Too many bills to pay? 6 tips for rearranging finances

Do you get to the end of the month with too many bills to pay? Reorganize yourself. We have some tips to help you for rearranging finances.

Having fixed monthly expenses is part of having a house to manage. It’s the water bill, the electricity bill, the gas bill, the rent or bank installment, the condominium fee… the bills to pay keep popping up in the mailbox and, in fact, you don’t even get scared, because you know it’s normal .

It may happen, however, that the game of bills to pay by the month gets out of your control . One day you look at the mailbox and there are several envelopes, all asking for the settlement of debts and monthly payments, and suddenly you find yourself looking at a squeezed salary when the month is not even halfway through.

Do you see yourself in this description? So, accept the diagnosis: you are most likely immersed in a sea of ​​bills to pay every month – more than the ones you should be paying.

HAVE TOO MANY BILLS TO PAY AND WANT TO REARRANGING FINANCES

It’s not that five-euro installment for the new phone you bought, nor are those 10 euros from the streaming platform . It’s all together that makes your financial life unbalanced at the beginning of the month.

The problem with monthly bills is that they add up little by little, so discreetly that you don’t even notice. It’s five euros here, ten there, another five there, and next thing you know you have large tens of euros committed every month and you don’t even know why.

The easiest way to make your diagnosis is to compare the value of your account on the day your salary comes in with the value of your account at the end of a week. The money flew without telling you where it was going and, after eight days, you only have half of the salary you received? It’s because you’re too committed and it’s time to rethink expenses.

HOW TO DEAL WITH BILLS TO PAY AND REARRANGE FINANCES?

First of all, let’s start from a consensus: it’s practically impossible to live without fixed bills to pay. Unless you live in a cave without water or light, the bills will always appear regularly and that, as long as it doesn’t suffocate you, doesn’t hurt. The objective here is to help you control the number of bills and the weight they have in your budget , so don’t believe that you will miraculously “clean” your commitment record.

Make a list of what you pay

It’s very easy to lose track of the bills you pay monthly, especially when you subscribe to direct debit systems . The money comes out of his account regularly, without much scandal, and since he doesn’t see the process, he doesn’t even remember that it happens.

Thus, the first step towards a more controlled financial life is registration. Look at your bank statement and identify all the bills you paid that are regular: water, light, gas, rent, car loan, gym… everything you pay monthly.
The list must contain the description of the expense, the amount and the name of the creditor. It is with this information that you will play in the following steps.

Consider adding expenses

Look at the list of lenders and categorize them by area of ​​business. Your list probably has the names of companies that sell the same thing: telecommunications, gyms, energy, credits… what if you consolidated these values?

Look for the companies you pay and ask if they can’t provide all the services you use in that area of ​​business, aggregating the total expense. You can, for example, combine all the family’s cell phones into a single family plan, or consolidate personal credit with that of the car at the same banking institution.

The advantage of consolidating debt is that service providers often give you good discounts, reducing your total expense each month.

Get rid of some bills

If you’re feeling overwhelmed with so many bills to pay, this is a strategy you won’t be able to escape. Mathematics is not usually subjective, so the solution always follows the same path: if you have more accounts, you have to have fewer.

To reduce the number of bills to pay every month , one way is to cancel the services you benefit from. Is it hard to stop going to the gym or start going less often? Of course it costs. Is it hard to stop watching a series? We know it does. But notice: none of these things are more important than your financial health .

Giving up part of your life is not easy, but it is often the only alternative. If you need motivation, think that this could be a temporary cut and that soon you will be able to subscribe to those services again if you recover your financial health.

Another way to eliminate bills from the list is to pay them in full. Buying consumer goods on installments is rarely a good deal and leaves you stuck with monthly payments that, together, weigh heavily on your pocket.
Thus, if you have active monthly payments for products you have purchased and it is not impossible to pay them immediately, pay off the entire debt. The short-term financial effort will be huge, but it’s worth it, because the next month you won’t have that bill to pay. From here, always remember: it is not a good option to buy low-value products in installments.

Another tip

We have to give you is to look very carefully at the name of the creditors on your list and confirm that all of them have active processes. We tell you about this because it is not uncommon for us to stop using services and forget to cancel the respective direct debit . Result: we spent months paying for something we didn’t even use!

Renegotiate with creditors

If debts accumulate, do not let yourself reach the limit: look for the institutions to which you have to pay installments and ask to renegotiate the debt .

We know that admitting financial difficulties is neither easy nor pleasant, but we assure you that no company would rather lose money than receive it more slowly. He has courage, holds his head up and speaks openly about his situation.

Get more income

This is a limit solution, because it requires greater physical and mental effort, but if you really have a lot of bills to pay and you can’t settle them right away, it’s best to find more sources of income to help you face all the problems. costs.

The good news is that if part of your monthly fixed expenses is related to short-term commitments (for example, consumer goods that you bought in installments), this extra source of income is probably only temporary and you can get rid of it as soon as possible. finish paying off some debts.

Don’t make excuses

If you really have to cut back on expenses , don’t rationalize. Do not come up with justifications for not giving up this or that service, because the objective is not to convince yourself that you need it, but to solve your situation. We don’t need to know if subscribing to weekly massages is essential to your well-being: the choice between them and your financial health is yours alone.

To better fulfill this objective, our advice is that you take your list of bills to pay, select the descriptions of the services and show it to a friend. Ask him to point out the ones he thinks are less essential and start cutting back from there. If he thinks they are not essential, it’s because they probably aren’t – no matter how hard it is to give them up.

Accumulating too many bills to pay is a very common mistake and, not infrequently, it is the first step towards insolvency . Keep in mind that you should only agree to pay monthly for what really has no other solution. Also, in this situation, avoid direct debits and do Rearranging finances. Pay everything manually, to get a sense of what you spend. Attention is your pocket’s best friend!

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