I used to be the type who don’t “do” shopping. I only buy what I need most of the time – plus the occasional (impulsive) I-must-have-this when I spot something as I browse around in the malls. That meant for so long as I wasn’t physically at a mall/shop, I wasn’t spending on anything.
Now, with everything at the tip of our fingers (thanks to the interweb) I can arrange my travels, order food and even get that dream dress that is on sale – all without leaving the comfort of an airconditioned room while it is sweltering outside.
Yes. Of course I am talking about online shopping. But before that, Disclaimer: This post is in not encouraging you to spend billions of dollars online or be swamped in credit card debts. It’s purpose is to share with you how you can actually SAVE more money when shopping online. Just make sure you pay your credit cards bills on time! Or pay using cash. We good? Alright, continue.
Now, I recently came across a website that actually pays you when you shop online. Actually, it gives you back a percentage of an amount that you spent when making online purchases. This is called CashBack.
But, before I direct you to that website, allow me to answer the questions that are in your head right now.
1. What do you mean by CashBack?
CashBack is getting back (in cash) a percentage of an amount that you spent when making purchases on an online Seller’s website. For example, if you spent $100 on the purchase of an item online and if cash back for that Seller is 10%, that means you will get back $10. The nett effect of that is that you actually spend only $90 (ie. $100 minus $10) instead of $100 on your purchase.
2. How does it work?
Using the above example, you pay $100 when making the purchase as per the normal online shopping procedure. The $10 cash back will be credited into your CashBack account, which you can then get transferred into your banking account after a certain period.
3. Where does the cash come from?
Good question and an important one. The $10 that you “get back” in the above example, is actually a part of the commission that the CashBack site receives from the Seller for bringing sales/ie. you (a paying Customer) to the Seller’s website.
4. Why would the CashBack site give me cash back?
Well, since you are buying from the Seller and earning the CashBcak site Commission, why shouldn’t they NOT be giving you at least some of that commission? Seller gets Sales, the CashBack site gets Commission and you get the item you paid for PLUS cash back. Everybody wins.
5. Who should be register on the CashBack site?
People who make online purchases from the following sellers are highly encouraged to register for CashBack:
- Agoda (hotels)
- Booking.com (hotels and hostels)
- Expedia (flights and hotels)
- AirAsiaGo (flights and hotels)
- Hotels.com (hotels)
- Foodpanda (food)
- and many many more eligible sellers
Honestly, if you are going to be spending that $100 in purchases, why not spend that but get $10 returned to you in cash back and thereby only spending $90? That’s $10 saved!
Okay, now that you’re clear about the basics – let’s get you sorted to saving up with cash back. If you would like to register for a CashBack account, leave me your email address so I can invite you and you will automatically get FREE $10 (RM10 for Malaysia) cash back credit in your account: RM 5 when you sign-up/register and another RM5 when you make your first purchase.
Happy shopping and Happy savings!