Did you know that credit card companies make more money from late fees than they make from those very high interest rates? Banks rely on late fees for revenue; let them rely on someones tardiness – not yours. Check out these tips and save some real money.
1 – Make a Calendar
A particular bill is usually due about the same time each month. Write down all your bills on a calendar that you’ll see on regular basis. The calendar will serve as a reminder of what’s due and when. You’ll never forget to pay a bill again.
2 – Set aside one day a week to pay your bills
Pick a day to sit down each week and pay all the bills that are due in 7-14 days. The bills that are due in 0-7 days will have been paid last week. This way the speed of the mail is never an issue, and you have time to deal with any unexpected challenges.
3 – Go electronic
Paying bills online is faster and easier. Once everything is set up, you’ll just need to enter the amount and click ‘send’. You can even set everything up on your bank’s website and pay all your bills at once; all your bills from one website. Now that’s fast and easy.
4 – Consider automatic payments
Many bills can be set up to automatically debit your checking account. You’ll never be late, provided you always have sufficient funds in your bank account. The overdraft fees can really get you if you’re not careful, so make a note of the date your payment will come through and ensure your bank account has the funds to pay the bill.
5 – Reward yourself
Changing habits can be challenging. Promise you’ll do something special for yourself each month you pay all your bills on time. A little reward can really help to reinforce a new habit.
Paying your bills on time will save money and allow you to feel a great sense of control over your life. Chronically being late is usually just the result of a few bad habits. No one enjoys paying bills, but the tips above will make the process as fast and easy as possible. Never be late again and save some real money.
