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We're all a bit short of money now – or if not now, we worry about what the future might bring. You can get your hands on money quickly, however – there are many ways to ensure you are getting all of the financial assistance you are entitled to AND getting free money from many different sources.
How to Get Free Money:
- Apply for scholarships
- Claim credit back
- Use cashback sites
- Switch bank accounts
- Apply for benefits and tax assistance from the council
- Get paid to surf the web
- Reclaim your Student Loan Overpayments
- Change energy supplier
- Check your tax code
- Refer friends to schemes
Apply for scholarships
If you are on a low income or have financial problems, there are a number of grants you can apply for. However, finding it can be a time-consuming task if you do the search yourself. This is why we love the Turn2Us Grant Finder Tool, which allows you to filter grants that match your specific circumstances.
Even if you don't think you'll qualify for anything, take a look! There are loads of weird scholarships out there so you can find one to apply for – give it a try, too!
Remember, grants can affect your benefit entitlement. A high lump sum cash amount that will bring your savings to over £ 6,000 will reduce the universal credit currently received. If you have savings or assets over £ 16,000 (excluding your primary residence) you are not entitled to them. If you need a grant for something in particular, e.g. For example, for white goods, it is sometimes worth asking the grant provider to buy the item directly instead of sending you the money.
Claim credit back
Has your electricity bill been credited? Have you recently received a refund from your credit card – for example from a canceled vacation? These types of loans are easy to forget – but they are YOUR money and you have the right to reclaim them!
If you have credit with a supplier or credit card company, contact them to arrange for a refund to be made to your bank account. Some providers may take a long time to get back to you, but they are not allowed to refuse a refund. For example, if the credit card is no longer used, you will be entitled to this refund. For example, many people found they had zero credit on a credit card they used to pay for a vacation this year. That balance will now be thousands of pounds in credit – and some people may think that they can no longer deposit that money into their bank account. This is wrong! It's YOUR money, you can get it back. Talk to your credit card provider to arrange a transfer. You are also not allowed to charge any fees for this type of transfer!
Use cashback sites
Like cashback sites TopCashBack and Quidco offer incentives for you to sign up. Once you are a member and have completed a valid transaction, you will receive the bonus in your account. It's also worth signing up to both or more cashback sites. Not only do you get more sign up bonuses, but some retailers also have exclusive offers on certain websites so you can only get cashback from them. One account with each account maximizes your chance of earning cashback. It also means you can compare any website to get the best cashback rate for any retailer – some have the same deal on all websites, while others can have a difference of up to 10% – especially on specials and offers!
We love cashback sites because it's not really FREE – but you can get a decent return on things you wanted to buy anyway. Think of it like getting a discount on your purchases rather than free money. However, if you put your cashback aside, there is a lot you can do to make free cash. For example, transfer your cashback to a stock savings account – you could achieve high returns! If you have a Help to Save account or a lifetime ISA, you will see an additional increase in your cashback earnings of 50% (HtS) or 25% (LISA) which is really free money from the government. How fabulous!
Switch bank accounts
Banking operations have been suspended for a while this year – but they're back on the market! You can get money for free just to switch your bank account to a new provider. Really!
Make sure you are considered a "new customer" before switching. For some, previous customers may return after a few years; for others, you may not be able to take advantage of these offers if you have an account with a bank in their group, e.g. B. HSBC and First Direct.
Offers are always changing, but you can often secure yourself at least £ 100 just to switch your checking accounts. Check out the latest available offers before switching – and make sure you're eligible for payment criteria too. Often times, if you don't meet the monthly minimum deposits, the workaround is to deposit an amount, withdraw, and then return the same money. A decent gap!
Apply for benefits and tax assistance from the council
Even if you don't think you are entitled to benefits, it is always worth finding out. Eligibility requirements change from time to time, and your income may be different now than it was a few months ago, so you can qualify for them now if you couldn't before.
Universal Credit combines most of the benefits in one monthly payment. It is a household payment based on your total household income and assets. So it is paid to a partner in couples who live together. It covers things like unemployment benefits and unemployment benefits, and also helps with housing costs if you need help with your rent.
You can also qualify for other services, such as: For example, for the payment of personal independence if you have a disability, or for the care allowance if you look after someone.
Assistance to the Council
Your local council can also offer you additional support. If you live alone, remember that regardless of your household income, you can apply for a 25% discount for single occupancy. You may also be entitled to additional discounts if you live with a severely disabled person.
If you receive certain benefits such as universal loans, you may also be eligible for tax assistance from the council. Receiving benefits does not automatically mean you will receive CTS – and you will need to apply to your council separately for this once you have been approved for benefits.
With the recent pandemic, the councils also have additional hardship funds. If you are seriously struggling with homelessness, you can apply for additional hardship cases depending on your area. Please visit your community's website for more information.
If you receive the Universal Credit Housing Element, it may not cover your full rental amount. You can apply to your local council for a discretionary housing benefit payment that will top up the remaining rent that you have to pay each month to cover all (or most of) your housing costs. This is often only temporary and needs to be checked regularly. However, it can really help you gain some air.
Get paid to surf the web
You can get paid to do absolutely nothing else! This is true.
Ipsos and Nielson Both run incentive programs in which they record your (anonymous) behavior while surfing the Internet and pay you for the privilege. Many brands and companies are very interested in how people use the web – specifically what type of content they prefer and what types of devices they use – and that is exactly what research companies do.
You install the Ipsos or Nielson app on your phone, tablet, laptop, and desktop computer. Then just act like normal! It's easy to forget the app is there. The data is anonymously randomized so researchers never know your personal information or your history. This way, you can make extra money every month without trying. For example, the Ipsos app can earn you up to £ 130 a year.
Reclaim overpayments on student loans
If you've paid off your student loan in the past few years, you may be overpaid.
Of course, you will have to pay the money back at some point – but now that you have cash in your pocket, it is worth checking to see if you paid too much. For example, if your annual income has decreased significantly, you may not have had to make any payments.
Please visit the Government Student Loan Refund page for more information on how to get your money back.
Change energy supplier
If you have been with your energy supplier for a long time, you can benefit from a change of supplier.
By switching to a better plan, you can not only save around £ 460 per year, but also take advantage of welcome bonuses. Much like banks who pay you to switch accounts, utilities are constantly struggling to get as many customers as possible for the largest market share.
You may find that signing up with a new supplier comes with an incentive bonus of £ 25, £ 50 or even £ 100 on special offers. The money will be deposited into your account when everything is set up and ready to use. Once you become a customer, you can also make extra cash by referring your friends to the system for extra credits!
Check your tax code
Ah, taxes. We all hate them, but they keep the country going. Somehow. However, you could still be eligible for a tax break.
First, check your tax code. You may have an emergency tax code if you've recently taken on a new job or now have a second job. If you stop working later in the year (like many of us did in 2020), you could face a tax refund.
It's easy to apply for a tax break on the HMRC website.
Make the most of the marriage allowance
If you are married and one of you earns more than the other, you should apply for the marriage allowance. For example, if one spouse is not working and the other has a 20% tax rate, or you both work but one of you is earning less than the personal allowance of £ 12,500, it is worth filing. You can transfer a portion of your personal tax break to the higher tax earner in the relationship – and receive a discount of £ 250.
You can backdate this claim if you were married in any year after April 6, 2016. So if you were married in January 2016 you can claim four years tax break – that's £ 1000 in your pocket.
The marriage allowance can be stopped at any time. If you get divorced, it will automatically stop (and be aware that, in theory, you could be asked to repay any retrospective tax breaks you received during that marriage – although this is unusual). However, if both spouses later earn higher salaries, it is no longer beneficial to use the allowance, so it makes sense to quit them.
For more information on how to apply for (or cancel) the marriage tax break, visit the government website.
Refer friends to schemes
From cashback sites to your favorite store, so many brands offer friend incentives that you can make money for free!
When you subscribe to a service, review its referral schemes. Or ask your providers about their incentive programs. Even your local gym might offer a cash incentive (or a free monthly membership). Loyalty is a big thing for companies – and they know that people are more likely to use a product or service when someone they know and trust recommends it. Let these companies work for you – accept the offers of the referral scheme!
You can also go a step further if you have an online presence, e.g. B. on social media. Sign up for affiliate programs and advertise your unique link on your blog or website – that makes rolling income every time someone uses your link!
More ways to make money
Free money is something we all want – but it can be difficult to get at times. That's why we're happy to tell you how to set up passive income streams – set them up, sit back, and watch the money come in! How To Make Money Online And At Home.