Are You Missing Out on Free Money? 7 Opportunities You Might Overlook

Mary Singleton
Published May 1, 2024

Are You Missing Out on Free Money? 7 Opportunities You Might Overlook
It's easy to miss out on financial opportunities that could provide you with much-needed funds.

Many people are unaware of the various programs and benefits available to them.

Here are seven ways you might be missing out on free money and how you can take advantage of these opportunities.

1. Unclaimed Tax Credits

Tax credits can significantly reduce the amount of tax you owe.

The Earned Income Tax Credit (EITC) is one of the most underutilized credits, benefiting low- to moderate-income workers.

Additionally, the Child Tax Credit (CTC) provides substantial savings for families with children. Ensure you're claiming all eligible credits when filing your taxes.

2. Government Assistance Programs

Programs like the Supplemental Nutrition Assistance Program (SNAP) provide essential food assistance.

Similarly, the Temporary Assistance for Needy Families (TANF) program offers financial support to help families achieve self-sufficiency.

These benefits can alleviate financial strain and help cover basic needs.

3. Utility Assistance Programs

The Low Income Home Energy Assistance Program (LIHEAP) helps low-income households with energy costs.

Many utility companies also offer discounts or payment assistance programs.

Applying for these can reduce your monthly bills, leaving more money in your pocket.

4. Healthcare Subsidies

The Affordable Care Act (ACA) provides subsidies to help lower the cost of health insurance for those who qualify.

Medicaid expansion in many states also offers free or low-cost health coverage for low-income individuals and families.

Don’t miss out on these opportunities to save on healthcare expenses.

5. Unclaimed Property

States hold billions in unclaimed property, including forgotten bank accounts, uncashed checks, and unclaimed insurance benefits.

Websites like this and individual state treasury websites allow you to search for and claim your lost assets.

Regularly checking these databases can lead to unexpected windfalls.

6. Employer Benefits

Many employers offer benefits that go unused, such as retirement plan matching contributions, health savings accounts (HSAs), and tuition reimbursement programs.

Taking full advantage of these benefits can provide significant financial gains. Check with your HR department to ensure you're maximizing your benefits.

7. Scholarships and Grants

Education is expensive, but numerous scholarships and grants are available to help offset costs.

Websites like Fastweb and the Federal Student Aid office offer databases of opportunities for students.

Applying for as many as possible can reduce the need for student loans and lower educational expenses.


By exploring and utilizing these resources, you can uncover "free money" that can significantly impact your financial well-being.

From tax credits and government assistance programs to unclaimed property and employer benefits, there are many ways to boost your finances.

Make it a habit to review these options regularly and ensure you're not leaving money on the table.

Learn how to ensure you’re getting every dollar you’re entitled to during tax season: 

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