Saturday, August 3, 2019

Get Help Paying Your Rent

August 03, 2019 8
The statistics of Americans who qualify as rent-burdened is steadily on the rise in the past fifteen years and it has doubled from 19% to 38%. The statistic shows that these Americans spend three-tenths of their income on rent. The alarming number of people that qualify as severely rent-burdened is at the rate of 17%. These percentages all indicate that millions of American families are struggling to afford rent payments on their homes. In this article, we’ll discuss some ways that you can find and secure rent assistance if you find yourself struggling to make your payments.

Charitable Grants

You have the ability to secure assistance from church organizations or nonprofits if your family is in need of emergency or short-term housing assistance. You can usually find assistance through local programs, but there are national programs as well. Bear in mind that these programs are typically limited to those facing eviction or who need emergency services to help in the short-term.

Short-Term Housing Assistance
You can apply for short-term rental voucher assistance or subsidy programs if you are in need of rental assistance for 3 months or less. Check with your state’s local housing authority on what’s available to you. You can also contact the 2-1-1 hotline in order to see what programs may fit your needs.

Long-Term Housing Assistance
You can get such assistance through HUD’s Section 8 low-income housing programs. Qualifying for this process can be lengthy and you may need to join a waitlist, but it’s worth checking into see if you qualify for this program. You can also check with your local housing authority to see what programs are available to you and your family. They may have certain housing developments, or homes, within your city or state that are available to you for lower rent options.

Rural Rental Housing Assistance
This is limited to certain areas and in general rural areas. The assistance is for use when an individual or family is spending 30% or more of their household income on the monthly rent. The USDA also often has lower rental opportunities available to families that qualify.

Trade Labor for Rent
If you’re willing and able to work for lower rent, you may consider speaking with your landlord. There may be opportunities for you to provide labor in exchange for a discounted rental rate. Some ideas could be:

  • Cleaning the grounds
  • Lawn Mowing
  • Shoveling snow
  • Gardening
  • Painting
  • Repairs

If you are skilled in a particular area, like plumbing or electrical work, this can also be of benefit to you in negotiations.

Speak to Your Landlord
Negotiating your rent with your landlord is possible sometimes. Try speaking with your landlord to negotiate a modified payment if you are going through financial difficulty or you are finding it difficult to pay your rent.  Your landlord may be able to spread out your rental payments over a longer period of time than the 12 or 24-month agreement, thus lowering your monthly payment obligation. Your landlord may be willing to renegotiate your lease agreement terms and lower your rental payments in total. Keep in mind that your landlord is not obligated to change your rental agreement or accept lower payments; however, it is worth a try.

Find a Roommate
Getting a roommate in order to divide the rent so it can be affordable can go a long way if your rental agreement allows it. Be sure to clearly define how costs will be split with your roommate and have them written into your lease agreement as well; including your roommate into your rental agreement is important because it holds them liable to the terms as well.

Thursday, August 1, 2019

4 Reasons Why You Need Life Insurance Now & How to Buy It

August 01, 2019 0
One of the things people do not like talking about is Life Insurance. It is quite unfortunate that many people do not really consider going for a life insurance policy until an event in the family forces then to get a coverage. Consequently, they do not experience the full benefits of a Life Insurance Policy. This is why it’s essential to purchase life insurance as soon as someone else is depending on your income. Typically this is once an individual gets married or has a child. Life Insurance is an essential part of your personal finances and holding a policy can provide tremendous benefits. Here are just some of the advantages of Life Insurance:

Minimize Risk
Many times accidents can be inevitable and this is why it is important to prepare in order to minimize subsequent hardships for the family members who suffered a loss. What life insurance does is to render assistance in transferring risk from the family to the insurance company by paying a lump sum to help with financial gaps left behind. A policy can protect the family and the estate in a number of ways including paying final expenses, replacing a spouse's income, paying off debts, and covering children’s expenses.

Build Cash Value
Whole life policies combine protection benefits and also accumulate a cash value. A portion of the paid premium can be invested in the market or set aside to accumulate interest. The cash value of your policy can be used as collateral and be borrowed against or kept as an end-of-life payout.

Tax Advantages
Life insurance policies are shielded from taxation under most circumstances. Some of such situations include an increase in cash value of your policy through investments, lump-sum payments, investment dividends and payments to a spouse.

Peace of Mind
One of the greatest benefits of life insurance is knowing that in the event of your death you are not leaving your loved ones in a financial instability position.

How to Buy Life Insurance
Determining how much coverage you need is the first step when you decide you want to get a life insurance policy. There are many online calculators that can help you to get a ballpark on how much coverage you need. This method should just be used as a guideline. Next, it's fast and easy to request an affordable life insurance quote online. You'll receive a personalized quote based on your needs within minutes.

Don’t Wait!
It is important to get your life insurance when you are young because the younger you are, the less expensive life insurance is. The believe is older people are more exposed to risk to the insurers and you may not qualify for a life insurance policy and might likely end up paying more on your life insurance coverage. Start planning for your financial future using Life Insurance which is a way to reach out to your loved ones even when you are no longer with them physically.