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When you’re broke, it feels like you’re always going to be broke. It’s a never-ending cycle. You don’t have money, so you miss a bill and rack up a late charge — that you can’t pay. Because you’re broke.
The first step toward getting yourself out of this cycle is to build up a little financial cushion. Let’s call it your emergency fund. How’s $1,000 sound?
Even if you feel like you’re stuck, we’ve got eight tips to help you out. And if you follow them all, you could have an extra $1,000 (or more!) in two months’ time. It’ll be worth it — and it doesn’t have to be hard.
We’ll break it down for you week by week:
Week 1: See if You Can Get Money From This Company
Here’s the deal: If you’re not using Aspiration’s debit card, you’re missing out on extra cash. And who doesn’t want extra cash?
Yep. A debit card called Aspiration gives you up to a 5% back every time you swipe.
Need to buy groceries? Extra cash.
Need to fill up the tank? Bam. Even more extra cash.
You were going to buy these things anyway — why not get this extra money in the process?
Enter your email address here, and link your bank account to see how much extra cash you can get with your free Aspiration account. And don’t worry. Your money is FDIC insured and under a military-grade encryption. That’s nerd talk for “this is totally safe.”
Week 2: Withdraw $5 to Own a Piece of Amazon, Google or Other Companies
Take a look at the Forbes Richest People list, and you’ll notice almost all the billionaires have one thing in common — they own another company.
But if you work for a living and don’t happen to have millions of dollars lying around, that can sound totally out of reach.
That’s why we like the app Stash. It lets you be a part of something that’s normally exclusive to the richest of the rich — buying pieces of other companies for as little as $1.
That’s right — you can invest in pieces of well-known companies, such as Amazon, Google or Apple, for as little as $1.
The best part? When these companies profit, so can you. Some companies even send you a check every quarter for your share of the profits, called dividends.
It takes two minutes to sign up, plus Stash will give you a $5 sign-up bonus once you deposit $5 into your investment account.
Week 3: This Research Company Will Pay You up to $225/Month to Watch Videos
This week, you’re going add a little extra cash to your savings stash. But guess what? You don’t even have to leave your couch.
InboxDollars will pay you to watch short video clips online. One minute you might watch someone bake brownies and the next you might get the latest updates on Kardashian drama.
All you have to do is choose which videos you want to watch and answer a few quick questions about them afterward.
No, InboxDollars won’t replace your full-time job, but it’s something easy you can do while you’re already on the couch tonight wasting time on your phone. Plus, it’s extra money you can put toward paying down your debt. Everything helps.
InboxDollars won’t completely pay off your credit cards, but it’s possible to earn up to $225 per month watching these videos.
It’s already paid its users more than $56 million.
It takes about one minute to sign up, and you’ll immediately get a $5 bonus to get you started.
Week 4: Let This Website Pay Off Your Credit Cards
Wouldn’t it be nice to skip your credit card payment this month? It’d give you a little extra breathing room to focus on starting your emergency fund — without having to worry about actually missing the payment.
Every month, you’re paying huge credit card bills, thanks to those insane interest rates. Yeah, your credit card company is ripping you off — and getting rich along the way.
But as weird as it sounds, the answer might be a personal loan. Hear us out. A website called AmOne can pair you with a lender who can loan you up to $50,000 to pay off all your credit card debt at once. Then, you just make one monthly payment on your loan.
It might sound counterintuitive, but the truth is, this could lower your monthly payment, save you tons of money in interest over time, and allow you to pay off your debt faster.
AmOne won’t make you stand in line or call a bank. And if you’re worried you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars. Totally worth it.
Plus, no credit card payment this month.
Week 5: Cancel Your Current Car Insurance
People love to tell you to shop around. “You should be getting three different quotes to get the best price on car insurance,” they say.
Sure, this sounds like good advice. Here’s why it’s wrong: Comparing only three companies isn’t nearly enough. We suggest comparing 40. But who has time for that?
A company called Gabi will do it for you for free. It gets people an average of $825 back in their bank accounts a year — and you’ll get the same coverage you already have.
It doesn’t matter when you last renewed; you can get a check from your old company for the time left on your previous policy. (Read: They probably owe you money.)
You don’t have to make any calls or fill out any forms. It takes two minutes to see how much Gabi can put back in your pocket. And the best part? Because we’re driving less, some insurers are slashing prices this month.
Week 6: See if the Government Owes You Money
Let’s start with the most fun option. One you might even have fantasized about: Someone comes along and just hands you the money.
We know it sounds far-fetched, but we’re serious. State treasuries throughout the U.S. have more than $43 billion in unclaimed funds, according to The New York Times. Just sitting around! Waiting for you to come play lost and found.
Wanna check for yourself? Go to the National Association of Unclaimed Property Administrators website, and enter your name and state.
Penny Hoarder reader Kelli Howell heeded our advice and found money in her husband’s name. He was entitled to $56 from a matured insurance policy. Sure, it’s $56, but that’s not bad for an unexpected check, right?
When you’re trying to build an emergency fund, you can’t beat free money.
Week 7: Download This App to Get Up to $500 in Free Stock
Imagine if you had bought one share of Amazon for $18 when the stock first went public. Today, it would be worth more than $20,000 — despite all the ups and downs in the market.
Here’s the thing: The sooner you start investing, the better — even if it’s during a pandemic. And we found a company that will give you free stock to get started.
An investing app called Robinhood will give you up to $500 worth of free stock in companies like Visa, Microsoft and GE, just for downloading its app and opening a free account.
Robinhood is free and easy to navigate, which is why more than 10 million people use it — including both news junkies looking to outsmart the market and people who want to carefully put a few bucks away in a long-term investment.
It takes just a couple of minutes to sign up and get your free stock — you may even just get a share of the “next Amazon.”