Beyond penny-pinching
When you’ve tried everything and still have problems
Scaling back streaming subscriptions is solid savings advice for some. But what if the choice you’re faced with is not whether to pay for Netflix, but whether to pay for food?
The good news: Financial counselors, nonprofits and other organizations are there to help you find your financial footing.
Here are some steps to prioritize the money you have coming in, then get help filling in the gaps.
1 Go back to basics Start with a budget — even if you don’t think you have enough money for one, says Amy Smith, a financial counselor in central Texas.
“It doesn’t matter how much you’re bringing in — any amount of money — because you’re at least telling that money where to go,” says Smith, who is also the membership engagement coordinator for the Association for Financial Counseling & Planning Education.
2 Prioritize the essentials If there’s not enough money to cover all your expenses, tend to your basic needs first. These include housing and food, among other things.
Bills you can’t cover shouldn’t be ignored. Call the creditor and explain the situation and ask if there’s help available.
3 How to find help These organizations can help you navigate the programs available.
211.org: You can call 211 or visit 211.org to find local experts who know what help is available where you live and can connect you with the benefits you need.
• Association for Financial Counseling & Planning Education: Financial counselors work with clients on the basics — managing expenses, building a budget, creating a long-term plan — and they’re tuned in to local resources and assistance programs. You can sign up for a free virtual session with a certified financial counselor at findanafc.org/pro-bono.
• National Low Income Housing Coalition: This nonprofit organization maintains a database of Emergency Rental Assistance programs, searchable by the city, county, state territory or tribe. The database also includes information on each program’s status: accepting applications, on hold or permanently closed.
• Legal Services Corporation: Legal aid organizations across the country offer free legal help to low-income individuals. Their services cover everything from evictions and foreclosure to wage disputes and disaster relief. It's an independent nonprofit that provides funding to more than 100 legal aid groups across the country and U.S. territories. Visit their website (lsc.gov), select “Get legal help” and enter your address to find a local legal aid office.