Lost Your Income? Here Are 6 Ways That Can Get Out of a Financial Crisis

Picture this: You now live alone in an apartment after coming out of school and landing your first job. You’re ecstatic with your newfound freedom. You’re elated to cater to your needs including paying rent and taking care of bills. Everything seems to be going well for you.

Then, like the proverbial cookie, everything crumbles. You get laid off from your job, and all your dreams come crashing. You can’t take your retirement savings because, well, you didn’t work long enough to save anything.

Now, you don’t have a sustainable income, but your expenses remain the same. The end of the month is just around the corner. Your rent, electricity and other utility bills will soon be due. You also need food. And you’ve exhausted your savings. Reality hits hard. For the first time, you are worried about how you’re going to keep a roof over your head.

Look, you may think you have everything figured out, but it is inevitable to avoid a financial crisis. The good thing is, there is a way you can get emergency financial assistance to help with your bills until you get back on your feet. Let’s look at some of the options you have.

  1. General resources

There are government agencies as well as charities that aid in providing food, basic utilities as well as housing for people with low income and in dire need of help. While these programs exist, it’s difficult and applies to them. It is a hassle to get yourself into these programs.

But not anymore. In your area of residence, you can check out general resources that could connect you with a handful of government agencies and charities to aid in financial assistance. General resources could come in the form of phone lines or even websites to help link you up with a reliable program or charity, with no hassles whatsoever.

  1. Take advantage of government benefits

These benefits are often put up on benefits.gov. This is the first place you need to be whenever you hit by the financial crisis you can’t manage. The website is managed by the government and you can link up with various government programs within your area and state.

If you need a particular government program to help you with your needs, you get to choose a category such as healthcare or disaster relief. Using relevant filters on the site it is easier to find the ideal program by agency, state or even category.

If you’re lost, you can use the “benefits finder” on the site to locate the relevant programs designed to meet your needs. Sometimes you’ll hit a dead end in your search because some of the programs are not specifically designed for you.

  1. Community Action Agencies

If you want to become self-sufficient you can employ the use of Community Action Agencies (CAA). This program is a non-profit organization whose initial objective was to help combat war on poverty in 1964.

Since then it has helped people in the financial crisis (on a short-term basis) to get back on their feet. The agency provides help by meeting your transportation, housing, energy bills, and other related costs.

These community action agencies are funded through government programs in the form of grants. This money is channeled all the way down to local groups in towns and cities across the country. There are many of these agencies set around in the country and states.

All you need is find the one that serves your area for financial assistance or emergency aid such as food, shelter, and clothing. Some of CAAs provide healthcare services and food aid as well. Even sometimes childcare, job training, and education. So far over 16 million people have benefited from community action networks, and another 3 million families get help each year.

  1. The 2-1-1 program

If you can’t get national assistance or emergency aid from community action agencies within your area, you can connect with aid programs such as the 2-1-1 program to help cater to your financial needs. The good thing with this program is, it helps you find:

  • Food banks
  • Utility, housing aid, and shelter assistance
  • Disaster and emergency relief
  • Education and job training
  • Veteran services
  • Vaccinations, healthcare, and epidemics, etc.
  • Special needs, mental illness and support groups for people
  • Alcohol and drug addictions

If you want to find assistance from these programs, call 2-1-1. You’ll have a specialist on hand to help you cater to your program needs. If you want to enter a 2-1-1 program in your area, all you need to do is enter your address at 211.org and you’ll be connected with a program that caters specifically to your area.

  1. Lost income

When you are laid off from your job you can get into financial crisis. The same can happen when your work hours are cut, or a disaster has wiped out your business or even when you succumb to an injury that leaves you incapacitated and unable to work.

There are programs to help you recover from your lost income. They are designed to get you back on track with your finances. Some of these include:

Unemployment insurance – If you’ve lost your income you can always file for unemployment benefits and this program will help refund your lost wages every week for a limited of time.

Job training – If you don’t have work or need training for a better job The U.S. Department of Labor will help run several programs that can help you achieve this goal. Across the country, you can find training centers to help search for jobs for unemployed people.

  • Workers compensation– There are programs that will help compensate you lost income in case of an injury or illness that you got while working.
  • Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) – If you are permanently disabled and unable to work for the rest of the year you can enroll in a social security disability insurance to access disability benefits. The less wealthy people can access SSI, but if you’ve worked long enough to acquire work credits you are eligible for SSDI.
  • Tax credits– If you want to supplement your income, especially if you are working and not earning enough to sustain you, you can claim your tax credits when filing for taxes.
  • Disaster relief– A disaster has hit your business? You can get disaster relief benefits as a victim of disaster to recover your lost income.

Government aid or programs can help you get back on your feet again if you’ve lost your income and have no way to sufficiently get back on track. You can also get grants to cover any emergency expenses, emergency bad credit loans that are unpaid also including regular bills and medical bills, etc.

  1. Housing

Perhaps one of the scariest things about being in a financial crisis is not having the ability to pay your house rent. It can put you in a dire situation that could see you put out on the streets if you fail to pay. If you’re cash-strapped and you need money to meet your monthly rent payments, there are government-funded programs that could help with that, including:

  • Section 8 vouchers– If you can’t afford to pay your monthly rent you can enroll in a housing program aptly referred to as section 8. The program will help raise the amount you can pay for rent. The housing choice voucher program is government-regulated.
  • Low-income housing– You can also get subsidized housing through the low-income housing program enables a landlord to lower rent to low-income tenants.
  • Rural housing aid– If you live in the rural areas and want to avoid foreclosure, you can seek help with your rent through rural housing aid.
  • Local programs– You can get housing subsidies through local programs with the help of other charitable groups and non-profit organizations with your rent assistance.
  • Volunteers of America– As a religious non-profit organization helps people with disabilities, veterans, seniors, as well as families in dire need, get affordable housing.


There are other government programs and charities that can help provide financial assistance in other areas including childcare and education, healthcare, food, utilities and also housing.

All these government programs are designed to help you cope with your financial crisis and get back on your feet. But in the eventuality, you need financial assistance to say, due to a major health problem car crash or house fire, you can always use your emergency fund to cushion yourself during those moments your finances hit a dead end.

If you’re not prepared for a financial crisis, do so now. You never know what could happen to your finances when you least expect.

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