Hey, while it harbors today, we’ll go over how to pay your bills on time. People miss monthly due dates for all sorts of reasons from everyday distractions to identity theft, but the issue ultimately boils down to a couple of things, forgetfulness, and cashflow. So here are six tips to avoid both of those things. Number one is to set up an online account with each biller. Paying monthly bills online might seem like a hassle or these days even like a risk, but it actually helps you save time rather than mailing paper checks each month for instance, and you can easily get real-time updates about due dates, balances, anything you want to know about that account. The second thing you’ll want to do is set up automatic payments for at least the minimum amount for each bill. Establishing these automatic monthly payments from a deposit account such as a checking account or a prepaid card.
We’ll take forgetfulness out of this late payment equation and it’s very easy to do. Of course, the risk here is not having enough cash in your deposit account for the automatic withdrawal to be processed when your payment comes due. And that brings me to my next tip. Third, you want to coordinate due dates. Most lenders now allow customers to request a different monthly due date from the one that they’re provided by default. So this could be like switching from the first of the month to the 15th for instance, setting up your accounts so that all of your bills are due on or around the same day would actually make it easier to at least remember when to pay them, but that might also make them more difficult to afford since they’ll essentially be due all at once and having your bills due a few days after your paycheck clears, on the other hand, would minimize the risk of insufficient funds. So just keep those things in mind if you are changing your due date. Fourth, take advantage of customized account reminders. Regardless of whether you set up automatic monthly payments or not. Getting these notifications about upcoming bills can be super helpful. These alerts can be reminders to just review your monthly statements for accuracy just to make sure everything’s correct or to make sure that you do have enough funds in your deposit account to cover everything due to all of your pending bills at once
and it’s pretty easy to set these up. You should be able to set notification preferences through each of your online accounts that we talked about in step one fifth, pay credit card bills early and often there’s no rule against paying your credit card bill more than once per month. That can help improve your credit even faster.
and keep in mind here that if you do set up these automatic payments, some credit card companies will still process the full amount of any of those automatic payments that are scheduled if you make an extra payment any other time during the month or in between. And finally, my last trip here, and this is a hard one, but if you’re experiencing some short term financial problems, figuring out a way to somehow pay your bills on time is going to be worth the temporary discomfort in the long run. If you have to borrow money from someone, etc. Ms due dates can throw you into an expensive cycle of interest charges, late fees, and credit score damage. So being resourceful can pay off when it comes to paying your bills on time and it will help your credit in the long run. You can find out even more about how to pay your bills on time by going to this link.