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Ridiculously simple ways to get free money for your business

Lately, I have been obsessed with “free money” (aka. free cash) and if you're an entrepreneur like me, you probably love free stuff too! No, this is not a "get rich quick scheme" - it's about 3 simple financial habits that can put hundreds of dollars back into your business every month.

1 — Stash Your Cash In The Right Places
If you have money collecting dust in your checking account, take advantage of a high-yield savings account. It’s low risk, keeps your money accessible, and most importantly, you’ll earn interest!

It’s not the sweet honeypot it used to be, but a good savings account earns anywhere from 0.4–1% interest a year. A lot better than the average 0.03% on checking accounts, right?

2 — Get Rewarded For Spending Money
Using a credit card to pay for monthly expenses is an easy way to earn extra cash - if you get the right card and pay it off in full every month! To find the best expense-reward match:

  • Look at your financial statements and write down your top 2-3 expenses (e.g., travel, office supplies, a specific vendor, etc.)

  • Look for a card that gives you the highest rewards for those categories and ask yourself: How complicated is the reward structure? What combination of annual fee, sign-up bonus & reward earns you the most over 1–2 years?

3 — Get Rid Of Bad Debt
Few things kill your growth potential, like debt, because it keeps your cash tied up. If you have a cash surplus and a healthy emergency fund, consider paying a little extra to lower your monthly payments and free up money for other things.

on April 29, 2022
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    This appeals to me because I started planning for retirement in my 30s. Before that, I had not been saving cash in a 401(k) or IRA. I've always felt I was falling behind on my retirement savings, and since I want to retire in my 50s, adding dividend stocks and funds to my retirement plans seems like a viable option. That's how I work now to be able to live off dividends when I retire.

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    This comment was deleted 4 years ago