Credit loans

Without a fourth stimulus check, these other COVID programs still offer cash

Without a fourth stimulus check, these other COVID programs still offer cash

Congress is currently focused on pressuring President Joe Biden to spend massive money on roads, bridges and social programs – and on trying to prevent a government shutdown.

One thing missing from lawmakers’ heavy agendas is any plan to give Americans their fourth pandemic stimulus check. Congress moved on from this idea, although advocates and ordinary Americans did not.

The Senior Citizens League nonprofit this month launched a lobbying campaign to provide seniors with $ 1,400 stimulus checks to help them cope with “soaring inflation.” . Meanwhile, a online petition asking for checks for $ 2,000 a month for all Americans is on the verge of reaching 2.9 million signatures.

For the moment, these proposals are only wishful thinking. But if you could use more COVID relief to help keep your bills paid and keep your debt under control, there are many other ways to get it.

Billions of stimulus aid still available

This illustration photo of Ben Franklin wearing a healthcare surgical mask on a hundred dollar bill.

Ricardo Reitmeyer / Shutterstock

Although Washington has turned its attention away from stimulus checks, billions of other government aid is still available in early pandemic bailouts.

Child tax credit “family stimulus checks”

Until December, most households with children 17 and under receive cash payments through a temporary extension of the child tax credit.

Households can get up to $ 1,500 for children 6 to 17 and up to $ 1,800 for each child under 6.

The money is released automatically, based on the information gathered in the tax returns. Families who do not file taxes have until Oct. 4 to visit the IRS website to sign up and start receiving money October 15.

Help for tenants in difficulty

The government’s latest two stimulus packages have allocated $ 46.6 billion in aid to Americans who fell behind on their rent during the pandemic. The Treasury Department revealed on Friday that only about $ 7.7 billion has been distributed so far.

Money is distributed through hundreds of state and local housing programs, and the benefits can be substantial. In Illinois, eligible tenants and homeowners can apply for one-time grants of up to $ 25,000.

Money for homeowners in distress too

Homeowners who have struggled to meet their home payments and utility bills can still apply for financial assistance through a $ 10 billion mortgage assistance program it was part of the massive stimulus package Biden signed in mid-March.

You can receive money if you own your home and have a loan balance that in most parts of the United States is no more than $ 548,250.

Help for food workers

Some workers who have fed America throughout the pandemic are now eligible for stimulus grants from a new program announced this month by the US Department of Agriculture.

Some grocery store, farm and meat packer workers drew on their own funds to pay for child care, personal protective equipment, and other expenses to continue their essential work. Eligible U.S. workers can receive grants of up to $ 600 which are distributed by local agencies and nonprofits.

Other ways to boost your finances

Unhappy family sitting on sofa looking at bills

Monkey Corporate Images / Shutterstock

If you’re not eligible for any of these types of stimulus funds – or if you are, but the help just isn’t enough – here are some other strategies to give you a financial boost.

  • Tame your debt. The pandemic may have forced you to rack up high balances on your credit cards or take out a loan with an unsavory APR. A low interest debt consolidation loan can help you regain control by simplifying your payments and lowering the total cost of your debt.

  • Save when you shop. The pandemic has caused many people to do most of their shopping through smartphones and computers. To reduce the price tags online a bit, consider downloading a free browser add-on which automatically searches for lower prices and coupons.

  • Refinance to reduce your housing payments. Today’s average mortgage rates are below pre-pandemic levels, and if you’re a homeowner, refinancing could save you a lot of money. A recent Zillow survey found that almost half of homeowners who refinanced between April 2020 and April 2021 are now saving $ 300 or more each month.

  • Put your pennies to work. The stock market may seem inaccessible to a newcomer, but a popular app helps you get started using a little more than “Coin” of your daily purchases. You can quickly integrate your pennies into a wallet.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Source link