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How to Pay Your Bills on Time Each Month

April 3rd, 2010

pay-bills-online.jpgBills can stack up and if you miss a little work or have something unexpected come up, it can be scary. Missing just one payment may tack on late fees that you can’t afford. This could, in turn, create more late fees and you may begin paying late on a bill each month, giving yourself a bad record with that company.

For some people, direct payment seems scary and they often shy away from this because they want to make the decision to pay their bills. It seems kind of silly when you think about it, because if you want a service or product, you pretty much have to pay for it, so if the money is there, you should be paying your bills on time. What people are afraid of is that they will be short one month and that their money will automatically go towards the phone or utility bill when they need it for rent or their mortgage payment.

The biggest point is to stay well-organized in order to pay your bills. Sit down with the stack of bills and make note on a calendar or on a list (in a notebook) of what bills are due each month and what day. Write down either the exact amount that is due or at least a reasonable estimate of the anticipated amount. Write down figures for how much you will need to spend on things like gas to get to work, groceries, and other life necessities. Write down when you get paid and how much. Compare these figures to your output.

If you make enough money, great! It’s just about managing the money as it comes in and applying it to bills and necessities wisely. If you get paid every week, figure out how much money you need to put aside for gas and food and how much money you need to put aside for other bills each week. This will tell you how much money you should pull out from your paycheck and how much money you can put into savings or other investments.

If possible, put money away for bills ahead of time. For example, if your mortgage is $840 a month, you’ll need to pay approximately $210 into your mortgage payment fund per week in order to make the payment on time each month. Whenever possible, have your funds ready before you get too close to the due date and make sure to pay your bills on time in order to avoid being cut off or getting tagged with annoying late fees.


This article was supplied by Beth Lytle from Constant Content.


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