45 Best Free Money Hacks to Supercharge Your Savings and Multiply Your Earnings

Are you looking for ways to get free money? Free money does exist, but it’s not about finding a magical solution.

Instead, it’s about smart strategies to maximize your existing resources and opportunities.

Let me show you some of the most effective and legitimate ‘free money hacks’ that can help you save, earn, and even invest your money wisely.

Focus On The Big 3 Expenses

The ‘big 3’ expenses are housing, food and transportation. These 3 budget categories will make up the majority of your costs.

In an article from Business Insider, the data found that the top 20% of American household incomes spend 57.2% of their budget on the ‘big 3’. While the bottom 20% of American household incomes spend 70.3% of their money on the ‘big 3’.

Pay Yourself First

A common personal finance tip and phrase you will hear is pay yourself first. What does it mean?

So often people will say they don’t have enough money to invest or save more. Therefore this root of this phrase refers to paying your savings and retirement investments first before your standard monthly expenses.

Don’t wait until the end of the month to invest whatever is left. Set up an automatic contribution that will still leave you with the necessary funds to cover your realstic budget outlined above.

Make A Plan For Your Debt

An anchor on your financial journey will be debt. In particular, any consumer debt with a high interest rate (credit cards, car loans, personal loans, some student loans, etc). It will be a weight slowing your trajectory or opportunity to make any momentum.

Your financial situation and specifics of your debt will dictate the best plan of attack for you. However, there are some popular techniques on getting out of debt.

Debt Snowball
Debt Avalanche

Again personal finances are personal so you have to formulate a plan that fits for you.

Pay Off Your Credit Card Every Month

This is a stone hardened personal finance tip. Of course there are specific scenarios where taking on credit card debt might be unavoidable (emergency, medical situation, etc.).

However, if you’re going to use credit cards you need to pay them off in full every month. If you have credit card debt, get out of it ASAP. The interest rates will cripple you.

Calculate Your Savings Rate

Some people recommend calculating your savings rate as being the most effective personal finance metric.

The general calculation is straightforward. Savings rates = income – expenses / income.

As your income grows, so too should your savings rate. That’s how you will make serious money momentum against your financial goals.

Find Your Debt To Income Ratio

Another financial metric you can leverage as part of your tracking system is your debt to income ratio.

This is often overlooked and under discussed in the personal finance community. However, this data point will likely come into play when you look to take out a mortgage or borrow from any lender.

How do you calculate it?

To calculate your debt-to-income ratio, add up your total recurring monthly obligations (such as mortgage, student loans, auto loans, child support and credit card payments) and divide by your gross monthly income (the amount you earn each month before taxes and other deductions are taken out).

Build An Emergency Fund

An emergency fund is intended to keep you above water should an unfortunate emergency does arise.

Call it a weather the storm fund, the bunker of your finances or fallback account. The point here is clear, this a cache of money stowed away to survive when life hits you in the face with a dose of unfortunate circumstances

A common recommendation is to build your emergency fund in phases:

Save the first $1,000
Increase that to 1 month of basic expenses
Build that to 3-6 months of living expenses

Estate Planning

Being prepared for unfortunate scenarios can be daunting or morbid, but it’s always necessary. Should the unthinkable happen, you should want to have peace of mind that your loved ones will be taken care of.

Estate planning isn’t just for wealthy individuals. It’s for everyday people and a personal finance tip we should all prepare. Especially if you have kids and dependents financially reliant on you.

Life Insurance

What kind of life insurance do I need? If you’ve ever thought that, don’t worry you aren’t alone. It’s a common curiosity as you look to protect yourself, your family and your money.

Unfortunately, this is a pretty specific question to consider. If you have a family versus no dependents, children versus no children, ongoing financial obligations versus debt freedom and other factors.

If you’re young, with no children, debt free and no one would be negatively impacted financially by your death, you probably shouldn’t worry about it.

Again this is one of those scenarios where spending money to speak to a professional may be worth the investment.

Cashback and Rewards Credit Cards

I made $500 using these apps for my regular spending. You can earn cashback or rewards points.

My favorite app is Rakuten, formerly known as Ebates, is my go-to best cash back app for all online shopping. They’re paired with hundreds of retailers, who sell products from electronics to clothing—and even hotel reservations and plane tickets. While I normally use Rakuten from my laptop, they also have a mobile app.

Sign up for Rakuten and get $30 after your first purchase.

Just be sure to pay off the balance each month to avoid interest charges.

Loyalty Programs

Many retailers, restaurants, and service providers offer loyalty programs that reward you for frequent purchases.

Bank Account Bonuses

Some banks offer cash bonuses for opening a new account and meeting certain deposit criteria.

I will not recommend any particular bank, as there are always fine print details behind those bonuses and referrals that I cannot read for you.

I made mistakes a couple of times by only reading the catchy headline offering me $100 for “free.” You guessed it; these were not exactly free.

Use GPT Sites

Use GPT sites to make extra cash in your spare time. I’ve been doing this for a couple of years. Some of my favorite sites include:

Survey Junkie: Survey Junkie is my go-to place to make money online in my spare time. All you have to do is answer surveys to earn cash and gift cards.

Swagbucks: Swagbucks is another massively popular rewards platform. Make money doing surveys, watching videos, and more.

InboxDollars: InboxDollars is a sister site of Swagbucks and lets you earn by uploading receipts, completing shopping offers and watching videos. It also has cash surveys, games, and a $5 sign-up bonus for new members.

Branded Surveys: Branded Surveys is an app like Survey Junkie. Share your opinion to get free gift cards and PayPal money! Share your opinion to get free gift cards and PayPal money!

Cashyy: Cashyy is an Android gaming rewards app that lets you earn PayPal money and a variety of gift cards for downloading and playing new mobile games. You’re getting paid to download mobile games and to play them. The more games you download and the longer you play, the more you earn.

Solitaire Cash: Solitaire Cash is an iOS and Samsung game that lets you play Solitaire for money. The app lets you compete in cash tournaments against other players of similar skill levels. Tournament games cost money to enter and pay anywhere from $1 to $55+.

Mistplay: Mistplay is an Android app to earn free gift cards for playing new games.

Referral Bonuses

Many services and apps offer referral bonuses when you invite friends to use their service. Check all the paid apps you’re using, probably all of them have some kind of incentive.

If you need help, check out this list of money-making and money-saving apps offering referral and sign-up bonuses.

Automated Savings Apps

Apps like Acorns that round up your purchases to the nearest dollar and save the difference can help you save money without thinking about it.

Government Rebates and Incentives

Depending on where you live, there might be rebates for energy-efficient appliances, solar panels, or electric vehicles.

If you’re an EBT user, we’ve got you covered with these food stamp hacks to save even more on your SNAP benefits.

Survey and Research Participation

Participating in surveys or research studies often pays a small amount. You can make money with sites like Swagbucks and Survey Junkie by completing surveys whenever you have a spare moment.

This could be while waiting to pick up your child from school, during your lunch break at work, or while watching Netflix before bed. Btw, there are many apps like Survey Junkie should try.

High-Interest Savings Accounts

Putting your savings in a high-interest account can earn you more than a standard savings account.

Sell Unused Items

Do you have some old board games or fine china to sell?

Selling those items you no longer need on platforms like Facebook Marketplace, Craigslist, or eBay can be a quick way to earn cash.

Couponing and Discount Apps

Using coupons and discount apps for groceries and everyday purchases can save a lot of money over time.

You might think those days are gone, but there are many ways to get coupons in the mail.

Free Educational Resources and Scholarship

There are many ways to get paid to go to school.

Utilize those free online courses to improve your skills or apply for scholarships if you’re a student. This can save money on education or help advance your career.

Utility Savings Programs

Some utility companies offer programs or discounts for reducing energy usage during peak hours.

Public Transportation Incentive

Some employers offer incentives or subsidies for using public transportation, which can save you money on commuting.

Library Resources

Libraries offer more than just books; they often have movies, music, and even tools available for free rental, which can save on entertainment costs.

Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs)

If you have access to these accounts through your employer, they can save money on medical expenses with pre-tax dollars.

Government-Assisted Programs

Depending on your situation, you might qualify for government assistance programs that can help with food, health insurance, and childcare costs.

Energy-Efficient Home Upgrades

Investing in energy-efficient upgrades for your home can lead to long-term savings on utility bills.

Bulk Buying and Wholesale Clubs

Buying in bulk or through wholesale clubs can save money on groceries and common household items.

DIY Projects

Learning to do basic home repairs or projects yourself can save a lot on labor costs.

Community Events and Free Entertainment

Look out for free community events, museum days, or public performances to save on entertainment.

Gardening and Growing Your Own Food

If you have the space, growing your own vegetables and herbs can save money on groceries.

You don’t need a huge budget to start a garden, as there are many ways to get free seeds, free compost, and even free land, but you’ll have to put in a lot of manual work.