With inflation now at 3.4%, prices are climbing faster than they have in 40 years. But don’t worry—you can still stay ahead by finding ways to make money quickly or cut expenses. This guide covers how you can boost your cash flow and keep pace with inflation, even possibly getting ahead of it.
Best Real Ways to Earn Free Money
Investing is a great way to make idle cash work for you. Many investment apps not only help you make money but also offer bonuses for signing up.
- Robinhood: Open an account and get up to $600 in a new account bonus. It allows commission-free trading of stocks, ETFs, and cryptocurrencies, and you only need $1 to start trading.
- Webull: Earn free stock just for opening an account and making an initial deposit. Trade stocks, ETFs, options, and cryptocurrencies 24/7, commission-free.
- Public: Trade stocks, ETFs, cryptocurrencies, artwork, NFTs, and collectibles. It’s also an investment community for social interaction and tips.
- M1 Finance: Offers a sign-up bonus up to $500 for transferring balances. This robo-advisor manages your portfolio at no additional charge, automatically investing dividends and rebalancing your account.
- Stash: Perfect for new investors. Use their Stock-Back program to earn stock when you shop and get investment advice and tools. There’s a monthly fee between $1 and $9.
Best Ways to Earn Rewards or Free Money
Apps and cashback programs can also help you make some extra cash.
- Shopkick: Earn gift cards from over 80 online stores for everyday shopping.
- MyPoints: Earn points at over 2,000 retailers like Walmart and Amazon, and even get paid for surveys.
- Rakuten: Cashback from 3,500+ stores. New users get a $10 welcome bonus.
- Cashback Credit Cards: Earn cashback on purchases. For example, Chase Freedom Flex℠ offers 5% cashback on gas in the first year plus a $200 bonus.
Government Aid
If you need financial support, look into these government programs:
- Energy Bills: Programs like LIHEAP and Community Action Agencies offer help with energy costs.
- Scholarships: Websites like StudentAid.gov provide resources for finding financial aid.
- Down Payment Assistance: Over 2,000 programs can help with homebuying costs. Check with local real estate agents.
- Rent Assistance: The CFPB’s website can guide you to local rental assistance programs.
Best Ways to Save Money or Cut Back Spending
Lowering your expenses can free up more cash:
- Budgeting Apps: Tools like Trim, Truebill, Mint, and Tally help you track spending, reduce bills, and manage debt.
- Refinancing Loans: Look into personal loans to consolidate high-interest debt into a lower rate.
Least-Effort Ways to Earn Money
Make money from home with online surveys or get creative with side hustles:
- Survey Junkie: Earn money by taking surveys. Cash out via PayPal or gift cards.
- Swagbucks: Get rewards for shopping, watching videos, and more. Redeem points for gift cards or cash back.
- InboxDollars: Earn by taking surveys, reading emails, and grocery shopping.
Side Hustles
Creating a side hustle can provide consistent extra income:
- Start with ideas like blogging, freelance writing, garage sale flipping, or making money on social media platforms like Twitch, TikTok, and Facebook.
Bottom Line
There are many ways to either earn more money or cut costs to improve your financial situation. Whether you choose one method or several, every bit helps in managing inflation and boosting your income. How much you benefit will depend on your effort and needs, but it’s good to have these options.
