Cash Back Programs

Cash back programs – while making more income through side hustles is great; it is also good to save money where you can reducing the amount of money you need to earn. These programs can help you save some money on the everyday or even special purchases you make. Often you will save between 2%-10% however some deals can be up to 30%.

ShopBack and CashRewards are the two main cash back programs in Australia. I find it’s best to have an account with both; as the the deals vary a bit and sometimes seem to alternate between the two. I’ve used both over 3 or so years and have been able to get around $240 in cash back. Not bad for little extra work.

How do they work?

All you need to do is when shopping for something just check both websites and see if they are offering a cash back deal for the company. If they aren’t just go ahead with your purchase if you are still happy with the price. If they have a deal, bonus! You can get a discount for purchase. So on the ShopBack or CashRewards site (or app) find the deal and click through on their link. That will take you to the company’s website where you can then purchase the item you were looking for. Afterwards the transaction should appear in your cash back history on the site you went through. Have a look at my transaction history for ShopBack here:

ShopBack cash back program transaction history.
Here is my transaction history as an example of the types of transactions and amounts.

I’ve commonly used my cash backs on iHerb, Groupon and eBay, but have also used it on the Microsoft store. Groupon can be a great way to “double up” on deals as they are often reduced prices already. Its great when you can get a cash back on top of that. Although be aware with Groupon deals there is generally a number of exclusions that can make them difficult to use.

A few cash back caveats

You will need to wait 60 or 90 days for the cashback to be confirmed and be available for withdrawal. So definitely don’t purchase something if you are relying on the cash back to come through instantly. Also depending on the deal you sometimes won’t be able to combine it with other discounts or promo codes. The deal terms and conditions will outline any exclusions so make sure to check them.

“You are the product” concerns

As the saying goes if the product is free then you are the product. I think this applies here as you are just getting cash back for allowing these sites to track your purchases. Obviously they will making money from this data somehow; likely selling it to marketing agencies or companies. I think its relatively safe as most companies will start using this information (if they aren’t already) when you purchase directly.

However, I guess there is the potential that in the future they know your likely to use a cash back scheme and will raise the price just for you. Effectively, personalised pricing based on your circumstances and demographics. I don’t know if it will ever get to that but there is the potential that you need to be aware of. If you stay strong with your purchasing and set a max price you will buy something for, you can combat this to some degree. You can wait for the right price or shop around. It is up to you to evaluate whether these cash back programs will be worth it for you.

If you are still interested in signing up to these programs you can go here for ShopBack and here for CashRewards. Both of these sign up links will give you an extra $5 cash back on your first purchase tracked through the system. I additionally will get $5 once you complete your first purchase. If you decide to use these links, thanks for helping support the site. If you have any questions about these programs, I can try answer them below.

Catch you in the next one.

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