How to Pay off Personal Bills

Member

By Sondrac
User-Submitted Article

Article Rating:

(13 Ratings)

pay off bills

We manage to pay off large loans or bills that are outstanding. Getting out of debt can be done in small equal amounts especially if we owe money to a family member or friends. Pay off personal bills, so you can keep your friends and make family members happy.

Difficulty: Easy

Instructions

Things You'll Need:

a budget
an adding machine
paper and pencil

Step 1

Create a budget to see how and where you spend your money. List every item that you buy, no matter how small or large. If you are not sure about what you had spent, call the store and ask for their companies telephone numbers in case you have to use your cell phone to call the main office. and tell them what you bought. Listing expenses on a weekly basis makes budgeting easier to figure out using smaller numbers. Remember, this is where your money goes or is spent for each week.
Step 2

Figure out how much personal bills you actually owe. If you owe a on a credit card you will have to add to the debt. A credit card charges monthly interest charges on unpaid debts, no matter how small or large the amount. The longer it takes to pay off the debt the more money you will have to pay off and the worse shape your finances will be. Learn not to loan or borrow money from anyone, friends, family members or credit cards.
Step 3

Understand that if you owe personal bills, the amount you have received from them, is that much less that they had to spend. You should pay them interest for the time it took to pay off the loan, so do not be surprised if you are asked to add more money to your debt. Calling them and discussing the financial matters might make it easier to pay off and still remain friends.
Step 4

Pay off personal bills and find it might be be easier by writing a check or money order for the full amount, if the amount is small enough. Check out your financial budget and see what you can do without for the time being. Set this amount aside in a safe place where you will not be tempted to use it.