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We have all heard the famous saying: “There’s no such thing as a free lunch.” So, when it comes to free money or gift, my natural reaction is always skeptical. But I’ve come to realize that there are actually many legitimate ways to get free money and it has actually helped me make (and save) thousands of dollars over the years.
Get Free Money From Paypal
When you sign up for free with Swagbucks, you can start earning points for doing things like shopping online, watching videos, searching the web and answering surveys.
If you have a long commute to work every day, you can use this time to get free money instead.
With the points earned performing easy tasks, you can either redeem for gift cards to Amazon and Walmart and Starbucks or get free money from Paypal.
For example, you can redeem a $5 Amazon gift card for only 500 points.
To get $25 for free from Paypal, all you need is 2500 points.
Is it legitimate?
Its review on TrustPilot is 4.3 out of 5 stars, based on more than 14,000 real customers’ reviews. It also has an A- rating from the Better Business Bureau.
So far, it has given out more than $300 million to its members in terms of gift cards and free cash from Paypal.
Get Free Credit Card Sign-Up Bonus From Banks
I travel a lot with my family, so I will apply for airline credit cards with free sign-up bonus miles as well as free lounge access. The free miles I get plus the miles I earn on all my spending can be used to redeem free flights and hotel stay.
For example, when you sign up for this Delta Skymile Credit Card with American Express, you earn 60,000 miles for free plus $50 statement credit when you meet their eligibility criteria.
Earn Free Cash For Opening Bank Account
Many banks offer free cash bonus up to $500. BUT, you have to read the terms and conditions very carefully.
This is because some banks require you to meet certain eligibility criteria to receive the free cash.
For example, to get the $300 cash bonus, you have to receive direct deposits of more than $2500 within 60 days in this new checking account. Also, let’s not forget that it has a $25 monthly maintenance fee if you don’t meet its criteria for fee waiver.
If you are cash strapped, the better option is to go for bank accounts with much lower deposit requirement like the one above (only requires a direct deposit of more than $500 within 60 days).
It also has a much lower monthly maintenance fee. And as long as you keep a minimum daily balance of $100, your monthly maintenance fee is waived. If you are students or young adults, you don’t have minimum balance requirement at all.
So, that is free $150 cash for college students with no strings attached.
Get Cashback From Your Shopping
Isn’t it great to get paid for buying the things you want to buy? All you need to do is to sign up for a free account with any of the legitimate cashback sites below and start earning ucashback on any purchases you make.
- Rakuten (previously ebates)
Let’s take Rakuten as an example.
When you sign up for free with Rakuten, you receive an instant $10 welcome bonus for free.
But, to claim the free $10 cash, you need to make a first time purchase worth at least $25.
It’s actually quite a good deal because it’s equivalent to getting a cashback of 40% for things you are buying regardless.
Furthermore, you can earn a $25 referral bonus for every friend that signs up through your invitation link.
You can sign up to Rakuten now to claim your FREE $10 cash bonus here.
Sell Your Old Stuff For Free Cash
If you have anything that you are no longer using in your house, you can easily list it on used good marketplace platfroms such as Letgo and Offerup.
I have been using these Apps mainly for selling and buying second-hand stuff like kids’ toys, board game and books.
Not only I get cash for getting rid of unwanted stuff in my house, but I could occasionally make money from flipping kids’ toys.
I was not intentionally trying to profit from doing arbitrage on second-hand items.
But, it just happened that I bought second-hand Thomas train tracks in really good condition at pretty low price, and then sold them away at a higher price when my boy stopped playing with them.
So, I was basically getting paid to let my son play with one of his favourite toys for free.
Free Money From Scholarships and Bursaries
I have been fortunate enough to get some government funding for college. Although it did cover most of my university tuition, I still had to take a student loan to pay for the rest of the tuition and also my living expenses.
If I didn’t have the free educational funding, I would end up with a much bigger student loan. So, that is a lot of money saved.
If you are interested to find out more on how to get scholarship and bursaries, you can check out this website ScholarshipAmerica
Free Money From Government (Tax Credit and Deductions)
Government often offers tax credit such as child tax credit and higher education expenses. If you meet their qualifying criteria, you can use your tax credit to offset any tax payable.
Here are some common examples of tax credit:
- Child tax credit
- Education credit (American Opportunity Tax Credit)
In the US, if you have children under 17 at the end of the calendar year, you could receive a tax credit of up to $2,000 per child. A tax credit reduces your tax bill dollar-for-dollar.
For example, you have 2 children, you can cut your tax bill by as much as $4000. That means if your tax bill is less than $4000, you literally don’t have to pay any tax at all.
Tax deductions are different from tax credit. Tax deductions are dollar amounts that you can subtract from your gross taxable income. In other words, it makes your taxable income lower, hence you pay a lower tax.
Here are some common example of tax deductions:
- Student loan interest
- Charitable donation deduction
- Mortgage interest deduction
- 401(k) contribution deduction
- IRA contribution deduction
Free Money From Your Employer
Match Your 401(k) Contribution
If your company offers an employer-sponsored plan such as 401(k) where it agrees to match the funds you contribute up to a certain amount. A typical match is 3% of your salary.
You should always make sure that you contribute enough to capture the match because that match is basically free money.
It varies from company to company.
Generally, it includes dental services, prescription drugs, and eye exams.
If you want to further your studies or take up courses to upgrade your skills, your company will offer to reimburse your education expenses.
Generally, you have to seek approval for the courses or programs you are interested in signing up. Once approved, you will have to pay for it yourself first. You will only get reimbursed when you have completed the course.
But, there are often conditions for getting free sponsorship for your education. For example, you have to agree to work for the company for a certain period of time once you have completed your studies.
Other miscellaneous benefits
There are other miscellaneous benefits.
Again, it varies from company to company.
For my friend, she gets an annual allowance of $500 for laptops and handphone purchases.
So, she will take advantage of it to buy for her parents and spouse.
I used to work for a financial company that offers compensations up to $200 a year for any books that I purchase.
There could be a lot of free money that you are leaving on the table. By using any one of the tips mentioned above, you could get up to a couple of thousands of dollars in free money that you might have missed.