11 Easy Ways to Get Free Money

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Free Money. Who’s ever heard of such a silly thing? What are you going to offer me next, a $500,000 beach front property in Bali?

Well believe it or not, there is free money out there. Some of it might even have your name on it. It won’t simply fall from the sky, and you might have to put in a bit of legwork in order to channel some of it your way, but there is cash out there waiting to be claimed. It might as well be claimed by you.

Read on to learn about eleven easy ways you can get your hands on some of it today!

1. Unclaimed Funds

Think for a moment … how many different bank accounts do you have? If you were to die tomorrow would your heirs know all the different accounts you have money stashed away in? The Financial Times conservatively estimates that there are £77 billion in unclaimed funds in the UK alone. You might be entitled to some of that. It’s worth asking some questions and digging around a bit to see if a slice of those billions has your name on it.

2. Cash Back Credit Cards

If you regularly use a credit card for purchases, it’s foolish not to switch to a cash back credit card. These cards allocate a percentage of your purchase amount, which is allocated back to you as cash. If you are lucky to secure a good cashback deal, it just might be a worthwhile strategy to put all your spending onto the card – groceries, petrol, household bills – in order to reap the greatest benefit. You spend on all your usual monthly expenses but get an extra reward at the end of the month for doing so. Just be careful you make it worth while because these cards typically have an annual fee.

3. Cash Back Websites

There are several cash back websites, but how do they work? If you are planning to order a new television or a week’s groceries, it is worth checking some of the cashback sites where you might get a percentage of your purchase price as a cashback bonus by clicking through the cashback site in order to make your purchase.

Some things to watch out for: some charge a joining fee, and most have a minimum payout threshold, meaning you have to earn a minimum amount before they will send a payment to you. Before you rush in, it is worth considering if you will use it enough to benefit.

If you are savvy, you can use your cashback credit card to make purchases through a cashback website and double up on your free money!

4. Loyalty Programs

Similar in many ways to cashback or frequent flyer credit cards, the loyalty program allows to earn points when you spend. There are far too many loyalty programs to list, but they all work in the same manner by rewarding you for spending your money at a participating store. As you keep spending you earn more points, which you can eventually cash in and spend on goods. It’s easy money.

5. Switch Bank Account

In order to sign up new bank account holders, banks will offer a one off bonus for switching to them as long as you can meet their criteria, ie. salary being deposited into the account for a certain period of time. If you tick all the boxes, then it would be foolish not to benefit from the offer of free money.

6. Green Grants

If you live in the UK, you have until April 2010 to apply for up to £2,500 in free money to implement green initiatives such as installing solar panels on your roof. Not only will you get free money to help install the panels, but you will have long-term savings on your household heating and electrics bills, and that’s something to smile about!

7. Free Money From Work

Some employers are willing to contribute a percentage of your salary into a pension fund, or to match your own personal contributions. If you are fortunate to be offered such a deal, you should grab it with both hands. Just think an extra 5% of free money every month being contributed to your long-term wealth? The thought might help you get out of bed on a Monday morning.

Also see if your employer offers assistance with insurance, free health care vouchers, or dental and optical cover – it all adds up to money you don’t have to spend from your pay packet.

8. Educational Grants

Anyone looking to go back to school, or to undertake any training, should look into all the sources of grants and scholarships which are available to fund higher education. There are a range of government initiatives, as well as charities and foundations, who offer sums, both small and large, towards further education. All you have to do is put in a bit of time to track them down.

Grants aren’t just for young people either. There are adult learning grants up for grabs to contribute towards the study costs of mature students.

9. Sell Stuff

This isn’t exactly free, but is more about releasing equity which is locked up in all the junk you have hanging about your home.

All those clothes you never wear, old mobile phones you never use, books you never read, and CD’s and DVD’s you never play all have value. Set yourself up at a car boot sale or have a go at selling stuff on eBay and fill your wallet with cash while you clear your nooks and crannies of old junk.

10. Government Car Scrappage Schemes

The credit crunch may have wreaked havoc on economies around the world, but it has hit few industries harder than the automotive sector. To try and breath life back into car sales, some governments (such as those in the United Kingdom, France and Germany) will actually give you money for your old banger when you trade it in for a new model. Car scrappage programs are available (at the time of writing) in Germany, France, United Kingdom, United States, Italy, Spain, Portugal, Austria, Romania, Slovakia, Luxembourg and Holland.

11. First Time Home Buyer Grants

So this isn’t ‘free’ money, but it’s still essentially money for doing something you were going to do anyway. Provided you are a first time buyer and you meet qualifying criteria for a home loan, you may be eligible for a grant in several countries where these grants are available including Australia and many states in the United States.

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