Financial Help for You and Your Family
Finance (Photo credit: Tax Credits)
Sometimes, despite their best efforts, people find themselves facing some desperate financial times. They aren’t sure how they will be able to pay for even the most basic necessities of life, let alone afford the extras that most people have become accustomed to. Paying the mortgage, keeping the utilities on, or even keeping food on the table can be really tough for those in the middle of a financial crisis.
If this all sounds familiar to you, you should know that there are avenues that you can follow to try to get some assistance. While each of these options has their own criteria that must be met before you can take advantage of them, these are great places to start looking for the help you need to get your family finances back on track.
Centrelink – Part of the Department of Human Services, Centrelink offers a variety of payments to people who are facing tough financial circumstances. Recently unemployed? You might be eligible for a Newstart Allowance. Need help paying for your children’s child care? Perhaps you are eligible for a Child Care Benefit. You can find out what Centrelink payments you are eligible for by visiting your local Centrelink Customer Service Center or by checking out their website at the Department of Human Service’s web page.
Early Withdrawals from Superannuation – Is your bank threatening to foreclose on your home? Are you dealing with impossible to pay medical bills? If you meet the requirements, you may be able to make a lump sum withdrawal from you superannuation. If you’ve exhausted all of your other alternatives, you can contact the Department of Human Services to see if you can access you retirement funds prior to the age of 55. Be aware, however, that there may be tax ramifications of this withdrawal.
HUGS (in Western Australia) – Residents of the state of Western Australia may qualify for the HUGS program. HUGS (Hardship Utilities Grant Scheme) is a government program designed to help ensure that people facing financial hardship continue to have access to electricity, water, and gas utilities. You must have an overdue account with a HUGS participating utility. Representatives with that utility will direct you towards applying for a grant after you have proven that you are unable to pay your bill.
Payday Loans – Payday loans may seem like a great idea for people facing tough financial circumstances. How else can you get a quick loan to cover immediate expenses? You must be careful with these loans, though. The interest rates associated with these loans can trap you in a cycle of payments that leave you in worse shape than you were in when you took out the first loan.
The Salvation Army – The Salvation Army is available to help people who find themselves in the direst of situations. If you find yourself facing homelessness or in an financial emergency, the salvo’s are a great organization to seek out for help.
The above are just some examples of how families can take advantage of community based and non-profit services in their time of need. Whilst some of these organizations are specific to Australia, there are similar programs in most countries.
Category: Family Finances
