Students could ease debt by shopping in a slightly different way

This week, many young adults will begin their life at university, as well as their journey into thousands of pounds of debt. There is, however, a simple way to ease the financial burden of student life. Shopping online via cashback company Quidco.com helps people earn money while they shop, and could help students cut their annual debt by as much as an eighth.

Whether buying midnight takeaways, the weekly grocery shop, concert tickets, clothes or several beers down the pub, there are vouchers and cashback offers online to suit.

Instead of going directly to a retailer’s website, shoppers go to the cashback site and search for the retailer of their choice. There they will find a list of the offers and discounts available and a link to the shop’s website. The shopper can then click on the link, buy as normal, and a proportion of what they spend will be returned to them in cash.

The cashback comes from the commission that Quidco receives from retailers for sending them customers. So every time a member makes a purchase, the retailer pays Quidco which then passes it on to the member in full. Users can also benefit from instant discounts using voucher codes and printable vouchers for use in stores.

By calculating a student’s purchases and activities during a year of university, and the savings related to these items available on Quidco.com, he or she could save in the region of £955 per year. The cashback offers range from 8% cashback on electricals to as much as £100 cashback by switching gas and electricity to a particular provider. Cashback is also available for new credits cards and current accounts, as well as TV and internet bundles.

Matt Hudson, a Phd student from Manchester, said: “I joined Quidco two and a half years ago to save money on all of the coursebooks I needed. Since then, my use of the website has grown and I now buy my groceries, train tickets and holidays through Quidco. I even save a load on eating out with the help of their vouchers section. As a result, I save about £500 every year.”

Hannah Green, PR Manager from Quidco.com, said: “University can be an expensive experience, making every penny earned and borrowed precious. With so much to buy every September, students cannot afford to ignore the discounts that are available to them.

“With offers from over 2,300 retailers on Quidco.com, students will find savings on all of their essentials for the university year.”