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AMERICANS are waiting for a fourth stimulus check to be sent out, however doubts have been raised about whether or not this will happen.
However, there are nine ways to raise extra cash in case a fourth stimulus bill is not passed.
Americans are hoping for a fourth stimulus checkCredit: Getty
1. Lighten student debt interest
Refinancing private student loans to one with a shorter term could see interest rates drop by more than two percentage points, Yahoo Finance reported. This could save an average of $17,000.
Also, Americans who have a federal student loan will not have to pay back their money until October.
2. Uncover long-lost money
According to the National Associated of Unclaimed Property Administrators, 1 in 10 Americans have money in bank accounts that they have forgotten about.
Research shows that the states return $3billion in unclaimed property to its rightful owners every year too.
Americans can use MissingMoney.com to find out if they have left any money in an old checking or savings accounts by searching through state databases.
The IRS has also put out a last call for $1.3million in unclaimed refunds from 2017. Americans should check with the agency to see if they have any unclaimed tax returns.
There are other ways for Americans to make extra cashCredit: Getty
3. Using cash back apps
Gaining money through completing every day tasks is a helpful way to make an extra amount of income.
Some of these apps will give you money just for scanning your grocery store, restaurant and clothes shopping receipts.
Alternatively, Americans can save extra cash from their every day spending by downloading an app that saves up lose change. For example, if you spend $3.75 on a coffee, the app would round up the transaction to $4, putting the 25 cents into savings.
4. Lower your car insurance premiums
An average of $1,127 a year can be saved by looking around for lowest car insurance rates, according to a study by CarInsurance.com.
Americans can do this by using comparison websites to find the best deal on their insurance.
It is also advised to shop around for available discounts on your car insurance.
It is unclear whether or not President Biden will sign a fourth stimulus packageCredit: AFP
5. Refinance your mortgage
Americans who took out a mortgage as recently as one year ago can refinance it to the current historically low rates.
Some 11.1million homeowners could save an average of $277 a month if they refinance, according to Black Knight.
This will be possible for people who have at least 20 percent equity, are current on making their payments and have a credit score of 720 or higher.
Additionally to the extra cash, swapping loans would take three-quarters off a point off of your mortgage rate.
6. Reduce your home insurance
Similarly to how you can save money on your car insurance, shopping around will help you do the same on your home.
LendingTree’s ValuePenguin said that annual insurance rates in Florida can vary by $1,500 for practically the same coverage. However, those who do not shop around could miss out on this saving.
One way to save money on this is to get your home insurance through your car insurance company, leading you to potentially receive a bundle discount.
Millions of Americans just received a $1,400 checkCredit: Getty
7. Use discount extensions to shop online
Internet browsers allow you to download extensions that can help you ensure you are getting the best deal.
Free price-checking extensions can scour the internet for discount codes that will automatically be added to your basket.
Others can ensure that you are getting the best price on the internet, based on when the item was last on sale and where it is available elsewhere.
8. Sell old items
Americans have spent a lot more time at home in the last year, giving everyone more time to search through their attic for old items to sell.
However, before selling at a yard sale, it is useful to search on eBay for how much similar items are selling for.
Some periodic items, such as old games, novels, movies and music from the past decades could be worth a large amount of money.
However, according to Yahoo Finance, the site Decluttr pays one-third more than it’s competitors.
9. Earn more cash with a side project
Having a hobby or a talent could be turned into extra cash by using online marketplace platforms for freelance work.
Americans can put a profile together showing the services they offer and see what jobs are out there.
It’s an easy way to pick up some extra money by doing something you enjoy.