Immigration-Related Expenses

Starting a life in the U.S. is expensive. Visa application fees alone can total thousands of dollars. Based on the 2025 fee schedule from U.S. Citizenship and Immigration Services (USCIS), common application costs include:

• I-130, Petition for Alien Relative: $675 (paper) or $625 (online)
• I-485, Green Card Application: $1,440 base fee plus $85 for biometrics
• I-765, Work Permit Application: $520 (paper) or $470 (online)
• I-131, Travel Document Application: $630
• Immigrant Visa Processing Fee: $345
• USCIS Immigrant Fee: $235

On top of these fees, many people also pay legal costs. According to CitizenPath, common legal fees include:

• Green Card Petition: $1,000 to $3,500
• Adjustment of Status: $2,000 to $5,000
• Citizenship Application: $500 to $2,500
• Green Card Renewal: $300 to $700
• Asylum Application: $1,000 to $7,000

Travel costs can add even more pressure. Paying for international flights, shipping personal belongings, and putting down deposits for housing can quickly drain finances.

Limited Access to Traditional Banking and Credit

New arrivals to the U.S. may struggle to build credit or access safe, affordable financial services. According to a 2022 UnidosUS survey:

• 1 in 5 Latino adults in the U.S. has no credit history
• Just 56% have a credit card, compared to 84% of the general U.S. population
• 15% of Latino households are unbanked, nearly three times the national average of 5.4%

Language barriers add to the problem. The Consumer Financial Protection Bureau reports that Spanish-only speaking households are five times less likely to use a bank or credit union than English-speaking households. Some non-native English speakers also rely on friends—or even children—to help read financial documents or manage accounts. This can lead to errors and loss of privacy.

Without access to mainstream banks, some turn to expensive alternatives. In a 2021 National Financial Capability Study conducted by FINRA, 37% of Hispanic adults said they had used high-cost services like payday loans, pawn shops, or auto title loans.

Employment Challenges

Many immigrants work long hours but still struggle to earn enough to stay ahead of debt. While some hold middle- or high-wage jobs, immigrants are also more likely than U.S.-born workers to be in low-paying roles. According to a 2023 report from the Immigration Research Initiative, 35% of immigrants earn less than $35,000 a year, compared to 26% of U.S.-born workers.

Low-wage jobs often come with few benefits and little security. In these roles, 58% of immigrants work in service or production jobs like cleaning, food preparation, meat processing, or sewing.

Lack of Insurance Coverage

According to a 2022 fact sheet from KFF, 39% of undocumented immigrants and 16% of lawfully present immigrants had no health insurance, compared to just 8% of U.S. citizens. Without insurance, even a single hospital visit or medical bill can lead to serious debt.

One reason for this gap is the waiting period. In most states, lawfully present immigrants (with some exceptions) must wait five years before becoming eligible for Medicaid or CHIP, which can leave families uninsured for years.

This lack of coverage leads to more unpaid medical bills. In ZIP codes where more than 15% of residents are noncitizens, 19% of adults had medical debt in collections. That’s almost double the rate in other areas, according to a 2023 report from the Urban Institute.

Financial Responsibilities for Family Still Abroad

For many immigrants, helping loved ones back home is a top priority—even when money is tight. These financial commitments can stretch already limited budgets and lead to more debt.

In 2023, people in the U.S. sent $155.9 billion to Latin America and the Caribbean, according to the Inter-American Development Bank.

Here’s how that money was distributed by region in 2023:

• Mexico: $64.2 billion
• Central America: $44 billion
• South America: $29.5 billion
• Caribbean: $18.2 billion

Sending money regularly—while also managing bills, rent, and debt in the U.S.—can make it hard to stay financially stable.

Office of Refugee Resettlement (ORR)

The Office of Refugee Resettlement is a federal program that supports refugees, asylees, and certain other immigrant groups. ORR helps people adjust to life in the U.S. by offering:

• Cash assistance
• Housing support
• Employment training and job placement
• Health services

These services are often provided through local nonprofits or community partners.

State-Funded Assistance Programs

Some states offer public benefits to immigrants who don’t qualify for federal aid. These programs can include:

• Food assistance
• State-level health coverage
• Emergency cash support for things like rent or utilities

The rules vary by state and by immigration status.

Mission Asset Fund (MAF)

Mission Asset Fund is a nonprofit that helps low-income and immigrant communities build credit and access fair financial tools. MAF offers:

• Zero-interest loans for things like DACA renewals, immigration applications, or emergencies
• Lending circles (tandas) that help people save
• Free financial education resources in English and Spanish

Catholic Charities

Catholic Charities has locations across the country and offers support to people of all faiths. Many offices provide:

• Food and housing assistance
• Job training and employment services
• Immigration legal aid
• Help enrolling in public benefits

Services may vary by location, but many sites have bilingual staff.

MAJORITY

MAJORITY is a mobile banking service that allows immigrants to open an account without an SSN. You can use a government-issued ID from your home country, such as a passport or matrícula consular. The platform offers:

• Checking accounts with no hidden fees
• A free Visa® debit card
• Fee-free money transfers
• Discounted international calls
• Financial advising in over 10 languages

MAJORITY partners with Axiom Bank, N.A., and deposits are FDIC-insured up to $250,000.

Zenus Bank

Zenus Bank offers U.S. bank accounts to non-residents and non-citizens. You can open an account remotely from over 180 countries without needing a U.S. address or SSN. Features include:

• Personal and business accounts
• Virtual and physical debit cards
• Support for transactions in over 40 currencies
• A full-reserve banking model focusing on security and transparency

To open an account, you’ll need to provide a passport, proof of address, and complete identity verification steps.

Chime

Chime is an online banking platform that accepts applications from individuals with an Individual Taxpayer Identification Number (ITIN). Chime offers:

• Fee-free checking and savings accounts
• Early access to paychecks with direct deposit
• A secured credit card
• A user-friendly mobile app

Note that while Chime accepts ITINs, it does not accept applications without either an SSN or ITIN.

Comun

Comun is a bilingual digital banking platform tailored to recent immigrants, particularly those from Latin America. The app offers:

• No-fee checking accounts with no minimum balance requirements
• A Visa® debit card
• Remittance services to 17 Latin American countries
• Customer support in Spanish and English

Comun’s mission is to provide accessible and easy-to-understand banking options for immigrants in the U.S.

Consumer Financial Protection Bureau (CFPB)

The CFPB is a U.S. government agency that provides free, trustworthy financial education materials. Their resources cover topics like budgeting, credit, debt, and banking. Many of these materials are available in multiple languages, including Spanish, Chinese, Vietnamese, Tagalog, Korean, Haitian Creole, Arabic, and Russian.

You can also call their toll-free number, 1-855-411-2372, to get assistance in over 180 languages.

University of New Mexico: Financial Literacy for Immigrants & Refugees

The University of New Mexico offers a free handbook titled Financial Literacy for Immigrants & Refugees. This guide provides clear explanations of U.S. financial systems, including how to open a bank account, create a budget, file taxes, and understand credit.

Accion Opportunity Fund

Accion Opportunity Fund is a nonprofit organization that supports small business owners, especially those from underserved communities. They offer financial literacy programs that include workshops and personalized coaching. These programs help individuals understand budgeting, credit, and business finance.

Creating a Budget

A good budget can help you cover everyday expenses, send money home, and build savings without falling into debt.

Here’s how to start:

1. Estimate Monthly Income

This includes:

• Pay from jobs
• Tips, side work, or gig income
• Support from family or benefits, if any

Income is usually calculated after taxes—what actually goes into a bank account or gets paid in cash.

2. List Regular Expenses

Some of the most common monthly costs include:

• Rent or mortgage
• Utilities like electricity, gas, and water
• Transportation (bus fare, gas, car insurance)
• Groceries
• Phone and internet
• Debt payments
• Childcare
• Healthcare
• Remittances

Tracking spending for a few weeks—by saving receipts, checking bank activity, or writing things down—can help identify where money is going.

3. Use a Budget Template

For people who prefer spreadsheets or printable forms, budget templates can be an easy way to organize income and expenses.

Here are a few free templates available online:

• Consumer.gov Budget Worksheet
• Money Under 30 Monthly Budget Template
• FinMasters Monthly Budget Spreadsheet

4. Review the Budget Regularly

Budgeting is not a one-time task. Some people look at their spending every week, while others do a monthly check-in to see if they’re spending more than expected or need to make changes. Even a rough monthly outline can help show patterns over time.

Managing Finances While Sending Money Abroad

Sending money to loved ones is important—but it’s also important to make sure it doesn’t leave you behind on rent or bills.

Here are a few ways to manage both:

• Set a monthly limit for how much you can safely send
• Plan for it in your budget, just like rent or groceries
• Compare money transfer services to find the lowest fees and best exchange rates

Remember, you can’t help others if you’re financially unstable yourself. It’s okay to reduce remittances when needed so you can catch up or avoid debt.

Saving Strategies

Even small savings can make a big difference over time. Here are some common approaches people use to build savings gradually:

• Start small—just $5–$10 per week will add up over time
• Use automatic transfers to move money into savings right after payday
• Keep savings separate from your checking account to avoid spending it
• Build an emergency fund for unexpected costs like car repairs or medical bills

Some immigrant-focused banks offer free savings accounts with no minimum balance or monthly fees. These may be easier to access than traditional banks, especially for people without a Social Security number.

How to Increase Earning Potential

There are ways to build skills and open up new opportunities. Some common options include:

• English language programs: Organizations like the Immigrant Learning Center offers free English classes to immigrants and refugees.
• Online courses and certifications: Platforms like Coursera offer online courses and certifications in various fields, including business, technology, and healthcare.
• Credential evaluation services: If you have a degree or professional experience from another country, services like World Education Services (WES) can evaluate your credentials to help U.S. employers understand your qualifications.

These steps take time and effort—but for many people, they’ve led to better-paying jobs or new career paths.

CareerOneStop

CareerOneStop is a government website that brings together job listings, training resources, and tools to help people explore careers. It’s free to use and open to everyone.

Key features include:

• A national Job Finder that lets you search by job title, location, or industry
• Guides for writing resumes and cover letters
• Tips to prepare for interviews
• Information about short-term training or certification programs
• Career assessments to help match your skills with potential jobs

The site is also available in Spanish and includes tools for people who are just getting started in the U.S. job market.

American Job Centers

American Job Centers offer free, in-person help to job seekers at nearly 2,400 locations across the U.S. These centers are run by local or state agencies.

Services may include:

• One-on-one help with job searches
• Resume and interview support
• Job fairs and employer connections
• Access to computers, printers, and internet
• Referrals to GED classes, training programs, or apprenticeships

You can use the Job Center Finder to locate a center near you.

My Next Move

My Next Move is an interactive tool that helps people explore careers based on their interests and goals. It can be especially helpful for people switching careers, returning to work, or looking for a job that matches their skills.

Key features include:

• A career quiz (O*NET Interest Profiler) to help identify fields that might be a good fit
• Information on job duties, required education or certifications, and average salaries
• Career suggestions for people with limited experience, training, or U.S. work history

It’s free to use and available in English and Spanish.

Upwardly Global

Upwardly Global is a nonprofit organization that helps work-authorized immigrants, refugees, and asylees restart their professional careers in the U.S. It’s designed for people who had professional experience or higher education before moving to the U.S. but are having trouble finding work in their field.

Services include:

• Career coaching
• Online training
• Employer connections
• Credential guidance

To qualify, individuals must be work-authorized in the U.S. (with a green card, refugee or asylee status, or other eligible status) and meet certain education or experience requirements.

SCORE (Service Corps of Retired Executives)

SCORE is a national nonprofit that offers free, confidential mentoring for small business owners. Their network includes thousands of volunteers—many of them retired business executives or entrepreneurs—who provide one-on-one support by phone, online, or in person. SCORE also offers free business templates, how-to guides, and regular workshops and webinars on topics like funding, marketing, and business planning.

Small Business Development Centers (SBDCs)

Small Business Development Centers offer free, personalized business advice and low-cost training to entrepreneurs in every state. Many centers are based at colleges or local development agencies. They can help with tasks like:

• Writing a business plan
• Applying for small business loans
• Building marketing strategies

Women’s Business Centers (WBCs)

Women’s Business Centers provide training and mentoring to women entrepreneurs, with many also offering services in multiple languages. The centers are part of a national network funded by the U.S. Small Business Administration.

MicroMentor

MicroMentor is a free platform that matches small business owners with volunteer mentors around the world. After setting up a profile, entrepreneurs can connect with mentors to ask questions and get advice on business strategy, marketing, finance, and more. The platform is available in both English and Spanish.

Chase for Business Mentorship Program

Chase for Business: Coaching for Impact is a free mentorship program that pairs small business owners with professional coaches. The program focuses on entrepreneurs from underserved communities and offers guidance on things like:

• Managing finances
• Growing operations
• Setting business goals

Here are some key protections:

• The right to be paid fairly: Workers are generally entitled to at least the federal minimum wage and overtime pay for hours worked beyond 40 in a week.
• The right to a safe workplace: Employers must provide a safe environment and follow health and safety rules.
• Protection from discrimination: It is illegal for employers to discriminate based on race, color, national origin, religion, sex, or disability.
• Protection from retaliation: Employers are not allowed to fire or punish you for reporting unsafe conditions, wage issues, or discrimination.

Several national organizations and government agencies offer information and help:

• The U.S. Department of Labor Wage and Hour Division enforces labor laws around wages, overtime, and workplace conditions.
• OSHA (Occupational Safety and Health Administration) protects workers from unsafe or unhealthy work environments.
• National Employment Law Project (NELP) offers resources for low-wage and immigrant workers, including information on legal rights and workplace protections.

You do not need to be a U.S. citizen to ask questions or report a problem. Interpreters are often available, and many organizations offer help in multiple languages.

Common Scams

Here are some of the most common scams reported by immigrants:

• Fake immigration lawyers: Some people pretend to be lawyers or “notarios” who promise quick visas, green cards, or work permits—for a fee. They often take your money and disappear without helping.
• Job scams: Scammers may offer a job that sounds too good to be true and then ask for an “application fee,” personal information, or payment for training that doesn’t exist.
• Fraudulent lenders: Some companies or individuals offer quick loans with extremely high interest rates or hidden fees. Others may require payment up front and never deliver the loan at all.
• Government impersonators: Scammers may call or email pretending to be from USCIS, the IRS, or the police. They often demand immediate payment or threaten deportation.
• Social Security or identity theft scams: Be cautious of people who ask for your Social Security number, bank details, or other personal information. This data can be used to open credit cards or loans in your name.

How to Identify and Report Financial Fraud

Here are some ways to recognize and report scams:

• Be cautious of pressure or threats: Real agencies and businesses will not demand immediate payment or threaten you over the phone.
• Never pay in gift cards, wire transfers, or cryptocurrency: These payment methods are often used by scammers and are hard to trace.
• Check credentials: If someone says they’re an immigration lawyer, make sure they are licensed. You can search through your state bar association or visit https://www.uscis.gov/avoid-scams to learn more.
• Use trusted job and loan sites: Government websites like CareerOneStop and nonprofit lenders like Mission Asset Fund are safer places to start your search.

If you think you’ve been scammed, here’s where you can report it:

• The Federal Trade Commission (FTC) accepts reports about scams and fraud in both English and Spanish.
• The Consumer Financial Protection Bureau (CFPB) handles complaints about financial products and services, including loans, credit cards, and bank accounts.
• S. Citizenship and Immigration Services (USCIS) has a tip line for reporting immigration-related scams.

Debt Settlement

Debt settlement is when a company works with your creditors to lower the total amount you owe. Instead of paying the full balance, you pay a smaller lump sum or set up monthly payments on the reduced amount.

• This is usually for unsecured debt like credit cards or personal loans.
• It may affect your credit score.
• Some companies charge fees, and results aren’t guaranteed.

People who choose this option often work with a debt settlement company. Be sure to research any company before enrolling, and avoid those that promise guaranteed results or ask for large fees upfront.

Credit Counseling

Credit counseling agencies are nonprofits that help people understand their finances and create a plan to pay down debt.

• Services may include budgeting help, credit report reviews, and debt management plans (DMPs).
• A DMP lets you make one monthly payment to the agency, which then pays your creditors.
• Some agencies charge small setup or monthly fees.

Look for agencies approved by the National Foundation for Credit Counseling (NFCC) or listed on the U.S. Department of Justice’s website.

Debt Consolidation

Debt consolidation means combining multiple debts into one. This can make payments easier to manage and may lower the interest rate.

• This is often done through a personal loan or balance transfer credit card.
• You still have to repay the full amount, just in a new form.
• Qualification depends on your credit history and income.

Some banks and online lenders accept Individual Taxpayer Identification Numbers (ITINs) instead of Social Security Numbers, which may make this option accessible to more immigrants.

Bankruptcy

Bankruptcy is a legal process that may reduce or erase certain debts when someone is unable to repay them.

• It can stop collections, wage garnishments, and lawsuits.
• It stays on your credit report for several years.
• It may affect your ability to get credit or loans in the future.

Eligibility and consequences vary by immigration status. If you’re considering bankruptcy, it’s best to speak with an attorney who understands both immigration and bankruptcy law.