Six weeks ago, we launched Help for Difficult Financial Times to highlight government resources that can make your life easier during tough times.

As part of this effort, we ran a poll asking: What helps you most when money is tight? 5,352 of you responded:

• Savings 44%
• Family 21%
• Credit cards/loans 20%
• Government assistance 15%

With 64 percent of you stating that savings, credit cards, and loans are the resources you turn to in tough times, we know we need to continue providing information on those topics.

Given that only 15 percent of you turn to government assistance in tough times, we want to make sure you know about benefits that could help you.

Government assistance comes in different forms—from unemployment checks and food assistance to credit counseling and medical treatment. The resources we’ve highlighted on our Help for Difficult Financial Times page are meant to guide you in finding such assistance. These are some of the most popular resources:

• Government Benefits and Financial Assistance – Get information about grants, loans, financial aid, and other assistance.
• Mortgage Payment Assistance – Learn about mortgage relief, housing counseling, foreclosure, and more.
• Low-Cost or Free Health Insurance Options – Get the information you need to choose the health insurance plan that’s right for you and your family.
• Find a Job – Find a resume builder, get employment assistance, and search for jobs.
• Manage Your Debt – Learn about the steps you can take to get debt under control.

Although our six-week campaign to highlight Help for Difficult Financial Times has ended, we know that your struggles may continue. We will keep updating the tools and information we provide to help you get back on your feet.

If you’re looking for answers or resources to help in times of need, the Ask program from USDA eXtension may be able to help.

The Ask program lets you submit a specific question and then find answers that could help. If you can’t find an answer in the extensive database of frequently asked questions, you can submit your question to an expert and receive an answer within 48 hours.

Experts are available to answer your questions on a variety of topics including:

• Financial issues
• Childcare
• Military families needs
• Personal finance and more

See all the topics eXtension experts can help you with or submit your own questions.

To learn about other free resources to help you no matter what your financial situation, visit our page.

By Andrew Zumwalt, Associate State Specialist, University of Missouri Extension

Most of the time we think about taxes only at the end of the year as we prepare to file last year’s taxes. By taking some time now, you can complete some of those tax to-do list action items without the stress.

Retirement Accounts

Taxpayers have until April 15 of the following year to contribute to their Individual Retirement Arrangements, but if you have the financial stability to contribute now, it might make financial sense to do so. Not only do you avoid the rush, but your investments have more time to compound and grow.

Flex Spending Accounts

Flex spending accounts, offered by employers, allow employees to use pretax dollars to pay for eligible health care and dependent care expenses. However, any money left in these accounts at the end of the benefit period is forfeited (generally March 15 of the following year for a health FSA but may vary). This can encourage employees with positive FSA balances near the the end of the benefit period to schedule medical visits and bunch together expenses.

Instead of rushing to see the doctor at the end of the benefit period, consider making an appointment in the late summer or early fall. A medical checkup now will also allow you to better understand what health expenses you might face in the coming year and better plan for what amount you should have deducted for your FSA in the coming year.

Withholding and Life Events

If you find yourself always facing a balance due or always getting a refund when you file your taxes, you might want to change your withholding. If you didn’t make the changes immediately after you filed your return, take the time to make the changes now.

If you had a life event in the first half of the year, (birth, death, marriage, etc.) take some time in the second half to adjust your withholding so that you either do not have a large tax bill or a large tax refund. The IRS has an online calculator to help determine what your W-4 should show. If you’ve had a complicated January-June, you might want to meet with someone knowledgeable about taxes before making withholding changes.

To change your withholding allowances, submit a W-4 to your employer.

For more information about financial education visit our main page at Extension.org or our Facebook page. You can also visit USDA.gov to learn more about Extension and find the Extension service in your state.

To learn about other free resources to help you no matter what your financial situation visit our page.

If you’re feeling uncertain about your finances, the Consumer Action Handbook is the place to find answers to your questions about credit cards, bank accounts and managing debt. Learn to create a smart money management plan, get a handle on your finances, and successfully file a complaint with a company.

You can order FREE copies of the Consumer Action Handbook and its Spanish-language counterpart, the Guia del Consumidor, or you can read the handbook online as a PDF.

By Phyllis C. Borzi, Assistant Secretary, Department of Labor’s Employee Benefits Security Administration

Business closings, downsizings and reductions in hours may lead you to wonder what happens to your retirement benefits if you lose your job? Saving for retirement through an employer’s plan is an important part of your future financial security. The good news is you have protections under Federal law.

The Right To Receive Information

The Employee Retirement Income Security Act of 1974 (ERISA) provides rules for those responsible for the management and oversight of your retirement plan. It also provides you with some rights and protections, including the right to receive information about your retirement plan.

When you leave your job, make sure you have a copy of your plan’s current summary plan description (SPD) and your individual benefit statement. If you don’t, request a copy.

The SPD tells you if and when you can collect your benefits or how to roll over your 401(k) account to a new employer’s plan or to an Individual Retirement Account (IRA). Your individual benefit statement lets you monitor your account balance or benefit.

What If Your Former Employer Goes Out of Business?

If your retirement savings remain in your former employer’s plan, your retirement funds generally should not be at risk even if a business closes. Employers must comply with Federal laws when establishing and running retirement plans, and the consequences of not prudently managing plan assets are serious.

Keep current on any changes the company makes, including changes of address, employer name, or mergers and give the plan any changes to your contact information.

If your benefits are in a traditional pension plan and your plan ends without enough money to pay the promised benefits, the Pension Benefit Guaranty Corporation will pay benefits up to a maximum guaranteed amount set by law.

Accessing Your Retirement Money

If you want to access your retirement money, review your SPD and individual benefit statement. Generally, if you are in a 401(k)–type defined contribution plan, your plan may provide for a lump sum distribution or a rollover of your retirement money to a new employer’s plan or an IRA when you leave the company.

If you are in a defined benefit pension plan, your benefits begin at retirement age and are less likely to be available earlier. Contact your plan administrator if you have questions about accessing your benefits.

Keep in mind unless you rollover your funds into another retirement account you may have to pay income taxes and a penalty for early withdrawal. Also check with your state unemployment office to see if it will impact your ability to receive unemployment compensation. Withdrawing retirement savings early means you will have less money for retirement.

The Department of Labor’s Employee Benefits Security Administration (EBSA) administers ERISA. EBSA has a number of publications about retirement benefit plans and the protections noted above available at www.dol.gov/ebsa. If you have questions about your retirement plan, contact EBSA at www.askebsa.dol.gov or call 1-866-444-3272.

To learn about other free resources to help you no matter what your financial situation, sign up for our e-mail list or visit our page.