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The pandemic has hit us hard. It’s tragic how citizens all around the world share the same feelings of helplessness, anxiety, and fear whenever they think of their future. For some people, merely going by every given day feels like a struggle on its own. Although the picture does look bleak, if you squint hard enough, you’ll still find a few silver linings scattered all around you. In this case, we’re talking about the various economic opportunities that exist.
There are plenty of federal, charitable, and relief-providing entities that are willing to lend a helping hand to anyone in need. If you find yourself in a tight spot with your finances running thin, here are a few tips on how to benefit from the economic opportunities around you.
Stimulus checks are one of the most beneficial opportunities you might come across, so be sure to check if it’s offered in your country and, if so, inquire about your eligibility. For instance, stimulus checks provided by the US government gave the citizens a great opportunity to acquire free money they can use to boost the national economy. The amount received is calculated based on the most recent reported tax return, and eligible taxpayers could get up to $1,200, if single, and up to $2,400, if married.
Although we were expecting to see some stability now that we’re almost through with the second pandemic year, the new variants look like real trouble. Millions of people all around the globe are still reporting unemployment, or have lost part of their wage, due to the ongoing pandemic. Thankfully, initiatives like CARES (Coronavirus Aid, Relief and Economic Security) Act and Families First Coronavirus Response Act provide unemployment insurance for those who wouldn’t have normally been eligible.
One of the biggest struggles we’re facing nowadays is covering accommodation costs. Since these costs vary significantly from one area to another, states may offer different relief programs according to their data. These programs can provide citizens with more leniency in paying mortgages or finding housing in the first place. Nicole Banter from Federal Financial Relief explains that you can even find government programs to aid with house repairs. Contrary to popular belief, these programs aren’t limited to the unemployed or homeless.
Unfortunately, most of us fail to realize just how draining medical expenses can be, until we get sick and have to pay for the treatment. Usually, even that wouldn’t be a problem with the health insurance coverage we have going, but what if we don’t have that insurance anymore? Since that’s become a common occurrence in the pandemic age, the government has implemented a few initiatives to help low-income individuals pay their medical bills. These initiatives include free covid testing, Medicaid expansion coverage, COBRA job-based coverage, and other subsidized marketplace coverage.
The pandemic has surely strained all of our finances, but the severity of damage inflicted significantly varies from one person to another. While for some people it means struggling with paying their car loan, for others, it’s the inability to even secure food. Since a lot of people don’t have the financial capability to afford quality and daily food, they can look for alternative methods to obtain this food without paying for it. For instance, eligible individuals may be provided with food stamps, which they can instantly exchange for food and other dietary goods in almost all supermarkets.
Food is only one of the various human needs people are struggling to obtain during these hard times. For individuals struggling with other basic human needs, looking for a social welfare program to enroll in may be quite worthwhile. Social welfare programs offer basic living assistance to low-income families in desperate need of support. This support covers a wide range of benefits, including food stamps, healthcare, child care, unemployment compensation, and housing assistance.
There are times when you’re in need of financial assistance, though you fail to find any programs for your specific needs. You may be struggling to pay a car loan, utility bills, or other living expenses. Some governments have a set scheme to provide low-income families with some cash, which they can use to get back on their feet.