5 Tips to Pay Your Bills On Time!

by Karen on April 19, 2016

Pay Your Bills On TimeApril means tax season, and tax season means getting organized with your finances. But, how? If you’re prone to waiting until the last minute to pay your bills, then this post is for you! Paying bills on time is essential and it can also alleviate so much extra stress. Let’s take a look at some of the best tips and tricks to use for better bill payments.

First, know your habits.

Try tracking your spending for an entire week. As tempting as it may be to change some of your habits during this tracking time, don’t! You want your results to accurately show your spending habits so you can work from there on creating a budget. Maybe you’re doing better than you thought, or maybe you’re doing worse, but either way you need to know. Taking notes on your spending for one week is a great way to get started organizing.

Choose a payment method.

A great feature that you might not be taking advantage of is autopay, or recurring payments. Many banks and companies, for example Citizens Bank, Verizon and RCN, offer autopay features that you can sign up for in a few simple steps. This is one of the best ways to avoid paying your bills late, however, you have to always make sure that there is enough in your account to sustain autopayments.

Prepaying your bills is another option to consider. This is a great method for those of you who have an irregular income, if you tend to miss payments, or if you have some extra funds and want to get ahead of schedule. Paying ahead of time can give you a small breather before the next payments come due.

Get Organized

The moment you receive a bill, highlight or circle the due date and take note of it somewhere! If you don’t feel comfortable using autopay, try setting up email reminders or enter reminders on your phone calendar as well as a physical calendar. Writing out when bills are due will help you memorize the due dates or at least a general timeline of your billing cycle.

*Note: Try looking into consolidating your bills as well. If you’re getting an Internet, phone, and cable bill from the same provider, check to see if you can receive one monthly statement instead of three separate payments.

Budget, budget, budget!

We can’t emphasize the benefits of budgeting enough! If you’re trying to get out of debt or just trying to take control of your finances, you need to budget. The thought of putting together a budget may scare some people because it sounds like a daunting task. Keep in mind, you don’t have to budget for every little thing in life. If you drive a lot and there’s nothing you can do about it, don’t worry about budgeting for gas. Focus on things you have the most control over like groceries, eating out, entertainment, and shopping.

Find a rewards card.

Many banks offer credit cards with plans to earn money back — take advantage of these! For example, Chase has multiple credit cards with options to receive rewards at restaurants, cashback on every purchase, travel points, and more.  

There are so many ways to get your finances organized, and once you start you may find it’s not as scary as you thought!  

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