We all want to save for our children’s future. Now, with KidStart Cashback, you can. It’s so important to start saving for our kids when they are young children to give them a good start to life. I don’t know about you, but I worry about my son’s financial security when he’s older all the time. I feel like it’s getting harder and harder to buy a house and live a comfortable life. What will it be like in 20 years?
Platforms like KidsStart make it easy to save for the future. This KidStart review will tell you everything you need to know about this service that will help build your child’s savings account while you shop.
- What is KidStart?
- Getting Started with KidStart
- The Cost of Using KidStart
- How Does KidStart Work?
- Withdrawals from KidStart
- KidStart Compared to Other Cashback Sites
- Retailers on KidStart
- KidSave Account
- Referring Others to KidStart
- Final Thoughts on KidStart
- Frequently Asked Questions about KidStart
What is KidStart?
KidStart is a revolutionary platform that links online shopping with saving for your child’s future. It operates as a free shopping club for parents, grandparents, and friends. With KidStart, a portion of your online spending at hundreds of renowned retailers is collected and deposited into your child’s savings account.
In essence, KidStart is a cashback site, but with a twist. The cashback you earn isn’t for you to spend on more shopping, but to contribute to your child’s or even grandchild’s financial future. This innovative model of saving as you spend is what sets KidStart apart.
Getting Started with KidStart
Starting your journey with KidStart is quite straightforward. Create a KidStart account, find the retailer you wish to shop from, click the link, and make your purchases as you typically would. Your earned cashback is then credited to your KidStart account.
You have the option to register your debit or credit card as well. This feature allows you to earn cashback even when you shop in-store from participating retailers. All you need to do is use the card linked to your KidStart account.
And the beneficiary of this cashback doesn’t necessarily have to be your child. It could be a friend’s child, a relative’s, or even a child who isn’t born yet. You can start collecting cashback now and decide later whom to donate it to.
The Cost of Using KidStart
One of the many perks of KidStart is that it’s free to join and use. There are no hidden costs or charges that you need to worry about. You can shop and save without having to fork out any extra money. So you are making earning cashback on the online purchases you would have made already.
How Does KidStart Work?
KidStart operates on the principle of cashback. When you shop through links on the KidStart website, the platform earns a commission for referring you to the retailer’s website. A majority of this commission is then transferred to you, which you can use to build a savings account for your child.
Family members and friends can also send one-off payments to your child’s KidStart account, for example for birthdays or Chirstmas.
Withdrawals from KidStart
The money you earn from KidStart is saved in your ‘Kiddybank’. This is then distributed among the children listed on your account. You can choose to distribute the money evenly or allocate it all to one child.
Withdrawals can only be made into a child’s savings account or bank account. This is done automatically once your child has £10 in their Kiddybank and is carried out at the beginning of each month. You can link any Child Trust Fund account, savings accounts that accept electronic cash payments, and most Junior ISAs.
KidStart Compared to Other Cashback Sites
When comparing KidStart with other major cashback sites, the cashback rates offered by KidStart are slightly lower. However, don’t let this discourage you. It’s essential to monitor your KidStart account regularly for promotions offering extra cashback from popular retailers.
KidStart also features a generous referral program. Encourage your friends and family to sign up, and once they reach £5, you receive £5 as well.
Retailers on KidStart
KidStart boasts partnerships with over 1,500 stores. There are many well-known retailers including Argos, B&Q, ASOS, GAP, Game, John Lewis, eBay, Sky, and Mothercare, among others. This vast selection gives you plenty of shopping options while earning cashback for your child’s savings.
Although KidStart used to offer cashback for Amazon purchases, this feature has been discontinued. However, don’t let this deter you. There are still plenty of retailers on KidStart where you can earn cashback.
KidStart has also introduced an option for a child’s savings account, which is a Junior ISA. You can contribute regularly to this account and split the savings between a cash fund and a share fund. There are charges associated with this kind of account, so you need to ensure it’s the right fit for you.
Referring Others to KidStart
KidStart offers a referral scheme. Recommend your friends to KidStart, and when they reach £5, you earn £5 too. This way, you can increase your child’s savings while helping others discover the benefits of KidStart.
Final Thoughts on KidStart
In conclusion, KidStart provides an easy and innovative way to contribute to your child’s savings. While the platform was more lucrative before the discontinuation of Amazon cashback, it still offers significant benefits.
By shopping through KidStart, you can earn cashback and contribute to your child’s savings account. However, for higher cashback rates, you might want to consider other main cashback sites. Regardless, KidStart is a great way to save for a rainy day and secure your child’s financial future.
Remember, every penny counts when it comes to savings. So, why not make your online shopping more rewarding with KidStart? Start saving for your child’s future today!
Frequently Asked Questions about KidStart
How does KidStart make money?
KidStart earns a small commission every time you shop through its website. A portion of this commission is given back to you in the form of cashback, while KidStart retains a small percentage to maintain the website.
Do my KidStart savings expire?
No, your KidStart savings do not expire. They remain in your account until you decide to use them.
How can I invite someone else to save for my child?
You can send an email with your unique invite link. Visit the ‘Invite Friends and Family’ tab on the KidStart website for more details.
How do I change my KidStart account settings?
You can change your account settings by visiting the ‘My Profile’ tab (Manage Account) on the KidStart website.
Can I close my KidStart account?
Yes, you can close your KidStart account by emailing them directly. You can find their contact information on the contact page or on any email correspondence from them. You can transfer your remaining balance to a selected account (there is a £2 admin fee for this).
Please remember that some of the terms and conditions may have changed since writing your post. It’s important to do your own research to find out which option is best for your kid’s savings accounts.