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The key to the hobby of refunding is organization. This is a hobby that can pull in lots of cash easily if your system of record-keeping is good.
As far as supplies are concerned, your needs are simple. One thing you cannot do without is a good supply of envelopes since your refunding earnings are based upon what you send out and receive by mail. There is no need to buy expensive stationery. The cheapest envelopes will do. Regular white letter-size envelopes can usually be bought in quantity at low prices. Stock up on these. If you happen to know someone who stocks greeting cards, they are usually happy to give away their extras. These card envelopes are fine for sending in rebates and most other refunding correspondence you may have.
The next necessity is postage stamps. Keep a supply of postage on hand at all times. Also, a small postage scale can save money by eliminating wasted postage. If you do not have a scale, be sure to have your mail weighed at the post office if you think you might need additional postage on a letter.
You will need a file to hold your rebate forms. This can be a child's shoebox for starters. As your supply of forms increases, you can move up to adult-sized shoeboxes. Cut dividers out of cardboard and label for each month of the year. The month written on the divider is the month that the rebate form expires. Make two sets of these dividers so that you will have enough for two years worth of forms. You will see the need for this later, as you acquire rebate forms with expiration dates far in the future.
You will need another small file with months labeled so that you can keep track of the rebates you have submitted. This should be a file which holds small index cards. On each card write the name of the rebate, the address the rebate was mailed to and the expiration date. Also include the date the rebate was mailed. Most rebates are paid within four to six weeks so this can help to keep up with overdue payments. If you receive the wrong amount or nothing at all, this information will make it easy for you to contact the redemption center for rebates. When you receive a rebate check, you can go to this file and mark the card "paid". Keeping this file up to date will lessen the chances of you submitting a duplicate rebate. You now have all the information needed to track your earnings. Some refunders even devise complicated spreadsheets for this purpose but this is not necessary.
If you decide to do trades of rebate forms etc. with other refunders, you will need a notebook to keep track of these trades. Other refunders can be a valuable resource in successful refunding. You can greatly increase your volume of rebates with the help of other refunders. Try a few trades out to see if this is for you. You can find potential traders listed in refunding magazines or on internet message boards devoted to refunding.
When your refunding shifts into high gear, you will need a way to account for your money if you want to keep accurate records on what you make. Some stores will cash your rebate checks on the spot or apply them to your grocery bill. I prefer to deposit my rebate checks into a special refunding account. This way, I always know just how much I am profiting from my refunding.
I also keep a log of my coupon savings from week to week. I normally save about 65% on my weekly grocery bill, which makes a big difference in the budget. Just put each grocery receipt into an envelope and add up the coupon savings at the end of the month.
By using the methods described here, you will be well on your way to becoming the best kind of refunder--an organized refunder.
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