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.

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.

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.

• 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.

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.