When you learn to be an effective fighter, you will need to master both defensive moves and offensive moves. In the game of life, you need to learn how to play defense against your debt and play offense to earn more money. This is why it is important to educate yourself on the best financial moves to improve your current situation. It is a constant cycle of saving money and earning more money. Many professionals and financial advisors offer advice that can help you. But, people who have experienced life’s ups and downs will be able to give you the best financial advice to help your situation. This article gathered the best financial advice you might need through financial defensive moves and financial offensive moves.
Financial Defense Moves
There are three main financial defense moves that can help you better manage your current financial situation. The three main financial defense moves are: managing bills, handling your medical debt better, and reducing your existing bills. Fortunately, each component will offer a way to better manage your financial situation.
Manage Your Bills
You can gain a lot from technology; there are many benefits that come with modern technology these days. One of the best benefits is the TrueBill application. The TrueBill application is a personal financial assistant that you can use for free. Instead of choosing to negotiate your own bills, the TrueBill application will negotiate for you. Do not worry; you will not have to worry about setting up your account. Once you download the application, you will need to create an account that links to your bank account or credit cards. When you activate the bill negotiation and outage protection features, the application will get to work. The TrueBill application will look for refunds that you require and help you find any hidden subscriptions you forgot about.
Better Handle Your Medical Debt
One of the most expensive things that could take up the majority of your paycheck is medical debt. Medical treatment in the United States is one of the most expensive healthcare systems in the world. Many Americans are forced to pay thousands of dollars and end up going into medical debt. Credible can help provide financial relief with your medical debt. You will be able to match the personal loan that could better suit your current situation. Additionally, you will be able to take your several forms of medical debt and consolidate them into one single loan. That way, you can better manage your finances.
Reduce Your Existing Bills
Sometimes, you can sign up for bills and you do not choose the best company to partner with. Squeeze is a website that provides access for you to solve that particular issue. This website is designed to compare and contrast rates for different forms of services. These services include: internet plans, personal loans, cell phone plans, and more. Squeeze is a very useful and efficient tool that you can use to make more money. Additionally, you will be able to handle your existing bills better and more efficiently.
Financial Offensive Moves
In addition to financial defense, there are financial offensive moves that can help you earn more money. You can actively improve your financial situation through these three moves. The three moves are: gaining early check access, getting a side job, and becoming a landlord.
Gain Early Check Access, If You Want To
Do you want to get early access to your income? One of the best financial moves you can make is to use technology in your favor. Chime is a useful tool for you to use to gain early access to your paycheck. Basically, Chime serves an online bank account that offers early access to your paycheck. As soon as Chime receives notification of a direct deposit from the company that you work in, you will receive access to your paycheck.
Work on Getting a Side Gig
Since you are constantly using your cell phone all day, you can use that to your advantage. You can get a side gig that does not require much effort on your part. In this day and age, there are many choices you have. If you like watching videos, then you can try InboxDollars. This website offers to pay you for watching short video clips. Additionally, you can participate in surveys, where you are paid for your participation. These websites will pay you through your PayPal account or through gift cards.
Think About Becoming a Landlord
You will be able to make more money by sharing your own space with someone else on AirBnB. Through this application, you can have someone rent out your space for a period of time. In exchange, they pay you for your hospitality. If you want to make fast cash, then you should think about becoming a landlord for a temporary period of time. You just need to make sure that you are somewhere else to stay when you are renting out your place.
Are You Still Struggling?
Maybe, you tried to better manage your current financial situation. Or, maybe you tried to bring in more income. Did you find yourself trying your best and you were not able to fix your current financial situation, regardless of what you do? Then, this might be the time for you to look at some alternatives, such as federal assistance. There are many welfare programs that can help your current financial situation. You can find assistance options from the federal government, state governments, and even local governments.
There are countless assistance options that can help you in every aspect of your life. Whether you need help with housing costs or food, you will find welfare programs to help you. Fortunately, you will find that these applications are free of charge and can provide significant financial relief. The most popular assistance options to help your financial situation include:
- Supplemental Nutrition Assistance Program (SNAP)
- Housing Choice Voucher Program (Section 8 Housing)
- Low Income Housing Energy Assistance Program (LIHEAP)
- Supplemental Security Income (SSI)
- Temporary Assistance for Needy Families (TANF)
- Federal Grants
Supplemental Nutrition Assistance Program (SNAP)
The United States Department of Agriculture (USDA) is responsible for administering and managing the Supplemental Nutrition Assistance Program (SNAP). This program offers eligible individuals and families that require financial relief, who cannot afford to support themselves. Additionally, the SNAP is the largest welfare program on nutrition assistance that the federal government offers. This program offers Electronic Benefits Transfer cards (EBT) to provide financial assistance. Electronic Benefit Transfer cards act as a prepaid debit card that you will receive funds every month to buy basic needs. But, you can only use EBT cards in stores that accept them as a form of payment.
Medicaid is a health insurance program from the federal government for qualified low-income individuals and families. The Centers for Medicaid and Medicare Services (CMS) is responsible for administering and managing this program. These centers take part in the U.S. Department of Health and Human Services. Of course, it makes sense since the program deals with both health and human services. Qualifying minors, adults, pregnant women, individuals with disabilities, and elderly individuals are able to receive these health benefits at a discounted price or for free.
Housing Choice Voucher Program (Section 8 Housing)
The Housing Choice Voucher Program, or Section 8 Housing, is a welfare program that offers affordable housing units. Section 8 Housing offers housing vouchers to qualifying low-income individuals and families for housing expenses. But, not every property owner allows housing vouchers as a form of payment. This might limit you from choosing a place to live. But, there is an upside to your housing situation. Fortunately, the federal government provides tax incentives to property owners as a way to promote the acceptance of these vouchers.
Low Income Housing Energy Assistance Program (LIHEAP)
The Low Income Housing Energy Assistance Program (LIHEAP) aims to support families and assist them with energy-related costs. This program can offer assistance towards home energy bills, minor home repairs, and weatherization services that are related to energy. When you receive the LIHEAP benefits, you will be able to reduce your chances of facing unexpected energy-related accidents that can take place from damaged heating and cooling systems. If you want to receive this type of assistance, then you can reach out to the National Energy Assistance Referral (NEAR) at 1-866-674-6327.
Supplemental Security Income (SSI)
The Supplemental Security Income (SSI) program is a government-funded program that offers financial relief to qualifying individuals that cannot meet their basic needs. If the program accepts you and you will receive benefits, then you can depend on the fact that funds are coming in on a monthly basis. But, like all welfare programs, you will need to meet eligibility requirements in order to qualify for the program. If you want to receive SSI assistance, then you will need to meet the following eligibility requirements to qualify for the program:
- You need to make sure that you are at least 65 years old or older;
- Must have a medical condition that limits you from going to work that needs to continue for at least a year or might result to a fatal result;
- You need to have a disability or suffer from blindness
Temporary Assistance for Needy Families (TANF)
The Temporary Assistance for Needy Families (TANF) Program offers cash for a certain period of time to eligible low-income families and individuals that need assistance. Furthermore, this program aims to help people reach self-sufficiency. Additionally, the TANF program can be able to provide several non-cash assistance. These non-cash assistance include job preparation and child care. But, you just need to make sure that you qualify for the program and meet the eligibility requirements.
Federal grants offer cash to qualifying applicants. The federal government provides grants to recipients that can use it for educational expenses. Furthermore, this can be a huge help for you to improve your financial situation. One of the most popular options for federal grants is the Pell Grant.
The Pell Grant is one of the most popular and most efficient grant options that the federal government provides. The funds of this grant will help you with paying off your tuition to qualifying undergraduates. You will need to meet the financial need requirements to qualify for the grant. Additionally, you will need to meet the school enrollment requirements and the school cost requirements too. The total amount that the Pell Grant offers can vary from one year to the next. On average, the Pell Grant can offer a little over $6,000. If you need help with educational expenses, then you should think of applying to the Pell Grant. But, you should apply as soon as possible.
In conclusion, there are so many things that you can do that can help you save money and make more money. You can manage your bills better, reduce your existing bills, and handle your medical debt. Furthermore, your medical debt is one of the hardest forms of debt and you should really focus your energy on getting rid of it. Additionally, you can consider working another side job, becoming a landlord through AirBnB, and gain early check access. Fortunately, if you cannot find a way to improve your situation on your own, then you can always reach out for financial assistance. If you need financial assistance or you want to improve your current situation, then you will definitely find it. But, you just need to know where to look.