5 Ways to pay emergency bills on time

Published 6 MAY 2022

Don’t we all hate the Payroll we didn’t see coming? We work so hard earning a living, trying to build a future where we don’t have to bother expelling our money on things - big and/or small. But reaching there takes time and toil. You can only build so much when breakdowns - personal and financial - are so common in the environment where most of us are working for salaries not nearly what we wish for. This makes lifestyles deteriorate in a highly inflated environment. Another inevitable problem the low salaries pose is the payment for emergency requirements. Given the size of salaries most people work for, every day is a new emergency. Some emergencies, we choose to ignore, some, we cannot. For the emergencies that cannot be avoided, we have listed out 5 ways that will help you pay your emergency bills, on time, every time.

Cut down your Payroll

Yes, your parents have been telling you this since you were a kid. We second the thought. One of the best ways to cut down your Payroll is to eat on time - when you eat on time, the urge to order that KFC or McD boils down. You now have an extra few thousand bucks at the month end. Stop purchasing impulsively, give your tingle a thought, do you really need that? Maybe you can thrift shop. Another few thousand bucks. Meeting a friend? Try taking a public transit for a change. Fuel? Get a bicycle. These habits are not just money saving, they are healthy too. And take our word, a healthy body homes a healthy pocket. Make yourself a time-money grid, see if you can substitute a few minutes for a chunk of money. Once you have this rolling, it is a big snowball. It will come in handy when the time comes.

Revisit your budget

Since you saved so much in the above point, try revisiting your weekly/ monthly budget and accommodate emergencies. Meaning, adding a “emergency Payroll” column to your budget. Put a piece of your savings that cannot be withdrawn over a feeling to buy those Nike’s. Not just your emergency fund, create a monthly savings goal. This way you don’t just anticipate an emergency, you also have money for disposal on items in your “wish lists”. Creating a savings goal and meeting it allows you to take that long-desired trip to Goa or wherever you choose to. Don’t stop at creating a budget, live it. Add more fields, make specific budgets, make a separate saving for everything you wish to purchase. Every penny you save will help you when the time comes.

Find alternate income sources

Everyone has tried making a budget and sticking to it. Doesn’t always work, does it? Your income is limited, Payroll always aren’t. Find the avenues where your interests and skills align, maybe take up a free-lance job. Let the additional cash flow in. If you can’t spare suffice time, see if you can add a “investment savings” column to your budget. Save up an amount you deem enough, invest into Stocks and/or Mutual Funds. Gain interest on the money that you saved. Put your money into revenue generating avenues. Money from these sources will be a great addition to your bank account and you can keep this cycle up to make room for any expected, or unexpected financial situations.

Avail promos and cashbacks

We all use bank cards (debit and credit) and various other payment portals for our day-to-day transactions. Most banking/ payment avenues come with great offers that let you save money in terms of discounts, promo codes and cashbacks. Know what payment platforms you are using, what bank cards you are using, and more importantly, know what offers they entitle you to. Tactically using your bank cards can help you save huge chunks of cash that would otherwise just be wasted due to unawareness. If your current bank cards & payment partners don’t come with good offers, get in touch with them and find out what options they have, what offers they have and accordingly pick the right cards and partners for yourself based on your needs and desires. The monies saved here, may very well be put under your “emergency fund” which, again, will help you when the time comes. Above stated were 4 ways of saving enough money to cope with any emergency situations that may arise. Now let’s be honest, saving money may help you with your emergencies, but it may not always be enough to cover all the costs. For such instances, one may look at bank loan options. However, if in some cases the difference between your emergency requirement and your emergency funds is little, or “not loan worthy”, read ahead.


EWA comes as a savior for all the individuals those are looking for more options to not take loans for small matters. What is EWA? EWA is Earned Wage Access. Now imagine your payday is on 30th March and you exhaust your salary by the 15th of April. What would you do then? If your organization has partnered with an EWA firm, you can get the wage for those 15 days that you have already worked for in the month of April. Amazing right? But this doesn’t necessarily have to be 100% wage for those 15 days. These terms and conditions are usually decided by your employer. It could range from 20% to 100% of your salary. But nevertheless, it still happens to be a great source when it comes to emergencies. EWA systems have already been in play in the US and UK, and in India they have started to partner with different organizations, which is a great step towards financial freedom of the employees.
Emergencies can arrive anytime and anywhere and being prepared for such emergencies is essential for everyone. Which is why you should take these points into account and choose the right ones for you. Take a step towards KiloPe, an EWA platform and get freedom from the stress that comes along with emergencies.

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Editor Aronjit Roy

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