‘I truly just don’t know what to do now’: Recently laid off, maxed card, bills due- advice?

Hi Money Minder,

So, I recently got laid off out of nowhere and my bank account is down to about $100. Feeling like the walls are closing in with bills coming up soon. I’ve been going crazy trying to figure out personal loans, quick access loans, and different apps and online lenders. But I keep backing out because it all feels sketchy and I’ve been scammed before. I’ve applied to over 30 places in the last week, but my credit card is maxed out and I have no income coming in. I’m really lost and don’t know where to turn. I don’t have any family to ask for advice or help, so I’m reaching out to you for some guidance. Any ideas or advice would mean the world to me. Thank you.

Response from THE MONEY MINDER:

Hello There,

I’m sorry to hear about your recent layoff and financial struggles. It’s completely understandable to feel overwhelmed and unsure of what steps to take next, especially with bills looming and limited resources. It’s commendable that you’ve been actively applying for new opportunities despite the circumstances.

Given your concerns about personal loans and online lenders, it’s wise to be cautious and avoid falling victim to scams. One practical approach to consider is reaching out to local community resources or non-profit organizations that offer financial assistance or guidance. They may be able to provide resources for job search support, budgeting assistance, or even emergency financial aid to help bridge the gap until you secure new employment.

Additionally, reviewing your expenses and cutting back on non-essential items can help stretch your remaining funds. Creating a prioritized list of bills and contacting creditors to explain your situation can also potentially buy some time for payment arrangements. Exploring part-time or gig work opportunities can provide a temporary income stream while you continue your job search.

Remember, you’re not alone in this challenging time, and seeking support from organizations that specialize in financial assistance can offer valuable guidance and solutions. All the best from THE MONEY MINDER.