The big winner!
Who doesn’t dream of hitting it big, winning a large windfall? Although your chances of winning the lotto are very slim (to say the least); huge cash prizes are not the only thing up for grabs when it comes to contests.
Entering contests can actually be a way to accumulate some nice merchandise- or even generate a little of your own cash. Feeling lucky? Here are a few things to consider:
The best contests will yield you the best return on your investment. That means, try wherever possible not to pay to enter- you could end up blowing a whole lot of money on nothing.
When it comes to “free” contests, realize that the contest is likely being held as a method by which to get your personal information for a marketing list- so be careful what you divulge. Furthermore, contests are often used as a method of getting your personal information for fraudulent purposes. If you’re told that you’ve won a contest that you haven’t entered- proceed with extreme caution. It’s probably not legit.
By the same token, only enter contests from sources that you trust.
You don’t have to look too far for contests. They’re on the bottom of your store receipt. They’re on the rim of your coffee cup. Your neighbour is probably selling tickets for a raffle in support of their child’s hockey/basketball/dance team. A cursory look through social media will land you a number of ballots for prizes and experiences, if you agree to “like” or promote a certain product or service through your own social media channels.
The money making proposition
You don’t just make money from winning huge cash sweepstakes; the odds are not in your favour. There are numerous contests that offer smaller prizes (i.e. gift baskets, gift certificates, merchandise, discounts or freebies on products and/or services).
This is where you can make some money. You can sell these items, or put them away to regift during the holiday season, which will reduce your spending during that expensive time. Winning!