Free Money

Free money is available to some people who know where to look and how to qualify. Some of the various kinds of free money might include free money from government grants, free money to start a business, free money for a college education and more.

Here are some recent statistics from the United States federal government.

Recently there were over 1,000 federal grant programs available.

These programs offered a combined total of approximately $400 billion per year!

That amount is only the federal money available and does not include state and local sources that may also be available.

Sometimes people also get valuable assets or services "almost free." For example, one businessman we know of bought a historic building from a government auction for one dollar. He then fixed up the building and received tax breaks for restoring a historic landmark. What a smart guy huh?

There is always a "reason" that something is given away for free. To receive something for nothing you have to find out what the reason is for the generosity and then find out if you qualify for the situation and what kinds of strings might be attached. For example, according to a BusinessWeek news article, "some local agencies give small grants to businesses that locate in poor areas and guarantee jobs to people in an underemployed community." That is what we are talking about when we say the "reason" for the free money grant. In this case, the reason the government agencies are giving away grants is to stimulate the economy in parts of town that need a boost, and to provide jobs and help ease unemployment. When some companies can do these things, it helps the community, it helps people get jobs, it revitalizes a part of a town, to local government then gets more tax revenue, and everybody wins.

However, the same article in BusinessWeek magazine warned about the hype and sales pitches that often surround the topic of free money grants. They advise to beware of bogus claims of easy free money that anybody can get without any qualifications. We agree with BusinessWeek. You will to if you just stop to think about it for a minute. You know that money is not just laying around for anyone to stuff in their pockets. If it was, there would be a line of people down the street a mile long, right? Of course. The money comes with qualifications that must be met and conditions that have to be adhered to.

That doesn't mean it is impossible to get free money. It just means that people have to qualify, and they have to meet certain conditions. It is like getting a loan. If you have to go through some hoops to borrow money that you will pay back, doesn't it make sense you also have to go through some steps to get free money you never have to pay back? Of course that makes perfect sense. They can't just throw free money around indescriminately and give it away to anyone who happens to be walking by.

Another true/false senario is one where people wonder if there is really free money available for college. The answer is yes and no. There certainly are scholarships and grants available. This writer received thousands of dollars himself in the form of a free grant for college. And we know several people who are going to college right now on full scholarships. One young lady is getting an approximately $40,000 per year education with free money from a full scholarship. She only has to pay for her room and board and textbooks. How do people qualify for this kind of free money? Usually by being very hardworking and getting good grades and/or being good at sports or other activities.

However there really are some odd sources of money. We heard of is a scholarship set up by a famous comedian and to qualify for it you have to be the class clown. That is pretty funny. There are also giveaways that you can find online.

One of the most famous free money grants for college is the Federal Pell Grant. We explain more about this grant and others like it - such as the National SMART Grant, and the Federal Supplemental Educational Opportunity Grant - on our page about free college money.

Sometimes free money may come from private sources. An honor student we know of broke an arm during school sports activities and had to go to the children's hospital. The medical bill was thousands of dollars. But a wealthy retired person paid it in full. That person just likes to pay the medical bills of good kids whose parents may not have the money or the insurance to pay the bill at the moment. That kind of thing doesn't happen often, but it does happen. It would be a better world if more wealthy people helped kids in such a way.

Speaking of wealthy peope who help kids... how cool was Paul Newman? He created the Newman's Own food company that donates all of the profits to charitable causes. So far, since the inception of the company in 1982, it has donated approximately $200 million (so far) to thousands of charities worldwide. The company's tongue-in-cheek motto is "shameless exploitation in pursuit of the common good."

The world's largest charitable trust is the Bill and Melinda Gates Foundation. In 2002 Bill Gates and Melinda Gates of Microsoft fame set up a vast fund to help many charitable causes worldwide.  

And let's not forget the world's smallest free money source. We're talking about the humble coupon. For example, every time I take my car in to get my oil changed, I use a coupon worth ten dollars off the price. That is ten dollars in free money. I am always somewhat amazed that nobody else is doing it. Everyone else gets the coupon in the mail but they don't think to put it in their wallet. When I observe other customers at the business while I'm there, they are all paying full price. Not me, I have my free money, ten dollars, thanks to a discount coupon. I could use that free money to treat myself to lunch or to buy something for my kids, etc. This site reports on many sources of these humble free money coupons too, because even though they may not be large amounts, they are really easy to get. Easy free money... it's a good thing... even in smaller amounts.

The conclusion is, free money really is being given away by government agencies, private foundations, scholarship funds, philanthropists and businesses. It is given away in a variety of amounts and for a variety of reasons. Our goal here is to help you find the sources of free money and to give you the facts you need in order to avail yourself of as many opportunities as possible. Good luck, and be sure to let us know when you get some free money so we can share your success story with others.