TL;DR: Through Jan. 31, Walmart is offering $50 in Walmart Cash for free to new and returning members who sign up for a Walmart+ annual membership. Since memberships cost $98 per year, that's basically like getting half your money back to spend as you please.

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Opens in a new windowCredit: Walmart+Walmart+ annual membership

Just like Amazon hides its perks behind its exclusive Prime membership, Walmart gives its best deals to Walmart+ members. If you're seeking a a way to slash your expenses and enjoy significant savings not only at the grocery store, but also on streaming services, travel fees, and beyond, a Walmart+ membership could be just the ticket. And for a limited time, you'll get half your membership fee back to spend when you sign up.

Through Jan. 31, Walmart is offering $50 back in Walmart Cash to new and returning members who sign up for annual subscriptions. Since memberships are typically $98 per year, that means you'll get over 50% of your annual subscription fee back to spend on essentials. The offer isn't available to current or trial members, or those enrolled in W+ Assist.

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With your annual Walmart+ membership, you'll enjoy the convenience of free grocery delivery on orders over $35, free shipping on all Walmart.com purchases with no order minimums, fuel discounts, and access to tools like Scan & Go to save time shopping in stores. You'll also get exclusive first access to discounts and major sales (like Black Friday and Cyber Monday), 5% Walmart Cash on hotel bookings and car rentals, 2% Walmart Cash on airfare, and a complimentary Paramount+ subscription to watch thousands of shows and movies, live news with CBS News, and even NFL on CBS Live.

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Related Stories

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• How to cancel your Amazon Prime membership
• Amazon Prime as we know it will cost an extra $2.99 starting Jan. 29
• Walmart+ is finally live. Here's how to sign up.

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Not that we're comparing, but that's a lot of perks for $41 cheaper than Amazon Prime. Plus, you'll get $50 to spend right off the bat.