Rebates offers are often used to make purchasing a particular item more attractive. You’ve seen these types of offers, right? Maybe you’re shopping for tires for your car and see an advertisement listing them for $90. Then you notice the little asterisk next to the price. Tiny letters declare that the advertised price is “after mail-in rebate.”
Do you take these types of offers into account when you’re making your purchasing decisions? I’ve noticed there are typically two schools of thought when it comes to rebates. Some folks love rebates. They seem to live for filling out the coupons and sending in the necessary paperwork. Others, on the other hand, seem to think that rebates are much more hassle than they are worth. Which school of thought do you fall into?
I’ve taken a sort of middle of the road approach to rebates. While I don’t always let them become a determining factor when I’m deciding where to shop, I certainly don’t mind doing a little paperwork to get some cash back. A stamp, a few minutes to fill out a rebate form, and an envelope seem like a small price to pay for getting some extra mad money.
What I typically do is consider rebate checks to be “found” money. I don’t budget for them. Then, when one shows up in our mailbox, I am always pleasantly surprised. Despite my carefree attitude about rebates, I have noticed that there are two steps that you should take to ensure that you get all of the rebates you are eligible for.
Complete rebate paperwork in a timely manner. How many times have you missed out on a rebate because you missed the deadline? Try to make an effort to fill out rebate slips as soon as you bring them home. This will keep them from cluttering up your home and help you get your money back as quickly as possible.
Make the rebate paperwork fool-proof. I try to make it easy for the folks who process the rebate to see that I have completed all of the necessary tasks. If you have to attach a receipt with multiple items, highlight the related item. If you are supposed to send in four box tops, make sure you send in four box tops.
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{ 4 comments… read them below or add one }
I think it’s hard not to have the rebate be a part of your purchasing decision when a nice, attractive price is staring you in the face.
I think a bad idea would be to purchase the item with the “excuse” of taking the rebate, but then completely forgetting or not caring to get the rebate you intended to pursue. A lot of impulse purchases happen this way.
Like you, I also budget for the full ammount I have to spend at the register, and treat the rebate check as extra savings when it comes in.
I always ask myself the same as well. Is it worth it? Sure it helps but don’t think I buy based off of that. Too many times there are restrictions and strict guidelines and I always tend to forget. If it’s too small, I don’t even bother.
One other thing to consider: how your rebate is paid to you. I was very upset recently when I got a rebate from a home improvement store in the form of a prepaid Visa gift card. At first, I thought that I could only use the card at the store since it was emblazoned with the store logo. Then I realized it was a general purpose card — but that it expired after a few months. By the time I tried to use it, the expiration date had passed and the money was gone. I lost out about $75.
Moral of the story: If you get your rebate back as a prepaid card, use it immediately to pay your groceries or other basic expenses. That way you’re sure to see the benefit.
Im a huge fan of rebates! Rebates, paired with coupons, and other in store sales/offers are the best way to go in my opinion. Be sure to read the fine print