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Pending Bill and No Money? Here's 4 Ways to Pay It Off Quickly

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Sometimes finances can get a little tight, and when you have a pending bill and seemingly no way to pay it, you may have more options than you think. But when you find yourself struggling to be on time with any bill, you should first contact the billing company to see if you can get an extension or a payment plan. Once you’ve got that part covered, here’s how to pay off a bill quickly.

1. Earn Extra Cash

There are tons of innovative ways to earn some extra dough that are legal, fast and pretty much guaranteed. If you have any special skills or hobbies, you can leverage those and earn some extra money to help pay off that bill. You can make things and sell them on sites like Etsy. You can even have a garage or yard sale. You might be surprised at just how much you can make from the things you have in your home. Another idea is to try to get in some overtime at your job. You don’t have to have a whole lot of extra time on your hands to make a few extra dollars to put towards a bill.

2. Budget Right

Sticking to a realistic budget is an absolute must when you want to stay on top of your finances. When you know what is coming in and what needs to go out, you can plan better. Just remember that creating a budget won’t do you much good if you fail to stay inside of it. Of course, there are unforeseen expenses that come up, but staying within your budget will have you better prepared for those times.

3. Sell Your Life Insurance Policy

If you have a whole or universal life insurance policy, you can usually sell it if you need to. It is a good idea to do a cost-benefit analysis to see if selling your insurance policy is something that will truly benefit you. A life settlement company can help you sell, or you can find a buyer on your own.

4. Eliminate Unnecessary Expenses

It is very helpful to have a firm grasp between wants and needs. Housing is a necessary expense, as is food and transportation. Keeping up with the latest fashions and technologies is a want. If there is nothing wrong with your shoes, there is no need to get new shoes. Commit yourself to cooking meals rather than dining out. Eliminating unnecessary expenses will mean sacrificing a few things, but that doesn’t mean you can’t have any fun. You just have to budget your fun. The more wants you put off, the more money you will have to put towards a bill.

Once you have chosen a method or a few methods for paying a bill off quickly when you don’t have money, you can work on a master plan for tackling your bills and your debt. There is no reason you should have to live the rest of your life paycheck to paycheck. Get real with your finances and make saving a priority.

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