If you are anything like my at this time of year then you will be actively avoiding looking at your bank balance. The Christmas period normally sees our balances and credit cards take an absolute hammering which is why I am starting this January by mapping out a serious savings plan, and finding ways to reduce my spending. One of the best ways that I have found to do this, and a method which did actually help me to save money across the holiday period is cashback, which I began using last year. There are many cashback sites like Lyconet which offer you the perfect opportunity to save big on your grocery shop, and if you are starting the new year in the same way as I am, cashback is a great tool to help reduce your spending.
Traditionally saving money in the grocery store would involve coupons which had been chiseled out of newspapers and magazines, or enjoying the in-store promotions and savings. Cashback flips this on its head slightly by offering discounts after the fact. When you go on to a cashback website you will find a large number of products and each of which has a different percentage of money back which you will receive when you buy the product. This is basically a cost saving, only in reverse.
How You Can Save
The first step will be to choose your cashback site, and sign up for a profile. You will have to pay a small membership fee in order to sign up but you will get that money back once you start saving, with interest! Once you are on the site you simply need to look over the products which they have on offer, and decide which will be the ones that you take advantage of. The beauty of these sites is that they offer products which you probably buy most weeks anyway, which means that you don’t even have to change what you buy. Once you find the product that you like, you can either buy it online or head to the store to pick it up. After buying the product you simply need to upload proof of purchase and the money will then be credited into your account, my record so far for a single shop was $29!
The reason why I am surprised that there are not more people who use cashback is because it is just so easy to do. You don’t have to go to specialist stores, you don’t have to do anything more than find a product with a great percentage of cashback, pick it up when you are in store and then get your money back.
If you are looking at ways in which you can reduce your spending this year, and you aren’t already using cashback, then this should be the first thing that you do to kickstart your savings plan for the year ahead.