If you want to stay on top of your finances, then there are two types of action you need to take, saving money and earning money. You need to figure out what are the best financial moves for your current situation. Typically, staying on top of your finances means saving and earning money at a constant rate. You can get all the advice you want from professionals and financial advisors. But, you will find that the real experts are the people who have experienced financial ups and downs. This article will tell you about six tips that you should do to save money and help your financial situation.
6 Ways You Can Make And Save Money At the Same Time
There are different ways that you can make and save money. But, the question is, what is the right way? You will need to start managing your bills, where you will be able to figure out what bills take too much out of your wallet. Another thing you can do is better manage your medical debt. Medical debt is notorious for being expensive, but you will need to make sure that you have it under control. Also, you can work on reducing your current bills and compare rates for different services.
Managing Your Bills
Technology will make your life a hundred times easier. This is why you should use technology to your advantage, especially when it comes to your finances. The TrueBill application can serve as your personal financial assistant. It is also free of charge! Instead of dealing with your bills, the TrueBill application can negotiate for you. The best part is that you can set up an account without any hassle! Once you download the application, you will need to create an account that links to your credit cards and bank accounts. All you have to do is activate the bill negotiation and outage protection features. After that, the application will work on finding any type of refunds that you are entitled to. Additionally, the application will help you find any hidden subscriptions you might have forgotten about.
Better Handling Medical Debt
Healthcare in the United States is known to be very expensive. Many people are forced to pay thousands of dollars for medical treatment. This leads them to an insurance mess and medical debt. If you need a little financial relief from your medical debt, then you can use Credible. Credible is a stellar resource for anyone struggling with medical bills. It matches the personal loan that suits your current situation. Additionally, you can take your multiple forms of medical debt and consolidate them. Consolidating your loans means that you turn all of your loans into one single loan, which will help you manage your finances efficiently.
Reducing Your Existing Bills
When you pay your bills, you might not have chosen the most suitable company to partner up with. This is where Squeeze comes in handy. You can use Squeeze to compare rates for different services. This includes personal loans, internet plans, cell phone plans, and more! With this website, you can save big money and choose the right company to partner with. You never know, you might save more money than you think.
Early Check Access
If you want a head start on receiving your income, then you can use technology to do so. Chime is a great tool for you to use to get a head start on getting your income. This online tool serves as an online bank account that allows access to your money as your company deposits your income to your account. You will be able to use your wages right away after that.
Get a Side Gig
A side gig has become a common form of saving and earning money for any average Joe. You can utilize your free time through a side job. If you are the type of person who is glued to their phone all day, then maybe you should make a side hustle out of it. There are many online jobs that allow you to make money on your phone. If you like watching videos, then you can try InboxDollars. InboxDollars pays you to watch short video clips. Another option is online surveys. You should try Survey Junkie or Swagbucks, which pay you for your opinion.
Become a Landlord
If you want to earn extra money as a landlord and you are not sure how, then you can think about renting your place on AirBnB. AirBnB is a website that allows anyone to rent out their homes to interested tenants for a short period of time. All you have to do is showcase your home online and wait for an interested guest to book your home. You could be the host for someone’s trip and make good money at the same time.
Are You Still Financially Struggling? There’s More You Can Do
If you are still financially struggling, then you should think about alternative options. One of the most common financial assistance options is federal assistance. There is a wide range of assistance options to help your financial situation. This includes assistance from the federal government, state government, or local government. You will find that there are many assistance options that can help you with literally anything. A good rule of thumb is that you apply to as many assistance programs as you can. All applications are free and you might find your current situation significantly improved.
Supplemental Nutrition Assistance Program (SNAP)
The United States Department of Agriculture (USDA) oversees the Supplemental Nutrition Assistance Program (SNAP) for eligible individuals and families who cannot afford basic necessities. This is the largest available nutrition assistance program that the federal government offers. SNAP offers benefits in the form of Electronic Benefits Transfer (EBT) cards, which work as prepaid debit cards. The program funnels in funds every month for the duration that you are eligible. Then, you can use these funds to cover the costs of food and groceries. Keep in mind that you cannot use EBT cards in any grocery store or supermarket. You need to make sure that the grocery store or supermarket supports the program.
Special Supplemental Food Program for Women, Infants, and Children (WIC)
With the Special Supplemental Food Program for Women, Infants, and Children (WIC), you will find that it targets women, infants, and children that are up to 5 years old. This program offers food, referrals for assistance, vouchers, and education to qualified individuals. The WIC program also assists pregnant women. If you want to apply to the program, then you will need to contact your local Special Supplemental Food Program for Women, Infants, and Children (WIC) office.
Child Nutrition Programs
There are several federally-backed child nutrition programs that assist children who are in schools. These programs include: National School Lunch Program (NSLP), School Breakfast Program (SBP), Special Milk Program (SMP), Child and Adult Care Food Program (CACFP), and the Summer Food Service Program (SFSP). Eligible children and even some adults can benefit from these programs when the programs visit participating schools. In an attempt to improve child nutrition, many of these programs try to provide support to low-income communities.
Medicaid is a federal health insurance program for qualified low-pay individuals and families. The Centers for Medicaid and Medicare Services (CMS) is responsible for overseeing this program. These centers are part of the U.S. Department of Health and Human Services, since this program revolves around the health of eligible Americans. To receive health benefits at a discounted cost or for free, you need to be eligible to qualify.
Child’s Health Insurance Program (CHIP)
In the case that you make too much and you do not qualify for Medicaid, then you do not need to worry. Child’s Health Insurance Program (CHIP) is another welfare program that you might qualify for. This program offers affordable medical and dental care for children who do not have insurance until they reach 19 years of age. Additionally, you will find that the CHIP program covers screenings, preventative care, medical supplies, medical tests, and hospital care!
Housing Choice Voucher Program (Section 8 Housing)
The Housing Choice Voucher Program, also referred to as Section 8 Housing, is a welfare program that offers affordable housing to low-income families and individuals. Section 8 offers housing vouchers to qualified individuals and families to cover housing costs. However, not every property accepts housing vouchers as a form of payment. You will need to make sure that the landlord or property owner accepts the housing voucher. Fortunately, the federal government provides tax incentives to property owners to motivate them to accept housing vouchers.
Low Income Housing Energy Assistance Program (LIHEAP)
Another common assistance option is the Low Income Housing Energy Assistance Program (LIHEAP). The LIHEAP offers financial assistance for energy-related repairs in your home. It can be really expensive to pay for energy bills and you might not be able to keep up. With the LIHEAP, you will receive financial relief to be able to afford any damages that are energy-related.
Overall, there are different ways that you can save and make money. You should keep in mind that managing your finances will make your life significantly better. How can you manage your finances? You can start by managing your bills and work on reducing your existing bills. Additionally, you can work on minimizing your medical debt and work a side gig to save more money. If all else fails, then you can always reach out to the federal government and find out what type of financial assistance they can help you with. There are so many welfare programs; you will definitely find one that will help you. Remember, apply to as many welfare programs as you can!