How to Pay Bills With No Money
Paycheck to paycheck sometimes doesn't cut it.
So what do you do when the months and the bills do not stop coming but the money does? There are occasions when we can only pay some of the bills but deciding which some can be difficult.
It is embarrassing to say the least that you may not have enough fundage on month to make it all work out but to have to sit down and decide exactly who gets paid can be agonizing, especially if this is the first time you've had to make this decision.
Obviously, one of the first things you need to do is plan your finances to ensure this situation does not arise again.
After that, it is time to sit down and think about what is important.
Start out with a paper and pen and your list of monthly bills.
If you do not have one list that compiles what you owe and who you owe it to, then start there.
Gather all of your statements and due dates and make a list.
You need to understand what you owe each month if you expect to stay on track with your finances.
When you have our monthly bill list, you next will need to make another list of each bill so you can begin to scratch off the necessities in your life.
For example, your mortgage, your rent, your car note, your electric bill, and your water bill are all necessities.
Keep in mind, you will need to leave money to the side for food and work-related costs such as gas to get you there.
When you have all of the necessities accounted for, take a look at what bills are left over.
You will want to scratch off the other bills you owe that will harm your credit if left unpaid such as student loans and credit card payments.
If you do not make those payments, it can essentially affect your other bills and future credit worthiness.
When you have deduced what is needed, you should have a list of the non-essentials.
This may include your cable bill, cell phone bill, and maybe a gym membership.
This is where it takes some shift in thinking.
You may think you can't live without your cell phone or your cable television shows but if you have a landline and a public library, it is likely you will survive.
You may even learn to live without the costly monthly expenses and be able to start an emergency fund or a savings account with a goal.
You can even tack on the extra monies each month to pay down your debts faster.
Face it - if you can cut back on the things you don't need, even if it is only a 6 month sacrifice, you can learn to live in a whole new way and make out better financially in the long run when you are enjoying a debt-free life with a little money in the bank.
So what do you do when the months and the bills do not stop coming but the money does? There are occasions when we can only pay some of the bills but deciding which some can be difficult.
It is embarrassing to say the least that you may not have enough fundage on month to make it all work out but to have to sit down and decide exactly who gets paid can be agonizing, especially if this is the first time you've had to make this decision.
Obviously, one of the first things you need to do is plan your finances to ensure this situation does not arise again.
After that, it is time to sit down and think about what is important.
Start out with a paper and pen and your list of monthly bills.
If you do not have one list that compiles what you owe and who you owe it to, then start there.
Gather all of your statements and due dates and make a list.
You need to understand what you owe each month if you expect to stay on track with your finances.
When you have our monthly bill list, you next will need to make another list of each bill so you can begin to scratch off the necessities in your life.
For example, your mortgage, your rent, your car note, your electric bill, and your water bill are all necessities.
Keep in mind, you will need to leave money to the side for food and work-related costs such as gas to get you there.
When you have all of the necessities accounted for, take a look at what bills are left over.
You will want to scratch off the other bills you owe that will harm your credit if left unpaid such as student loans and credit card payments.
If you do not make those payments, it can essentially affect your other bills and future credit worthiness.
When you have deduced what is needed, you should have a list of the non-essentials.
This may include your cable bill, cell phone bill, and maybe a gym membership.
This is where it takes some shift in thinking.
You may think you can't live without your cell phone or your cable television shows but if you have a landline and a public library, it is likely you will survive.
You may even learn to live without the costly monthly expenses and be able to start an emergency fund or a savings account with a goal.
You can even tack on the extra monies each month to pay down your debts faster.
Face it - if you can cut back on the things you don't need, even if it is only a 6 month sacrifice, you can learn to live in a whole new way and make out better financially in the long run when you are enjoying a debt-free life with a little money in the bank.
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