The world moves fast, and if you’re not hot on your heels, then you may just fall prey to it. Such is the case with many people around the country and indeed the world when it comes to Bill payments. Just one financial slip up can cascade into multiple prolonged weeks and months into paying the bills off. Most men choose to go out on a Friday or the weekend, and poor decision-making can result when you subject yourself to peer pressure. One day, you find out that you simply don’t have enough money to run the household, while also paying the bills. The more you wait, the more drastic a situation can get to the point where your items may begin to get repossessed or being thrown out of a rented property. Digging yourself a hole in the ground won’t help, what you need is quick action.

Photo by – Natalie B

Stop digging

First of all, stop digging. If you were going to do something financially which you had planned, such as a weekend away, buying a car, buying a present or new clothes, cross it off your list. The hardest part of realising you’re spiraling into debt is the fact that you need to accept your lifestyle is about to change. You cannot make phone contract payments or car payments while you’re still paying for luxuries. Sit down and write a list of the priorities you have such as the obligations you have to your family and to yourself. Bills and or loan payments should come at the top of that list as all else is determined by your financial situation.

Cash injection options

Most utility companies are willing to negotiate, but only if you can convince them that you’re good for it. Don’t be afraid to tell them your plan and explain how you can get make payments, but with a little added extra time. If your payment scheme cannot be altered, you need to stick to their schedule. You can, however, speak to Sunny. They have a flexible policy that can give you up to £2500 of quick cash access, with no hidden fees and no surprises. You’ll be able to make payments to the utility companies in planned instalments very quickly if you go for this option. On the other hand, you could also look at options to sell items around your home which you don’t need. If you have a television, radio or clothes you don’t want; you can go to pawn shops and sell them for a quick cash injection.

Credit – TeroVesalainen

Cut down

You should be cutting down on everything, especially when you go grocery shopping every week. Drop the name brands and bulk store products in bulk. Don’t buy treats and other additional items you don’t need. It’s wise to go to the almost out of date section in the stores, where they may sell slightly damaged or stock they need to shift for a low price. Perfectly good food is thrown out for no good reason due to company policies, but truthfully, stores will try to make some kind of profit by selling these items cheaply.
Stop whatever it is you’re doing that’s making the situation worse. Sit down and prioritise the most important things that need to be addressed. Devise a plan, and think about short-term options which would stop the avalanche of bills from smothering you. Cut down on everyday costs and live life frugally for the foreseeable future.