Save money for your kids by doing what you normally would!

annejones

Hi

I have used this site for ages but only just joined as I notice that a site I use loads is missing... so thought I would share!

The site is called kidstart.co.uk and basically you register then shop via the site and get money back. The site isnt a cashback site as such as the money you save goes directly to your childs trust fund. We also have my mum and dad registered so they save for our kids too. Now I know this isnt a cash in your pocket thing BUT in the current climate we find it quite hard to put extra money into our kids accounts so this way we are still saving but not dipping into the monthly income. I only wish we had known about this site when we had number 1 as all the money we spent on furniture and baby things but got nothing back from it.

Anyway as I said just thought I would share.

Anne

pruney

Hi Anne

Welcome to MSE. My brother lives in America and they have a similar scheme over there to save for your child's college fund but it only transfers the money once you've earnt £25 in commission, is that the same with this scheme?

pruney

I've just been to take a look at this site but the cashback rates seem far lower than on topcashback.co.uk. Pets at Home give 5% back through topcashback but only 3.5% through this site and the RAC insurance gives £70 cashback through topcashback for car insurance but this site only gives back £40. I wonder if they're pocketing the extra so they don't need to charge of they just don't get as good rates because they're smaller. Admittedly I only checked a couple of retailers that I've used (the other I checked was zooplus but they don't have that merchant) but you'd be better off checking the rates given by topcashback. They're also free to join, no fees and you can pay into any bank account just like this website.

savemoney

You better using topcashback then using money on whatever you want to do with it and get a much better rate

geordie_joe

pruney wrote: »

II wonder if they're pocketing the extra so they don't need to charge of they just don't get as good rates because they're smaller.

They are pocketing the extra. They won't get paid less because they are small, in fact it is the other way around. The more sales you make the bigger the percentage of commission you get.

For example, a merchant may offer 4.5% commission per sale, but this is for the first 20 sales per month. If you make 21 to 40 sales in any one month they will pay you 5% for every sale that month. And if you make over 40 sales in any one month they will pay you 5.5% for every sale that month.

Cashback sites usually make a lot of sales, so they always get paid more than the basic rate, but only ever offer their members the basic rate (or less), and keep the extra.

You may find one that offers more than 100% cashback for some people, but how can they pay you more than they are receiving? Because they are quoting the rate for one sale per month, but actually receiving a higher rate because their web site is responsible for a lot of sales per month.

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emmamme_2

I use this site all the time and personally find it to be great.

They have far more retailers than the other sites (more that are relevant to me as a mum especially). The money goes into your account much more quickly than the other too and even when I had a problem of money going missing they sorted it straight away and credited my account.

So yep it doesnt go into your pocket but tbh finding money from the monthly income to add to the kids trust fund just isnt possible atm. So personally I like the thought that I am saving for their future as its money I wouldnt normally have IYKWIM.