Bills to Pay and Bills to Delay

Bills to Pay and Bills to Delay

In tough and uncertain times, it can be helpful and appreciated to know what bills to pay, and which bills to delay.  Before delaying payments, first cancel all subscriptions to corporations, to help eliminate recurring monthly charges.

Pay (in this order)

  1. Grocery bills - food is a basic need, and at least for the time being, so is the food supply chain, which needs you to pay the bills to stay effective
  2. Heat/fuel - if you want more in the future, then make sure you pay for it before you risk being cut off
  3. Medicine (life prolonging) - if possible, order refills of the maximum duration
  4. Doctor - unless you are okay with them moving away or refusing to see you
  5. State & local taxes - if you value your fire department, public safety officers, teachers, etc. then keep in mind that their income so THEY can buy food comes from your state & local taxes
  6. Trash removal
  7. Child support (this may be ranked higher depending on the means of the other parent)

Delay Payments (in this order)

  1. Debts (mortgages, credit card bills, car payments) to large corporations (banks, etc.)
  2. Debts to the federal government (student loans, federal taxes, etc.)
  3. Electricity and water (during the crisis, electricity and water most likely not be shut off for delayed payment)
  4. Cable/TV/Satellite (consider how critical it is to your life, and the likelihood of it being shut off)
  5. Insurances (consider this one carefully regarding what the risks are to you and your family for delaying payment.  While this may be a no-brainer to some, it won’t be for others)
  6. Phone (check to see whether cut-offs are being frozen for late payment)
  7. Rent (depending on who is getting the money and what their means are)

With this in mind, remember to make sure to also cancel all subscriptions and memberships to corporations.  Consider carefully the impact of doing so on local businesses and the owners’ means (ask if you are uncertain).

Also, delay all purchases that are not critical to ensuring your basic needs, both in the short term, and in the longer term.

Consider paying for everything with credit until you have no remaining credit; then spend savings.

All this said, consider these ideas for yourself and make sure you agree.  Never take anyone’s advice or suggestion blindly.

What am I missing?  Let me know, and I’ll add it in.

Questions on why this order?  Let me know as well!  ;-)

*****

Related - This would be the priority in a non-crisis for comparison
https://www.washingtonlawhelp.org/resource/prioritizing-debt-which-bills-do-i-pay-first

Version: 2020.03.18.1033 GMT Aaron Wayne Wissner

Comments

Post a Comment

Popular posts from this blog

There is no Fault, We're in this Together

You are here, now. No matter where you are, no matter what you might sense... hear, see, smell, feel, taste... you are here, now, at this moment. And, more likely than not, you are a part of civilization. Why are you here? You are here because of a series of events, from the beginning of time until now, or at least, so it seems.  You were inevitable.  Now, your history is something different.  It is not the reason you are here, rather, it is the story of how you got here.  For example, at some point, your biological mother became pregnant, and this is often considered the beginning of the story.  But, you are not just any human, you are you, and what made you who you are is really two parts: the contents of that single sperm and single ova, and after they combined, everything that surrounded you, and how you responded and were changed by it. And, now you are here, reading, or maybe listening, to this.  And I, of course, the result of a ...
Read more

8 Ideas for Supporting Your Favorite Restaurants in A Time of Crisis

There are several many ways to help local restaurants during the crisis, and here are a few: Gift Certificates -- Buy gift certificates.  See if you can order them via phone or online and have them mailed to you.  Insist that they have no expiration dates. :-) Shares -- Offer to buy shares.  Shares are a bit of ownership in the business. Everyone shares the risk, and the potential reward.  Create this with annual dividends, but excuse dividend payments for 2020 and 2021.  Bonds -- Offer to buy bonds.  Bonds are guarantees to pay back cash at a certain point of time in the future (with or without interest).  Various maturities could be created, for example 1, 2, 5, 10 years. Local Currency -- Help set up a local currency where you exchange US dollar for the local currency, with the dollars going to the participating businesses. Tax Refund -- Advocate for a tax refund (for example: $2,000) for all adults in the USA, and to include an equal amo...
Read more

Hope from History in Times of Change

One need not be a church goer to be comforted by the words of one Pope's message for World Day of Prayer for Vocations - Vatican News Even one without faith can understand this message, especially if one accepts a few likelihoods: That there was once before a great economic crisis (as always eventually happens with money and debt) and that the one who first understood the truth of the crisis AND then taught this truth to those around him, grew so trusted and loved, that his story was recorded, and being true in all regards, stood the test of time, and is now written in the Bible as the story of the life and teachings of that man That God is a synonym for the cosmos or existence (especially the earth and the sun) and that we humans are the "inevitable result" of time (or "evolution") and that the powerful emotion of Love is inherent in all babies, and therefore all adults as well That stress from unexpected change triggers freeze->flight/fight impulses...
Read more