Thursday, April 4, 2019

Ways to Get Free Money from the Government

April 04, 2019 21
In the normal everyday life, the government takes money from its citizens, but there are instances where the government also gives money to its citizens. Below are ways to get free money from the government. Although they say there is nothing free in life, but there are some government programs that can enable you get money from the government for free. All you need to do is to choose a program you are interested in. the following are ways by which you can get free money from the government and also included are ways to find assistance and funds when you need it.

The first way to get free money from the government is to find unclaimed money. This will help you get funds from the government that you didn’t know you were missing. All you need to do to get free money from the government under this program is to visit unclaimed.org and then enter your information to search whether you have money waiting to be returned to you or not. The National Association of State Treasurers created the site to connect consumers with forgotten funds. These can include insurance reimbursements, apartment deposits, forgotten savings bonds, old utility payment overages or deposits, or paychecks you never cashed. Also, you can get free money from the government under finding unclaimed money by search specifics like your full name and address, or you can even just browse the results from your last name alone.

The second program that can allow you get free money from the government is to find unclaimed pension funds. If you’ve left a company due to acquisition, merger, or layoffs, you may have been too preoccupied with your next career move to remember pension funds. Luckily, the Pension Benefit Guaranty Corporation (PBGC) can help you reconnect with this forgotten money. Visit pbgc.gov to check your name and information against their database. There are currently almost 73,000 names on their unclaimed pensions list. So you may very well find some money you had forgotten all about.

Furthermore, you can get help with a down payment to get free money from the government. This is because the down payment requirement is one of the biggest hurdles in buying a new home. The government is usually willing to provide help if needed for this cause. The down payment for each state is different with unique requirements and benefits. You can visit FHA’s down payment grant page to see the state-sponsored programs in your area.

Applying for educational grants is another way of getting free money from the government. The fact that college is expensive is an established fact and in fact, the 2017-18 school year saw tuition averages of almost $35,000 for private colleges and just under $10,000 for state colleges. This can be painful. If you are unable to further your educational qualification as a result of the high cost of tuition, room, board, books and more; this is an opportunity for you to get free money from the government by applying for educational grants. The best and most broadly-offered funding source is the government’s Federal Pell Grant. This awards as much as $5,920 (2017-18 school years) to students each year that they qualify for need. And it doesn’t need to be repaid (unlike student loans).

Before you can be qualified for the educational grant, you will need to complete a FAFSA which you can view the details for the Pell Grant at ed.gov. Beyond that, though, there are hundreds of excellent grants available to students based on interests, major or career sought, and even local areas. I was surprised to find that some organizations even offer grants to students who are left-handed.

Assistance with childcare expenses is another means of getting free money from the government. To pay for childcare is sometimes expensive especially for families in D.C. area where the average annual cost is $22,658. This is too expensive for many families to afford and this cause for getting free money from the government. If you are employed and looking for assistance with childcare expenses, the government has a program to help. The U.S. Department of Health and Human Services offers assistance in the form of the Child Care and Development Fund, which has state- and territory-specific allocations to assist with care expenses (typically for children 13 or under).

You can also get free money from the government by accepting healthcare credits. Along with all of the confusion and frustration involved with healthcare in this country, we also get to deal with skyrocketing costs. This can make it difficult or even impossible for some folks to pay for much-needed premiums, especially as monthly prices continue to climb. If you purchase coverage through the Healthcare Marketplace and meet certain income eligibility requirements, you can receive government assistance in the form of a tax credit. You also have options for this credit. You can either take it in equal allocations, allowing you to reduce (or eliminate) monthly premium payments or you can “save” it for the end of the year. If you choose the latter, you’ll receive the credit in the form of a tax return when you file with the IRS.

Getting free or reduced healthcare for your kids is another means of getting free money from the government. This is majorly for people having issues with paying for the healthcare of their children and not meeting low-income requirements. Such people are eligible to get free money from the government through this means. Here, you can learn more about services like CHIP (Children’s Health Insurance Program) and local Medicaid programs. You can also find health care providers in your area–even dentists!–and apply for your state’s specific programs.

One can get assistance with utilities in order to get free money from the government. The average American spends over $300 a month for basic utilities. It’s easy to see how these bills can be difficult to manage for some–especially in the summer or winter months. The government’s LIHEAP (Low Income Home Energy Assistance Program) provides funds to those in need across the nation. These grants are available to assist residents with their heating and cooling expenses. They are managed through state programs (funded by the U.S. Department of Health and Human Services). To search for your state’s available programs and aid, visit the LIHEAP

You can winterize your home so as to get free money from the government. People usually need assistance when it comes to updating and improving their home to winterize it. This usually gets them to get free money from the government in form of gran through the U.S. Department of Energy. The Weatherization Assistance Program Technical Assistance Center (WAPTAC) can connect you with state-specific grant programs for home improvements to reduce energy expenses. If you have children, a family member in the home with a disability, or are over age 60, you’ll get preference for approval. In fact, the DOE estimates that as many as 20-30 million homes are eligible for weatherization grants.

Low cost of free phone service is another means of getting free money from the government. If you meet income requirements for eligibility, you may be able to take advantage of the Lifeline Program. This is the FCC’s free and reduced-cost cell phone grant. This allows access to cell phones and service for safety, well-being, and job-related needs. The amount you’ll get per month varies by need. But you can choose from a number of cell service providers if you qualify.

In order to get free money from the government, learn to avoid foreclosure. There is a laid down program that can help people that are at risk of foreclosure and the program was designed since the house crash in 2008 as it seems everyone knows someone affected by a foreclosure. The program that can help get free money from the government is called HOPE which means Home Ownership Preservation Foundation. This program offers assistance in setting up plans that allow you to stay in your home. They also offer advice if you’ve been the victim of a mortgage scam or if you are interested in a mortgage modification.

Getting free tax preparation is another means of getting free money from the government. This can be done when tax filing time is around the corner. This process sometimes requires little help but it is unfortunate that tax pros charge at a high cost. The people that qualify for this means of getting free money from the government are people that meet the low-income requirements. They qualify for free tax preparation help through the IRS’s VITA (Volunteer Income Tax Assistance) initiative. Assistance is generally limited to those who make less than $54,000 a year, persons with disabilities, or those with limited English-speaking abilities. However, the program is available and free to all, so it can’t hurt to apply for help. If you are age 60 or older, you can also take advantage of the TCE (Tax Counseling for the Elderly) program, another IRS initiative. This program offers free assistance for those nearing retirement that have questions about their pensions, retirement, income, and taxes.

Another way of getting free money from the government is to replace damaged currency. If your dog destroyed your wallet or your toddler took a pair of scissors to your bank withdrawal, you aren’t necessarily out of luck. Don’t throw those shredded bills in the trash just yet. You can sometimes replace currency too damaged to be spent it at your local bank branch. If it’s so mutilated even they won’t take it, though, you can also send it to the Bureau of Engraving and Printing for replacement.

Applying for unemployment can also help you get free money from the government. People that are eligible for this program of getting free money from the government are people that have been laid off or otherwise lost their job. The Department of Labor offers temporary benefits to workers who find themselves unemployed through no fault of their own, until they are able to find suitable, replacement employment.

In urban areas, paying for necessary home repairs is a way of getting free money from the government.  If you are 62 years of age or older, live in an urban area, and meet income requirements, you may be eligible for a government grant to complete improvements on your home. The Rural Housing Repair Loans and Grants program offers both loans (repaid over 20 years at 1% interest) and grants (free money that doesn’t need to be repaid) to homeowners in rural areas. The grants are for up to $7,500/ you can use them to remove or repair health or safety hazards (such as lead paint, collapsing structures, etc.).

Refunds for past FHA mortgages are another means of getting free money from the government. This is applicable for people who have had an FHA insured mortgage in the past; the U.S. Housing and Urban Development Department (HUD) have the possibility of owing you a refund which results to getting free money from the government. You can search the HUD database to see if you’re eligible for a refund through their website. You’ll need at least your last name or your FHA case number to search.

Food assistance has the ability to earn you free money from the government. This happens because the government offers a number of programs that give low-income families nutrition assistance and education on healthy eating. These programs include WIC (for women, infants, and children), SNAP (Supplemental Nutrition Assistance Program), programs for seniors, and various food distribution options. If you are interested in learning more, visit the Nutrition.gov page here.

The last way to get free money from the government we will talk about is SSI for eldery or disabled individuals. If you are temporarily or permanently disabled, have a child who is disabled, or are over age 65 (with or without a disability), you may be eligible for supplemental security income (SSI) benefits. These benefits are limited to those that meet certain income requirements. If you have worked long enough to qualify for Social Security benefits, you may be able to collect both Social Security retirement benefits and SSI benefits.

Multiple Income Streams: Ways to Earn Extra income

April 04, 2019 11
One way of making a major impact on your finances is to start generating multiple streams of income. Adding an extra $500 monthly will go a long way towards paying down debt or increasing your investments. Diversifying our investments is often said to be important as a way to earn extra income, but diversifying our income streams is just as important particularly in difficult economic times. Let’s first see the value of an extra $1,500 per month before we talk about things to do to generate extra income and multiple income stream ideas.

The first thing about extra income has to do with savings account. To earn $1,500 a month ($18,000 per year) in a savings account at 1% (the current rate for top paying savings accounts), you would need to save $1,800,000.

Investment account is the second thing to consider when it comes to adding extra income to your income. To earn $18,000 from investments at 10%, you would need to invest $180,000. Looking at the best robo advisors or online discount brokers is a good place to start.

Employment is equally important in earning extra income. For many, to get $18,000 in raises could take several years of dedicated service to your employer.
Financial freedom should also be considered in earning extra income. Extra income of $1,500 per month could cover car payments, help pay down credit card debt, or cover some or even all of a mortgage payment.

The next thing is to talk about things that can be a source or sources of extra income. Getting extra job is usually what people expect when it comes to adding extra income but this is not so. The factors below can be considered when it comes to generating extra income.

The first factor to be considered in generating extra income is flexibility. The ideal source of extra income will allow you to call the shots when it comes to your time. Particularly if you have a full-time job, the last thing you want is being tied down to working a set number of hours each week at a second job.

Scalable is the next factor to be considered in generating extra income. This means looking for income sources that have at least the possibility of generating substantial amounts of income.

Sustainable is the next factor to be considered in adding extra income to your income. The ideal extra income source will continue to generate cash even when you’re not working at it. The idea is to build something that can eventually function without you.

The enjoyable factor should also be considered in adding additional income to your income. This means you should make sure the source of your extra income is one that you enjoy doing.
Make sure the source of your extra income is inexpensive. It should not require a big financial investment.

Below are extra income ideas that can help you generate extra income for the running and sustenance of your family and self. Make sure you choose something that fits your interests and personality. You may have certain skills, training, or education that will dictate what’s best for you. Or you may want to learn a new skill, so you can do that while earning extra income.

The first extra income idea is taking paid surveys at home. You can earn money at home through taking surveys. Companies desperately want your opinion, and they are willing to pay for it. The trick, of course, is knowing where to find the paid surveys that pay the best. Two of the most popular and legitimate survey sites are Swagbucks and MyPoints. Not only can you make money taking surveys, but you can also make money by watching videos and even surfing the net. They also offer significant cash back for online shopping.

The eBay Store is another means of earning extra income. You can easily run a store on eBay without actually having a physical store. You can also buy products that you can resell on eBay. But you can also create an online store to market products that others are selling on eBay and share in the commissions generated by the sales. Recently I interviewed a family friend who started her own eBay store and now makes five figures from home.

One of the best ways to earn extra income is to start an Online Business. This actually requires very little capital to start with and it can be easily run in the comfort of your home. One of such business is to start a blog. This is what most people started with.

Realtor is another means of earning extra income. This may seem like a crazy time to start selling real estate. As prices go up, more would-be realtors enter the market. But you have to start sometime. You’ll need an initial investment to obtain your real estate license, but over the long term have the potential to make a substantial income.

One common way most people earn extra income is through website design. With the continued growth of the Internet, website design has become a growing industry. Unless you already have the know-how, you’ll need to spend some time learning the technology. But there are plenty of online resources available, and the best in the business can earn a great income.

Graphic Artist or Designer is another means of earning extra income. There are a lot of ways to generate money through graphics. Just the logo business alone could keep you busy if you have the artistic skills necessary to develop cool graphics.

Becoming a virtual assistant is another means of earning extra income. This does not require your physical presence before you do what they need you to do. An example is a virtual assistant from India working for people in the US. It is possible to earn as much as $30 being a virtual assistant per hour. UpWork is a starting place for such job.

Freelance Writing can also earn you extra income if you delve into it. If you have a knack for writing, you can earn great money writing for others. Not sure how to start? Contact bloggers, who are always looking for great writing. As blogs grow, they can afford to pay freelancers good money for quality articles. Websites looking to build links also hire freelancers to write guest posts to be published on blogs and websites.

Home Business is a great idea for earning extra income and potential for home business are limitless. Running home business greatly reduces your initial investment and this is one of its benefits. You can run creative memories stores, operate a video business or sound studio from home.

Selling a product can also earn you extra income. You can design children’s game and market it to your friends and neighbors who have kids. This can be a lot of work but the pay is also huge.
The last thing we will talk about in earning extra income is working on Fiverr. Perform micro-outsourcing jobs for people looking for your expertise. From graphic design, voiceover to writing greeting cards. Anything you like is possible on Fiverr’s digital platform


Ways you are overpaying for Your Auto Loan

April 04, 2019 0
Looking back at the last time you bought a car, you can still remember the features you wanted in the car, the general amount you could afford to spend and you may have even known exactly which vehicle you wanted. Half of Americans utilize auto loan to buy a car rather than paying for the car in cash. With over 44% of the country financing their car purchases, it would be expected that they would be well versed in optimizing their auto loans. The truth is, though, that the average car buyer overpays by a lot, losing out on thousands of dollars over the life of their vehicle’s repayment. So, how can you finance your next car purchase without wasting money? Here are six mistakes that consumers typically make, causing them to overpay for their auto loans, and how you can avoid doing the same the next time you walk onto the lot.

Only focusing on monthly payments: People know the amount they can spend on the auto loan monthly; whether they have been able to crunch the budget meticulously or they are simply going off their current car payment, there is no way they will go to the dealership without having a number in mind. You do not need to put your entire mind on the number as it can result in spending your auto loan. It is even possible for some car salesmen to ask you the amount you are willing to spend monthly on the auto loan. This question is for them to make a deal that matches that monthly payment you are willing to pay on your auto loan, although, it might not be the best deal. There is also possibility for hidden costs or unwanted add-ons in the auto loan which you might not notice. You may be less likely to pick through each line item with a fine-toothed comb if you walk into the dealership with a monthly payment as your focus rather than a total loan. Make sure you determine how much you want to spend both monthly and in total on your auto loan when you are doing your pre-shopping research.

Assuming that Dealership Funding is Your Only Option: In-house financing is offered by dealerships and this makes it easy to buy your car and set up your auto loan simultaneously. You should not be ignorant of the fact that dealership funding is not the only option and it is also not the best option as over 60% of Americans do not know this. It has been concluded based on research that consumers waste as much as $3000 on their auto loans. Combine that with the dealer’s interest rates, which might not be the lowest you’ll find, and you’re on track to spend a lot more than necessary over the life of your auto loan. In fact, a recent study from Outside Financial, an auto loan matching company, found that car buyers spend an average of $1,717 extra when they take out an auto loan through the dealer directly. That’s quite a bit of money to spend on hidden markups. Shopping around for other lending options is important; you have a lot of cash at stake.

Giving a Low Down Payment; there is always a choice of how much you want to put down when you are financing your auto loan. This builds the auto loan immediate equity in your purchase and also secures the auto loan. What down payment does is to reduce the amount you need to finance. The total price you will pay for the vehicle can also be reduced by down payment. No interest is needed where down payment is involved in auto loan. This will be saving you hundreds over the course of your payment. If you have the plan to refinance or are lucky enough to total your vehicle, down payment is a very good option for you. You should also keep in mind that cars depreciate rapidly and you can easily wind up upside down or owing more on the car than its actual worth. Being upside down will make it impossible to refinance down the line. This means that you won’t be able to take advantage of a reduced interest rate or lower your monthly payments. If you happened to total your vehicle, insurance would likely pay you for the value of the car, minus depreciation. If you owe more than that on your auto loan, though (and don’t have GAP insurance), you’ll be forced to write a check to your lender for the difference. Choosing a healthy down payment will save you money in interest charges and save you stress as well.

Choosing Long Auto Loan Terms: This means the longer you take to pay off your auto loan, the less of it you will pay monthly. As appealing as it sounds, it is not the best choice for auto loan financially. Typically, a longer loan term will mean a higher interest rate. Lenders usually reserve their best rates for short loan repayments, so you’ll pay more for your new car in the long run–even if it’s more budget-friendly along the way. A long auto loan term also means that you are more likely to wind up upside down on your loan at some point. The longest auto loans are typically 6-7 years in length–depending on the vehicle you drive, how much you paid, and how you drive it, this can easily be enough time to lose depreciation faster than you’re able to pay down the auto loan. What you should do instead is to choose an auto loan repayment that is as fast as you can easily afford. Make sure it is not longer than 60 months. This can also mean buying a car that is not very expensive so you can pay off your auto loan on time.

Missing Hidden Fees: We already talked about the sneaky charges that often find their way into dealership auto loans, which cost consumers thousands of dollars extra on their vehicle purchase. But even if you walk into the dealership with your own secured funding, you can still wind up paying these unnecessary fees. It’s all about reading the fine print of your purchase contract. Some of these fees could include extended warranties on your auto loan that you didn’t bargain or requested for. Paying for things such as fabric/leather protection, vehicle delivery and advertising fees can be included in your auto loan which can be hidden fees. Sometimes, some of these fees are reasonable but be careful for duplicates and always remember that negotiation is always the name of the game in buying a car. Just remember that every extra penny you spend on your vehicle is even more once you factor in financing charges on your auto loan.

Not Refinancing When You Can: There are a number of reasons you will want to consider refinancing your auto loan down the line. Not taking the opportunity when it presents itself can even cost you hundreds, or thousands, of dollars. If your credit score has improved since buying your vehicle, or if the economy has shifted and interest rates have dropped, you might want to look into refinancing. Even dropping your interest rate by a percentage point or two can make quite a difference across the life of your auto loan. If you are willing to reduce your auto loan monthly payment or if you need to remove a cosigner from your original auto loan, you can look into refinancing. Refinancing with SoFi will be of good help to you if you are struggling with a high auto loan payment at the moment.

Buying a vehicle is a pricey venture, no matter the specifics of your new car or the financing you choose. This just makes it even more important to save every penny you can on your auto loan. Watch out for unnecessary charges, shopping around for the right lender, getting the lowest rate and handing over a healthy down payment can all work in your favor for your auto loan. Avoid overpaying for your auto loan when it comes to buying a new car.