You have $100 left 'til pay day, what do you do?

Question

Pay day is one week away. $60 will cover you for groceries. Utilities are current. You have 3 bills due that the remaining $40 doesn't even come close to covering. What do you do with your remaining $40?

Hypothetical question, just for fun.
I'm fine in real life, just wondering what people think.

Answer 1

save it

Answer 2

These days many people get into financial trouble by maintaining a balance on their Credit Card statement. The best way to avoid that is to adopt the attitude that if you don't already have the money in the bank, then don't spend it. I always pay all of my bills in full when they come in because I make sure that I have the money around before I make a purchase. I recommend that 1st you stop making unnecessary purchases now. If you don't need it to eat, get to work, or put a roof over your head don't buy it until all of your bills are paid up in full. As for the outstanding bills that aren't covered by the $40.00, I also recommend that you divide the $40.00 up between those 3 bills & send it in. It's better to demonstrate to your creditors a willingness to pay your debts than it is to ignore them. You will likely have a penalty or interest charge, but it will be less than if you didn't send them any money at all. Keep paying & not spending until you are debt free, & stay that way by not spending what you don't have.

Answer 3

First, I would cry. Literally. Then, I would make sure gas was in my car so I could get to work. Next, if this was an out of the ordinary month and I was caught short, I would call the 3 remaining bills due and work out a payment plan if this was possible. If this occurs monthly, I would get a second part time job to pay off extra curricular bills. I would not use any credit cards. They will only lead to more debt.
While I am totally against it, I would consider if I had children to deal with, on getting a low interest loan that consolidated the 3 bills so I could make one low payment monthly on them. I would still look for another part time job to pay it off as quickly as possible.

Answer 4

Try not to let those bills slide. Eat oatmeal for breakfast and ramen for other meals, knocking down the groceries to under $10 (you have multivitamins around somewhere right?) and stop off at your parents / friends / people-on-vacation's house for additional victuals. Coyly get yourself asked out to dinner, even if it's a buffet (I know, life is hard sometimes). Also you can catch fish and pick your neighbors' excess veggies from their garden for additional food... all free of charge. Some hotels have their complimentary continental breakfasts out in the lobby or other central location -- just look like you belong. Now that you've got the food thing under control. Take the remaining $90+ and sell some cd's back to get the bills paid as best you can... at least try to hit the minima on each. Good luck!

Answer 5

Invest it in some education on how to make a budget. If you're living this tight - at least in my opinion - you should be making some changes. You should be asking yourself - I know I will have $500 left over this year when all is said and done.. what vacation can I go on this year that will fit that figure.

Okay.. but that doesn't solve your immediate problem. You should call each company you owe money to and tell them you're sob story. Then tell them you want to make payments and you'll do the best that you can. They'd rather see payments than have to send it to collections.

And if you only pay one company and not another, with no communication you could end up with something on your credit report. If you at least call them, it probably wont go on your credit unless you just tell them you have to skip a bill and make no effort.. that probably wouldn't fly.

Answer 6

First you need to take in what kind of bills and how many you are feeding because $60.00 for groceries for a week can be cut down to less if the amount of people are less take it 2 people OK a bag of rice a bag of macaroni a bag of noodle thing like that won't take 60.00 drink water or make a instant drink.

I mean cut down on the grocery bills and send it something most bill collectors will rather take something over nothing if they are credit cards get rid of them if you are having trouble with getting from pay day to pay day then get rid of them my dad always told us if you can't pay with it with cash then you don't need it.

Answer 7

Well I would pay the bills that I really need to pay, by what groceries I need to the most. And with the reat of it put in the bank so it could add interest to it. by the time the next payday comes I ould have almost twice as what I put in there. Cuz you could not have have too much oney in your hands or in your pocket.

Answer 8

check n' go for extra money

if you want to pay the outrageous 10% or whatever service charge. What I'd do is not buy so many groceries. Live on Ramen Noodles and tv dinners for a week. and pay all your bills now.

Answer 9

try to stay home.
I'll delay paying the bills until i have enough for it.
In my country the bills can be delayed but if u pass
a dateline, they'll just sent u a warning letter thats all.

not a good position to put urself into~

Answer 10

Call your creditors, tell them your situation, and ask them if they will give you a little extra time. Beleive me, the voice of experience here. I had to do it today, last week, the week before, and have had to off and on for the past five years. Then use the rest of the $40.00 for gas and emergencies.

Answer 11

Well, if the last three are due I send in ten dollars to each with a note explaining my situation and stating that the $10.00 was an act of good faith and that as soon as I got paid, they too, would be current.