Comments on: Money Saving Monday: Saving money with points

By: January Roundup

January Roundup — Sat, 02 Feb 2008 18:27:17 +0000

[...] Little by Little – Money Saving Monday: Saving money with points. I think this is a cool way to save some money. I just signed up for MyPoints [...]

By: Becky

Becky — Wed, 30 Jan 2008 18:01:17 +0000

I also signed up through your link. Thanks for the info and idea to make some extra $$!

By: justin

justin — Wed, 30 Jan 2008 16:47:06 +0000

You can call it whatever you want, it’s still income. Whether it’s taxable is another question. If your employer paid you in GIFT cards, do you think it wouldn’t be income?

Friends and family can give you up to 12,000 dollars worth of gift before it’s taxed.

Mypoints is paying you to do something, it doesn’t matter how it comes. I am NOT saying it’s taxable, I don’t think it is. Whether it comes as cash or check or gift card doesn’t make any difference though.

By: FranticWoman

FranticWoman — Wed, 30 Jan 2008 16:18:19 +0000

If it is a gift, why is it considered income?
When I receive a gift card from a friend or family member it isn’t income and MyPoints is sending a GIFT card. I don’t see why it isnt considered a gift in that instance.

By: justin

justin — Wed, 30 Jan 2008 15:18:08 +0000

@Franticwoman: A giftcard is just as much income as cash. Whether or not either are considered income to the IRS is another question, but if say, you worked at Target and were paid in Target gift cards, you will still owe income tax on those gift cards.

By: FranticWoman

FranticWoman — Wed, 30 Jan 2008 15:14:42 +0000

I forgot how I discovered MyPoints, but I’ve been using it since Aug 2006. I’ve already earned one $25 gc to Target and another for $50. It came quick after requesting it too.

I dont make any purchases without going to MyPoints first! I’m buying things I normally would – but now earn stuff instead! I just booked a hotel room thru them – they linked me to Orbitz – 3 points per $ ! I would have done that anyway…nice to get a reward.

A gift card is a good idea too….that way I dont have to worry about potential extra income that might be taxable.

PS: I also use MemoLink. It is the same concept, but I don’t find it so friendly; but, I’m on my way to earning $10 soon, so I shouldnt complain.

By: glblguy

glblguy — Wed, 30 Jan 2008 11:02:15 +0000

@JadedTLC – Well, I don’t know the details about what the advertisers think, but I am sure they are privy to the idea and provided with stats on click throughs. I am sure they know, AND pay to be part of the program. Companies are not stupid, nor do they spend their money unwisely, so they know the benefit vs. the payout.

I get no spam as a result of MyPoints, most the advertisers give you an option and an opt-out. The companies on MyPoints also have to conform to strict guidelines MyPoints has set up.

Check it out a little more and I think you’ll find it’s a good and reputable program. I wouldn’t recommend it if I didn’t feel strongly it was a good program for my readers.

@Deamiter – Good points. They are paying for exposure. Sort of like using StumbleUpon.

By: Deamiter @ handlingfinances.com

Deamiter @ handlingfinances.com — Wed, 30 Jan 2008 08:25:29 +0000

Don’t the companies advertising with the points sites understand the business model of the points sites? It seems to me that the points model might be rather lucrative as people are minorly rewarded for actively clicking on an ad, and promised even more points if they purchase from the advertiser. If the companies that make the ads really don’t know that they’re being presented as part of a points program, I could see your point but I don’t think that’s the case (not that I’ve actually researched it or anything).

As for the spam, again, I don’t see anything fundamentally wrong with selling your information and getting junk mail in return. I wouldn’t do it myself, but it’s not inherently evil or anything.

By: JadedTLC

JadedTLC — Wed, 30 Jan 2008 04:48:25 +0000

Ugh those my points programs. Please reconsider using them. Basically they are scamming advertisers out of good money because the advertiser thinks you’re an interested person when you click those email links. Then when you don’t purchase, the advertiser thinks they just aren’t doing the ads correctly when that wasn’t the case.

Also if you use my points, you’re just selling your information to my points to sell to other folks. I guarantee your junk email and junk snail mail will increase at least threefold. Sorry, i wish i had blogged about it.

By: NoDebtPlan

NoDebtPlan — Tue, 29 Jan 2008 19:18:39 +0000

I just signed up with (I'm guessing) your affiliate link. Hopefully that helps you out. Worth a shot, right? I use FatWallet for additional cash back on purchases I would have made regardless.