If you’re one of the millions of Americans who have been laid off or furloughed as a result of the coronavirus pandemic, your cash flow may have slowed or halted entirely. But, of course, the bills keep coming. It is beneficial to have a strategy in place to manage your funds until the crisis has passed and you can return to work. Here’s some advice on how to pay your bills and when you might be able to put them off.

Where Can I Get Money 

Credit Cards?

In most cases, the best method to manage credit cards is to pay off your debt in full each month to avoid the often exorbitant interest costs. Of course, these are not typical times.

So, if you’re low on cash, carrying a load on your credit card for a few months can be a viable choice. If you have many credit cards, start with the one with the lowest interest rate. If you’ve reached your credit limit on that one, try another. But keep in mind that we’re talking about necessities here, not a shopping spree for a shelter-in-place.

Debit Cards and Checking Accounts

The amount you can charge on a debit card or withdraw from an automated teller machine (ATM) is usually limited to the balance in your checking account. You may, however, have a credit line linked to your checking account that you can access whenever your balance reaches $0.

Organize Your Bills

If you find yourself with a stack of bills but no corresponding stack of cash, it’s time to prioritize. Food is most certainly at the top of your priority list. The same is true for housing, which includes mortgage or rent payments as well as utility costs. You’ll need cash or a debit or credit card to buy food. However, you may have more leeway when it comes to housing and other important expenses.

Automobile Loans and Leases

Contact your lender or leasing business if you have a car loan or lease. Many automakers and other lenders provide emergency programs such as red payday loans that allow you to postpone payments for a month or more.

Automobile Insurance

Some insurers allow consumers to postpone paying premiums for some time without losing coverage. So check with yours to see what options you have. Make certain that you do not incur the danger of going uninsured.

Loans for Students

According to the Consumer Financial Protection Bureau, borrowers with federal student loans are not required to make payments on them until January 31, 2022, thanks to another provision of the CARES Act (CFPB).


When it comes to your gas, electric, water, phone, and internet bills, visit the provider’s website to see if it provides any special payment plans to help you save money. Many utility providers in the United States, but not all, have voluntarily halted shut-offs owing to unpaid payments, and some state governments have stepped in to require them to do so. But, before you stop paying your account, be sure you understand the potential implications.

Keep Your Credit Score Safe

Now may not be the time to be overly concerned about your credit score. However, there are several precautions you may take to ensure that it does not suffer too much damage.

To begin, strive to make at least the required minimum payments on your credit accounts by the due dates.

If your mortgage lender agrees to a deferment or forbearance of your loan payments, your payments should not be reported as late to the credit bureaus. According to Experian, one of the three major credit agencies, your lender can also give “a statement that states you have been affected by a natural or declared disaster, which can assist protect your credit history and credit scores.”