Not sure what to do if you can’t you your bills? These steps can help get things back on track!
Most people have actually had a month or several where they have not been able to pay off of their bills. Myself included. Am I proud that my spending habits had gotten so out of control?
No, not at all.
Its embarrassing to have to admit that you have messed up. You can’t pay your bill and you start to panic. You think that people are judging you and all hope is lost. But it is not, there really is a way to clean up your money mess and get back on track. Here are the steps you need to get things back on track.
1. Own Up to Your Mistakes
Shoving the bill under the couch in the hopes that is goes away isn’t going to do anything for you. It’s not going to make the bill magically go away just because you can’t see it. In face ignoring the bill is only going to make things worse.
So admit that you made a mistake. You can’t pay your bills. Face it head on and be ready to do what ever you need to do in order to fix it.
2. Calculate How Much You Are Going To Need To Pay Your Bill(s)
Sit down with a piece of paper or your budget app and figure out how much you can pay on your bill and how much more money you need in order to pay your bill.
3. Look At Your Expenses For The Month
Once you have figure out how much you need to have in order to pay off your bill, look at your monthly expenses. Grocery budget, household budget, cell phone bill, Starbucks Run, at a good look to see if there is anywhere you can trim back on.
Try eating at home to cut back on the cost of eating out. When you are making your meal plan for the week find meals that can be made cheaply but are still filling. Burritos are our favorite option when it come to cheap and filling meals.
4. Call The Company
If there is nothing left in the budget to cut back on and you can’t pay your bills, it’s time to call the company who holds your bill.
First, pay all of your necessary bills, light, water, mortgage, food, etc.
Then start calling the companies and let them know that the payment is going to be late. Explain the situation, honestly, and let them know that you can’t pay your bill this month. Ask if there is anything to be done, waving the late fee, giving a small extension, anything they can do to help.
If the company does agree to help, ask for an email or letter so you have something in writing. That way there is no confusion on what was agreed to.
5. Find A Way To Make More Money
If every month you can’t pay your bills, you might have to look for other ways to bring in income. Think of other side hustles that you can do in order to bring in additional money.
You may also need to find a way to bring in extra cash fast. You can look for things that could be sold, clean out a closet and start selling on eBay or craigslist. Find a survey company, do some babysitting, mow lawns, anything that you can do to bring in that extra money.
6. Find a New Plan
If you want to make sure that you never have to deal with being unable to pay your bills, starting rethinking about how you are handling your money. Start making and USING your budget. And I am talking about a real, working budget that helps you manage your money and gets you out of debt. If you need help on making a budget check out this post.
Following these steps will help you get those unpaid bills dealt with. Remember, it might be frustrating and embarrassing when you can’t pay your bills. But it’s not forever. Do what you have to do get those bills paid up. Then get busy getting them gone forever.