For most of us, paying bills is one of the irritating but important responsibilities we must face monthly. The problem is that we live such busy lives that sometimes we forget to pay bills, and that can lead to costly penalties, interest, and even prosecution if you miss mortgage, credit card, or medical bill repayments on a repeated basis.
If you find that you’re a little forgetful, then keep reading as we are sharing some helpful tips to help you always pay your bills on time.
Set Up Automate Debits
Automates debits, also known as scheduled payments, are a great way to make sure your bills are paid on time without having to go in and make the payment yourself. All you must do is make sure you keep an adequate amount of money in your checking account because the money will be deducted each month on the same day. Most banks or stores that let you buy on credit have this as a payment option. Setting up the automate debits is simple. All you must do is log into your online account for the billing company, set up the date you want the money to be withdrawn, and enter your bank details. By doing this you are guaranteeing that you will never be hit with a late penalty again.
Put a Reminder on Your Phone
Most phones now include a calendar and alarm clock with a reminder function that you can use to set reminders. If you forget to pay bills, or the dates when payments are due, store them in your phone’s calendar and set reminders. That way, you’ll get a notification anytime money’s due. If you bank has an app, or you have the option to bank online, then make the payments as soon as the reminder goes off.
Pay All Your Bills at Once on a Specific Day
In general, bills are due monthly, and the date the money’s due doesn’t change. This means that you can plan your calendar around that debt. Set aside one day a month to pay all your bills and it will be out of your way. The ideal day is the first Saturday after your paycheck clears, but remember that some banks and payments might be affected because payments aren’t processed outside of working hours.
Get into a Healthy Payment Habit
Like most things, the best way to make sure that you always pay your bills on time is to get into the habit of paying them on time. Schedule payments whenever possible, ask your friends and family to remind you, and use your calendar or phone for reminders and you’ll find that you get into the rhythm of paying bills on time, which means no more penalties and unnecessary interest.