How you can Pay your Bills on Time? – Paying your bills is important. When you take debt, you will have to return it in the future. What is important is returning the debt, or paying your bills on time.
Making payments late will not only cause you trouble financially, by affecting your credit score, increased interest rates, but it will also affect your relations socially, in case you are borrowing from an informal source of credit.
Plus, you must also expect a lot of calls from debt collection agencies. I am sure, the picture already sounds scary and you don’t want to experience it. So, without much ado, let’s dive straight in and suggest some tips on how to make payments on time!
Table of Contents
1. Draft a list
The first thing you need to do for making payments is to create a list of all your creditors, lenders, and sources you need to make payments to. Without a list, you are prone to having one or two falls in the crack and miss making payments to them. You definitely don’t want that. Plus, a list helps create a system for the entire process.
Every debtor, lender, and payment are important and must be paid on time, but making the list with a sense of urgency in mind, will help you clear payments in a more organized form.
2. Know when your payments are due (Exactly!)
It is very unlikely that all your payments are due on the first of every month. So rather than having all your due dates, all over the place, collect all your due bills and list them in the list you prepared.
3. Merge it with your calendar
More like a to-do list for making payments, adding payments to dates to your calendars will not only act as a reminder but will also help you stay prepared for the upcoming events in the future.
4. You don’t always have to pay in full
For some debts, especially credit card debts, create a plan in a manner that you don’t always bear the concern of paying in full. Of course, there will be a time you will have to clear the payment, but if you can’t afford it right now, part payments will reduce the pressure.
You can evaluate your finances, see your current situation, and meet the bare minimum, fulfill your liability and not add an added interest. Sometimes, the bare minimum is 1%, which is not so difficult to afford.
5. Automating payments
This eliminates the probability of forgetting payments. Allowing your creditors to debit the amount from your bank account straight is a good way to start. Also, you can specify whether they need to debit the full amount, or the minimum balance or somewhere in the middle.
Or, you can make the payment straight from your credit card, which again is very handy. But my suggestion is you must pick the credit card option, only when you are sure that you will be able to clear the amount soon enough.
6. Get Started with Deferit
Mostly all the points mentioned above were about you having the required finances to make the payment, but failing to make the payment due to a different reason. But that won’t always be the case.
Many people fail because of the fact that they don’t have the required finances, and it is quite painful. This is when I recommend people to sign up with Deferit, who will pay the bill on your behalf, and you can reimburse the payment to them later. They don’t charge any late fees or interest. You can explore more details on their website.
Over to you…
In the end, remember, making your payments on time is always a good thing. Being late once always increases the odds of being late the next time, and the next, and on and on. You don’t want that. So, if you can afford, never, I repeat NEVER delay your payments.