When life throws you a curveball—like a job loss, a surprise medical bill, or an unexpected home repair—it can feel like your finances go from manageable to messy overnight. During these tough moments, it’s easy to feel overwhelmed by mounting bills and shrinking income. But even when you get hit with emergency bills, there are practical steps you can take to keep your head above water and maintain financial control.
Start with a clear look at your emergency bills
The first thing to do is press pause and assess where you stand. It might be tempting to jump straight into problem-solving mode, but understanding the full picture helps you make better decisions.
Before you make any financial moves, ask yourself the following:
- What’s happening? Identify the underlying reason for the emergency bills and how long they may affect your income or expenses. Is this a short-term disruption like a temporary job loss, or could it stretch into months?
- What are my income sources? Tally up what money is still coming in. This might include unemployment benefits, part-time work, or income from a partner or household member.
- What are all my bills and debts? Write down every bill you owe—rent or mortgage, utilities, credit card payments, insurance premiums, and any other obligations.
Creating a full account of your finances can feel stressful, but it’s the foundation for making a solid plan.
Focus on what matters most
When you’re faced with emergency bills, it’s important to prioritize the expenses that keep you safe, secure, and stable. Not all bills are created equal, and it’s okay to delay or reduce some while focusing on others.
Pay these essentials first:
- Housing: Rent or mortgage should be at the top of your list. Keeping a roof over your head gives you a sense of stability during uncertain times.
- Utilities: Electricity, water, gas, and internet (especially if you’re working or job hunting from home) are necessary for daily life.
- Groceries and medicine: Cover what you need to stay nourished and healthy.
- Transportation: Whether it’s gas, a transit pass, or car insurance, make sure you can get to work, job interviews, appointments, or part-time gigs.
Revisit your budget
When money gets tight, taking control of your spending becomes even more important. Reworking your budget might sound daunting, but small changes can have a big impact on how you handle your emergency bills.
Here’s how to do it:
- Cut non-essentials: Put a temporary pause on streaming subscriptions, takeout meals, or impulse purchases.
- Delay big expenses: If you were planning to buy a new phone, furniture, or go on vacation—hold off until your situation improves.
- Use budgeting tools: Best Egg Financial Health offers a free Money Manager tool that helps you see where your money is going and make adjustments.
Adjusting your spending doesn’t mean giving up everything you enjoy. It’s about getting through this moment so you can thrive again soon.
Reach out—help might be a call away
If money is especially tight, consider calling service providers to ask about temporary assistance or payment plans. Many companies offer flexibility if they know you’re going through a hardship.
Being proactive can go a long way when you’re dealing with emergency bills. Contacting creditors before you miss a payment shows responsibility and gives you options.
Here are a few things to ask about:
- Hardship programs: Credit card issuers, utility companies, and lenders may offer temporary relief like deferred payments or waived late fees.
- Lower monthly payments: You might be able to reduce your payment amount while your income is lower.
- Pause or skip options: Some lenders, including Best Egg, offer features like Skip-a-Pay that let you delay a payment when you’re in a pinch.
Be sure to get any new agreements in writing and keep records of who you talked to and what was discussed.
Look for financial assistance programs to help with emergency bills
Depending on your situation, there may be state or federal resources that can help cover emergency bills during tough times. Don’t wait to explore these—many have fast applications and short-term benefits.
Start with:
- Government assistance: Programs like SNAP (food assistance), Medicaid, unemployment benefits, and utility assistance may be available based on income or hardship status.
- Community resources: Local nonprofit organizations, religious groups, and charities often provide support for housing, food, or utility costs.
- Employer assistance: Some companies offer emergency grants or allow you to cash out vacation time.
Consider temporary ways to boost your income
While you’re adjusting expenses, you might also explore how to increase your income—even just for a short time. Extra cash flow can reduce the pressure on your budget.
Ideas to explore:
- Part-time or gig work: Driving for rideshare apps, tutoring online, delivering groceries, or freelancing can help bring in immediate money.
- Sell what you don’t need: Gently used items like electronics, clothing, or furniture can be sold on resale platforms or on sites like Facebook Marketplace.
- Leverage your skills: If you have a talent for writing, design, repairs, or baking, consider offering your services to friends and neighbors.
It’s okay if the extra income is temporary. Every dollar helps right now.
Consult a financial expert about your emergency bills
Sometimes, managing everything yourself can feel like too much. That’s where financial counselors and advisors can make a real difference.
You might benefit from:
- Credit counseling: A nonprofit counselor can help you organize your debts and create a plan to repay them.
- Debt consolidation options: A consolidation loan can combine high-interest debts into one fixed monthly payment—often with a lower interest rate.
- Professional budgeting help: If your finances are complex, a certified financial planner can help you set long-term goals and stay on track.
There’s no shame in asking for guidance. In fact, getting advice now can help you avoid bigger problems down the road.
Start building an emergency fund—even a small one
Once you’ve stabilized your situation, it’s a idea to prepare for the next time you’re faced with emergency bills. And yes—even saving a little at a time can make a difference.
Try these steps:
- Set a small, achievable goal: Start with $100 or $250 in a savings account dedicated to emergencies.
- Automate your savings: Set up a weekly transfer of $5 or $10. Out of sight, out of mind.
- Celebrate small wins: Each deposit is a step toward peace of mind.
An emergency fund gives you more freedom and confidence the next time life throws something unexpected your way.
Feeling more confident?
By building a plan to handle emergency bills, you can take smart and informed steps to ensure you’re covered. Assess your finances, prioritize essential bills, ask for help, and adjust your budget, and you can get through tough times with less stress and more control.
This article is for educational purposes only and is not intended to provide financial, tax or legal advice. You should consult a professional for specific advice. Best Egg is not responsible for the information contained in third-party sites cited or hyperlinked in this article. Best Egg is not responsible for, and does not provide or endorse third party products, services or other third-party content.
