Many people distinguish their spending power and savings ability and treat them as two totally different functions. This is especially evident for the middle income group who thinks they must be separated because they serve for different purpose.
However, the key to a rich mentality is always about having the two important equation balanced out well.
While it is important that that we strive to improve our savings rate, there are also ways that we can be smart about our day to day spending as well.
Gone are the days where you scroll newspapers to look for coupon clips in order to get item rebates.
These days, there are many merchants coming up with new ideas and better offers to entice shoppers to sign up with them to get rebates.
One of them is Shopback, a merchant me and my wife used almost on a daily basis whenever we shop online.
It was only about a year ago when we came across a website called Shopback when we purchased a shoes online and we were immediately hooked into using it since then.
For those who are new to Shopback, they are basically set up as an e-commerce online shopping platform where they allow profit sharing with their customers in the form of cashback.
The idea is pretty simple.
You find your stuff and get your normal routine shopping done with the merchants you want to purchase from, and at the end of the purchase you get almost an immediate cashback from them once everything is sorted out.
Shopback has 300 over merchants they are partnering up with at the moment and some of my favourites I often frequent includes Hotels.com, Bookings.com, Singapore Airlines/Scoot, Klook, Lazada/Shopee, Redmart, IHerb and Taobao.
Some of the rewards can be as small as 1% with the likes of booking with Singapore Airlines or Scoot and as high as 10% for Lazada, Shopee and Agoda.
If your spending on higher amounts such as laptop, hotel bookings or air flights, the savings can be quite significant when you accumulate them.
On some days, you might even see them launching promotions on certain vendors where you get an upsized cashback which yields double digit rewards.
For example, this week’s upsize edition is a promotion with Qoo10 and Shopee where you can get an upsize cashback of 5% and 10% respectively.
Personally, our household have accumulated quite a bit of cash rebates from using them since a year ago plus.
To date, we have managed to accumulate an overall earning rebates of $428.80, which is not bad given that we have to spend these expenses anyway.
Under no circumstances we are pressured into spending onto things that we felt were unnecessary for the sake of obtaining the rebates.
Thus, we see this as a bonus “free” money that we are able to channel it further to our savings once we have redeemed them.
If you are first-time user and are interested in signing up, you can refer to the Link Here to do your registration.
Upon successful signing up, you would be entitled straight to a $5 rewards (and I will be rewarded a small $5 referral fee) as well, just for open disclosure.
You are under no circumstance pressure that forces you to spend on things that you don’t want to purchase even after signing up so the discretion is entirely yours.
*This post is a collaboration with Shopback, but all views and opinions are purely mine and is a product that I believe will help consumers to save for the better.
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