Financial Resources in Minnesota

By Kaitlyn Szabo • November 1, 2019

Payday loans are often only a sliver of someone’s financial reality. Regardless of what hardship you may be facing, you are not alone, and someone can help. Before your next emergency occurs, identify where you can go and who you can talk to when you need additional support or guidance.

Before your next emergency occurs, identify where you can go and who you can talk to when you need additional support or guidance.

Where can I look for help?

To begin with, check out what your county has in terms of economic assistance, along with these statewide resources.

• Minnesota Help is a resource directory from the state of Minnesota with information on nonprofit, public health, human service, and housing programs.
• The United Way of Minnesota can connect you to community resources 24/7 by dialing 2-1-1 or calling 651-291-0211 or 1-800-543-7709.
• Bridge to Benefits links low-income families and individuals to eight public work support programs and two tax credits for which they’re eligible. 
• Minnesota Community Action Partnership has 24 agencies serving all 87 counties local solutions for Minnesotans statewide experiencing poverty or financial hardship.

Some of our program participants told us that they took out their first payday loans when they required housing or food assistance. If you find yourself struggling with such essentials, check out the following:

• HousingLink lists emergency housing assistance in the Twin Cities metro area.
• Housing Benefits 101 provides an overview of statewide housing options.
• Hunger Solutions is a tool to find food shelves and farmers’ markets near you.
• Fare For All is a monthly food buying program with 38 locations statewide.

Who can I talk to about my finances?

Here are four financial counseling providers statewide who can help you tackle your finances.

1. LSS Financial Counseling offers free and confidential budget, debt, and credit counseling statewide over-the-phone or in-person at their offices in Brainerd, Duluth, Mankato. Minneapolis, Rochester. St. Louis Park, St. Paul, Willmar, and Virginia. To schedule an appointment, call 888-577-2227.

2. Prepare + Prosper provides free tax preparation, affordable banking products, and financial coaching. 

• FAIR Banking products include checking and savings accounts, and credit builder loans online and through a mobile app. Contact [email protected] or call 651-262-2173 to learn more. 
• Money Mentors is a free financial coaching program that pairs you with a coach and a group of peers to work with once a month for six months. Submit an online application here.

3. FamilyMeans: Financial Solutions offers free budget and debt counseling, as well as fee-based student loan counseling and credit report reviews. They have offices in the Twin Cities metro area and southeastern Minnesota. To learn more or to schedule an appointment, call 651-789-4014 or 1-800-780-2890.

4. The Village Family Service Center provides confidential financial guidance, education, and advice for a fee. They have offices in Alexandria, Detroit Lakes, Fergus Falls, Mahnomen, Moorhead, Perham, Roseau, St. Cloud, and Warroad. Call 1-800-450-4019 or fill out this form to learn more.

Remember: For current participants, if you meet with a counselor, you may be eligible for $50 per session, up to $150. Contact us with questions about our incentives, or if you’d like more resource referrals.

You Got This!

As you navigate any financial setback and become better informed on financial literacy, don’t forget: you are more than your financial situation. People are more than money.

Money Management E-Newsletter: October 2019