This Company Will Give Away 500,000 55-Inch 4K TVs for Free. Here's the Catch

Having a big screen TV in your living room to watch your favorite TV shows, movies, and sports teams play is ideal -- especially if you like to entertain. But it can take time to save up for a brand-new TV. Unless, of course, you can get one for free. You now have that option. One company is giving away 500,000 55-inch 4K TVs at no cost. But there's a catch: Each television features a smaller second screen that displays ads constantly. Should you get one?

Introducing Telly, an ad-powered TV

Ilya Pozin, the co-founder of Pluto TV, is bringing free televisions to homes in the U.S. through Telly. The company has developed the first dual-screen Smart TV. Viewers can enjoy their favorite shows and movies on a 55-inch 4K HDR display with an included premium sound bar. A second smaller screen located below the main screen will feature advertisements from brands.

Telly TVs will have a voice assistant and a built-in webcam that can be used for video calls. Viewers can also access included free games and fitness offerings. Telly viewers can watch anything on their TVs. You can connect to your cable or satellite TV provider, use your favorite streaming apps, or connect to a device through one of three HDMI ports. Each TV will ship with a 4K Android TV streaming stick.

Since brands pay for their ads, the TVs will be completely free to consumers. Consumers will be asked questions about their household to optimize their ad experience during the sign-up process. Those interested can reserve a free TV at FreeTelly.com.

Should you get a Telly TV?

Who wouldn't want a free TV? While it could be a win for your checking account, you'll be marketed to when using your new TV. To get a free Telly TV, you should be comfortable being shown advertisements constantly and sharing your data with Telly and its advertisers. While many of us encounter multiple ads daily, Telly TVs will constantly run ads on the second screen. With this in mind, some may feel uncomfortable getting a free TV through Telly.

Do this if you want to avoid ads

If you don't like seeing constant ads while watching TV, you may want to skip this free TV offer. There's another way to upgrade your TV without going into credit card debt. Open up a high-yield savings account and take your time saving up for a brand-new TV. As you save, you'll earn interest on your contributions, which can help you boost your bank account balance.

If you struggle to save regularly, we recommend automating your savings. You can set up automatic transfers from your checking account to your savings account through your bank's mobile app or website. You can save time and feel less overwhelmed by doing this. Plus, you'll feel more confident knowing you're not forgetting to save.

Want to get an affordable TV? Look for deals. Some shoppers wait for money-saving events like Amazon Prime Day to buy new technology. If you plan your upcoming purchase accordingly, you could get a great deal on a new TV. You may want to use cash back apps to earn cash back on your spending. Before buying a pricey product like a TV, always consider how your purchase will impact your personal finances.