MoneyLife

Need Help Paying Rent? (9 Solutions for Tough Times)

By Kaitlyn Wolf
help paying rent

Not being able to pay your rent on time can be a frightening situation to face. You might be racking your brain trying to figure out where that cash is going to come from. Or maybe you’re moving and aren’t quite sure how much of your salary should go towards rent.

Don’t worry. We’re here to help! Read on to find out everything you need to know about rent, mortgage assistance programs, bill pay assistance, credit card relief, how to sell your investments, and how to make money from your smartphone. 

9 ways to help pay your rent 

There’s no shame in needing help paying rent, especially after being hit so hard by the coronavirus pandemic. As government protection acts are coming to an end, getting resourceful and finding ways to pay your rent are becoming necessities. 

After June 30, 2021, the eviction moratorium—the relief set forth by the CDC that stopped evictions in all 50 states to proactively slow the devastating effects of COVID-19—will no longer be in effect. This means you’ll be required to pay your rent any time after June 30th in order to avoid facing eviction.

Here are 9 ways to pay your rent and avoid being evicted next month! 

1. Play solitaire for cash

Want to make money with your smartphone? Now you can! Not only can you make money with your phone, but you can do it by playing games. Get paid to play solitaire with the free iPhone app called Solitaire Cash. You can cash in up to $83 for every win! This app doesn’t cost you anything even though you’re playing for real money.

You’ll have the option to buy into higher-stake tournaments, but only if you choose to. In each round, you’ll be playing against at least five other players, and the top three players who solve the deck the fastest can win real money. You’re looking at winning anywhere from $1 to $83 per round. Anyone with an iPhone or iPad is eligible to play. 

2. Apply for a Modest Needs® grant

Unexpected expenses happen. It’s a fact of life. If you or your household live paycheck to paycheck, unforeseen payments can cause you to be in a position where you aren’t able to pay your rent. A Modest Needs® grant is designed for workers who live just above the poverty line and are ineligible for other forms of monetary assistance. 

For example, let’s imagine you recently acquired high medical bills, had to take a leave of absence from your job, or got in a car accident, rendering you unable to afford your rent. The Modest Needs® grant would provide you with assistance to help you pay bills under these kinds of documentable emergencies. 

Individuals and households living just above the poverty line are eligible to apply for this form of financial assistance. This type of grant gives priority to people living alone, public school teachers, and first responders. 

3. Find 0% interest instant cash advances

Traditional instant cash advances are costly, and they can leave you feeling like you’re digging yourself into an even larger financial rut. Fortunately, not all instant cash advances are created equal. 

Start feeling more secure in your ability to pay your rent by taking advantage of 0% Instacash advances from MoneyLion. You can get up to $250 whenever you need it without having to worry about monthly fees or credit checks. Plus, you get to decide how soon you want the money in your account. 

4. Apply for rent and mortgage assistance programs

Rent assistance programs provide funding to households that are unable to afford their rent and utility bills. Families are generally eligible for rent and mortgage assistance if the household income is below a certain income standard set by the Department of Housing and Urban Development

Unlike poverty measurements for other federal benefit programs, this assistance program helps low-income individuals and households. Income eligibility varies based on your local area’s median income. Rent assistance connects you to thousands of local agencies and non-profit organizations that are ready to help you pay your rent. You can also compare competitive rates. 

5. Look for online cashback deals

Score cashback deals on items you’re already buying from popular retailers. Purchasing necessities like toiletries, clothes and household items from RetailMeNot allows you to earn up to $50 back just for shopping through their site. 

Another option to earn cashback is by making purchases using a cashback debit card. Sign up for a RoarMoney℠ debit card and you’ll instantly start earning cashback just by swiping your card! 

6. Ask for credit card relief

Credit cards can serve as a lifeline when money is tight or you’ve lost your source of income. More and more Americans have been relying on credit cards as a resource due to the coronavirus pandemic. Unfortunately, credit card debt can add up quickly and cause long-term financial challenges. 

Contact your credit card company to find out if you’re eligible for any relief programs. Coronavirus credit card relief programs assist you by lowering or deferring your monthly payment, reducing interest rates, and helping you establish a payment plan to pay off your current balances. Credit card companies will often refund late fees or waive late fees altogether.

7. Apply for MoneyLion’s Credit Builder loan 

Establishing or rebuilding your credit doesn’t have to be a daunting task. Having good credit can mean the difference between renting a home and buying your dream place or being stuck in the only place your credit is accepted. Landlords look at several factors when it comes to choosing tenants to rent out their space to, so don’t let bad credit be the reason you don’t get the place of your dreams! 

With a Credit Builder Plus loan from MoneyLion, you’ll have the ability to build credit while saving for the future. This loan comes with no hard credit checks, so you don’t have to worry about your score going down either. If you need cash quickly, the Credit Builder Plus loan gives you access to a portion of your loan right away so you can pay your rent on time. 

8. Seek out utility payment assistance

If you’re unable to afford your home’s heating or cooling bill, you might be able to get help from the government or your local social services agency. The low-income home and energy assistance program (LIHEAP) will pay your heating or AC bills and provide emergency service in the case of an energy crisis, like a utility shutoff. 

LIHEAP will also pay for low-cost home improvements that make your home more energy-efficient. This will also lower your utility bills, with the exception of your water and sewer bills. 

9. Sell investments

If you’re strapped for cash and you have exhausted all other avenues to generate income, you might want to sell investments. Consider this more of a last resort move. 

Investments include real estate other than the home you’re currently living in, such as any rental properties that you own. Other investments that can be sold are stocks, trust funds, mutual funds, bonds, and exchange-traded funds (ETFs).

Solution made for you

You got this! Don’t let facing the first-of-the-month due date stress you out. Be proactive, know your solutions, and get that extra cash as soon as possible.

If you’re still struggling to make ends meet, we’ve got you covered. When you bank with MoneyLion and open a Roarmoney℠ bank account, you can get paid up to two days early. It’s everything you’d need from a bank account with no hidden fees, plus rewards for daily spending and a fully managed investment account!

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