What Do I Do if I Can’t Afford My Bills Right Now?

What Do I Do if I Can't Afford My Bills

One of the most stressful things in the world to deal with in life outside of health challenges, family/relationship issues, or the loss of a loved one is financial stress. Its one of those things that’s easy to hide and you really just want to ignore it and pray to God that you could somehow just wake up the next morning and be living your best life.

Unfortunately, it simply just doesn’t work that way. No matter how well it looks like you’re doing – to your family, friends, and co-workers… the reality of the ever-increasing pressure that you deal with on a daily basis can bring the strongest and coolest of us to tears and sometimes even depression.

The first thing that you absolutely MUST NOT do is to ignore the issue. It’s an extremely slippery slope that will have you sliding deeper into a hole that will only make it that much harder for you to see a way out of. You’ve got to deal with this head on!

Step One: Get Your Mind Right!

  • Know that you’re not the only one to be in this position. Others have dealt with and are going through the same and even worse… and have turned their entire situation around.
  • There is no easy fix… You’ve got to commit to doing the difficult and extreme to not only get yourself out, but to never have to deal with this again.
  • As Dave Ramsey says… You’ve got to live like no one else so you can one day – Live Like No One Else!

Step Two: Find Someone You Trust & Who Cares About You to be Your Accountability Partner

  • They can’t be dealing with the same problem.
  • They can’t be an enabler.
  • You have to give them permission to safely and honestly tell you the truth.
  • They have to care about you enough & Be brave enough to get in your face (if need-be) when you’re slipping.

Step Three: Write Out Your Budget (Income & Expenses) and Post it in Several Places that You Can See it Daily

  • Detail how much you bring home monthly after taxes & benefits but before you start spending.
  • Find a way to add additional income & Cut EVERY unnecessary expense (Eating out, Starbucks, Movies, Netflix, Cable TV etc.) – Have your accountability partner help you on the “What to Cut part”… You already know its tough to decipher whats necessary and what’s not.
  • Call your landlord/mortgage company and every other debtor to let them know that you’re experiencing a financial hardship, you understand that you’re behind, you don’t want to avoid the issue, and you want to establish a payment plan. You’ll be surprised how “most” will be willing to help you since almost everyone else is dipping and dodging them. Some creditors will even reduce or eliminate some of the debt or extra charges.
  • Share your final revised budget with your accountability partner & let them know they can say or do what they want if you don’t abide by this budget.
  • Put a digital copy in Evernote on your phone, a written copy on your fridge and one on your bathroom mirror and give it that “Imma Get You” conquering side-eye look ever time you get a chance. – Not exactly sure where that came from, but you you know what I’m saying!

Step Four: Establish a Routine that you not only follow now, but what you’ll continue to do even after you’re living that stress-free baller life – Yes, I know that was beyond corny… but just follow me for a sec!

  • This sounds like common sense, but under no circumstances can your expenses EVER exceed your income. If you ever come close to approaching this situation, you have to (at all cost) do whatever you need to do to cut the expenses.
  • You’ve got to Pay Yourself before Your Creditors! Before you pay one single bill, you have to put at least 10% in a Emergency Savings Account.  Pro-Tip: Have the Savings taken right out of your check and direct deposited into a separate account at another bank that you don’t have a debit card to or easy access to.

Step Five: Last, but not Least… Consistency is Key!

  • You didn’t get into the situation over night and you won’t get out of it over night. But I can guarantee you that if you follow the aforementioned tips… given enough time, you’ll not only be out of debt, have an emergency fund, and be stress-free (financially at least)… You’ll be Bout that Life – I hope I’m using that right! 


Leave a Comment

Your email address will not be published. Required fields are marked *

Today's Guide to Simple DIY Credit Repair - 5 Simple Strategies You Can Use to Improve Your Credit Scores Now!

Where should we send your copy?

Today's Guide to Simple DIY Credit Repair - 5 Simple Strategies You Can Use to Improve Your Credit Scores Now!

Simply complete the form below to get your FREE Copy via email today...

Connect With Us On Social Media