Rebates do work -- sometimes better than you think! (or how I got back $15 more than I spent, legally)

When I talk about rebates, people usually have a reaction that they're too much trouble, or you don't really get the money back... but I can tell you rebates work. Earlier this year I got back $180 in rebates when I spent $165 on software! Yes, I got back $15 more than I spent, and got some useful software for free. If that isn't a great deal, I don't know what is.

Staples was offering free software by rebate when you bought some tax preparation software. I have been using this tax software for the last few years, and had gotten familiar with the timing and types of their rebates at Staples. In past years, the rebate involved just some related tax software and some money-management software but this year the deal offered up to 9 software titles free with purchase of the tax stuff. Some of it was quite useful, like an art software program that I would have wanted anyway.

Of the 9 titles, I picked the 4 that I could really use in addition to the tax program and planned to buy them. The way it was set up, I would end up spending about $15 after all the rebates -- and since I needed to buy the tax software no matter what, that would've still been OK. But in the newspaper midweek, Staples ran an ad with a coupon for an additional rebate. Not one tied to the software package but a general rebate of $30 back if you spent over $150 the next two days. Well, the five software titles added up to $165, so -- whoop-de-doo! -- I could go for that rebate too!

So I bought the five software items and was on my way. One of the things I appreciated about this store is they automatically print extra receipts for you if a rebate is involved. They were printing me so many receipt copies I felt bad for the trees. Then it was just a matter of checking each offer to see if there were any special proof-of-purchase requirements or additional items. One item required a software registration card filled out, and on another there were actually 2 rebates that added up to the full price, so for one offer the proof was a UPC code and the other had a proof-of-purchase logo in the inside flap when you open the box.

I filled out the forms, made copies (an important step), and sent them off. Another benefit of many companies now is that they will e-mail you confirmations of rebates, so it's easier to keep track. Over the next 6-12 weeks (because different companies process them differently), I got my checks... all $180 got rebated, so it felt great. With the benefit of having gotten a bunch of really useful software.

To me, finding and using rebates becomes a matter of rhythm and familiarity. Once you use them a bit, you realize that most of them follow similar rules. And although there always seems to be a lot of fine print at the bottom, it looks overwhelming because they have lots of info about restrictions for groups, and other legalities. Usually the parts of the legalese at the bottom that affect individuals wanting to submit them are the date by which it must be postmarked and whether they allow P.O. Boxes.

The proof-of-purchase requirements and receipt are usually standard, and on just about all the offers I've seen the requirements aren't buried in the fine print, they are fairly conspicuous. Normally they are the UPC code, the receipt and the rebate form. But you have to check to make sure. Sometimes they specify an additional item or step, a slightly different proof-of-purchase, circling the price on the receipt, or some other nuance. If you deal with the same retailer often, you'll also get used to their rebate pattern and what they typically request.

Even with all the checking of details and filling out forms I would estimate that most rebates really only involve 5-10 minutes of time. So they're not as intimidating as they might seem.

Staples also created a system where you can just register online for many of their rebates so you don't even have to send in UPC codes or anything. And you can track your rebate as well.

And the companies do follow through on their rebate offers. When I talk to some people, there seems to be a belief floating around that the rebates never really come back. But that hasn't been my experience at all. To me, they've become a great investment of a little time and strategy. As I say in my blog, finding a great deal is like a game, and with rebates it's easy to feel like a winner!