Struggling to Pay Bills?
The postman might be whistling a friendly tune when he’s walking down your driveway, but you won’t be won’t be as cheerful when you notice the batch of bills clutched in his hands.
Your first instinct might be to nail up your letterbox so he can’t gain access. Especially when you are struggling to make ends meet and pay your bills on a regular basis. Sadly, this is the wrong strategy to take.
Here, on the other hand, are some practical strategies that could help you escape your financial woes.
#1: Speak to Your Creditors
Digging your head in the sand isn’t going to help you, so rather than avoid a phone call to your creditors, get in touch with them instead.
Your utility companies might be able to help you by putting you on a cheaper tariff for your gas and electricity, or giving you a Smart meter so you can better keep tabs on how much energy you are using.
Credit card companies might temporarily reduce the interest you are paying, although they will probably ask you to stop using your card until you have made progress with your payments.
In short, it won’t hurt to ask them for help, and if you get nowhere, you could always ask your local Citizens Advice Bureau to get in touch with them, as they know the questions to ask and the tactics to take with billing companies.
#2: Find Ways to Reduce Your Bills
For starters, consider who you’re paying money to each month.
You might be able to save money by switching to another company, so do a price comparison search for gas and electricity companies, and do the same if you’re struggling with your credit card payments. By opting for a cheaper tariff from another utility company or by moving to a credit card with less interest, you will start saving money automatically.
Make further attempts to save by finding ways to lower your household costs, and you might be able to claw your way back from the threat of debt.
#3: Prioritise Your Spending
Your priorities are your household bills, so look at other places where your money goes each month, and if they aren’t necessary, limit spending.
So, you might want to cancel your Netflix account, for example, and you might want to cancel any magazine subscriptions you have.
When you have your finances under control, and you are paying your bills again, you might then return to those nice-to-have things if you know you can accommodate them into your budget.
#4: Find Ways to Make Money
If you aren’t currently working, you might want to consider a move back into employment to give you the income you need to help you pay your bills.
If this is difficult, perhaps because you’re raising kids, then you could do a Google search of jobs you could do from home. If you are working, but you aren’t earning enough money to make ends meet, then it might be time to move into a new role or career.
A promotion or a move into better-paid and potentially more exciting careers could be all it takes to improve your finances considerably.
And you could boost your finances further by looking at ways to make a passive income. Not only will these ideas boost your income, but they will also help you to put more into your savings to help you should you ever get into financial difficulty again.
Finally
You will be able to counter the postman’s cheerful whistling with happy tunes of your own when you are finally able to pay your bills, so use our ideas to get you back on more secure financial footing.
Continue browsing our site too, as we have lots more ideas for both saving and making money.
Which strategies have you tried when there was more month at the end of the money? What expenses have you had to cut out and which side hustles have you tried? We’d love to hear your story in the comments below.
Image Credit: flickr
