6 Ways to Get Free Money When You're in a Pinch 👀

You might be in a tough spot and need some extra cash. But, everywhere you look lenders are either offering you 0% interest that balloons to 25% after a year, high rates from the start, or a subscription fee to access the cash. If you don’t feel comfortable asking your friends and family, the good news is, there are organizations that give loans with 0 interest to help you get through this time.

1. Free Loan Societies

There are many free loan programs managed by religious or non-denominational groups. For more of these organizations, you do not need to be a part of that religion or denomination to qualify (for example, you do not need to be Jewish to apply for a loan from the Hebrew Free Loan society, just like you don’t need to be a young Christian to attend a YMCA).

Check out some organizations here:

Find your Agency | IAJFL

http://lendjustly.com/

2. Salvation Army

The Salvation Army is a huge organization which you’ve probably heard of with respect to clothing donations, but they offer a whole host of services, like free food, shelter, recreation, family counseling, and emergency financial assistance. Reach out to your local Salvation Army for help here.

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3. Your Local Religious Organization/Community Center

If you are involved in a church or community center, they may have programs for financial, food, or shelter assistance.

4. The Government

The government has tons of assistance programs that it’s sometimes tough to dig through them. Here are a few that can be helpful:

  1. Emergency Rent Assistance Program (ERAP or ERA). Each state has funds for rental assistance, so search ERAP program or ERA program on Google to find your state’s application portal.
  2. Home Repair Loans. If you own a home, you may be able to apply for a low interest loan or grant from the government to repair your home. Folks who may be eligible include:
  3. Elderly folks
  4. Native Americans
  5. Rural homes
  6. Veterans
  7. Check out this site for more details
  8. Low Income Home Energy Assistance Program (LIHEAP). This is a federally funded program that gives each state funds to help low income folks pay utilities. Check out your state here.

5. Fintech Apps

There are several apps that can spot you anywhere from $50-$500 for a month, for free (or almost free). Be careful, you may see ads like these everywhere - some of these apps charge a monthly subscription. Here are a few who are free, or almost free:

  • Chime - up to $200. Must have qualifying direct deposits with their checking account
  • Moneylion Instacash - Up to $500, more if you have other products with Moneylion
  • Earnin - Up to $100 per day.
  • Dave - Up to $500, but requires a $1/mo monthly membership fee.

6. Your emergency fund

Ok, ok - we know this isn't really an example. But, this is the best interest-free cash there is. Not only that, but you actually earn interest on it. Get started on building your emergency fund, or better yet, get rewarded for building an emergency fund with the Debbie app - you can sign up here.

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