There are times in all of our lives when money, or the lack of it, becomes a problem. This often results in a lot of stress and worry for the people involved. One thing that I find sad is that people who may find themselves unable to pay their bills are frequently penalised by financial penalties!
This simply escalates the problem beyond the ability of people to sort themselves out!.
Make a list of every payment that you make
You must list all the payments that you make and when you make these payments. Are the payments that come out of your bank account? What is the payment frequency (monthly, annual, weekly, other)?
Do you pay these bills by cash or cheque or some other way? The important point is that you must list all these payments so that you know what you need to pay out.
Now work out which of these payments have to be made. Maybe some are not essential and can be cancelled, club memberships for example. You may even find some direct debts which have continued to be paid even though the debt is paid off, in which case make sure that you get your money back!
Some of the bills that you pay are essential and must be paid or the consequences could be serious. You don't want debt collectors at the door or the electricity cut off!
