Families ‘earn’ hundreds via cashback sites

cashback sites

cashback sitesMore and more families are using cashback sites to save money every month via 'cashback' reward offers, a new survey has found.

These cashback reward websites actually pay online shoppers when they click through to buy their purchases, with thousands of families 'earning' as much as £1,000 per year, tax-free!

They offer returns on food, household goods, energy providers, smartphone tariffs and even bank accounts - so families on a budget can certainly save a great deal of money by shopping around online.

For example, you could earn a £50 set fee for buying a home insurance policy online, or receive an equally good percentage off online music and DVD purchases.

Indeed, such deals are certainly popular. It is thought that customers spent around £750 million - £1 billion on the cashback website industry last year.

At one of the largest cashback firms, Quidco, the average yearly amount made by users online is £262, while some others make as much as £1,000.

But are these deals really what they say they are?

Magic money savers or dodgy deals?

It is easy to feel sceptical about the offers made on these kinds of websites, but as the sites are getting new business from customers the websites are only too happy to offer rewards to their users - and the rewards don't count as income so they are tax-free.

In many ways these cash offers are simply a 'thank you' for buying with a company in the hope users will return to use them again in future.

Retail analyst at Verdict Research, Patrick O'Brien, said: "With safety improved and more discounts available, it's growing in popularity. And with the current economic climate, it's no surprise more people are turning to it."