and lower than this.
Personally, I take anything I can. 1%. 10%. It’s all the same to me, as I forget about it until the end of the year. I actually use this as my holiday fund, and it makes it quite fun to earn throughout the year.
Sometimes I might not hit the target, othertimes I’ve got more than enough. Over the last three years though, I’ve earnt £11,000 in Cashback. In the last 4 months, I’ve been getting £250 a month in cashback.
The good news is that it takes seconds to search for the retailer via the cashback website. TopCashback go one step further, offering a Chrome extension which you can install… this will actually tell you if the website that you’re on gives you cashback.
How to earn £250 cashback every month
As a reseller, you’ll probably be purchasing at least £5,000 a month. If you earn an average of 5% cashback on these sales, there’s your £250.
Now, you won’t always purchase from a site that offers you cashback. Some might offer you less than 5% too, but there’s always a retailer out there with a whopping 10% deal on.
As you scale up on Amazon, it’s completely normal for you to be spending upwards of £15,000 a month. If you stick to the same working average of 5% cashback, that’s £750 per month.
This is before you’ve utilised any Cashback Credit Cards, or any other incentives that your bank may offer in addition to this cashback.
Why do websites offer cashback?
Cashback websites offer us cashback in efforts to secure our custom. Although they are paying us money, they are also earning money from referring us to the website that we click on.
Although the cashback website may give you 5%, there’s a good chance that their commission deal is 10%. This means that although they will make money from us too. It helps to keep the ball rolling, and helps cashback websites to remain competitive.
I’m not worried that cashback sites make money from us, we would have no way to get consistent cashback, or money off deals without them.
They also need our custom, so it works quite well. If we don’t click their links and offers, they don’t make money.
TopCashback vs Quidco
The main difference between these two websites is that Top Cashback has the fantastic browser that reminds you which websites you can earn cashback on. This is something that Quidco lacks, and whilst it has similar offers to TCB I typically stick to the TopCashback as I get less failed transactions.
You can sign up to Quidco here
Tips for Earning Cashback in the UK
- Always check the competing cashback sites. You might be happy at 5% cashback, but another site may be offering 8% or more.
- Watch out for Enhanced Cashback. Quidco sometimes run a £20 bonus when you spend £5, which always helps to increase the bankroll.
- Make sure you purchase in the same session that you clicked through, to reduce the failure rate.
- Check the T&C’s as some websites refuse cashback if a discount code has been used.