If so, you may be wondering how to get back on track with your finances. Fortunately, there are some steps you can take to better manage your money and increase your financial literacy so that you can avoid these problems in the future. Keep reading below to learn more about what to do if you can’t pay your bills and how to improve your credit score over time.
1: Admit That You Have a Problem
I used to be so embarrassed when I couldn’t pay my bills. I thought that there was something wrong with me and that nobody could understand how embarrassing it was. But then somebody told me about how to repair your credit and it’s been a life saver! Check out this guide on repairing your credit. It will help you figure out how to start fixing things from the very beginning. The steps are easy and there is also a ton of information in the post that will teach you how the process works and what you need to do step-by-step. You’ll never have another problem paying your bills again!
2: Track Your Spending

- Start by adding up all of your monthly expenses, including groceries, utilities, car payments, and other fixed costs.
- Now subtract that from your monthly income.
- If you have a negative number, figure out ways to make more money or reduce spending. You may also want to speak with a financial professional about how to repair your credit. Employers need to see the positive impact you've had on your life after declaring bankruptcy, not the mistakes you made in the past.
- Have an emergency fund: Having a small emergency fund will give you peace of mind when things go wrong. It'll help prevent bad decisions and lessen the burden when something happens in your life such as losing a job or getting into an accident.
- Get a side hustle: Working two jobs might sound tough, but it's worth it if it means cutting back on your hours elsewhere and earning extra cash.
- Pay off old debt before taking on new debt: Whether it's credit card debt or student loans, tackling these debts first will save you time and money down the road.
3: Budget for What You Need
We all have those times when we’re running low on cash and need to be able to keep paying our monthly expenses. This is where a budget comes in handy. Create a list of the things you need, and then prioritize which ones are most important. Once you’ve made your list, identify ways that you can cut back or earn more money so that you’ll have enough money to cover your necessities. If you’re unable to find any quick solutions, talk with a Decs- We Kill Debt advisor about how they might be able to help. Remember, it’s never too late to get back on track!
4: Get Help from A Non-Profit Credit Counsellor

If you are experiencing financial hardship and cannot make your payments, the best way to protect your credit and build up your score is to contact a non-profit Decs- We Kill Debt for help. They will offer you options for how to repair your credit and keep it in good standing. Decs- We Kill Debt can help you get on a budget, find the right bank account or manage your debt.
5: Have an Emergency Fund in Place
The first thing you need to do is to make sure that you have an emergency fund in place. An emergency fund is a savings account where your money is automatically deposited every month. You’ll use this account for all the emergencies that crop up – like when your car breaks down, or the water heater goes out, or the electric bill isn’t paid on time and they turn off the power. If you don’t have an emergency fund in place, this kind of thing can snowball into bigger problems and take a much bigger toll on your budget.
6: Create A Plan and Stick with It
It’s a daunting feeling when you realize that you don’t have enough money to make your next bill payment. But the more important question is: What are you going to do about it? A good first step is to take a look at your budget and see what changes you need to make to get back on track. You might be able to reduce your expenses, increase your income, or both. If necessary, contact your creditors to ask for an extension on payments or set up a repayment plan. And always remember: Debt is only one piece of the financial puzzle. Don’t let one bad situation throw off all of your other goals!
7: Don't Go into More Debt

The best advice is to not go into more debt. If you’re already in a tough situation, it’s better to just wait it out. If you need the money, then consider one of these options:
- Work extra hours Work extra hours Work extra hours Work extra hours Work extra hours
- Ask friends or family for help
- Take on another job
- Sell something you own that has value
- Get some temporary jobs
- Ask for an advance on your pay check