What Can I Do If I'm Struggling Financially? 2026 Guide

When money feels tight, the smartest move is getting a clear picture of where it's going. Spend two weeks tracking every dollar—from your rent payment to that midday coffee run.

Write down everything. Then list your income alongside your expenses, pick one or two areas where you can trim this week, and contact your creditors to ask about payment plans. Broadview's team is ready to walk through budgeting strategies and debt management options with you.

Getting Started: You don't need a perfect system overnight. Understanding where you are today is the first step toward building something that lasts.

Build Your Basic Snapshot

• List your income: Paychecks, benefits, side earnings—capture it all.

• Track fixed costs: Rent, utilities, insurance, and minimum debt payments come first.

• Note variable spending: Groceries, gas, entertainment, and those subscriptions you forgot about.

• Spot the gap: Subtract total expenses from total income to see your starting point.

Once the numbers are in front of you, make one change this week. Maybe it's canceling that streaming service you haven't watched in months, packing lunch twice instead of buying it, or switching to a lower-cost phone plan.

Government Programs for Food, Bills, and Housing

Federal and state programs exist to help cover groceries, heating costs, and rent when you need it most. Applying is typically free and confidential, and most agencies now accept online submissions.

How to Apply

• Check your state website: Programs run through local agencies, each with their own application portal.

• Gather documents: You'll need recent pay stubs, tax returns, and proof of address.

• Apply early: Processing takes time, so don't wait until you're in crisis mode.

• Ask for help: Broadview's team can point you toward local resources and review your budget while you're waiting for assistance.

Think of these programs as breathing room. They cover the essentials while you're building a realistic spending plan that works long-term.

Manage Debt and Cut Costs Effectively

When debt starts piling up, begin with a complete inventory: every balance, interest rate, and minimum payment. Then choose your payoff strategy. The avalanche method tackles the highest interest first, saving you money over time. The snowball method starts with your smallest balance, giving you quick wins that build momentum.

Strategies to Reduce What You Owe

Cut Costs Without Feeling Deprived

• Negotiate bills: One phone call to your internet, phone, or insurance provider might land you a lower rate.

• Pause subscriptions: Cancel what you're not using, rotate streaming services, or downgrade to basic plans.

• Sell unused items: Local marketplaces and consignment shops turn clutter into cash.

• Add income: Side work—delivery driving, pet sitting, freelance projects—helps fill the gap while you're getting back on track.

Schedule a budget review with Broadview to pinpoint the changes that'll make the biggest difference for your situation. If you're juggling multiple payments, ask about consolidation loan options that give you one payment and a clear payoff date.

Build Stability with Broadview's Support

Once the immediate pressure lifts, focus on building a small emergency fund. Start with $500, then work toward one month of essential expenses. Automate small transfers each paycheck so you're building this cushion without thinking about it.

Member Tip: Broadview's savings tools let you create named buckets for specific goals. Keep one labeled "Emergency Only" to reduce the temptation of dipping into it for non-emergencies.

Steps to Strengthen Your Foundation

• Open a dedicated savings account: Keep emergency money separate with a Broadview savings account designed for this purpose.

• Review your budget monthly: Life changes. Your spending plan should change with it.

• Split direct deposit: Route part of each paycheck straight to savings before it hits your checking account.

• Schedule a coaching session: Broadview can help you map out realistic payoff dates and savings targets based on your actual income and expenses.

If you're wondering what you can do when money's tight, start by talking with Broadview about options like lower-rate loans, overdraft alerts, and a spending plan that actually fits your life. Visit a branch or give us a call to set up a time.

The Homeowner Assistance Fund may provide help if housing expenses are your biggest concern right now.

Apply Now

For a comprehensive list of assistance programs, check the benefits directory for individuals and families across the country.

The Treasury's Homeowner Assistance Fund also offers support to prevent mortgage delinquencies, defaults, foreclosure, and displacement for homeowners facing financial hardship.

Frequently Asked Questions

What should I do if I'm struggling financially?

If you're struggling financially, the first step is to get a clear view of your money. Track your spending for a couple of weeks to see exactly where your money goes, then list all your income and expenses. This snapshot helps you identify one or two costs you can cut right away to start making a difference.

How can I begin to improve my financial situation when I'm struggling with money?

To begin improving your financial situation, focus on building a basic snapshot of your current finances. List all your income sources, track your fixed costs like rent, and note your variable spending on things like groceries. Once you see the numbers, you can make small, lasting changes, like canceling an unused subscription or packing your lunch a few times a week.

Are there government programs available to help when money is tight?

Yes, absolutely! When money is tight, federal and state programs can offer a helping hand with essentials like groceries, heating, and housing. Programs such as SNAP, TANF, LIHEAP, and Emergency Rental Assistance are available, and applying is typically free and confidential. You can usually find information and apply through your state's website.

What are effective strategies for managing debt when I'm struggling financially?

Managing debt effectively starts with listing all your balances, interest rates, and minimum payments. Then, you can choose a payoff strategy like the avalanche method, which focuses on highest interest debts first to save money over time, or the snowball method, which tackles the smallest balances first to build confidence with quick wins. A consolidation loan might also simplify payments and reduce due dates.

How can I cut costs without feeling like I'm giving up everything?

Cutting costs doesn't mean feeling deprived; it's about making smart choices. Try negotiating bills with your internet, phone, or insurance providers for lower rates. You can also pause or downgrade unused subscriptions, sell items you no longer need, or even add a little extra income through side work like pet sitting. Small adjustments can add up to big savings.

Why is building an emergency fund important, and how do I start one?

An emergency fund is incredibly important because it provides a financial cushion for unexpected events like car repairs, medical bills, or job changes, helping you avoid falling deeper into debt. Start by aiming for $500, then work towards saving one month of essential expenses. Automating small transfers from each paycheck into a dedicated savings account is a wonderful way to build it steadily over time.

^{Last reviewed: March 3, 2026 by the Broadview Team}