Saving Money by Winning at Rebates

Filing this week's rebates for Staples purchases - $26 of back to school supplies (e.g., pencils, pens, and highlighters) for free. Thus far, in July, I'm getting $80+ cash back in rebates. Thought I would share my tips for winning at the rebate game. It takes some effort and time, but you can save alot of money redeeming rebates.

Know your threshold for following through. According to a recent Aberdeen Group survey involving 175 companies, redemption rates on rebates is 58%. So, if you don't submit the paperwork and can't handle the wait time, rebates aren't for you. You're likely to pay more for the item than if you waited for the item to go on sale.

Be disciplined. Most folks think they'll process the paperwork, but never get around to it. Give yourself a deadline (e.g., 48 hrs post purchase) to complete the paperwork.

Avoid losing the rebate on a technicality. Follow directions. Most rebates are rejected because the consumer failed to follow the directions correctly (e.g., used the wrong bar code, incomplete information, wrong UPC code or rebate receipt code, using a PO box when physical street address is required, missing box top etc.)

Know what's required. Understand the deadlines for submission, rebates available per customer, rebates per physical address, special instructions, proof of purchase requirements, etc. Sometimes the cost and effort of processing the rebate outweigh the value of the rebate.

Make copies. Make copies of all documents before you mail them. If you need to contest a rebate rejection, you'll need your backup.

Track the time. Mark the process time on a calender so you can follow up if you're in non-receipt of your rebate check within a reasonable time.

Watch the mail. Some rebate checks can look like junk mail,so watch the mail carefully to avoid accidentally tossing them out. Once you receive it, cash it. Most checks have an expiration date.