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Watching Your Wallet: How to get together rent money

Photo: Dennis Capati / MGN
Photo: Dennis Capati / MGN(WNDU)
Published: Jun. 19, 2020 at 3:09 PM EDT
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Desperate times call for desperate measures as COVID-19 has turned many lives upside down and sometimes you've got to get creative to scrounge up that money for rent.

First, cut back on nonessentials--anything besides rent, food, power, water and gas.

Our partners at the financial website NerdWallet put a list together on ways to save money. They suggest cutting back on 401k contributions or stoping them all together at this time, in order to free up cash.

Make sure to reach out to all of your creditors to ask for assistance as you might have the option to delay payments.

Also, look into low-income programs for food and utilities--call and ask what's available.

If you're tight on rent money, talk to your landlord and explain the situation. Get any new agreement in writing. You could request an installment plan or see if late fees can be waived.

You can also apply for grants in your industry. Associations are raising money for people displaced from jobs.

And finally, don't be afraid to ask family members or close friends for help. We've seen some folks even raising rent money through GoFundMe.

If you don't ask-- on one knows you need help.

Copyright 2020 WILX. All rights reserved.

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