Short On Rent? Here’s How To Cope

*This is a collaborative post on how to cope when you’re short on rent

Saving money is hard in today’s economy, as more people than ever live paycheck to paycheck. From time to time you may find that this impacts your priority spending too, that is the mainline expenses you absolutely need to pay in order to stay above water and live with the utilities you need.

Unfortunately, this is not an uncommon feeling for many millions of people worldwide. It’s only when we’re in such a situation that we realise just how much we can take a solid income for granted, even if we work hard for it. Of course, it would be best if everyone’s basic needs were accounted for, but unfortunately, while we may live in that society one day, it’s not a current reality.

This isn’t to dismiss your feelings or to make you feel even worse, only to suggest that many people have been in your position before and come out of it. But if you’re going through hardship, and may have trouble paying your rent this month, there are a few things you could consider.

Let’s help you with that in mind:

Speak to your letting agency/ landlord immediately

The worst thing anyone can do when suffering financial difficulties is to bury their head in the sand and hope no one notices. They really do notice, and this in itself can be difficult for us to unravel after the fact. So, if it’s a couple of weeks before and you’re not sure if you’re going to have enough, call them. 

You can do this through a debt charity (more on that later), but speak about why you might struggle this month, what you’re doing about it, and when you believe you can pay. Some may be happy to extend your deadline a little to give you some breathing room, or perhaps ask you for two lots of rent this time next month to help you pull some cash together.

Contact a debt charity

It’s healthy to contact a debt charity, not because you want them to give you access to new forms of welfare, but because they know pretty much everything about how debt works, how people fall into it, how it can escalate, and the best methods you can use to try and mend your situation.

They don’t judge you at all either, and as financial difficulties can sometimes feel a touch embarrassing, it’s nice to talk to someone who doesn’t think less of you for it. But more than this, sometimes they can help contact other creditors for you, or perhaps help you consolidate other debts you have into one easy payment. They won’t magic wand everything but they can offer a lifeline, or even someone to talk to if needed.

Consider selling non-essentials

Some guides may recommend you take a payday loan or a similar short-term cash injection you can find, usually with terrible interest required or very strict overdue balance terms. But if you’re struggling right now, this is absolutely the last thing you should invest in.

For this reason, it’s much healthier to sell your non-essentials if you can. You might have to look for items of value and sell them online, or even head to tech stores that will buy your gadgets from you at less impressive prices. But if you have a good sound system, sometimes it’s best to part from that extra than get an eviction notice.

If you’re lucky, you may have some items you’re not using laying around. Maybe you have a good gaming keyboard and mouse from when you used to play video games more, or perhaps you can use a service to sell iPhone 14 Pro Max with ease. This gives you a quick payment and the chance to make up some of that overdue balance more easily. It also means you can get paid for value right now as opposed to having to deal with a loan or affect your credit rating in any way at all. It’s not easy to make this adjustment, but it really can make a big difference for you.

Prioritise your utility bills

One of the helpful measures a debt charity will keep in mind for you is that of bill prioritisation. In other words, you contact your service providers to see which may give you the most breathing room, and go from there. For example, perhaps you really do need to pay your rent on the 1st, but your internet provider and phone line will allow you to wait until the 15th without cutting off your service.

This means you can worry about those bills next, freeing up the cash you have right now for your rental payment. Rent tends to be at the top of the list because a warm room with a roof over your head and a fixed address is clearly essential. Of course, access to food and clean water is important, but it’s not uncommon for individuals to eat less fancy foods (such as rice, beans, cereals, etc) when they’re waiting for a next payday.

Consider cash-in-hand temp jobs

Some cash-in-hand jobs still exist. For instance, laboring in construction or in warehouses may give you a weekend of work you can use to put towards your essential bills, just make sure the outfit is above board and you don’t accept any job without vetting it. Safety standards are a must.

On top of this, you might work a part-time job in a supermarket or go online to freelance if you’re good at any form of creative pursuit. While this might not be a perfect immediate cash boost, it can help you if you set up profiles now and try to seek clients through your methodologies. Sometimes surveys are promised to help you earn cash but it’s best to avoid them – they take up time and pay very little. However, local focus groups for companies can pay a fair amount for a day of work, and they’ll ask you a great deal of questions to help their market researchers understand consumer preferences.

Keep in mind that the above advice should never be followed if the provider makes you feel unsafe or worried in any capacity. It’s hard out there, so don’t just take the first offer, and make sure the company has an official website with an appropriate security certificate and many authentic reviews before you work for them.

Put together a full personal financial audit

If you’ve been late for your rent once or perhaps a few times, that can be understood of course. There’s no judgment, a lot of people have struggled in recent years and for obvious reasons. Many more do than you even realise. But the truth is that not all landlords or property owners will allow us to stay there forever without paying on time. This means that if an eviction notice comes, it can really harm your plans and sense of stability.

We’re in no way suggesting you’re bad with money or don’t try your hardest, but sometimes it can be worth doing a very hard finances audit to see how you can readjust your financial planning. Maybe it could be that you sell one of your cars or downgrade your current one to a model cheaper to run. Perhaps you could even consider living back with a parent or friend if you find that living alone is no longer feasible. These little adjustments in life have to be made by everyone, and just because you’re not always growing in wealth doesn’t mean you’re failing in life. Understanding that can help you see a path forward without judging who you are.

With this advice, we hope you can more easily cope without self-deprication, even if you’re short on rent this month. We also have other financial guides, so be sure to search our website for more help.