Shebudgets
Times are tough, as are the numbers on many of our bank accounts. Many of us get to a point where we’ve done all we can do in our career and we begin to look outward for additional ways of bringing in some extra income. While perhaps not as lucrative as holding down a job of sorts, cashing out on different means of bringing in free money on the side can certainly keep things looking up. Here are the top then ways of going about doing that in 2016.
1. Government Programs
I can’t speak on behalf of every federal and state/provincial government, but, odds are, you live in a place that offers tax benefits and regular checks of some sort. Looking through your government’s official website (on both a federal and state/provincial level), you’ll notice benefits you weren’t even aware existed. This is arguably the best way to get free money. Check out the Government Website for full info.
2. Human Studies
Human studies don’t always have to consist of taking weird and possibly dangerous drugs; some of them may have you sitting around playing video games, lifting weights, or a variety of other normal things that you may or may not already do on a regular basis. Doing it in a lab can get you hundreds or thousands of dollars depending on the study. ClinicalTrials.gov is one example of a place that offers potential participants the chance to sign up for these studies. Some of them may involve taking weird pills, some of them may involve sleeping. The potential is truly limitless and there’s sure to be something that suits you.
3. Donating Blood
If you’re already the type to donate to causes, donating blood can really pay off. Depending on where you live, there can be hundreds of dollars a month waiting for you with an hour or two of sitting around watching TV or reading magazines over that same month. If you’re already the type to donate in any form, this is essentially free money.
4. Take Advantage of New Account Offers
Many companies will offer those who open a new user account free money just for doing so. Many times, banks will pay up to hundreds of dollars simply for opening an account. Here’s the thing, though. If you weren’t already planning on opening that bank account, you’ll likely pay more in fees than you’ll receive through their promotion. If; however, you’re planning on opening a bank account this month, it makes no sense not to at least keep an eye out for offers of this sort. Bank accounts aren’t exclusive to these types of offers either. Getting your prescription at a new pharmacy, getting a new credit card and many other things offer these promotions on a regular basis.
5. Download Passive Income Phone Apps
You won’t get a lot of money from these, but they’re completely free. Apps which track your phone’s data usage and website visits among other things are willing to pay users to run their app in the background whenever their phone is on. There is literally no work required outside of the minute it takes to download the app. Users may get anywhere from $20 to $200 on an annual basis depending on which apps they use and how often they leave them running. Often times, there are multiple apps which can be run simultaneously, further increasing one’s earning potential.
6. Rent Out Your Computer’s Resources
There are programs available wherein users can set a time of day (preferably when they’re not on their computer (at work, in bed, etc.)) where people all around the world can use their computer’s resources for an agreed upon hourly rate. These are not high paying (anywhere for 1 to 50 cents an hour, depending on the quality of one’s computer), but they act as 100% passive income with no work necessary. The catch is that running your computer costs money. I don’t know what your energy bill is like, only you do. For that reason, you’ll have to find a price to rent out your resources that more than pays for its energy cost. I will say, though, that computers running at half power (which is likely in the case of renting out resources) may use less than 100 watts hourly, which is a relatively small amount of electricity. It’s all about finding that sweet spot and churning a profit.
7. Use Rebate Programs
Ebates is an app for smartphones and tablets, as well as a computer program, which pays users every time they shop. Users shop through the app (which almost acts like a browser) and they get pade every time they make a regular purchase. There is no catch and no work involved whatsoever. You simply open the app and shop online as you normally world. It’s easy, it’s safe, it’s free money. It should be taken into account; however, that spending more than you normally would due to receiving rebates will likely leave you with less money in the end. The trick here is to shop as you normally would and forget about the rebates all together. Just take it as a pleasant surprise with the money rolls in at the end of every month.
8. Use Your Credit Card
This may seem obvious to some, but to others who aren’t always on time with their payments, credit cards can just seem like an added expense. Credit cards offer cash back – you’re essentially getting paid to buy things! As long as you only buy things you’d usually buy, but with credit instead of cash or debit, you’re getting free money going about your day-to-day life. Just make sure to pay those bills on time, or your interest will quickly eat through any potential profits from your cash back.
9. Paid Web Searches
There are several places that will pay you to use their search engine. SwagBucks is a good example of this. While users aren’t able to sit at their computer and type in searches all day for extra money, those who use the search engine naturally – as they would with Yahoo! or Google – will be rewarded a small amount of cash or other rewards on a frequent basis.
10. Be Smart About Your Savings
That $20,000 in your checking account isn’t really doing a lot for you. In fact, I’d wager it’s not even keeping up with inflation. Putting that money in bonds or even a high-interest savings account is a great, low-risk way to ensure that your money is doing something for you, otherwise you’re essentially putting it under the mattress. Even if you have a small amount of savings, $100 annually is a very realistic number to shoot for if you do it right. If you already have money sitting around, it may as well be doing something for you. This is the most consistent, sure-fire way to count on getting at least some sort of passive income every year.
While none of these will make you rich, using some or all of them in conjunction is a great way to walk out of each fiscal year with that much more money in your pocket. I wouldn’t recommend for a second that anyone quit their day job and live on free money (otherwise everyone would be doing it), but it certainly can’t hurt to be that much more well off.
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