Top Strategies to Stop Missing Out on Free Money

Top 8 Ways You Could Be Missing Out on Free Money

Do you ever get the nagging suspicion that you could be earning more money for free? Keep reading to see how to get that money back.

1. Leaving money in a zero-interest checking account: If you have cash sitting in a zero-interest checking account, you are missing out on interest income, and you are actually losing money to inflation.
2. Not using a high-yield savings account: The national average savings account interest rate is currently only 0.46%. You can do so much better than that!
3. Not getting your employer match on your 401(k): If you have a job with an employer-based retirement plan like a 401(k), you could be missing out on free money.
4. Not investing in IRA accounts: Along with a 401(k) or other workplace retirement plan, many people can qualify to put money into another tax-advantaged retirement account called an individual retirement arrangement, or IRA.
5. Not paying off high-interest debt: If you are carrying a balance on your credit card and paying interest each month, you are likely paying an annual rate of over 20% APR.
6. Not using a health savings account (HSA): If you have a qualifying high-deductible health plan (HDHP), you are eligible to use a health savings account (HSA) to save money for healthcare expenses.
7. Not using cash back apps: Have you ever wanted to get free money just from shopping? Now you can.
8. Not using rewards credit cards: If you have good credit and aren't vulnerable to overspending or forgetting about payment due dates, you can take your free money hunt to the next level with cash back rewards credit cards.

Bottom line: You're probably missing out on free money right now, by not getting tax breaks, interest income, and cash back rewards.