Michigan Residents Are Getting $550 Checks: See If You Qualify

It's tax time, and it certainly helps if you're getting a big tax refund. But, you might actually be getting a random $550 check in the mail. How great is that? It's true: Nearly 700,000 Michigan residents are getting $550 checks in the next few weeks. Here's how to see if you qualify.

The checks are tied to a new Michigan law passed last March that took Michigan's Earned Income Tax Credit from 6% to 30% of the federal tax credit. That's a major increase.

This week, Michigan started sending tax credit refund checks out to lower-income Michigan residents. The checks are going to residents who qualified for the Earned Income Tax Credit in 2022. So, those who get the checks will be taxpayers who qualified for the Earned Income Tax Credit in 2022, which is a benefit for residents who have a job but don't make much money. The size of the credit is dependent on factors such as household income and dependent children.   In the 2022 tax year, a married couple with three children could get the tax credit if they made less than $59,187 combined. For a single person without children, they could get the credit if they earned less than $16,480.

The average check is expected to be $550, but that varies. The maximum Michigan EITC is 30% of the federal credit. That changes based on inflation. Also, those who get the Michigan Earned Income Tax Credit and claimed it on their 2022 taxes already got a 6% credit. So, the new checks will make up the difference, adding 24%. The checks are coming quickly, too. The Michigan Department of Treasury expects to finish sending out the checks over the next five-to-six weeks. That great news is that you don't need to do anything to get the checks. The state will send paper checks to eligible taxpayers, without residents having to do anything.  If you moved, make sure to update their address so you get the check.

Do you ever feel like you're working hard but don't have the money to show for it? It's a common sentiment. Well, the good news is that today, there are some ways to make extra money right now that can really add up. Now, there's no "easy" solution to making more cash. But, we've researched some ways that people are making extra money, and they're simple.

Before we get into ways to make extra money, let's start with saving money. NerdWallet.com has some really simple tips for saving cash. A big one is to prepare for grocery shopping. That's so that you aren't grabbing a bunch of stuff that you don't need on a whim. "A little work before you go to the grocery store can go a long way toward helping you save money on groceries," they state. Prepping also means that you can maximize any coupons that you find for items you'll be purchasing or knowing about loyalty programs ahead of time. The big one is to not impulse by. I've done that so many times, when I but cinnamon rolls or something else that I don't really want just because it looks good at the time.

Another savings tip from NerdWallet.com is to restrict online shopping. Boy, that's a good one. It's so easy to sit there on your phone, saving items that look cool in your online cart. Then, all you have to do is hit "order," but often, you're ordering a bunch of stuff that you don't really need. They suggest that, "Instead of saving your billing information, opt to input your shipping address and credit card number each time you order. You'll probably make fewer impulse purchases because of the extra work involved." Good idea. Find more tips on saving money from NerdWallet.com here. Forbes has some good advice, too, in suggesting to do real meal prep. It helps avoid eating out too much, which can really add up.

Now, let's get into easy ways to make extra money.

This option has been there since the advent of the garage sale. If you have items sitting around that you don't want or need anymore, sell them. It's a quick way to make some cash. You can put them up for sale on eBay, a Facebook group or elsewhere online, or you can go the old-fashioned way and hold a yard sale.

I've house sat quite a bit, and I personally love it. It's very peaceful to watch over someone's house. Duties-wise, it can involve anything from watering plants to just staying there so that nobody breaks in during a long vacation. Pet sitting is also a great way to make a little extra money. While you're at it, try being a dog walker, too.

Being a mystery shopper is a real thing. You can shop, either online or in person, and get paid for reviewing your experience. But, watch out for scams. A great way to find legit mystery shopper jobs is by looking on job sites such as Ziprecruiter.com or Indeed.com.

You can make money by simply taking online surveys. It's not usually a lot of money, but it's better than nothing, and you can do it during downtime. A few major survey sites include Swagbucks and Survey Junkie. Find more via NerdWallet.com here.

Self-publishing has never been so easy. If you are very knowledgeable in an area that people want to know about, why not self-publish an e-book? Using Amazon's Kindle Direct Publishing, you can sell your books via the Kindle store. Publishing the book is free, and you can earn an upwards of 70% of each sale in royalties. You can even try your hand at a wild novel and see how it does, if you don't want to write a practical book.

A quick way to make some cash during your off hours is by delivering groceries or food. Services such as Instacart and Shipt use independent contractors to deliver food to clients. Also, services such as Uber Eats and Doordash are often looking for delivery people.

It might seem odd to open a new credit card to try to make money, but it can help. Many credit cards offer new client deals, so if you spend a certain amount after signing up, you could get some cash back or other bonuses. Also, you could find a cash back card, where you get cash back on everyday purchases, such as gas or groceries. Say you don't want a new credit card? You could also open a new bank account at a bank where they are giving cash-back offers for starting business with them. Also, to get the most for your money, look for a high-interest savings.