How to Buy Time When You Can’t Pay Your Bills

How to Buy Time When You Can’t Pay Your BillsIt has been reported that a majority of Americans are just one payment away from being unable to pay their bills. This could happen if a person misses several work days due to illness. A sizable emergency might also zap the budget. Most of us fail to adequate savings in the event of losing a job. Thus, it is fairly common to miss occasional monthly payments, which can ding your credit rating and result in late fees.

However, there are ways to avoid financial consequences if you are unable to pay one or more monthly bills.

Stay in Touch

Don’t avoid your creditors if you can’t meet the payment due-date. Instead, contact them to explain your circumstances. Most will enter a note on your credit record with the company for future reference, and they can be surprisingly understanding. If you usually make payments on time and have a good credit history, chances are that you will be given a grace period during which you can send late payments without penalty.

Make Partial Payments

Offer a partial payment if you cannot afford to pay the entire amount. Call the creditor to suggest this option, again explaining why you are unable to make the full payment at this time. Indicating a possible date when regular payments will be resumed can be an incentive for creditors to accept a partial payment.

Reset your Payment Schedule

If some of your monthly bills arrive when you are between paychecks, it can be hard to budget ahead to save enough money for those payments. Ask the creditor if you can change the payment due date to a day that is closer to your payday. Chances are it will be no problem, and you will have a better chance of making payments on time.

Earn Extra Income

Sometimes we find ourselves living beyond our means. Before we know it, we’ve racked up considerable credit card debt and are at risk for defaulting on regular bills, like a car payment or home loan. This not only puts us behind on the payment schedule, but it also risks our credit rating and may lead to late fees or penalties, such as an elevated interest rate. If the problem is temporary or can be brought under control, it may help to get a second job or earn part-time income to pay down or eliminate outstanding balances to leave only regular monthly expenses in the budget. Neighborhood lawn care and home-based customer service work are two options. A law school graduate delivered newspapers to meet his student loan obligation.

Don’t despair if you cannot pay one or more bills on time. Follow steps like those above to get your finances under control again.

Get a $150 Referral Bonus When You Become an Uber Driver

If you’re considering becoming an Uber driver, NOW is the time!

The referral bonus for new Uber drivers has traditionally be lower, at $50 in most cities, but Uber has increased the new driver referral bonus to $150 in many cities! The bonuses vary by city, so it may be more or less in certain cities. Become an Uber Driver

It’s very easy to get started, and there are only a few steps you need to take to get paid your bonus:

  • Sign up here
  • Upload all required documents to their partner dashboard
  • Get vehicle inspected
  • Complete 20 trips (this number varies by city, but should take about 3 hours of Uber driving)

When I signed up, I got paid a $50 Uber referral driver bonus after just the first Saturday night of driving for Uber. It couldn’t be easier to earn the bonus, so sign up now!

The whole process is pretty quick, and if you have any questions about the approval process, leave them below. I’m happy to answer them for you!

So what are you waiting for? Sign up to become an Uber driver here and get your $150 bonus now!

Uber Sign Up Bonus

4 Ideas for Your Financial Bucket List

4 Ideas for Your Financial Bucket ListNo matter your age, it’s never too early or too late to plan a financial bucket list. This doesn’t mean you have to die to realize these monetary dreams. You just have to start thinking about the most meaningful financial goals you would like to reach during your lifetime.

While these vary widely from one person to the next (do you really want to sell lemonade on the beach in Tahiti?), early planning is the key to successfully check off your bucket list successes. Many are easier to reach than you think. Here are a few suggestions that could brighten your future!

Pay Off Your Home

For most people, their monthly mortgage payment is the largest expense in the budget. It’s also usually the longest-term bill they will be paying for years to come, perhaps most of their adult life and working years. Imagine your budget without a house payment – sound too good to be true? Actually, you can knock off several years from your mortgage loan and enjoy the freedom of a reduced monthly budget in a few easy steps.

If you are married and both spouses earn incomes, live on one income and pay the other on the mortgage loan each month. Remember to pay extra (beyond what is mandatory for principal, escrow for taxes, and property insurance) on the principal balance, which will pay off the loan sooner and lower interest fees. If that is not possible, start paying all non-regular job income on the monthly payment, including tax returns, job bonuses, windfalls (like an inheritance or settlement), and second job earnings or sold household items. Even if you make just two extra house payments a year, that can remove five to seven years from a 30-year mortgage. Pay mortgage payments on time to avoid late fees and penalties. For motivation, imagine yourself writing that final payment and then removing that item from your monthly list of expenses…

Retire Early

Early retirement is becoming increasingly accessible for many Americans who invest in 401(k) plans, IRAs, and stock portfolios, among other options. By starting young, possibly even in your twenties or thirties, investment earnings can compound to earn more each year, bringing retirement ever closer. Consult a financial planner about prudent options that could help you leave a full-time job years ahead of your colleagues.

Take a World Tour

Okay, so you might not want to visit every country in the world, but plan a dream vacation to somewhere you’ve always wanted to see, whether a deserted beach or a teeming metropolis. Some eager travelers save spare change in a huge piggy bank to watch it grow. A creative couple put $20 away each time they refrained from going out to dinner. Within a few years’ time, they were jetting off to their longed-for destination. Sponsor an annual yard sale, sell vintage keepsakes from the attic, or start a dog-walking service to save money for your exciting trip.

Make a Mega-Donation to Your Favorite Charity

If you want to leave a lasting legacy to a cause you believe in, you could make small donations regularly now that will add up over time. Eventually you’ll be recognized as a long-term, faithful supporter in their hall of fame (whatever form that might take), the organization’s newsletter, or at the annual banquet. On a larger scale, if you donate a hefty sum, you might merit a plaque or more tangible form of recognition for your generosity in a public way.

The common denominator in all these dreams is that you can start today to make them come true. Earning or saving a few dollars here and there can lead you on the path to one or all of your bucket list goals!

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