How to Handle Surprise Bills
Most people experience a surprise bill now and again, but if you aren’t prepared for it, it can be daunting. What if you can’t pay? Will your monthly budget cover it? Whatever bills have headed your way, it’s best to keep a straight mind and face them head-on. If you have been surprised by a payment and you’re unsure of what to do, here are some ways you can handle it.
Write Everything Down
Writing all your outgoings down for the month will help you feel more in control of your finances. This includes any utility bills, grocery shopping, and mortgage payments on top of your surprise bills. You will then be able to see if you are realistically able to pay straight away or if you must call them and ask for a delay in payment.
Talk to Them
The best way to manage a surprise bill is to be open with the people issuing it. You might find that they are more than open to negotiating and you can find a way to pay them back that won’t mean you’re going without. By paying in installments, you get a handle over the bill by knowing you will eventually pay it off while not messing with your monthly budget. The worst thing you can do is ignore the bill, so as soon as it is presented to you and you know you cannot pay straight away, give them a call.
Get a Loan
If the bill is a one-time expense that has come out of nowhere and demands instant payment, then you could get a short-term loan. This method is only for those who know that their finances will be back to normal quickly enough so they can pay the loan back later. There are plenty of loan options out there – have a look at how to conduct a car title loans in Ormond Beach, FL.
Cut Back on Costs
If your outgoings seem expensive, then find ways to cut back on costs for a while. This could mean eating at home more often, canceling a subscription or two, and avoiding going out as much. While it’s not ideal, it will help you pay quicker, and you’ll be able to get back to normal soon enough.
Let Yourself Relax
Debt contributes to heightened stress, but you mustn’t let it get you down. After doing everything you can to deal with it, worrying won’t help. Engage in some self-care and allow it to store in the back of your mind once you’ve done all you can for the time being. While a bill does need addressing, that doesn’t mean it should take over your life.
Plan for the Future
Planning for the future won’t necessarily help your current surprise bill, but it will help you out at a later date. Start saving a percentage of your monthly salary for a rainy-day fund in case you are hit with something similar again. You don’t have to put away a large sum if you cannot afford it; even if you can only put away five percent, eventually it will add up and will greatly help the next time a scary bill comes your way.