Business Telegraph

The Entrepreneurs

Bill Shock - 4 Steps To Take If You Get A Bill That's Higher Than Expected

  • Written by News Company


Paper usually can’t punch you in the stomach, but an unexpected bill can. These powerful blows can manifest in the form of medical bills, car repairs, a broken phone, or even higher than usual utility bills. Instead of falling into despair and losing hope, here are the four steps to take if you get a bill that's higher than expected.


Create a plan

Even if you weren’t prepared for a large bill, you can take certain steps to tackle it without too much stress. Determine if this can be paid in installments over time or if you need to pull the cash together fast to avoid high fees, interest, or having your utilities shut off. Always read the fine print on any fast loans you take out in the event that you need to pay off the bill quickly. You don’t want to sign up for an even bigger problem than the one you already have now. Having a plan in place will not only help you pay off the bill but will also help you curtail stress by cutting out all uncertainty.


Budget

If you didn’t have a budget already, it is time to work on one now. By evaluating your income and controlling where it goes, you can see how much money per month you can use to attack the bill and bring the outstanding balance down to zero. Learning how to budget is the single most important thing when it comes to financial savviness. Save yourself the time and worry by installing a plan and creating the budget to power it.


Stay diligent

Even with a plan and a budget, it can be discouraging to see the balance decrease in minuscule increments each time. If it’s a medical bill you’ve been hit with, there are ways to get help paying them. However, credit card statements and other bills can be just as large and demoralizing. When you’re hit with frustration, remember your plan. Whether it is realistic to pay it off within the month, this quarter, or if you need years, it can be hard to see the light at the end of the tunnel while in the thick of it. But remember, it will not last forever. Your debt does not determine your self-worth, and this is just a season. With your plan and budget, you will make it out alive with cash to spare.


Reward yourself

It can be tempting to funnel every spare cent into the unexpectedly high bill, but be sure to reward yourself with small treats while working to pay off the debt. Once the balance has been paid off, you can splurge on something a bit more indulgent. This doesn’t mean taking an extravagant trip and landing yourself in an even deeper hole. However, it’s worth doing something to celebrate another month of sticking to the plan. Otherwise, you risk losing motivation. Stick to small luxuries, and you’ll be fine. Then use that monthly budget to invest in your future once you aren’t paying off the past. Reward the small wins. This will help you stay diligent, motivated, and excited to be working towards financial goals.



Large bills can be debilitating when you aren’t expecting them, but there’s no need to lose hope. With a plan, a budget, and diligence, you can get that outstanding balance from enormous to manageable to zilch before you know it. 


Image by Time Gouw at Pexels

Entrepreneurs & Leaders

How To Choose Leather Watch Brands

Every accessory has its value and beauty to add on to the user using it. A watch, the most common accessory, is no...

Aerated Treatment Systems: The Best Alternative for Septic Systems

In rural areas with houses that are spaced widely apart, residents use onsite water treatment systems like aerated...

Would you be able to bring down business transfer expenses?

While you can agree to an online-based business account like TransferWise or PayPal or go with the great standard ...

Top 10 Office Desk Accessories You Must Buy

The design or set up of your office is one of the important factors affecting your productivity. Available space, ligh...

10 Female Inventors You Should Know About

We are all aware of the great and historic male innovators such as Alexander Graham Bell and Benjamin Franklin. Ho...

Startups to ‘explode' post COVID-19

Frenetic start up activity is imminent as business begins to adapt to a post COVID-19 economy, according to the ho...

New Tech Career Programs Opened Up For Thousands of Job Seekers

Randstad partners with veteran business WithYouWithMe to help Australians gain new tech skills Global leader in H...

6 Great Tips for Building a Custom Home You've Always Dreamed About

Building your own home is a great opportunity to create a customized space that suits your needs perfectly. Howeve...

10 Important Things to Consider Before Selling Your House in Perth

Have you been thinking of selling your house? It would help if you started to prepare as early as possible, ensuring t...

FIVE THINGS NO ONE TELLS YOU ABOUT BRACES FOR TEENS

Health is a fundamental concept of living. Without health, there is nothing. The term “health” refers to a state where...

SEVEN HOME IMPROVEMENT IDEAS ON A BUDGET

One tends to get bored with the same daily routine of going to work and completing household chores. After a tirin...

TIPS FOR STARTING YOUR OWN LAUNDRY BUSINESS

Not every apartment has all the items that one might need, and in such cases, a common man would see helplessness, but...

BENEFITS OF USING A COMMERCIAL LAUNDRY SERVICE

No doubt, we are living in a century where our lives revolve around various kinds of machines and gadgets. And the sol...

TOP IDEAS FOR PROMOTING YOUR SMALL BUSINESS

Are you wondering about doing smart promotion for a small business without breaking the bank? Well, there are a lot ...

TOP TEN HOME OFFICE UPGRADES FOR 2020

The outbreak of the COVID-19 pandemic has been the biggest highlight of the year 2020. It has drastically affected the...

DISRUPTIVE INNOVATION CAUSED BY SMALL BUSINESSES

Innovations that undermine the natural balance of resources and values ​​in the market are called disruptive innovat...

HOW THE ADVENT OF E-COMMERCE HAS EASED PEOPLE'S LIVES

In this modern era, we are currently living a convenient lifestyle, all thanks to technological improvements. Many peo...

7 BENEFITS OF NETWORK-BASED CUSTOMER SERVICES TO INCREASE YOUR BUSINESS REVENUE

Customer service is the support that you offer your customers before, during and after they buy or use your products o...

DIFFERENT TYPES OF INDOOR AND OUTDOOR GAMES ONE SHOULD TRY

Games are integral parts of human history and an integral milestone in the development of human civilization. They are...

Maintenance of A Home: A Necessity To Avoid Mishaps

In the rapidly changing world, people are often seen struggling to maintain their lifestyle with the best available re...

What Is Invoice Factoring & Does My Business Need It?

Are you ready to move your business to the next level but dreading the long and intensive application process? If you ...

SUSTAINABLE SMALL BUSINESS’ GROWTH IN 2020

When it comes to a rather smaller business, any kind of growth seen within it is considered to be a triumph. However...

ANZ Access Advantage Card: Benefits and Features

ANZ advantage card features a host of incredible benefits when opening an account. The ANZ account allows for a ra...

Business Meetings - What is the correct Way to Write Roman Dates

How do most people plan their daily tasks? What is the first parameter which they think about before starting the day? T...



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion