The four ways you can make an extra £1,000 a year through cashback

    0


    The Money Saving Expert team have explained how people can make a difference by using cashback.

    The Martin Lewis MoneySavingExpert (MSE) weekly newsletter claimed that if someone combined all four cashback routes, they could “become a cashback champion.”

    Britons can earn cashback on some credit cards, debit cards, apps, and via cashback websites.

    As the cost of living crisis continues, Britons will be looking for ways they can make some extra cash.

    By following these tips, people can “make over £1,000 a year doing this”.

    1. Plastic fantastic

    The “easiest way” to gain cashback is by swapping one’s spending card to one which earns a high percentage of cashback.

    Savers can get up to five percent cashback with some cards so it’s important people check the interest rates of the cards they want to get the most out of it.

    On X @NeillyBoy tweeted: “@MartinSLewis £205 earned via Chase since May 2022. Nothing more than everyday spending, subscriptions etc. Great service and so simple to manage.”

    2. Get cashback when paying bills

    Britons can get cashback for bigger purchases such as paying bills. The amount of cashback available may be limited, but as bills are to so frequent, this money can slowly add up.

    The MSE newsletter suggested this is especially good for couples who have a joint account for bills.

    They recommended Santander Edge one percent bills cashback up to £20/month. Britons can get this without needing to switch bank. They pay £3/month for a Santander Edge* account to get the cashback in two categories, with a combined £20 maximum paid out each month.

    • one percent bills: water, council tax, energy, broadband, phones, paid-for TV paid from the account, up to a max £10/month.
    • one percenton some spending: supermarket, fuel, and train and bus travel spending, up to a max £10/month.

    For someone with average bills, they calculated them to expect the gain to be around £80 a year to £100 a year.

    3. Cashback sites with £30 BOOST

    Britons can gain extra cash when buying through a cashback website.

    Many MoneySavers report doing well on this, as Jonathan tweeted: “@MartinSLewis Around £200 on Topcashback this year. £135 of that for my Sky package, which I would have bought anyway.

    “Another trick is to convert to Avios as you get one point per 1p!” Some say they’ve earned £1,000s over the years with cashback sites.

    4. An appy way to add a little extra

    Britons can get something on top of cashback from plastic and cashback sites.

    Savers can link all their bank accounts to cashback app Airtime Rewards via Open Banking, and it automatically tracks spending at 150 retailers and gives people cashback.

    These include big retailers such as Greggs (one percent), Argos (two percent), Waitrose/John Lewis (three percent) and Boots (four percent). Britons can also get decent cashback on train operator LNER (eight percent) and online groceries with Amazon Fresh (10 percent).

    Debbie emailed: “Martin very briefly mentioned this on one of his programmes. I downloaded the app and have already earned £9 and have £60 pending. I haven’t bought anything I didn’t need, just smarter shopping. Thank you.”



    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here