A lot of people experience financial difficulties from time to time. Thankfully, the government is not blinded to their experiences. Thus, programs have been set up to assist people who experience financial hardship.
As long as you are eligible and qualify for these programs, you do not have to bear the burden of a financial setback by yourself. In this interview, we asked the American Hope Resources team about the top programs for people experiencing financial hardships. This was how it went.
Should You Ask The Government For Help When Experiencing Financial Hardship?
Many do not seek government assistance when they are experiencing financial hardships. This is, however, not advisable since you can find benefit programs in your area.
Your taxes are deducted to cater for the welfare, education, feeding, housing, etc., of persons facing financial difficulties. Thus, you can also benefit from these programs. Consider it as benefiting from your contributions.
What Are Some Of The Top Programs For People Experiencing Financial Hardship?
Some of the top programs for people experiencing financial difficulties include; the Supplemental Nutrition Assistance Program (SNAP). This assistance is available to people experiencing problems due to illnesses, job loss, etc.
Another major program for people experiencing financial setbacks is the Temporary Assistance for Needy Families (TANF). This program provides food, housing, job training, and child healthcare assistance for families who qualify. It is majorly for families who are experiencing temporary financial difficulties.
Another major program is Unemployment Insurance. This covers persons unable to work or who lost their job by no fault. The criteria for eligibility vary between states. Thus, checking if you’re eligible in your state of residence is essential.
The United States Department of Housing and Urban Development also provides housing assistance for people experiencing financial hardships. The Low Income Home Energy Assistance Program (LIHEAP) assists with utility bills, heating, or cooling for families who cannot afford such.
The government also offers grants, loans, and scholarships for students and small businesses in need of such.
What Are The Criteria To Qualify For Financial Aid Programs?
A significant criterion to qualify for financial aid is being a low-income earner. This will be checked and verified upon submission of your application. You must also be a citizen, legal resident, or eligible non-citizen.
How Long Does It Take Members of the American Hope Resources forum to Get a Response?
It is advisable to apply for financial aid as soon as you get wind of a financial crisis to get help at a reasonable time. The large amount of people applying for financial aid make the waiting list long. So, the earlier you apply, the better.
What Are Some Tips To Help You Prepare For Financial Crisis?
One of the best ways to prepare yourself for a financial crisis is to make a budget. This budget can be weekly or monthly, but the most important thing is to ensure that you do not exceed it as planned.
You should also strive to save for rainy days. You can also get better credit card deals, ensure you frequently pay your credit card debt, and ensure you have other sources of income.