Resources to handle Financial Emergencies

Image showing a woman on her laptop with a bunch of papers and worried about finances

Life throws curveballs sometimes, and finances are no exception. Unexpected expenses can leave you feeling overwhelmed, but don't panic! Here are some steps to navigate a financial rough patch:  

  1. Take a Breath and Assess: Jot down your bills and see if your current income and savings can help. You can check budgeting tips on Personify’s blogs to help you work through the situation. 
  2. Prioritize Like a Pro: Entertainment, eating out, and other non-essential purchases might need to take a temporary backseat. 
  3. Talk it Out: Be upfront with creditors and explain your situation. They may be willing to work out a payment plan or temporary break. 
  4. Explore Extra Income Streams (Optional): Consider a part-time gig, selling unused items, or freelancing if it fits your schedule. 
  5. Don't Go It Alone: Free financial counseling can help manage debt and create a budget. Look for NFCC or FINRA certified advisors. 


Helpful resources for common types of financial emergency: 
 

Medical emergency 

  1. Ask about payment plans or financial assistance programs through the hospital or medical provider 
  2. Nonprofit organizations, such as the Patient Advocate Foundation and HealthWell Foundation might be helpful 
  3. Explore disability benefits, if the medical emergency results in a loss of income 
     

Job loss 

  1. Sign up for unemployment benefits through your state’s unemployment insurance program 
  2. CareerOneStop, is a resource sponsored by the U.S. Department of Labor that offers free job training, guides and job search 
  3. TaskRabbit, is an online service that connects you to locals seeking out paid help with a variety of needs, from furniture assembly to painting 
     

Natural disaster 

  1. Find assistance through the Federal Emergency Management Agency (FEMA) 
  2. Find nonprofit organizations and local community groups, such as the Red Cross
     

Identity theft 

  1. Identity Theft Resource Center (ITRC) provides free assistance to identity theft victims 
  2. IdentityTheft.gov offers free recovery plans for victims 
  3. Research victim compensation programs through your state 
     

Other resources 

  1. Temporary Assistance for Needy Families (TANF) 
  2. Low Income Home Energy Assistance Program (LIHEAP) provides emergency funds to help cover utility costs 
  3. Feeding America is a nonprofit that provides emergency food assistance 
  4. Personal finance apps can help you establish a budget and find where to cut down on expenses. 
     

Bottom line: You can get through this. Prioritize your spending, communicate with lenders, and seek help to reduce the overall impact of the emergency until you can budget your way out. And don’t hesitate to explore the many programs and resources available to provide emergency assistance. 

Disclaimer: The material presented here is for informational purposes only and does not represent specific financial advice to you or your circumstances personally.
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