Are you prepared for a financial emergency? Most Americans do not have an emergency savings fund just in case they run into financial issues. It could be car troubles, a family emergency, or the loss of a job. Do you have emergency savings or even know where to start? Listed below are a few tips to get you moving in the right direction of creating an emergency savings fund.
Every now and then some of us find ourselves in a situation where we need help paying rent. If you’re in a situation where you cannot borrow from family or friends, try using the options listed below to get financial assistance if you ever find yourself in a bind.
- Talk to your landlord: Some landlords will allow for their tenants to do what some refer to as a “Promise to Pay” where you make a special payment plan outside your normal lease agreement. This may seem embarrassing, but do not count out this option, especially if you have been a good resident. Your landlord may surprise you and give you a payment arrangement.
- Society of Saint Vincent de Paul: This organization offers a wide variety of assistance programs. They have a Homeless Prevention program that will offer a solution should you find yourself evicted. However, before you get this point they do offer to pay a portion of one month’s rent if you qualify. If they do not have the resources to help you, they will assist you in finding another organization that can help. http://www.svdpusa.org/Assistance-Services
- Modest Needs: Is a non-profit organization that offers grants to individuals who are employed but find themselves one paycheck away from a crisis. You can apply to receive a grant with no strings attached, it is purely granted to you because you are in need. However, there is an application involved along with the submission of additional documentation to determine if you meet the qualifications. https://www.modestneeds.org/
- Till rental loan: Our rental loan lets renters borrow one month’s rent up to $2,000, providing an easy way to avoid the additional fees that come along with nonpayment of rent (late fees, dispossessory fees, attorney fees, etc.). Apply online at HelloTill.com/Loan and receive a decision within 24 hours. You will be required to submit income documentation to qualify. The loan repayment schedule will be given to you in advance along with the flat bi-weekly repayment amount. Till even pays the rent to your landlord directly, making it hassle-free to you as the borrower.
In the end, you as the renter should determine the right approach for your situation. Timing means everything, and it is better to not wait until the last minute to seek assistance. There are so many options out there for you whether it is in the form of a loan, grant, or government assistance. These options are just a glimpse and hopefully a starting point to guide you in the right direction.