We’ve all been there; an unexpected bill appears out of the blue, and you don’t have the money to pay for it. You’re completely broke. Panic usually ensues at this point. However, there are ways to avoid this panic and guarantee that the bill is paid. It’s not the end of the world, though it may feel like it at the time.
According to Markets Insider,one-fifth of Americans have zero savings. If you’re one of these people, how can you tackle that unexpected bill? What are you going to do? Read on for some helpful hints and tips.
Cancel other Bills
You’re essentially cutting back here. Make a budget plan and order your bills according to their importance. Are there any expenses on this list that can be cut out? Maybe you have a TV subscription service or phone package that you can live without? Cancel it, and then you will have extra money each month to pay off any unexpected bills.
Ask Family and Friends
If you’ve got a good relationship with a friend or family member, then why not approach them for help? Asking friends and family can be a simple, interest-free way to get the funds to pay that unexpected bill. But make sure you pay them back once you have the money to do so; there’s nothing worse than souring a close relationship.
Get a Loan
People can be a bit apprehensive about taking out short-term payday loans, but if you desperately need the money and know that you’d be able to pay it back on your next payday, then this could be a good option to explore. A trusted loan broker, like Cash Lady, can help you to find the right lender at no cost. With new protections in place for customers, payday loans are no longer as scary as they used to be. Just make sure you can afford the repayments and you will be fine.
Sell Unwanted Belongings
Many people have items in their homes that they no longer use. So, why not sell them? These days,there are various online platforms that allow you to list your items to a wide audience for free. This is a great way to get easy cash and clear out the clutter. Popular items that usually sell well are electronic devices.
Seek a Part-time Job
Do you have a bit of spare time on the weekends? Or a few hours to spare in the evenings? You can utilize this time by getting a part-time job. There is an abundance of cleaning and bookkeeping jobs out there that are crying out for applicants. It’s an easy way to earn a few extra dollars, and you’d be doing something productive with your time. If you do well in the interview, you could find yourself earning a tidy sum that helps you deal with unexpected bills in the future.
And lastly: Save
Once the unexpected bill has been paid, try and set up an emergency savings fund. Put a little bit of money away each month – the most that you can afford (even $5 is enough!). This way, if it was to happen again, at least you’ll have this to fall back on.