Cash Back Rebates as Debt Snowflakes

by Julie on February 21, 2012 · 1Leave a comment

Mr. Rebates In the last couple of weeks, I’ve had some debt snowflakes land in my inbox in the form of cash back rebates from my Christmas Shopping. Specifically, I made gift purchases at Fossil and Shutterfly and both offered cash back.

(Note: Mr. Rebates (referral link) is my all-time favorite cash back site. I’ve been using it since 2006 with only the best of results.)

As you know, I give all our found money a job to do. In this season of our life, it’s paying off debt.

So last week I sent an extra $30.89 to our home equity loan as a result of those cash back rebates. The home equity loan is our last non-mortgage debt to pay off and it’s just kind of…sitting there. First came the holidays and now it’s tax season, which — when you’re self-employed — is never a fun time.

But in addition to our regularly scheduled payment, I still throw these little wins at the loan and soon we’ll be able to give our found money a more fun job to do.

Have you been able to jump-start your debt reduction or savings in the new year or are you just kind of slugging along too? Tell us about it in the comments.

This post is part of Works for Me WednesdayFrugal Friday, and the Debt Snowflake Challenge.

{ 9 comments… read them below or add one }

Melissa@Mom's Plans February 21, 2012 at 11:38 am

We were making great progress, but now we are saving for a business trip my husband will be taking in March. He will be reimbursed later, so we can snowflake that money, but right now it is hard to not apply the extra on debt and instead put it aside so we can pay cash for the trip.


Julie February 21, 2012 at 1:18 pm

Melissa, that will be a big snowflake when you get it back. Congrats on all the great progress you are making.


Carrie - Careful Cents February 21, 2012 at 1:36 pm

Because of your “found money” idea, I have also been snowflaking all my found money. I’ve seen how quickly the little amounts add up quickly. Thanks for the inspiration and sharing your story, Julie!


Julie February 21, 2012 at 3:41 pm

Carrie, that’s awesome! Thanks for sharing your success.


Audrey @ Mom Drop Box February 21, 2012 at 7:51 pm

$31 in rebates is $31 you don’t have to pay! I’ve never tried Mr. Rebates.

We are doing pretty well with some of our financial goals this year. We received our tax return & applied that to a student loan, and we’ve saved some for our EF, so that is exciting.


Julie February 22, 2012 at 12:08 pm

Audrey, that IS exciting. Congrats on your progress toward your goals. I like Mr. Rebates because it’s such a great source of found money. Nothing extra required of me.


Christa February 22, 2012 at 1:57 pm

I had great intentions of paying off more on our last credit card since the beginning of the new year, but life got in the way! Soon, I’ll have to buckle down and say goodby to that sucker before summer.


Julie February 22, 2012 at 2:17 pm

I hear ya, Christa. Paying off debt takes such focus, doesn’t it?


MyMoneyDesign February 25, 2012 at 2:37 pm

My strategy with rebates or cash back is to save it all until Christmas and then use them to get gift cards for presents. However, putting them towards some other form of debt like your loan is also a great idea and very responsible as well!

I do not know about Mr Rebates. I’m going to have to look into that one.


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