Adventures with Mail-In Rebates. Are They Worth It??

Many of you might be wondering about all the rebates that I mention on here?  Is it worth it?  How much trouble is it? Blah, Blah, Blah. Well, let me say...for our family, it's definitely worth it!  That stack of checks you see...those are my rebate checks for about the past 4 months (I deposit my checks from home by scanning them...that's why I get to keep them all!).  Those checks total over $630!

They represent tons of things that were free after rebate, greatly reduced after rebate, rebate checks for shopping online (earning back a % of things I'd be purchasing anyway), etc.  Just flipping through them, that was free ice cream, free candles and home scents, a free weather radio, free cereal, plus dozens of other things!  I don't know about you..but $630 is a lot of money in our budget and if I averaged that every 4 months (I don't know that I do - I'd have to do some math in my budget to see, but just pretend for this illustration)...that would be $2500+ a year in free items or cash back on things I'm already buying, etc.

So, those are great things to think about, huh?  But what about the downside?  The biggest argument that I get when I talk about rebates is...but I still have to pay for it up front.  And you're right...you do.  If you're on a tight budget...buying something you don't absolutely need could be impossible.  If so, rebating might not be for you.  But if you can squeeze a few extra dollars out here or there, here is something to consider.

I recommend allowing yourself a 'rebate budget' of $10 per month, or per week, to buy a 'Free after Rebate' item.  When you get that first check and cash it, you can add it to your 'Rebate Budget'.  Once you get started doing it (especially  if you do it regularly), you'll have a steady stream of checks coming it that you can add right back into your budget for new rebate items, groceries, etc.  It will be like you're spending the same money over and over again!  A week hardly ever passes that I don't get at least one, usually 2 or 3 rebate checks in my mail box!

Now, the details.  One pain in the neck hard thing about rebate shopping is keeping up with all the paperwork, forms, etc.  Yes, it's tedious.  But once you get into the habit and follow a few rules, you'll be doing it easily!   One rule I follow is that I always prepare and mail my rebate the day I buy the item (or the day it comes in the mail if it's an online order and I need the UPC code, receipt, etc.).  You'll want to do this so you don't forget about it, lose the receipt, throw away the package, etc.  Buying an item that is 'free after rebate' is pointless and a waste of money if you don't actually  mail in the for the rebate.

Another rule is that you must abide by is... follow the instructions and keep copies!   First - read the instructions.  Make sure you buy the right item, the right size, and in the date range specified.  You'll also need to mail in whatever they ask for - usually the form, the receipt, and the UPC code.  Second - keep copies!  Before I became completely dependent on my laptop, I used to have a rebate folder.  I'd make copies of all of my forms, receipts, etc., staple them together and file them in the folder.  You can look at the fine print and determine when you expect to receive your check (usually 6-8 weeks), write that date on the front page, and file them according to when you expect your check.  Then, when you have your folder out filing away a new rebate, you can check the dates and see if you have any that haven't arrived on time...more on this in a minute.

Now, if you're like me (addicted to my laptop, printer, scanner, etc.), you might go a more environmentally friendly route.  I'm not an environmental nut...but I do what I can, you know?  To avoid more clutter in my house and become more dependent on my gadgets, I don't do an actual folder anymore...with all that printing, copying, stapling, etc.  Now I scan all of my forms and pages right into a document and put it in a rebate folder on my computer.  In the title of each scan, I put the date and a brief description.  Then when I get a rebate in the mail, I move that document into a 'Received' folder.  If I have documents lingering longer than they should in the 'rebates' folder, I go through the below steps of tracking down my money. 

Last rule: follow through!  If your check doesn't arrive in the time expected, make sure you find out why! If you have your folder, pull out your copies, check the fine print, contact the company, and get busy making sure they send you your money.  You may have to make copies, or print out the scanned documents, and mail them again, but it'll only take you a minute because you'll have all the information in one spot.  Is this a hassle?  Yes.  But, I must say that in the last 8 years of doing these deals, I've probably only had to track down a rebate a handful of times.

I hope this information has demystified the whole rebate process for you!  Is it complicated?  Maybe alittle. But I promise, once you get into the habit of doing it, it doesn't take long and you will start to see the benefits!  Go here and scroll down to see the rebates I've posted about so far!