Pay Your Bills When You Are Broke

  • Cut cable TV / satellite TV- most people could save $100 per month
  • Stop eating out. Make all of your food at home, including lunches that you can take with you. Most people can save hundreds of dollars per month.
  • Stop paying for entertainment. No movies or ballgames for a while until you get your bills under control.
  • Arrange with your bank and credit card companies to “skip a payment” on some of your bills. Many companies will allow you to skip a payment once a year. You can use the payment that you got to skip to pay a different bill to catch up
  • Cancel travel plans. You need to stay home, not spend money traveling away from home. Even driving trips to stay with relatives cost money.
  • Stop using credit cards. Keep cash in your purse or wallet and spend that instead of using credit cards. It is harder to spend “real” money, so you will tend to spend less and notice how much you are spending.
  • Drive less. You will save money on gas plus wear-and-tear on your car. If you are out-and-about less, you’ll encounter less opportunities to spend money too.
  • Can you sell your car? If you have more than one car in your household, or live near public transportation, you may be able to sell a car which will give you some cash and remove a car payment from your budget.
  • Defer expenses such as buying new clothes, new shoes, or getting your hair done.
  • Cut your Internet service at home. Painful, I know, but if you can use Internet at work or at the library you can save $50 per month starting now.