Did you know that the average American household can save up to $1,465 per year using cashback apps? That’s $122 per month according to moneycrashers!
Crazy right?
Savvy shoppers are turning to cashback apps to stretch their dollars further. Whether you’re a bargain hunter or just looking to make the most of your everyday purchases, mastering the art of cashback apps can put real money back in your pocket.
Let’s dive into the world of cashback apps and learn how to use them like a pro!
Disclaimer: Some of the links in this article are affiliate links, which means I do receive compensation if you purchase or register through them. This is an article for your entertainment and knowledge.
How Do Cashback Apps Work?
Let’s talk about cashback apps.
I remember when I first heard about these, I was skeptical. Like, how could I possibly get paid to shop? It sounded too good to be true. But was I wrong!
But what exactly are cashback apps? They’re these apps you can download on your phone or use as browser extensions to get rewarded for shopping. They give you a percentage of your purchase back as cold, hard cash (or sometimes gift cards) when you shop through them. Sweet, right?
I’ll never forget the day I decided to give one a try.
I was about to buy some groceries from Walmart and my Wife was like, “Hey, have you checked if there’s any cashback for that?” I hadn’t even thought of it! So she recommended I download this app called Rakuten, and behold, they were offering 10% cashback that day!
Needless to say, I was hooked.
But how do these apps actually work? It’s pretty simple, really.
The cashback companies have partnerships with retailers like Walmart or Dell (pictured above). When you shop through their app or website, they get a commission from the retailer for sending you their way. Then, they share a portion of that commission with you as cashback.
The retailer gets a sale, the cashback company gets a commission, and you get some money back.
But what’s the catch? Honestly, there really isn’t one. These companies make their money from retailer commissions, not from you. Just be sure to read the terms and conditions (I know, I know, boring stuff, but important) to understand how each app works.
So there you have it.. Cashback apps in a nutshell.
They’re basically free money for doing the shopping you were gonna do anyway. And who doesn’t like free money?
Give them a try..your wallet will thank you!
Top Cashback Apps to Consider in 2024
Let me give you the breakdown of my recommended top cashback apps to keep your eye on.
I’ve been in the cashback game for years now and the landscape is always changing. But there are a few heavy hitters that have stood the test of time.
1. Rakuten
This bad boy is my go-to for online shopping. They’ve got partnerships with practically every store under the sun, and their browser extension makes it a breeze to grab that cashback without even thinking about it.
You can check them out here.
2. Ibotta
This one’s a lifesaver for grocery shopping. I mean, who knew you could get paid to buy milk? Their receipt scanning feature is pretty sick too.
Save money on your milk here.
3. Honey
It’s technically more of a coupon app, but it does offer cashback too through PayPal. What I love about Honey is how it automatically searches for and applies coupons at checkout. It’s saved me more times than I can count.
You can save with Honey here.
Remember, app ratings can be misleading. What works for me might not work for you.
Give these all a shot and see which ones fit your shopping habits best. Happy saving!
How to Set Up Your Cashback Apps
Buckle up! I’m about to walk you through the ins and outs of getting started with cashback apps. I’ve been down this road more times than I care to admit, and I’ve learned a thing or two along the way.
Setting up these cashback apps might seem like a bit of a hassle at first, but once you’re up and running, it’s pretty easy to start racking up money. And when you see that cashback start rolling in, you’ll be glad you took the time to do it right.
Happy saving, and may the cashback be ever in your favor!
Step 1: Choose Your First Cashback App
I’d recommend starting with one of the big names like Rakuten, Ibotta, or Honey (as mentioned above). They’re user-friendly and have a ton of offers.
Step 2: Download the App
- Open your device’s app store (App Store for iOS, Google Play for Android)
- Search for the app you’ve chosen
- Tap “Get” or “Install”
- Wait for the app to download and install (use Wi-Fi if possible)
Step 3: Open the App and Create an Account
- Launch the newly installed app
- Tap “Sign Up” or “Create Account”
- Enter your email address (Pro tip: Use a separate email for cashback apps)
- Create a strong password (mix of upper and lowercase letters, numbers, and symbols)
- Enter any additional required info (name, date of birth, etc.)
Step 4: Verify Your Account
- Check your email for a verification link
- Click the link to verify your account
- If you don’t see the email, check your spam folder
Step 5: Set Up Your Profile
- Add a profile picture if you want (totally optional)
- Fill out any additional info the app asks for (like your shopping preferences)
- This helps the app recommend relevant offers to you
Step 6: Link Your Credit Card or Bank Account (if applicable)
- Go to the app’s settings or account section
- Look for an option like “Link Card” or “Add Payment Method”
- Enter your card or account details carefully
- Double-check everything before submitting
Step 7: Install Browser Extension (for online cashback)
- If the app offers a browser extension, install it
- This usually involves going to your browser’s extension store
- Search for the app’s extension and click “Add to Browser”
Step 8: Enable Notifications
- The app will probably ask if you want to enable notifications
- I’d recommend saying yes, it’s a great way to stay on top of new offers
Step 9: Explore the App
- Take a few minutes to click around and familiarize yourself with the layout
- Look for any tutorials or guides the app offers
- Pay special attention to how you activate offers (this varies by app)
Step 10: Make Your First Purchase
- Find an offer you like
- Activate it if necessary (very important with apps like Ibotta)
- Make your purchase through the app or with your linked card
- Watch that sweet, sweet cashback roll in!
Remember, each app might have slightly different steps, but this general process should work for most of them. The key is to take your time, read everything carefully, and don’t be afraid to reach out to the app’s support if you get stuck.
I made plenty of mistakes when I first started out, like forgetting to activate offers or not reading the fine print. But stick with it, and before you know it, you’ll be a cashback pro.
Happy savings!
How to Maximizing Your Cashback Earnings
You know, when I first started using cashback apps, I thought I was hot stuff just for remembering to use them. But I knew I was leaving money on the table! It wasn’t until I learned about stacking and a few other tricks that things really took off.
How to Stack Cashback Apps
So, what’s stacking? It’s basically using multiple saving methods on a single purchase.
Sounds simple? Because it is!
Here’s how I do it: Let’s say I’m buying a new pair of running shoes. First, I’ll check my cashback apps to see which one’s offering the best rate. Sometimes the differences can be huge.. I once saw a 10% difference between apps for the same store!
Once I’ve picked my app, I’ll activate the offer (don’t forget this step..I’ve kicked myself more times than I can count for forgetting). Then, I’ll head over to the store’s website through the app.
Now, here’s where the secret sauce lives. Before I check out, I’ll do a quick search for coupon codes. Sometimes the cashback app will have them listed, but I always double-check on sites like RetailMeNot or on Honey too. I’ve found some killer deals this way.
Don’t forget about your credit card rewards too! I use a card that gives me extra points on online shopping. It’s like a cherry on top of my savings!
How to Use Browser Extensions with Cashback Apps
Let’s talk browser extensions. These have saved me more times than I can count. I’ve got Rakuten, Honey, and Capital One Shopping installed on my browser. They’re like my personal Avengers savings squad, always on the lookout for better deals.
What’s stress-free is that they all work automatically. I can’t tell you how many times I’ve been about to check out, only to have one of these extensions pop up with a better coupon code or cashback offer.
Pro tip: sometimes these extensions can conflict with each other. I learned this the hard way when I missed out on a fat cashback offer because another extension auto-applied a lower-value coupon. Now, I always double-check which extension I’m using before I finalize a purchase.
Combining Cashback with Coupons and Promo Codes
Combining cashback with coupons and promo codes is where things get really juicy. A lot of people think you can’t use coupons with cashback, but that’s a myth! In fact, some of my biggest savings have come from this combo.
Here’s my strategy: I start with the cashback app, and then apply any store coupons or promo codes at checkout. Just be sure to read the fine print.. some cashback offers exclude certain coupons or discounted items.
I remember this one time, I was buying a new office chair. I found a great cashback offer, stacked it with a store coupon, and then applied a promo code for free shipping. I ended up saving almost 15% on that purchase! On top of it all, my credit card gave me 1% back!
Dell even gave me a $75 e-voucher for this model at the time too.. talk about a money-saving sandwich 😉
But its not all that easy.. I’ve had my fair share of fails, like the time I got so caught up in stacking deals that I ended up buying stuff I didn’t even need. Remember, a deal is only a deal if you actually need the item!
Keep an eye out for special promotions. Many cashback apps offer bonus cashback during certain times of the year, like Black Friday or back-to-school season. I’ve got all these dates marked on my calendar now, that’s when you really save.
And here’s a little-known trick: some apps offer increased cashback if you cash out your earnings as gift cards instead of cash. If you shop at a particular store often, this can be a great way to squeeze out a bit more value.
Look, at the end of the day, maximizing your cashback earnings takes a bit of effort.
But trust me, it’s worth it. There’s nothing quite like the thrill of seeing those savings add up. Just remember to stay organized, read the fine print, and most importantly, only buy what you actually need.
Common Pitfalls to Avoid When Using Cashback Apps
It’s time for me to spill the tea on some common cashback app pitfalls. I’ve stumbled into pretty much all of these at one point or another, so learn from my mistakes and save yourself some headaches!
Overspending to earn cashback
This is a biggie. I remember when I first discovered cashback apps, I went a little… crazy. It was like everything was suddenly on sale, and I just had to have it all!
Here’s what happened: I started shopping for things I really didn’t need. Computer monitors, keyboards, clothes, etc.. I ended up spending around $500, just because I thought I was saving $50!
The lesson here? Cashback is great, but only if you’re buying things you actually need and can afford. A 100% discount on something you don’t need is still 100% wasted money.
Pro tip: Before you click that “buy” button, ask yourself: “Would I buy this if there was no cashback offer?” If the answer’s no, step away from the computer or phone!
Forgetting to activate offers before shopping
This one still makes me cringe. Picture this: It’s Black Friday, and I’ve just scored an amazing deal on a new TV. I’m feeling pretty smug as I head to my cashback app to claim my rewards. But wait… where’s my cashback?
Turns out, I forgot to activate the offer before shopping. WTF! I missed out on a cool $50 because I was too excited about the deal to take that extra 30 seconds to activate the offer.
Here’s how I avoid this now:
- I always check my cashback apps before I start shopping.
- If I’m planning a big purchase, I activate the offer right away, even if I’m not buying immediately.
- For stores I shop at regularly, I keep the offers activated all the time.
Remember: activation is key. Don’t be like me, crying over lost cashback!
Neglecting to read terms and conditions
I know, I know. Reading terms and conditions is about as fun as watching paint dry. But trust me, it’s worth it.
I learned this lesson the hard way when I thought I’d scored a sweet 10% cashback on more crap I don’t need from Dell. I was all set to treat myself to a nice dinner with my “savings” when I noticed the cashback hadn’t appeared in my account.
After a frustrating chat with customer service, I discovered the fine print: the offer excluded certain brands, including the one I’d bought. Ouch..
Since then, I always take a few minutes to skim the T&Cs. Here’s what I look out for:
- Exclusions: Some offers don’t apply to certain brands or product categories.
- Minimum purchase amounts: Sometimes you need to spend a certain amount to qualify.
- Time limits: Some offers are only valid for a specific period.
- Special requirements: Like using a specific payment method or buying from a particular section of the store.
It might seem tedious, but those few minutes can save you a lot of disappointment (and money) in the long run.
Check out this Macy’s one for example:
Cashing Out Your Rewards
Let’s dive into the exciting part of using cashback apps..cashing out those hard-earned rewards! Below are some tips and tricks I learned along the way.
Different payout options
When it comes to getting your hands on that sweet, sweet cashback, you’ve usually got a few options. Let me break it down for you:
- PayPal: This is my personal favorite. It’s quick, easy, and the money goes straight into my PayPal account. From there, I can transfer it to my bank or use it for online shopping. Just remember to double-check that your PayPal email matches the one on your cashback account.
- Direct deposit: If you prefer being old-fashioned, this is for you. It’s super convenient, but it does mean sharing your bank details with the app. I was a bit nervous about this at first, but after reading up on the security measures these apps use, I felt a lot better.
- Gift cards: Here’s where you can sometimes score a little extra value. Many apps offer gift cards as a payout option, and they often come with a bonus. For example, I once got a $25 Amazon gift card for only $22 worth of cashback.
Minimum payout thresholds and how to reach them faster
The dreaded minimum payout threshold. It’s like a finish line that keeps moving further away. I’ve got some strategies to help you cross that line faster:
First off, know your thresholds. They can vary wildly between apps. Rakuten, for instance, pays out quarterly as long as you’ve earned $5 or more. Ibotta, on the other hand, lets you cash out as soon as you hit $20.
Here is what you need to do to reach these thresholds faster:
- Focus on high-percentage offers. I once earned $10 cashback on a single $50 purchase because the offer was for 20% back. Keep an eye out for these gems!
- Use the app for big purchases. Planning to buy a new appliance or book a vacation? Check your cashback apps first. These big-ticket items can push you over the threshold in one go.
- Look for sign-up and referral bonuses. When I first joined Rakuten, they had a $40 (now $30) sign-up bonus. That put me well on my way to my first payout.
- Don’t forget about in-store offers. It’s easy to focus on online shopping, but many apps offer great in-store cashback too. I once earned $5 just for buying my regular groceries!
Tips for managing and tracking your cashback earnings
Keeping track of your cashback can feel like a dread, but it’s crucial if you want to maximize your earnings. Here’s how I stay on top of things:
- Use a spreadsheet: I know, I know, it sounds super nerdy. But trust me, it helps. I have a simple spreadsheet where I log each purchase, the expected cashback, and when I expect to receive it. It’s saved me more than once when cashback didn’t show up as expected.
- Set reminders for payouts: If you’re using an app with quarterly payouts like Rakuten, mark those dates in your calendar. There’s nothing worse than checking your account and realizing you just missed a payout by a day!
- Keep your receipts: This has been a lifesaver, especially for in-store purchases. If there’s ever a discrepancy, having the receipt makes it much easier to resolve.
- Check your accounts regularly: I make it a habit to check my cashback apps once a week. This way, I can catch any issues early and make sure all my cashback is tracking correctly.
- Don’t forget about your unclaimed rewards: Some apps, like Ibotta, have “bonus” sections where you can earn extra cash for completing certain tasks. I once found $15 in unclaimed bonuses just sitting there!
Remember, managing your cashback is all about staying organized and proactive. It might seem like a lot of work at first, but once you get into the habit, it becomes second nature. And when you see those rewards adding up, believe me, it’s all worth it!
Wrapping up
Congratulations!
You’re now equipped with the knowledge to become a cashback app master.
By incorporating these apps into your shopping routine, you’ll be amazed at how quickly your savings can add up. Remember, the key to success is consistency and smart shopping habits.
Start small, experiment with different apps, and watch your cashback rewards grow.
Who knows?
You might just save enough for that dream vacation or that gadget you’ve been eyeing. Download a cashback app today and turn your everyday purchases into money-saving opportunities. Happy shopping and even happier saving!
