If you are struggling to pay bills and make ends meet, you’re not alone. In the current economic downturn, thousands if not millions of Americans are scratching their heads wondering how they are going to make it through the month. But don’t give up just yet, if bills are weighing you down, there are a few things that you can do.
Negotiate the Bill
Negotiate bills? Can you do that? Yes, you can. If you can explain your situation the right way, you may be able to work out a discount or a deferred payment method. Companies that send bills want to be paid. They don’t want to have to go through the hassle of going through collections services. Because of this, they may be willing to give you a little leeway. It may not be much, but it’s something. You might be thinking, there’s no way! But it doesn’t hurt to try. If you’re willing to give it a go, click here for some strategies or bill negotiation services you can try.
Get a Loan
There are two main reasons that you might want to take out a loan for bills. One is that the late fees on your bills might be worse than paying interest on a loan. The second is that a loan might give you a little more time to scrape together some dough. If it can get you to your next payday, you might not even have that much interest due. If time is tight, you can secure a loan quickly with same-day loans. Even those with bad credit can qualify for same-day loans. Same-day loans are often in the form of cash which can be handy if you can’t use your bank account to pay off your debt.
You need to create a budget—a plan for how you are going to spend your money. Taking a look at what you have been spending your money on is the first step towards getting your finances in order. You may find that you are spending a significant portion of your income on something that isn’t necessary. Next, you need to take steps to change your spending to better align with your financial goals. Your expenses should be prioritized. First, come your needs and obligations. These include food, housing, and bills. Then come your wants.
If you can’t pay your bills, don’t give up. A lot of people are in the same situation, and many of them are working it out. Just make sure that you keep a growth mindset. You can get past this. If you have additional debt or budgeting questions, contact a financial advisor.
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