Bills That Kill Our Life
What scares someone most people when they get unemployed next day? Its the bills they have to pay. Electricity, Gas, Rent, Mortgage, Insurance, Loans, Phone, Internet, and all sorts of bills goes on increasing once people start earning more and more money. But that doesn't happen when income goes down drastically down.
Bills are our liabilities and they tend to pile up. When inflation increases bills increase and our cash decreases. Bills are good if income is good. But nothing stays there forever. Things can change over night. Economy crashes but bills don't evaporate over night. They come back every month to haunt you.
Few things that might help with bills.
Bills are our liabilities and they tend to pile up. When inflation increases bills increase and our cash decreases. Bills are good if income is good. But nothing stays there forever. Things can change over night. Economy crashes but bills don't evaporate over night. They come back every month to haunt you.
Few things that might help with bills.
- Don't get something if you don't need it. If you need it, then first try to make a back up plan with cash.
- The lesser the better.
- Get rid of recurring bills asap or Get a recurring income to support it.
- Get rid of bills and even things, if income goes down. If corporations can size down, no harm in sizing down.
- Bills get nasty beyond due date. So Avoid late payment
- Safety stock: Have enough cash to survive at least six months if things get worse.
- Every day is a good time to save money for next month.
Do you know any tactics or practice you follow for bills? Send me an email.
