34 Ideas to Get Free Money in Canada in 2023

The term ‘free money’ might sound too good to be true. After all, there are no free lunches in this world. Articles that talk about ways to earn free money might sound like a scam but the truth is that you can receive free money thanks to special offers, nifty hacks, and hidden benefits.

We have covered some of the best and most reliable ways to find free money in Canada. They all work and can help you collect or save a decent amount of money without having to do much. Let’s have a look.

Turn your internet connection into free money

Pawns.app is an ingenious platform that allows people everywhere, even in Canada, to cash in on their extra internet bandwidth. By sharing your internet and filling out surveys, you can generate some extra income that can be redeemed as cash, Bitcoin, or various gift cards.

All you have to do is download the app, register for a free account, and watch your internet connection line your pockets. Better yet, refer friends and family to the platform and make even more passive income off their earnings. For every successful referral, Pawns.app will pay you 10% of their earnings FOREVER!

Look for class action lawsuits

Hear me out! No one is suggesting you try and sue random companies. But sometimes they’re found to have misled customers or broken the law. When that happens, they may be ordered to pay restitution. If you used their product or service, you could be entitled to a payout from these class action settlements. The most recent examples I can think of are Loblaw’s price-fixing scandal and Tim Horton’s app privacy breach.

In the case of Loblaws, they weren’t ordered to pay restitution because they were given immunity from prosecution. But they did offer eligible customers a $25 gift card as an apology. All you had to do was register on a specific site and answer a few questions to get your gift card. Boom, free money! That program is over now, but there are others so keep your eyes on the news.

The Tim Horton’s app was caught collecting user data without consent. They settled the class action by giving eligible app users a coupon for a free hot drink and baked-good.

Start credit card churning to get free money

Credit card churning is a nifty hack that involves signing up for new credit cards just to get the welcome offers, such as free points or cash bonuses. This trick can help you make a decent amount of money. It might not be suitable for everyone because applying for a credit card can impact your credit score.

Get new credit cards only if you’re sure you’d be able to handle the responsibility. Also, use them very wisely as overspending could cause serious financial hardship.

The key lies in signing up for a new account, snagging the welcome offer, and then moving on to a new card. Still, do it while keeping an eye on your credit score, because too many credit checks can damage it.

Get paid to take online surveys

Enjoy sharing your opinion with others? Join paid survey sites like Branded Survey, Pawns.app, Survey Junkie and Swagbucks to earn up to $10 per survey. We consider this free money because you will not have to do much to earn cash through these sites.

These survey sites pay you for completing online questionnaires that will usually ask your opinion on certain products or services. Most platforms have a minimum threshold before money can be withdrawn and some might even pay more.

For example, Pawns.app pays an average of $1 per survey and the minimum withdrawal amount is $5, which means you’ll be able to reach it within a few minutes.

Plus, some of these companies also offer free product samples that you can use or sell on the secondary market to earn more free money.

Look into crowdfunding

If you have a unique idea or cause that people may be willing to donate money to, you can use crowdfunding platforms to raise funds. But this is not free money to bankroll your lifestyle or stash away for a rainy day. Crowdfunding campaigns are typically reserved for aspiring entrepreneurs and important causes. Think of platforms like Kickstarter for business ideas and GoFundMe for charitable donations.

Crowdfunding requires a unique idea or compelling story, clear goals, and often some rewards for donors. Successful campaigns can fund things like new startups, product development, personal emergencies, medical bills, educational expenses, community projects, and more.

Rent out your car when you don’t need it

Working from home is the new normal, which means you probably don’t need your car as much as you used to. Turo, often referred to as the ‘Airbnb for cars’, offers a unique way for you to make up to $1,000 per month or more with minimal effort.

If your car meets Turo’s eligibility requirements you can list on the platform. Turo will suggest a price based on market value, location, time of year, and other data, but the final decision is up to you. When a driver has booked your car, you’ll arrange a place to meet them to hand over the keys. At the end of their trip, they return the car to you.

After each trip, Turo will directly deposit your earnings into your bank account. Don’t worry, Turo provides up to $2 million in liability insurance and covers physical damage to the car. But it’s still crucially important to let your current car insurance provider know so that you don’t unintentionally void your coverage.

Join a crypto platform & refer your friends for free money

This might sound too good to be true but there are some crypto exchanges that offer free digital coins to new users and/or existing users who refer their friends and family. This can be a great option for people who want to earn free money without putting their own hard-earned bacon at risk.

However, this trick may not be for everyone as it usually comes with conditions. For example, you’ll get $30 when you join Bitbuy and fund your account with at least $250 CAD. If you don’t have that much money on hand, then you won’t qualify for the bonus.

Other platforms might have restrictions like not being able to withdraw it until you have traded it a number of times. Look for the best cryptocurrency platforms that offer sign-up and/or referral bonuses in Canada.

Bitbuy also gives users a $20 cash bonus when someone signs up with your unique referral code and funds their account with $250 CAD. Always read the fine print for the offer so you qualify for your free money.

Cash in on your birthday

Here’s a fun way to win free money. Make your birthday a memorable event by finding brands that offer special gifts on birthdays. Both online and offline stores qualify and there are usually no tough requirements to qualify.

Denny’s can be a great place to start. It offers an exciting Grand Slam meal that consists of bacon, eggs, sausages, and pancakes. Some other restaurants offering free food on your birthday include Harvey’s, IHOP, and What A Bagel.

Interested in something else? Kiehl’s, Clinique, and Clarins offer some exciting birthday freebies. However, there are certain requirements. In most cases, you will be asked to provide valid ID to verify your birthday. You may also have to pay shipping, sign up for a loyalty program, or spend a specific amount of money. Goods that you receive for free can be used or sold for free money.

Go from a premium credit card to a no-fee card

Premium cards are exciting. After all, they come with some great benefits. But, they’re not always suitable. A premium credit card can end up being very costly, especially when you’re not spending enough to fully benefit from all the perks.

You can save money by replacing your premium card with a no-fee credit card. The latter may not have the same perks, but it could help you save a lot of money and ensure your credit report doesn’t suffer. Some of our favourite no-fee rewards cards include:

• Neo Credit Card: up to 15% cash back
• Tangerine Mastercard: up to 2% cash back
• BMO Air Miles Mastercard: up to 3 Miles per $25

If a credit card is off the table for you, we also love these prepaid credit cards:

• Neo Money Card: up to 15% cash back
• KOHO Prepaid Mastercard: up to 5% cash back
• Wealthsimple Cash Card: 1% cash back

Don’t let cheques go to waste

The government offers a variety of tax benefits for Canadians to incentivize certain behaviour, such as investing in clean energy. These benefits are usually issued through cheques that don’t always get claimed. Sometimes things like GST cheques get lost in the mail too.

Log into your Canada Revenue Agency account and look for a list of cheques you haven’t yet cashed. You’ll have to sign up for a CRA account to login. Announced in 2020, this feature has helped thousands of Canadians get free money. Have a peek at your account and see what’s waiting for you.

Are you forgetting something?

Remember the feeling of finding a forgotten $20 bill in your old jeans? It’s the same as finding a few dollars sitting in your old bank account. It’s more common than you’d like to think.

Canada’s central bank distributed more than $15.2 million to forgetful account holders in 2021 with the oldest account balance going back to 1913. Things haven’t changed much as there were more than $1.06 billion in unclaimed balances last year.

An account is considered unclaimed when the owner cannot be contacted and money has been left untouched for 10 or more years. Worried about your money lying around? Visit the Unclaimed Balances Registry and add your name to the list. You could come back with free money.

See if there are special offers for people your age

Governments like to reward seniors for their hard work through the years. These rewards can often come in the form of free money. The most common of these is The Old Age Security pension for people aged 65 or more. Consider this option when you’re sitting with your retirement calculator and planning for the future.

Under this program, you may be eligible to receive free money of up to $642.25 per month. Another program worth considering is the Guaranteed Income Supplement offer, which could earn you up to $959.26 per month depending on factors such as your marital status and income.

Negotiate with your mortgage company

Believe it or not, it is possible to negotiate the mortgage rate down. The bank or provider is interested in getting paid and most will accept a lower rate if it means getting paid.

This option is available for both new buyers and existing homeowners who wish to refinance a mortgage. Look for a reliable mortgage company in Canada and understand how to choose the right mortgage so you can save money.

Lose weight, get free money

Need some motivation to lose weight? Try HealthyWage, a platform that allows users to earn money by losing weight. The average HealthyWage user makes about $1,300 with some earning up to $10,000.

It’s an exciting way to not just make money but also to lose unwanted fat. The company allows users to set personal goals or take part in team challenges. It’s a betting system where you will earn money only if you win the bet. You will lose your money if you don’t reach your goals.

Those who want other options can look at Sweatcoins, a startup that rewards users for walking. You will earn Sweatcoin for reaching goals with the average step-to-Sweatcoin conversion rate standing at 65%

Go green to get subsidies

Climate change is a real concern and governments are now heavily moving towards sustainability. They now offer subsidies to individuals who opt for energy-saving upgrades such as solar panels.

These subsidies are offered in the form of discounts and tax credits and can run into the thousands of dollars. This is in addition to hundreds of dollars you’ll save on your energy bill.

There are even more rewards for businesses. You don’t have to invest a lot to enjoy these benefits thanks to programs like Emissions Reduction Fund and Energy Innovation Program. Some of these offers have a deadline so move fast.

Switch to a zero-commission online brokerage to earn more free money

It is time to bid adieu to your traditional broker and find a zero-commission online brokerage house to manage your portfolio. This will allow you to save money and walk home with a hefty profit. However, remember that these online brokerages may not charge you a commission but there will still be other charges and they’re usually not completely free.

Maximize your TFSA & RRSP contributions to make more free money

It’s now possible to grow your wealth without having to worry about taxes thanks to Tax Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans  (RRSPs). These can be filled with investments such as stocks or cash. This will allow you to enjoy a great share of the profit as all forms of gains including capital gains, dividends, and interest are tax-free. Also, investing in an RRSP will reduce your taxable income and you might even be able to increase your savings through employer contributions.

Make the bank give you free money!

The interest rate in Canada is pretty low, but if you look around you will find decent savings accounts offering much MUCH higher interest on deposits. Rates are usually in the range of 0.5 percent to 2.5 percent with some banks even offering sign-up bonuses as high as $50. Look for one that meets your requirements and start with a deposit. Some of our favourite high-interest accounts include:

• Wealthsimple cash: up to 5%
• Koho: up to 4.5%
• EQ Bank: 2.5%
• Neo Money Account: 2.25%

Open an RESP to get free money for your kids

Registered Education Savings Plans (RESPs) are designed to allow you to save for the future of your children. In addition, you might qualify to receive free money through the popular Canada Education Savings Grant program. It involves a matching program where the government will contribute 20% of your deposit with the grant maxing out at $7,200 per child and going as high as $500 per year.

Another similar program is the Canada Learning Bond that is designed for middle and lower-income families where the amount goes up to $2,000 per child. You’ll be eligible for these benefits just as you open an account for as long as you meet other requirements.

Give yourself a raise with free money!

If you’re not contributing your group pension plan at work, you’re leaving free money on the table. Many employers in Canada offer a group of Registered Retirement Savings Plans (RRSPs) as part of your benefits package. When you contribute a portion of your pre-tax salary to a group RRSP, your employer will match a certain percentage of your contribution, which is free money for your retirement. 

To take full advantage of this, you’ll need to contribute at least up to the percentage that your employer matches. For example, if your employer matches up to 50% of your contributions up to 5% of your salary, you should try to contribute at least 5% to get the full match. This essentially gives you an immediate 50% return on your investment, a deal that’s hard to find anywhere else.

Talk to your insurance provider

You might be able to reduce your insurance premium by talking to your provider. Reducing insurance premiums for cars is quite easy. Lowering your annual kilometre count, reducing your coverage, and increasing your deductibles can be of help.

On the other hand, home insurance can be a little tricky. The best option is to change your deductible and make changes to your house so you can qualify for discounts such as safety discounts. Moreover, working with agents and improving your credit history can also do the trick.

Turn your spare room into free money

Got an unused room? Put it up for rent on Airbnb. The average Airbnb host in Canada makes $19,844 per year, making Canada one of the best markets for Airbnb hosts. Luxurious homes with add-ons such as pools and jacuzzis can even earn you up to $200 per day.

Airbnb charges a small fee for its service, 3%, and offers perks such as secure payments and ease. Also, the company doesn’t have any minimum commitment requirements. Write a neat bio and upload good photos to attract more visitors.

Turn your pool into free money

Have a backyard pool? Consider renting it out and makeup to $100 per hour. Very well-constructed and maintained pools and backyards can even help you make up to $250 per hour in Canada. This is considered free money as you will not have to do anything since guests will pay just for renting the space and most will bring their own toiletries.

Swimply can be a great place to start. According to the official site, the average pool owner makes between $5,000 and $10,000 per month on average. The right price depends on factors such as the size of your pool, location, added amenities, and season.

You could be missing out on government benefits!

We have already discussed some perks and benefits in this article but there could be a lot more to look at. There are a variety of grants and rebates that offer free money. Checking each one individually can take a lot of time. Fortunately, Canada’s Benefits Finder Tool is there to make the job easier. This tool can help identify programs that you might qualify for. Visit the site, enter the required details, and look at what you’re missing.

Convert clutter into free money

Do you have old furniture, books, and other items lying around? They could be worth a lot. Get antiques appraised and find a dealer. For household items, you can hold a garage sale or turn to platforms like Kijiji, Craigslist, eBay, and Facebook Marketplace.

Get free Bitcoin and sell it for free money

Crypto platforms often offer free cryptocurrencies to new clients. These digital coins can be used to trade currencies on the platform or get free money. ShakePay has proven to be quite popular in this niche as it gives out free coins for just shaking your phone. Plus, you can earn more free money by referring your friends and family.

Earn free money with cash back apps

Cash back apps can be a great way to make free money. These apps offer a rebate on valid purchases or provide discount coupons for future use. The usual rate is between 0.5%-2% but some apps may offer higher rewards.

Most apps will allow you to transfer money to a bank or online account once you hit the threshold. Look for apps that support your favourite online stores and make regular payments. Also, consider setting up alerts for discounts on your preferred products and stores.

Choose a cash back credit card & get free money on purchases

Choose a credit card that offers more than just discounts, but also excellent cash back offers. There are a variety of cash back credit cards in Canada including some that come without a fee. The rate differs from provider to provider with some offering up to 15% cash back on specific purchases. This can be a great way to save money but remember that you will have to make monthly payments.

Switch to a low-interest credit card

The average rate of interest on credit card debt in Canada is around 20%. If you consistently carry a balance, then look around for low interest credit cards. Many credit cards even have a 0% APR offer on balance transfers. A credit card payment calculator can help you calculate the true cost of owning a credit card.

Look for a better chequing account

Chequing accounts may appear similar but they differ in terms of fees and features. If you look around, you’ll find some no-fee checking accounts that can help you save a decent amount of money. The monthly fee in Canada ranges between $3 and $12 per month. With a no-fee account, you’ll save up to $140 a year.

Consider switching your internet & phone provider

Shopping around, haggling with your phone and net provider, and paying attention to your monthly bill can help you save a lot of money. Bundling can be a great option to slash the bill. If it doesn’t work for you then look for low-cost providers and special deals. Lowering your usage can also be effective. If nothing works then consider negotiating with the provider.

Some popular discount internet providers include Can Com, DistribuTel, Virgin Plus, oxio, and more. Popular discount cell phone plan providers include Public Mobile, Chatr, Freedom Mobile, Koodo, and more.

Make use of coupons

Being a couponer can help you save up to 7% on your grocery bill. Some companies even offer more savings with special discount coupons for loyal and new consumers. The key lies in knowing where to find coupons and actively looking for the best offers.

There are even mobile apps that allow users to set up alerts for the latest coupons. Also, make sure to keep an eye on your email as some companies send discount coupons through emails. Read the fine print and make sure to not miss the deadline as most coupons come with an expiry date.

Invest with a robo-advisor to earn more free money

Financial advisors are important but often very expensive. While the human touch comes with several benefits, it can be very costly. Why waste money when you can turn to robo advisors?

Some robo-advisors have no signup fees and most only charge between 0.25% – 0.50% percent of the portfolio value. In comparison, human advisors charge around 1% per year with some having very high minimum balance requirements. This makes robo-advisors more affordable.

Also, robo advisors are said to be quite reliable as well. They are very good at portfolio management and automatically buying and selling assets. However, remember that, unlike human advisors, robots may not be able to diagnose and solve your personal financial issues.

Consider debt consolidation

Debt consolidation refers to consolidating a variety of liabilities or loans into one. Doing so can help improve your credit score and streamline your budget. Technically speaking, you will not be making more money when you choose this option but you may get to save money that can be used for a variety of purposes.

You will have to find a cheaper loan for debt consolidation to be advantageous. This may result in a lower interest rate and reduce your monthly payments. However, there may be some additional costs such as balance transfer fees, annual charges, and origination fees.

FAQs about getting free money in Canada