My Financial Broker is a credit broker and not a lender. Warning: Late repayments can cause you serious money problems. For help, go to https://www.moneyhelper.org.uk/
They say you can’t get something for nothing… but there are ways to get free money, even if it does take a few minutes of your day. We’ve looked at six of the simplest ways to get free cash below! None of these methods take a lot of effort, and could earn you hundreds of pounds!
If you’re looking to make a purchase with a particular company, why not see if you’re able to get any freebies too! If you were buying an item anyway, any deal is essentially free money. Although in a lot of cases this will be a discount, such as 20% off your first order, there may be other offers available as well. Certain businesses will offer a monetary bonus when you join, particularly if you’ve been referred by a friend or third party.
In some cases, the reward will be a voucher, like an Amazon voucher. And because Amazon sells just about everything, it’s basically comparable to getting cash. The same goes for earning cryptocurrency – this can be exchanged for Bitcoin, which in turn can be sold on if you wish. Signing up with Coinbase can automatically earn you cryptocurrency, and there are plenty of other businesses you can find online that will do the same.
Did you know that if you recommend a product or service to your friends, and they make a purchase, you’ll often get a reward alongside them? This way of getting free money is incredibly low effort, and you can get pretty substantial rewards. As with many of the methods we’ve looked at, you might be eligible for cash or other benefits, but either way, it’s a free reward!
The main thing to keep in mind with referral schemes is to check all the companies you use, and see if they have a programme. This could be referring individual products or services, an app, or a brand. Hopefully the organisations you’re already working with have a referral programme, so that you can start raking in the cash for minimal effort on your part!
Entering competitions can get you free money, and unlike with the lottery, you don’t even need to pay for a ticket. These types of competitions have a much higher chance of success too. There are hundreds, if not thousands, of free competitions running throughout the country on any given day, and you could win a vast array of prizes. These may include items, cash, or experiences.
To give yourself the best chance of success, try to enter at least a few dozen free competitions a week. The trick is finding these competitions – they are across a range of platforms, from social media to individual business websites. If you’re stuck, try searching hashtags like: #freecompetition #win and #competitions.
Most of us are too lazy to switch banks – it seems like a lot of effort, and your current bank is bound to try to convince you to stay with them. But it’s probably not as hard as you think to change banks! You can usually do this online, and there are even companies that will help you switch, like the Current Account Switch Service.
Some banks or building societies will offer cash incentives, vouchers, or free insurance when you sign up with them. You can get as much as £100 if you do switch, and you may be able to do this on a fairly regular basis. Just remember to read all the terms and conditions before committing to anything, as there is a chance that you won’t be eligible for the offer.
We all know that you won’t earn a lot of interest through your bank account. So where should you invest your money? One of the best things you can do is open up a Lifetime ISA (LISA), which can earn you as much as £1,000 a year. To qualify, you’ll need to deposit at least £4,000 into your LISA in a tax year, which runs from April to April. And if you don’t have that much disposable income, anything up to £4,000 will earn you a 25% bonus from the government.
The drawback of the LISA is that you can only withdraw the money for specific reasons. You can use the money to buy a house, or withdraw the funds as a pension when you’re aged over 60. If these things don’t apply to you, you may wish to look into other ISA options.
Chances are, you’ll be familiar with getting cashback already. If you do a lot of online shopping (and most people tend to buy everything online these days) you might go directly to the site, or via a cashback website. Where possible, it’s a good idea to use the latter, as you’ll have the same basic shopping experience, but your purchases will be tracked, and you’ll get a refund of the total purchase price. This could be a percentage or a set amount.
A couple of popular cashback sites include Quidco and TopCashback, both of which include big retailers, as well as websites like Amazon. And while you may not get loads back – the maximum is around 5% – it’s definitely worth doing!
It’s also worth bearing in mind that you can often get cashback, as well as discounts, with supermarket chains. If you don’t have a Tesco Clubcard or a Nectar card, for instance, it’s time you got one! You can save money on your shop, and earn points you can redeem at a later date.