How to Pay Bills on Short Notice

If you can’t afford to pay your bills, in many cases, not every bill is the type you want to put off another month. Fortunately, there are many sources you can go to for funding to assist in paying bills on short notice. Even if you have bad credit and it does not feel like there are many places to turn, something as simple as a payday loan may be what you need to carry you through to next month when you can make payment.

Here is how to pay bills on short notice.

Write Out Bills and Deadlines

Please make a list of all your upcoming bills and their due dates. Note the urgent bills. Try to minimize late fees by paying your bills in order. Rely on your available funds, such as those in your bank account, savings, or any cash you have. Allocate those funds and other income you will earn this month to cover the most urgent expenses.

Strategically Use Credit Cards

Many people reach for a credit card when they have bills to pay on short notice, but it’s key to use this method strategically. Be cautious about accruing high interest if you don’t think you can pay off the balance quickly. If you have low-interest credit cards, use those first to minimize any additional financial burden you may be saddled with heading into next month.

Consider Payday Loans for Fast Cash

Payday loans are designed to provide quick cash for urgent bills. This is precisely their use. Payday loans are short-term, designed to bridge the gap between paychecks. While they have high interest rates, payday loans are simple and easy to apply for, and there’s no waiting for the cash to be deposited into your account. In 24 hours or less, you can have your loan.

Borrow from Family or Friends

If you only need a small amount, consider contacting someone you trust. The risk here is that you could ruin the relationship if repayment does not occur under the terms you lay out. If you know you can repay it under the terms you agree to, using a family member or friend as a lender can cover bills on short notice.

Apply for a Personal Loan

A personal loan can be a high amount. For significant expenses, it is your best path forward. The downside to a loan is that it comes with interest. A primary advantage, however, is that it offers a long repayment term. There is no need to immediately pay off a personal loan, which means it is easier to manage than other sources of money.

Explore Peer-to-Peer Lending

Many peer-to-peer lending platforms online allow you to apply for a loan. They connect lenders to borrowers, offering flexible terms and a clear outline of fees and repayment terms. For individuals who cannot receive assistance from banks or through payday loans, peer-to-peer lending can be an interesting area to explore.

Look for Local Community Supports

You may be surprised by what you can find locally for financial assistance when paying bills on short notice. Local community support can come from local governments, churches, non-profits, and other organizations. Your utility bill companies can recommend programs or organizations to help you pay your bills.

Look for Gigs and Cash Jobs

Use your skills – such as labour, graphic design, tutoring, or education – to freelance and earn extra income on special gigs. Explore cash jobs, such as food delivery or ridesharing apps, where you can make quick cash. These jobs with flexible schedules and faster-than-average payouts might be your answer on how to cover your bills on short notice.

Sell Some Items

Go to Facebook Marketplace, eBay, Kijiji, Craigslist, or small local classifieds to sell high-value, unused items. Electronics, instruments, furniture, jewelry, and similar items can be sold for potentially a few hundred dollars or more, helping you cover bills on short notice if you’re willing to part with them.

Rent Out a Room

Join Airbnb for a month and offer a short-term rental for a spare room. This can provide supplemental income for as long as you want. If there’s been a pattern of inability to pay your bills, you may want to consider a more long-term rental and getting a roommate. This can provide consistent cash flow.

Communicate with Bill Providers

Although it’s not ideal, you can contact your service providers and request payment extensions or attempt to negotiate a payment plan. Asking for extra time to pay will not guarantee such an arrangement, but one or more may be willing to accommodate. Many companies have hardship policies designed to help loyal customers in need.