Using cash back?

So here is a question, how do you all use your cheques from checkout 51, snap, etc? I have quite a bit banked and I'm going to cash out. But I'm trying to think what would be best to do with it... I first thought buy a bunch of gift cards... But I prefer to use my PC MasterCard to earn points so that doesn't help. Can I put cash in my MasterCard? As like an "overpayment"? Maybe not smart... Savings accounts I guess are an option. Anyway it got me wondering what all you savey savers do?

Ps sorry if this is in the wrong spot. I wasn't sure where this fell topic wise.


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I put all my cash back into my PC checking account. I use this account to pay for groceries. So the savings from the apps get applied to the groceries - this is how I lower my bill. A savings account, like you mentioned, is also a really good idea. Especially if you're planning on making a big purchase or a splurge... it's a good way to funnel away some of those savings and watch it grow!

I put it into a savings account.

I just deposit it, and use it for regular shopping.

I made extra payment on mortgage

I tend to recycle my grocery points: PC for groceries, SDM for things I need, Airmiles for good sales @ Metro. Anything I get from rebate apps and the like go into my entertainment budget for special stuff. Case in point, my ebates cheque paid for the one day camp for little man on March break, and the balance owing for the Centerville groupon (once I used my groupon bucks). My checkout 51 cheque will go to movie night out with hubby when it comes. It is an easy way to add something special into a tight budget.

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Originally Posted by lp11

I made extra payment on mortgage

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Wow! Good for you!

-I set it aside for something special -last month used money from checkout51 for my son's birthday
-then some for hubby's wallet

-next week have some set aside for hubby's and mine haircuts -all paid for from checkout51 -that way we are not touching the bank accounts

All good suggestions! I think savings. I just tend to go over budget a bit of there are really good stock up rebates for example. So I'm trying to find a balance, my initial thought was to use the rebate cash to pay for rebates. But I know the cash won't last in our house lol. So savings is probably a better idea.


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Like today I got two packs of tampons, two scrubbing bubbles, and two baby Vicks. After coupons and co51 I paid $2 for it all. So great! But I technically used I think $$11 in cash. So not something I budgeted for.

Maybe a better idea is to set aside $10-$20 a week for rebate purchases alone.


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Gotta LOVE putting that extra 15% down yearly to pay down your principal!!! I'm with you on that one. :)

Hmm putting a large lump sum into an rrsp wouldn't be a bad idea either since you'd get a tax rebate from it too :)


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We cash out a cpl times a yr. We use ours for gas on vacation and for buying Christmas gifts when the black Friday deals are on.

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Originally Posted by samm07

But I'm trying to think what would be best to do with it... I first thought buy a bunch of gift cards... But I prefer to use my PC MasterCard to earn points so that doesn't help. Can I put cash in my MasterCard? As like an "overpayment"? Maybe not smart... Savings accounts I guess are an option.

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I don't quite understand how your savings account would negate the points on your MC. If you put the cheques in your bank account, then pay for your purchases with the MC, pay it off with the cash from savings....wouldn't you still be able to use the money *and* get PC points? That's what I do.

We are saving for a new car so it's all going to the car fund.

I put all these rebate cheques in my tax free savings account. This money is used for crazy hot deals that are not included in our regular budget. I can say that this money goes for building stockpile. ;)

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Originally Posted by sweet sparrow

I don't quite understand how your savings account would negate the points on your MC. If you put the cheques in your bank account, then pay for your purchases with the MC, pay it off with the cash from savings....wouldn't you still be able to use the money *and* get PC points? That's what I do.

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Oh I could. I just tend to not touch my savings once it's actually in there unless it's an emergency. Lol.


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I just put it in my checking account to pay for other bills. A dollar cash back is same amount as a dollar paycheck, I use them the same.

Every financial adviser would tell you this: If you have debt, pay it down first - from highest interest to lowest. If not, start saving for an emergency fund (3 months worth of expenses). When that's done, saving for your retirement.

Don't treat cash back as a windfall and waste it on shopping that's for sure.

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Originally Posted by EvilTofu

I just put it in my checking account to pay for other bills. A dollar cash back is same amount as a dollar paycheck, I use them the same.

Every financial adviser would tell you this: If you have debt, pay it down first - from highest interest to lowest. If not, start saving for an emergency fund (3 months worth of expenses). When that's done, saving for your retirement.

Don't treat cash back as a windfall and waste it on shopping that's for sure.

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We have been putting t away to fund a new bbq since ours is on its last legs. So saving for a planned expense :)

I combine cashback both from my credit card and cashback websites.