While the notion of free money might sound a bit like a gimmick, there are actually a few ways to get money at no cost and with little or no effort. In fact, the ideas listed below don’t even require a lifestyle change; they simply call for some awareness of the opportunity to claim free money and then the follow-through to turn the knowledge into cash.
1. Don’t Turn Away Money From Your Employer
Of course this does not refer to bonuses and pay increases that are tied to your work performance. These type of reward for effort payment schemes are usually well above the radar and whether or not you actually manage to qualify for them is solely dependent on your employer’s satisfaction with your quality of work. However, if you don’t pay enough attention to the financial perks that come along with your employment contract, you may actually be missing out on free money.
One of the most popular ways employers grant their employees free money is by offering a retirement match account. This instantly creates a one hundred percent return on your investment (usually up to a certain upper limit) and not taking advantage of this great perk is like turning your back on free money.
2. Sign Up for a Cash Back Credit Card
Many of the major financial institutions offer a cash-back credit card. These cards typically come with an annual fee attached, so it is important to properly evaluate your level of spending before you switch to a cash-back option.
If your spending level is sufficient to qualify you for a cash-back that is potentially larger than the annual fee then it could make perfect financial sense to make the switch.
3. Take Advantage of Government Grants
The government has an extremely long list of programs and services for different income brackets that cover different life stages and life expenses. You may be able to qualify for a first-time home owner grant that could take care of your down payment, or you may find that you qualify for educational assistance that can lift a hefty burden off of your shoulders. It might take some time to wade through the programs offered and figure out what you can qualify for but the potential savings and free money could be tremendous.
4. Pay Attention to Your Taxes
Finally, you may be paying excessively high taxes. Sure, nobody really enjoys handing over part of their hard-earned cash to the government and this does not mean you should try to find ways to hoodwink the IRS. There are a number of legal ways to pay fewer taxes simply by learning how to shelter your income by using instruments that qualify for larger tax breaks and allowances. Every country has different tax laws and sometimes these laws vary from state to state or province to province so you should consult a tax professional for advice if you are not versed on the matter.