Finance Quick Answers
I have had a drop in my income and cannot pay all of my bills. How do I prioritize which ones I pay first?
Prioritize bills by which is the most important. At the
top of the list, should be bills that:
- Maintain shelter (rent or mortgage);
- Maintain vital services (utility, phone, transportation insurance);
- Cost the most to postpone (bills with late penalties, repossession or disconnect/reconnect charges); and
- May be vigorously collected.
Source: Barbara Rowe, Plan to Pay Creditors and Protect Family Welfare, Utah State University Extension, FL/FF-I-06.
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Last update: Monday, July 28, 2008
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