Where to Find Financial Help During the Coronavirus
Financial help for the coronavirus may well be up there as the most searched term of 2020. The pandemic has touched nearly every part of our daily lives, but much of the collective fear and anxiety that millions of Australians are experiencing is related to finances. How will rent get paid? What about credit card bills or paying the electricity bill? In fact, a recent survey of more than 2000 Australians found that 60% are worried about paying their bills as the pandemic heads into 2021.
For the individuals and families who are living one paycheck to the next, small financial obstacles could now mean the difference between having a hot meal or a place to call home. In these stressful times, financial security can play a critical role in staying safe and healthy. Below, we lay out key resources on where to find financial help during the coronavirus pandemic.
10 ways to get financial help during the coronavirus
1. Food help during COVID-19
If you’re struggling to buy food that will keep you healthy and nourished, these organisations can provide help.
- The Australian Red Cross is supporting people who have little to no food by providing food and hygiene packs
- Meals on Wheels continue to provide meals to Australia’s most vulnerable people with extra precautions to reduce the spread of COVID-19
- There are plenty of community kitchens that have food available for those who are struggling. Visit Ask Izzy, put in your postcode and find which services are available near you
- Contact your local council to find out what food relief is available in your area as many offer weekly food drives. Find out the contact details of your council
- For national emergency relief including food and vouchers, contact the local branch of The Salvation Army or St Vincent De Paul
2. Coronavirus financial support with mortgage payments
For the millions of Australians who found themselves suddenly unemployed because of the COVID-19 outbreak, mortgage and rent payments are now a huge burden. Luckily, the government and mortgage lenders are stepping up to provide financial help during the coronavirus.
If you’re experiencing difficulty repaying your mortgage, Australia’s big banks (ANZ, Commonwealth Bank, Westpac and NAB) are have committed to provide situational assistance if proof of financial hardship due to COVID-19 can be supplied.
Options include negotiating a reduction in payment or changing your loan to interest-only for a period of time.
The terms and conditions all vary, so it’s worth getting in touch with your bank to find out what you need to do and whether taking a break from your repayments suits your circumstances.
3. Help with rent payments
For renters who are suffering lost wages, paying rent can be near impossible.
There are multiple ways to get rental assistance, beyond speaking with your landlord or property manager about your financial situation (although that’s a good place to start). If you need help with paying your rent in an emergency, these tips and tricks we’ve compiled will help you to avoid eviction.
4. COVID-19 financial support through crowdfunding
Crowdfunding can be a valuable alternative to government relief packages if you need help right away but don’t know how to get coronavirus aid quickly. Through an online fundraiser, you can find emergency financial assistance and receive funds in your bank account within days of getting your first donation.
For those who are financially secure, crowdfunding gives them a seamless way to help those affected by COVID-19 and make a real difference. It’s never easy asking for help, but know that your friends, family and even strangers want to lend a hand during this crisis. Whether you need help your own bills or you want to help those less fortunate, online fundraising can make all the difference — and quickly.
Financial relief for small business owners
If you’re a small business owner who needs financial help during COVID-19, crowdfunding is a great way to get some much-needed support. Often many people in the community aren’t sure how to help out small businesses but want to donate to keep you afloat. Follow these tips for fundraising and make sure you get your community involved. Share your story online and invite your network to get involved. You can even reach out to local media to expand your coverage. Some of these fundraisers have had enormous success, like campaigns to save this local café in South Australia and this fundraiser to help feed animals in a mobile petting zoo.
- Coronavirus Relief for Small Businesses: Seven Ways to Get Help
- These Are the Coronavirus Facts You Should Know
- How Restaurant Workers Impacted by Coronavirus Can Get Help
5. COVID-19 financial assistance with unemployment
According to recent reports, over one million Australians are out of work.
A few government initiatives to ease that burden are the JobSeeker Payment which works very much as the existing initiative that existed pre-COVID, and also the JobKeeper payment. Both are in their subsequent rounds, with a lowered payment amount. Sole traders, and casuals who have been working at a workplace for over a year are also eligible for this payment.
6. Help with credit card payments
If you’re worried about your upcoming credit card bill, some credit card providers are helping out by waiving monthly fees and charges. Get in touch with your credit card provider and find out how you might reduce your repayments in the short term. If you need help to negotiate your payment terms, visit the National Debt Hotline
7. Help with phone bills
Never before has it been so important to stay connected. Our telcos recognise it’s difficult for Australians to pay their bills in these uncertain times. Each telco has made their own statement about how they’re going to help out. For example, Telstra is giving personal and small business customers extra data and are offering unlimited standard home phone calls for pensioners.
Optus are allowing customers to put their current plans on hold if there’s no need for the service (in the case of small business). Vodafone are waiving late fees and have committed to reduce their data overage cost to $5/GB.
8. Coronavirus financial assistance with utilities
For many Australians, the quarterly energy bill is a big one that’s difficult to pay at the best of times. The Australian Energy Regulator has recognised there needs to be an industry-wide response to ensure households and businesses can get the help they need.
Most energy companies offer hardship programs with payment plans and deferred payments when things get tough. Many of them also pledge that power won’t be cut off during this period. This list covers some of the biggest energy retailers and the hardship programs they offer.
Similarly, many water provider companies have hardship provisions for people who are struggling with their bills over this period. Contact your provider to find out what payment plans are available.
9. Help with owed taxes
For individuals who owe on their taxes, the Australian Tax Office may consider your circumstances and arrange a payment plan or delay. Visit their website for more information.
Find the COVID-19 financial assistance you need right away
In these uncertain times, know that you’re not alone in your financial struggles. With a GoFundMe, your community can show up to support you through the coronavirus crisis. You can create a fundraiser within minutes on our fundraising platform and begin using donations to pay for food shopping, rent or other bills within just a few days. Start fundraising for coronavirus today and get the help you need quickly.