Money Focus for Low Income Families

When you are living on a low income, it’s very easy to get overwhelmed with financial pressures. From the never ending bills, general family costs and debt, you may feel like there is no way you can do it all – and chances are, you may not be able to. If you are struggling to find balance in your financial life, here are areas where you can get government and non-profit assistance. The below options can help reduce the pressure of taking out a loan to pay bills.

By looking into services that can help reduce your financial commitments, you will get a bit of breathing room and hopefully minimize financial stress. If the below isn’t enough to help you with your situation and you need additional assistance, look into the different types of budgeting loans or grants for cash help.

Rent: The government provides various types of rent assistance programs which can really help reduce your housing costs. In addition, if you’re in a position to, moving to a cheaper area or a smaller home can also help in reducing monthly housing costs.

Utilities: Just like rental assistance, there are loads of government and non-profit programs to aid with utility payments. Some energy providers also have special programs for low income earners. In many instances they work in tandem, the utility companies and government in providing discounts and rebates. Check with your energy provider and if they don’t have an assistance program, check with your local or state government. Additionally, you can also get in touch with companies like enTouch Wireless that tend to provide free cell phone service to eligible customers!

Food: Some countries provide services such as food stamps or something similar to low income families. Non-profits also play a big part in feeding those who are having trouble putting food on the table. There are many different assistance programs that range from food care packages to soup kitchens. For low-income families with an allowance, finding things like Walmart coupons from websites like https://www.raise.com/coupons/walmart could make a big difference to their quality of life.

Healthcare Similar to utility providers. Certain pharmaceutical companies provide discounted or free medication to low-income earners. In addition, depending on the Medicare system of your country, there may be free healthcare that you can benefit from. For instance in America, Medicare or Medicaid system supports low-income families through various healthcare services and plans. You can check IEHP to get an idea of how the system works.

Transportation: Take advantage of any public transport discounts that are available. In instances where you can walk or ride a bike, do so as this can save you a significant amount of money. If you own a vehicle you may want to consider selling it and using public transport. This can save you loads of money on insurance, fuel and maintenance. If you need a car, possible consider downgrading if you can.

Everything Else: If you are on a low income you already know that every dollar counts and must be used wisely. Budgeting is an essential tool in helping you manage the family income and stay out of debt. Creating an emergency fund is also very important in providing you with some financial relief and to hedge against unexpected financial costs. In addition to taking advantage of grants and benefits, always look for opportunities to save and get ahead.