If you are tired of incurring late fees on bills, these tips on how to always pay bills on time are for you.
For many years I lived in the constant cycle of “stealing from Peter to pay Paul”; that is I was always rearranging my bill paying to pay bills just in time or pay just a bit late and took the small late fees this imposed on me. Then one month I decided to look at how much I was actually paying in late fees and I was astonished to find out I was paying around $100 a month! I needed to do something fast to change this! After doing some things in my life to change the way I pay bills, here are my tips on how to always pay bills on time.
How to Always Pay Bills on Time
Set up auto bill pay online – If you can, set up automatic payments to come directly out of your account on set days with your debit accounts. This will make it so you don’t have to remember to manually do it on a certain day. Just make sure you have enough in your bank account or you could incur fees. You can also set up bill pay with your bank on their app or website. Most banks offer it these days.
Split bills into two payments each month – If the bills you pay are too much for you in one paycheck and you get paid bi-weekly, find out if you can make two payments so you can split the cost. Most debtors will be happy to accommodate this request and with certain cases, this can actually help you save money in the long run with interest rates such is the case with credit card debt.
Ask if you can adjust your due dates – You may not be aware, but many places you owe money to may be willing to set up different due date if you just ask. This way, you can choose one that makes more sense for you so bills aren’t due 1 day before you actually get paid. It also will mean you can spread out your payments throughout the month so you can make it more financially manageable.
Appoint one person to pay the bills – One problem we were running into is we would go through the month thinking a certain bill was going to be paid by the other one and then it wouldn’t get paid or would be paid late. Instead of this, we have one person who handles all the bill paying (myself in our case) so they can keep it better organized.
Utilize apps for your phone – There are many apps on your phone that help you with budgeting.These apps often can help you pay your bills on time by setting up reminders or even by setting up payments directly for you. These can be amazing for taking off some of the pressure.