Managing Your Bills: Simple Tips on Financial Aid
Having a bit of a rough time managing your bills? Caught in a rut and don’t seem to be making a dent on those costs? No worries, we’ve all been there, and there are ways to bring some ease to your situation. You might have tried your best to cut on costs and still end up stressed each end of the month. A bit of assistance could go a long way to lift that burden and let you save up some cash. Here are some handy hints on how you can lessen some of your major expenses.
1. Consider subsidized housing: Housing is generally the biggest cost we shoulder. If you’re renting, you might want to investigate subsidized housing. The cool thing here is the government chips in to make your rent less expensive. To qualify, you just have to show how much you earn. If you own your house, look into lowering your loan’s interest by refinancing.
2. Slash energy bills: Did you know every US state offers energy assistance programs? These programs may have some requirements like income limit and completion of application forms. Being accepted means you’ll see a big cut in your monthly bills. If you miss the deadline or don’t meet the requirements, check with your gas and electricity providers if they offer budget plans. These normally spread your expenses through the year and offer a consistent monthly amount. If you save on energy, you might get a refund at the end of the year!
3. Phone Bill cuts: Your landline provider may have discounted rates based on your income. For mobile phones, you can check out the Lifeline program to see if you could get a free service.
4. Economical groceries: Many American families spend roughly between $600 and $1200 monthly on food – we know, it’s a big chunk. But with benefits from programs like WIC (Women, Infants, and Children) and Food Stamps, you can reduce food costs. Local food banks or churches are also helpful resources.
5. Dealing with debt: Several families find it hard to meet their monthly costs because of overwhelming debts like student loans, auto loans, credit card bills, and medical bills. If you’re struggling with such debts, don’t stop paying them! Instead, hunt for a free credit counselor who can guide you to manage your debts better. Avoid settling your debt prematurely as it may affect your credit score. It’s advisable to negotiate with your creditors personally for a manageable payment scheme.
Don’t feel embarrassed if you need some help to steady your financial ship. When you do get help, remember to prioritize setting up an emergency fund and paying off your remaining debt. In no time, you’ll rise back on your feet, fully self-reliant!