Financial Help Options

Every day, more and more households are finding it hard to make ends meet. Whether they have lost their jobs or are just struggling to support their families on a budget, Americans all over the country are looking for financial help.

Fortunately, there are several options available for anyone who needs help taking control of their finances. The best part is that these options are not only for those who are struggling financially. Unlike government benefits that seek to help the most vulnerable, the offers below are open to anyone who wants to learn more about building their financial future.

Money grants: One of the least understood government services is the grant. Federal, state and local governments across the United States run thousands of grant programs that offer free money to people who meet certain requirements.

These grants are not like food stamps, cash assistance or rental vouchers. They are monetary gifts that usually help fund specific projects that might be beneficial to communities or certain parts of society. Examples of popular grants are educational programs like the Pell Grant, the SMART Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG).

Checking account signup bonuses: If you are looking for a simple way to earn cash or other rewards, opening a new checking account might be the perfect idea. Many banks offer promotional signup bonuses to encourage consumers to open accounts with them. These can include airline miles and even cash perks up to $700+.

In order to qualify for the promotional bonuses, you typically have to fulfill certain requirements after opening the account. Fortunately, these requirements are usually easy to meet. For example, many banks require you to set up direct deposit and leave the account open for a certain amount of time before you receive your reward.

Online loan assistance programs: When it comes to loans, consumers have so many options that it can feel overwhelming. Thanks to online banking, however, it has become easier than ever to find and compare loans online.

Even better, there are now services that compare loans for you depending on your credit score, income and reason for taking out the loan. Whether you are looking for a personal loan to do some home repairs or a federal loan to start a small business, it is easy to find a loan assistance program that meets your needs.

Debt consolidation services: If, on the other hand, you are looking for a better way to manage your debt, then it might be a good idea to consider consolidating it. The term “debt consolidation” is often confused with “debt settlement,” but they are two very different things. Debt settlement is a risky tactic where you hire a company to negotiate your debt with your creditors. This tactic hurts your credit score and is not guaranteed to work, so it may end up costing you more money with no benefit.

On the other hand, debt consolidation is when you take out one main loan to pay off several smaller loans. Many times, the terms of the new loan are more favorable and leave you with lower monthly payment, although your payments are spread out for longer.