RICHMOND, Va. (WWBT) - Now that the $600 weekly federal relief benefits have ended, bills are coming due. And if you’ve run out of extra benefits or you are still looking for work, there are some emergency steps you can take now.
For instance, if you know you can’t pay all of your bills this month - you really want to focus on the essentials. Make sure you have the money for food and housing, then utilities.
If you know you can’t pay your credit card bills or a utility bill right now, it’s time to call that company and explain the situation.
Kim Palmer, a personal finance expert with NerdWallet, says a lot of companies are listening and have created hardship programs. They may be able to waive the requirement you pay on time for a couple of months.
“Waive late fees, waived interest. Make sure you know what...you’re signing up for because in some cases interest does continue accruing, but it’s definitely worth calling to ask what kind of hardship programs are available,” said Palmer.
Another key here is to rework your budget. Adjust it to account for the change in income. List your necessary expenses so you can anticipate what it’ll cost to cover the basics and trim additional expenses where you can.
If you have an emergency fund, now could be the time to use it.
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