20 Government Programs That Can Save You Money

Often by means of financial aid, tax credits, or other forms of relief, government programs are meant to assist individuals, families, and businesses in diverse ways. From healthcare and education to mortgage and energy bills, these initiatives can help cut expenses on everything. This article lists 20 government initiatives meant to maximize resources and save money.

Tricia Quitales
February 10, 2025
5 min read

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Many people ignore the great resources that government initiatives offer. From tax benefits to financial aid, these initiatives can greatly cut your expenses and enable you to retain more of your money. These initiatives meant to save you money on regular expenses including utilities, housing, education, and healthcare are covered in this article.

1. Earned Income Tax Credit (EITC)

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The Earned Income Tax Credit offers a tax benefit to families and low to moderate income working individuals. This program can either help reduce your tax due amount or provide a refund. Should you be qualified, you can have thousands of dollar savings.

2. Supplemental Nutrition Assistance Program (SNAP)

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Supplemental Nutrition Assistance Program (SNAP)

3. Medicaid

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Medicaid is a low-income person’s and family’s free or low-cost healthcare program. From doctor appointments to hospital stays, it addresses a broad spectrum of medical services. Should you be eligible, Medicaid can assist you to avoid hefty medical expenses.

4. Low-Income Energy Assistance Program (LIHEAP)

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LIHEAP helps low-income households pay their energy bills especially during years of severe weather. Through assistance with heating and cooling expenses, the program helps families control their energy consumption. Applying will enable you to minimize your power consumption and prevent energy crisis.

5. Child Tax Credit

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Families having dependent children under 17 gain financially from the Child Tax Credit. Claiming this credit while paying taxes could help to generate a bigger return. The initiative lessens the financial load of parenting.

6. Public Housing Assistance

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Low-income families can locate reasonably priced housing, thanks in part to public housing aid. Renters can get subsidies to lower their expenses by means of initiatives. For people in need, this initiative makes housing more reasonably priced and accessible.

7. Student Loan Forgiveness Programs

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For those working in eligible professions including education, public service, or charitable organizations, the U.S. government provides many student loan forgiveness programs. After a specified period of time of service, these programs could either lower or completely pay off your remaining student loan. They are meant to lighten the weight of student debt.

8. Veterans Benefits

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Among the various government programs, veterans are qualified for home loans, healthcare, and educational benefits. These programs try to help veterans and their families cut costs on required services. Taking use of these benefits enables veterans to improve their financial situation.

9. Affordable Care Act (ACA) Subsidies

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To enable low and moderate-income families and people buy health insurance, the ACA offers subsidies. These subsidies help lower out-of-pocket costs and monthly premiums. Joining an ACA plan could help you qualify for healthcare cost savings.

10. Free Tax Filing Assistance

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For qualified taxpayers, the IRS provides free tax filing help via initiatives such Volunteer Income Tax Assistance (VITA). Families and low-income people who require assistance filing their taxes especially stand to gain from this initiative. Using this service can help you save on tax preparation expenses.

11. Homebuyer Assistance Programs

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The government provides tax rebates, down payment assistance, and cheaper loan rates among other initiatives meant to aid first-time homeowners in saving money. For qualified consumers, programs including VA loans and FHA loans provide particular advantages. These tools affordably and easily enable homeownership.

12. Energy Star Rebates

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Buying energy-efficient appliances and doing home improvements makes you qualified for rebates and incentives available via the Energy Star program. These subsidies can help reduce the initial outlay for switching to energy-efficient solutions. Over time, these adjustments will help you cut long-term energy costs.

13. Temporary Assistance for Needy Families (TANF)

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TANF offers low-income households with children financial aid. The program aids with basic requirements including food, clothes, and housing. During bad times financially, TANF can be quite helpful.

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Social Security gives surviving family members, handicapped people, and retirees income. For people who have made system contributions during their working years, the program helps guarantee financial stability. Should you be qualified, Social Security can augment your income either during disability or in retirement.

15. WIC (Women, Infants, and Children) Program

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Pregnant women, recent mothers, and small children can all benefit from the WIC program’s nutritional support. It conducts nutrition education and provides food vouchers for wholesome meals. This initiative guarantees moms’ and children’s health and helps households cut grocery expenses.

16. Tax-Free Savings Accounts (Health Savings Accounts)

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Health Savings Accounts (HSAs) let people tax-free save money for medical bills. Contributions are tax-deductible; withdrawals for qualified expenses also are tax-free. Particularly, if you have a high-deductible health plan, this can help you cut healthcare expenses.

17. Foster Care Subsidies

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Subsidies meant to help foster parents pay for the expenses of looking after children enrolled in the foster care system could be qualified for. These subsidies support foster families financially and help to guarantee that foster children have access to the services they require. Through this program, you will be helping the youngster with everyday needs.

18. Small Business Administration (SBA) Grants and Loans

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To assist with startup expenses and growth, the SBA grants and loans to small companies and entrepreneurs. The loan usually has lower interest rates and more advantageous terms than conventional loans. These financial resources have these initiatives to let small companies expand their operations free from heavy financial load.

19. Unemployment Benefits

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Benefits from unemployment help those who lose their jobs by means of temporary financial aid devoid of personal responsibility. This program can help close the employment gap and offer financial consistency under trying circumstances. Applying for unemployment will help you find new job while simultaneously getting financial help.

20. Commuter Benefits Programs

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Commuter benefits let workers pay for ride-sharing services, parking, or public transit using pre-tax cash. Participating in these programs helps you lower your taxable income and cut travel expenses. These advantages help make daily travel to work more reasonably priced.