"Free Money." Yes, the Money Coach says you should be skeptical. If something sounds too good to be true, chances are it is not true. Sometimes, however, free means free. Check this out - your U.S. Government wants you to save for your future, for your retirement. Uncle Sam knows that you want to SPEND your money, not SAVE it. Uncle realizes that those of you who earn small salaries need a really good reason to save money for something as far off as retirement. Free money is the answer.

The IRS provides income tax credits for low-income savers. You receive "free money" in the form of a non-refundable tax credit. Nonrefundable means it cannot reduce your tax below zero. You are eligible for free money if:

Your adjusted gross income is less than $25,000 (single) or $50,000 (married). You or your spouse put money into a retirement account.

You are over 18; you are not a full-time student.

You are not a dependent (other than a spouse).

Beginning to save for retirement is very important. In fact, retirement will be the single most important long-term investment during your lifetime. Even if you can put only $400 into a retirement account, you could get back as much as $200 as a tax credit.

More free money:

401(k) match is free money. Absolutely take advantage.

Bank of America offers a service that automatically rounds up each debit card transaction to the nearest dollar and transfers the difference into a consumer's savings account.

Cash Back Credit Cards provide free money.

2006 tax year only, the IRS provides a tax credit for Federal Telephone Excise Tax paid ranging from $30 to $60. The IRS reports a surprising number of taxpayers are missing this free money.

Your mortgage deduction is a type of free money, but the value is often overstated. Your effective amount is only the dollars over your standard deduction.

Gas discount cards are free money. In fact, any time you can save money when you buy a sale item, you are getting free money.

I-Bonds provide a type of free money because unlike interest from CDs and savings accounts, you do not have to pay state income tax.

Many who read this article are seeking Wealth Without Work (WWW). Let's change that around to something more realistic - Work Makes Wealth (WMW). To begin with modest assets and build a fortune obviously requires thrift. If you want to become wealthy, adhere to a family budget that includes a large amount of savings.And include as much "free money" as possible.

The Money Coach is Bill Stanley of Stanley Financial Services, LLC in Colorado Springs. Bill is a fee-only Register Investment Advisor who works with young families, mature families, and families that do not have much money - yet.

If you have an example of free money or if you have a question, please contact Bill at MoneyCoachBill@yahoo.com