Sure it’s a cliche, but it bears repeating: “There’s too much month at the end of my money. “
Not everyone is a financial wizard and not everyone is independently wealthy. Budgeting is difficult and surprises await those not ready with a three-month cushion of emergency cash.
Of course, some may think, “What’s the worst that could happen if I don’t pay my bills?” The comprehensive answer to that simple question is “Well, it depends. “
It is inconvenient.
When it comes to utilities, shut-offs are the first line of defense against non-payment. Very few people like to do without electricity, natural gas, water, etc. So usually getting them shut off is incentive enough not to get behind.
Taking time off work to be home for re-connections is not only a pain in the neck, it puts a strain on work life too. Gas companies generally will not re-establish service without someone being there, so that they can take necessary safety precautions.
Eventually, the customer will have to talk to someone about failure to pay. Dealing with bill collectors is not only a hassle, it’s embarrassing. Collections agents are doing their job and do not care about the reason why there was a failure to pay.
It costs more.
Almost any company doing business will charge late fees. Whether it is a percentage or a flat rate, it ends up eating into the budget, making the next month tight on money as well.
Utilities will charge you reconnect fees any time they disconnect service. This can be up to half of the average monthly bill, although most charge a flat rate. Since the customer is over a barrel, they have no choice but to pay it or do without, so it is never cheap. This, of course, is in addition …Continue reading