CreditCards.com –If you’re married and find yourself temporarily unable to handle your finances due to illness or other unforeseen circumstances, your spouse would likely step in and pay the bills. But what happens if you’re single? Without a plan, you could miss bill payments, wreak havoc on your credit score and find yourself in a financial bind.
Consider a professional – Some people would rather not put their finances in the hands of family or friends. In that case, you can hire a daily money manager to step in and take care of your bills, says Smith, who is president of the American Association of Daily Money Managers. You can even engage their services in advance, creating what Smith calls a “pre-made arrangement” so the money manager will know what to do if you need them in the future.
Read the article Tips for creating a financial backup plan for singles at CreditCards.com
