No one enjoys paying bills, but avoiding them only leads to bigger issues; namely, late fees which makes addressing bills even worse. Paying more of your hard earned money never feels good, particularly in easily avoidable scenarios. Establishing healthy financial habits is very important, especially when it comes to bills. Leaving bills at the bottom of your to do list, procrastination and the like are poor habits, they simply lead to additional needless loss due to mismanagement. Pesky late fees creep up in every industry whether it’s utilities, internet, cable, cell phone, credit card or others, take these tips and avoid paying extra money for the same service.
The simplest solution to avoid late payments is to arrange to pay your bills automatically. Most providers have the functionality for automatic payments, in fact many companies reward customers with discounts to go paperless and activate autopay. On setup you can select the day of the month you want to make the payment from your bank account to assure its after payday. While exceptionally convenient, automatic payments have some downside. One issue is that you may miss the opportunity to review the bill before paying. Furthermore, not all companies allow for automatic payments so you need a system to differentiate between the auto payments and the bills you need to track and pay yourself.
An obvious reason people neglect their bills is because they are not on the top of your mind and are easy to forget about. Don’t just rely on your memory, set reminders for paying the bills. The pay by date is generally the same month to month, in today’s world of smartphones you are already walking around with a personal assistant in your pocket. Use this wonderful tool, set a reminder in your calendar. Set your phone to send you a notification a week, three days and one day before the bill is due to ensure it is paid. Setting multiple reminders allows you some leeway to be sure the bills are taken care of.
Pay what you can
A lot of bills arrive with little helpful details. One is the pay by date to give some flexibility but another crucial detail is the minimum required payment by that date. Cash can be tight, often you can split your bill payments incrementally to ease the financial burden. Your financial situation may be the reason you are avoiding the bills in the first place. If this is the case, at least make sure to pay the minimum payment and make sure you avoid late fees which only increases financial stress.
Many companies are willing to waive late fees if you can show that paying late is out of the ordinary. If you do not get charged and subsequently pay late fees on a regular basis, speak to the company and explain why this is a one-off situation. Even if it happens from time to time providers often find leeway if you ask nicely, and have been a long-time loyal customer.
Bills may not be the top of your priority list – I know they’re not at the top of mine. However, neglected bills return with a vengeance. Late fees are a completely avoidable expense with absolutely no way to benefit. It is quite literally a waste of your money. At EZsave we prioritize ensuring that you keep as much of your money as possible. We strive to make the pesky bills a little less annoying. Try out some of these tips so that if you’ve recently paid a late fee, it will be the last one you ever pay. You deserve to keep your money for what really matters.