Many people need some extra money right now. Perhaps their income has been reduced. Maybe their COVID relief/unemployment is running out. Others need a way to figure out how to pay for Christmas gifts. Or maybe some folks just want to make some investment money.
Well, here’s some good news!
Two different SoFi referral offers allow you to earn some relatively passive income. One involves their SoFi Money product, and the other gives you free money in their Invest program.
You can make money from signing up — and even more cash for referring others to SoFi!
I’m a member of both and really like SoFi. Their investment product, in particular, is great — especially for people interested in dipping a toe into the stock market.
Free Money from SoFi Money
The first option is the easiest and most convenient.
Open a SoFi Money account and deposit at least $500. Let it sit there and earn a little interest. After about $30 days, you’ll receive a $50 bonus deposit in your account. Easy peasy. You can transfer the money to another bank account or use the SoFi debit card they’ll send you.
I originally planned on getting my $50 — and then yanking my money out. But the SoFi Money interest rates were better than I get at my “usual” bank. So I’ve stayed a customer longer than I expected!
Free Stock in SoFi Invest
The other program gives you $50 in free selected stock when you open a SoFi Invest account and fund it with at least $1,000. Some of the stocks you can select are heavy hitters such as Amazon, Disney, Tesla, Apple, and Nike.
I’m a SoFi Invest member and really enjoy the platform. Buying and selling stocks is very simple. Plus, you can purchase entire or fractional shares of many stocks.
For example, if you want to buy some shares of Moderna (MRNA), you’d have these options:
There’s also a fun “Leaderboard” feature where you can see where others are making some stock money. It’s a good way to get stock ideas. And, for what it’s worth, I know a few people who swear by Motley Fool for stock advice and easily make back their subscription fee.
Make Even More Money By Referring Others!
Once you become a member, you can refer interested family, friends, your significant other, coworkers — you get the point. You’ll earn $50 in SoFi Money for each successful referral (up to $10,000 a year in referral bounties).
So if you’re a SoFi Money member but your significant other isn’t, refer him or her! That’s a pretty easy way for you to get $100. Same thing with the SoFi Invest platform — though the $1,000 minimum deposit may be onerous for some.
Final Approach
While not necessarily points and miles earning-related, using the SoFi Money and SoFi Invest opportunities can earn you some extra spending money — which you can drop on flights, hotels, or whatever you want.
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