5 Easy Ways to Help You Pay Your Bills On Time
Paying your bills on time is an important step in preserving your credit rating and avoiding unnecessary fees. In prior years, we used to all receive bills in the mail that we could pay and mail out promptly in a pre-paid envelope. These days, many bills are paid via the Internet through online bill pay services, and although these electronic means of payment can be convenient, they may also make it more difficult to track down or remember bill payment dates. Here are 5 easy ways to help you pay your bills on time.
Pay On The Same Date Every Month
One of the benefits of electronic bill-pay is that you can often choose the dates when you want to pay your bill. If you pay the same bills on the same date every month, you are more likely to remember that you have a bill to pay on a certain date. Repetitive practice is always a good way to enhance memory.
Use Automatic Bill Payment
With most bills that you pay electronically, you can have your financial services firm send your payment automatically every month. This is helpful because you don't have to remember the actual due date of your bill, as the payment is sent whether you remember it or not. Be careful that you always have enough money to pay your bills in your bill payment account or you may face overdraft fees.
Online Calendar Reminders
Most online calendars have the ability to send you notices of important upcoming dates. Notices can typically come via text message or email, and you can customize the frequency and timing of your reminder messages. For example, Google Calendar allows you to set up reminders of any kind for future dates and allows you to repeat those reminders at set intervals, such as monthly.
Have Your Creditor Send Reminders
Most people and institutions that you owe money to want to get paid. To help you remember that you owe them a payment, most vendors or creditors will happily send you reminders about the amount the time that your payment is due. For example, if you have a credit card, you can typically log in to your online account and set up reminders about upcoming payment dates. The IRS payment service known as Official Payments can also set up reminders about upcoming tax due dates.
Get Paper Statements
If you tend to lose track of your bill payment dates if you pay electronically, you can still request a paper bill from your vendors or creditors. If you tuck your bills away in a file somewhere, you may still forget your bill payment date, so the best practice if you receive paper bills is to make the payment as soon as you receive the bill. Realize that some institutions may charge you an additional fee to send out paper statements.
