Many problems or projects in your personal and professional life may demand your attention. On a sufficiently busy schedule, you could therefore find yourself opting to pay your bills ‘just a bit later’. While a late payment in itself isn’t a big deal, making a habit of late or missed repayments can cause a lot of damage on your credit score. This means that you have to pay huge amount of interest any time you request for a loan. Paying your bills on time is therefore a sure way of saving your money and keeping yourself clear of bad credit. Here are some tips to help you pay your bills promptly.
Organize your bills.
Choose a good spot to keep your bills once you receive them. Pick a safe place that is inaccessible to unauthorised people or children. However, make sure that you can easily remember their location when the time comes. This will allow you to keep track of your bills and avoid misplacement. Remember to arrange them chronologically and in terms of relevance. Doing so is a sure way of helping you clear the most important bills and those closest to their due quickly.
Scrutinize your bills before paying.
Whenever you receive your bills, always cross-check them with previous payments and statements for mistakes. Alternatively, set aside some time during the month to go over your bills. Look for any unprecedented rises and falls in the amount payable. Contact the companies or lenders involved to correct the mistake so that you can avoid paying for incorrect charges.
Choose a good payment method.
There are many methods you can use to pay your bills. Direct debit and online banking offer efficient means of paying your bills on time. Direct debit allows you to pay your bills automatically, and many lenders offer discounts when you choose this option. Online banking allows for reliable banking with convenient online reminders of when your bills are due.
Ensure you leave enough money to clear bills.
When saving for or buying large purchases such as houses, many people often forget about their bills only to receive a rude reminder when they are due. Before planning on any other purchases, set aside enough money to clear your outstanding bills. If you are unable to do this, at least ensure you always have enough to take care of the most immediate bills as you give yourself time to pay the others
Adjust your due dates.
Having all your bills come in around the same time could make them much harder to pay. Some accounts allow you to choose the most convenient time for payments. If given the option, try to have you bills arrive as the month begins when your financial reserves are still robust. Alternatively, you could spread them across varying dates in the month to even out the burden.