Cashback

Are Cash Back Websites Worth Using?

There are quite a few cash back websites available now and whether you are deciding whether to use one or already do use one, it can be worth thinking about whether they are worth it or not. There are advantages and disadvantages of using them and it is worth considering these before you make up your mind fully.

Advantages

  • When you make a purchase and use the link on the cash back site, you will get some money back. This means that if you are buying online (and sometimes offline) then you will get a bit of cashback, which will eventually make its way to your bank account.
  • You may be able to get discounts that other shoppers do not get because they are offered through the cashback site.
  • It only takes a few extra clicks of a mouse and you will be able to get some money back on the items that you buy.

Disadvantages

  • The amount of cashback that you get is very small. Although it is better than nothing, it will not be a great deal. It is better to think of it as a small bonus rather than a discount.
  • Sometimes the purchase does not track properly and you do not get paid your cash back at all.
  • The cash back will take a long time to reach you – it could take months before you get it and sometimes even longer. This is because the cahs back company has to claim it back from the retailer first and that will take some time.
  • You may spend more money than you intended to because you know that you are getting cashback. Problem is with this is that the cashback amounts tend to be very small percentages.
  • You may feel that you are justified in shopping lots more often because you can get cash back on your purchases. It could mean that you end up buying lots of things that you do not need and spending money needlessly and cluttering up your home with things.
  • The cashback sites want you to buy things and so they will entice you into spending money which you may not be able to afford to spend.

It is wise to be really careful with these sites. You want to make sure that you are only buying items that you were planning on buying anyway even without the offer of cashback. It can be very tempting to think that because you are making money from the purchases that you are making, that you should buy as much as possible to make more money. However, it is so important to remember that this is actually not the case at all. You will be paying out more money every time you buy something and only getting a very small proportion of it back. So do not fall into this trap. Also, if the purchase does not track properly, perhaps because you do not click through correctly or there is another error, then you may not even get the money. Therefore, this will make things even worse.

The sites are therefore really only good for people who have good self-discipline and will only buy things that they really need and benefit from getting the cashback. For people that don’t need much of an excuse for buying more than they need then it can encourage them to spend more money than they can afford. So, you will need to think about whether you feel that this sort of site will be right for you or not. You will know but you will nee dto be honest with yourself.