When I started reading other people's blogs about money saving tips, the ibotta app was forever being mentioned. It felt like people were raising it up like Rafiki raised up Simba at the beginning of the Lion King. I expected angelic lights and choruses when I signed up (which didn't happen, by the way).
For those not familiar, ibotta is a rebate app that let's you submit receipts in exchange for product rebates—usually in the range of 25¢ to 75¢. In reading about it, it sounded easy enough, and low, what's this? I could get a $10 bonus just for signing up? Free money? Heck Yeah! sign me up! (I know, not nearly as cool as the Lion King or a chorus of angels).
Granted, I was a bit too excited about the free money to read the fine print, which states that you need to redeem one rebate within the first week of signing up in order to claim the $10 bonus. Needless to say, I missed that boat. I did actually manage to claim a rebate within the first 7 days, but it didn't qualify (because there are caveats).
With this, I got discouraged. I failed to shop for the right stuff to claim my reward. It was kind of a bummer—like losing a $10 bill. The good news is, ibotta is always offering "bonuses." So even if you miss out on the welcome bonus, (and the 2nd week additional welcome bonus) like I did, you can still get rewards—just not as much. And while you don't have to be a big shopper or shop only name brands—you do have to be somewhat organized (which I was not).
So here's the scoop:
ibotta will give you one week to claim your welcome bonus, but you have to redeem one of the brand name rebates. The app lists both general rebates ("buy any cereal and get 25¢ back") and brand name rebates ("buy any 3 General Mills cereals and get 50¢ back"). For the first rebate, you'll need to claim one of those brand name rebates. They may not be the better of the deals offered, but you'll get that $10 welcome bonus if you do this.If you're not used to buying name brand stuff, this feels a bit like "working the system." (But whatever, your goal here is to get that welcome bonus—so work it!)
How ibotta Works
Step 1: Sign up for a new account
If you use my referral code: ryhyqtr, you can get the $10 welcome bonus. (if you already have an account, you won't be able to get the welcome bonus).
You'll need to have a PayPal account associated with the email address you use to sign up. If you don't have a PayPal account, you can set one up for free here.
Step 2: Select the stores that you normally shop. (ibotta isn't in partnership with every store, but pretty much all of the major stores are listed).
Step 3: Look through the rebates and save the items that you normally buy.
Some of the rebates are store-specific, but the ibotta app will state that in the rebate description. If it doesn't specify a store, then the item can be purchased at any of the stores in your list, even if you're under the "Target Rebates" section when you save the item. As long as the rebate description doesn't state "Target only," then you can purchase the item at any of the stores on your list.
Step 4: Make a list. I find it easier, when I'm grocery shopping, if I know what products and coupons / rebate offers I have. This is what my shopping list looks like (from my bullet journal printables):
[Download The Shopping List Printable For Free]
(Seriously, no strings. I don't want your email address. I'm not organized enough to send you a newsletter. I've got other stuff I need to be doing.)
I have a place for my grocery item, the sale price, the store coupon value, the manufacturer coupon value, and any rebate app offers. (In general, I fill one of these out for whatever store I'm shopping at. If I only need a couple things from each store, I'll use one list & put the store abbreviation next to the check box—i.e. Target = T, Walmart = W, CostCo = CC, etc.)
This helps keep me organized and let's me know which items are a better deal & where to get them. (I use this in conjunction with my price book, to help me figure out where to find the best prices).
Step 5: Shop for the items & save the receipts.
Read the rebate description in the app to make sure you're buying the right item. Sometimes it's very specific (i.e. Quaker Gluten Free Oats vs. Quaker Old Fashioned Oats). If you buy the Old Fashioned Oats but the rebate is for the Gluten Free Oats, you're S.O.L.
Step 6: Claim your rebates within the ibotta app.
There should be a green "Verify Purchase" button at the bottom of your screen. Click on this and follow the instructions. The app may have you scan the barcode of the item you bought (so don't throw away your packaging). Then you'll need to take a picture of your receipt.
Once submitted, ibotta will either accept or reject the claim. If they reject it, it's usually because the picture of the receipt was blurry (or the barcode didn't match the specific item in their offer)—so just try again. They'll send you an email stating the claim has been accepted and they deposit the amount of the rebate into your ibotta account.
Step 7: Once you reach the $20 threshold for withdrawing your money, you can tell ibotta to transfer the funds to your PayPal account.
You can also use the money for gift cards, which can be helpful over the holiday season. (Gift cards also don't take a percentage like PayPal might.)
More...
The rebates change every few weeks, as do the bonuses, so you'll want to check the app before heading to the grocery store.
If you're an active shopper, you can expect to save between $10-$20 / month which equates to between $120-$240 / year. I've read a lot of blogs that claim they save more & that's probably because they spend a lot more on groceries for their families than we do. We're only 2 people & we don't buy a lot of name-brand items (even with the rebate app).
Teamwork
Additionally, if you check the "Teamwork" box when you sign up (or in your account settings once you have signed up), you can work as a team with other ibotta members to collect even more rebates. This hasn't really worked out for me, then again, my team is only made up of 3 people, one of whom clearly NEVER shops.
Referrals
Once you've signed up, you can refer friends via Facebook to earn a $5 referral fee when they open up an account and claim one of those brand name rebates in the first week. (If they don't, then instead of a referral fee, you can bask in the knowledge that you are not the only imperfect or overwhelmed budgeter out there.)
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