Bills are a monthly nuisance that we must all deal with. Unfortunately, if you find yourself in financially strained scenario, bills can become not just a nuisance but a true problem. Unemployment, underemployment, unexpected expenses like medical bills and car repairs, and other such situations can put in you in a tough spot, leaving you with less money in the bank than bills waiting to be paid. Often times, people will turn to a payday loan for help during such times. In fact, 69% of payday loans are used to cover monthly expenses. Yet, there are times when such loans may be withdrawn prematurely. It is, of course, important to pay your bills in a timely fashion whenever at all possible. However, in extremely dire situations exceptions can be made, and by knowing when you must pay a bill and when you can let a bill go late you can help to reduce you reliance on payday loans.
The first thing to do in deciding whether you can let a bill go late or not is to determine the importance of the service you are paying for. In a true financial emergency, you can go a month or two without cable. This may be an undesirable situation, but by sacrificing more frivolous services like cable, you can help to ensure that important bills like rent and utilities can get paid, keeping a roof over your head and running water in your pipes. Other services that may seem expendable at first, such as internet and phone, may be more important than you realize especially if either of these is used for work purposes. Thus, when you are assessing your monthly services, it is vital that you use your honest opinion concerning which can be done away with and which must stay.
Another expense that you may be able to get rid of with little to no consequence is any membership fees you pay for recreational purposes. If you are a member of any clubs that you use strictly for entertainment, you may want to sacrifice these social outings so that you basic survival needs can be made. This is particularly imperative if you are not only paying bills for yourself, but for dependents such as children or a significant other as well. While socializing is important, groceries and a working vehicle are more so.
While this is in no way meant to advocate skipping out on one's bills, there are certain times when even utility bills can be postponed until you can get back on your feet. By getting a hold of your utility companies and explaining your situation, you may be able to work out a deal with your payment schedule and amount and possibly even qualify for assistance of some sort. This may or may not work depending on your specific situation, but it is worth a shot.
If, after going through all these steps and you still find yourself unable to pay your bills, it may be time to take advantage of a payday loan. However, this should be done with extreme caution, as it is very easy to get yourself in a worse financial state than you were in before utilizing such services. Make sure that you will be able to repay your loan on time and that all the money you borrow will go directly to its intended purposes.
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