Forgetting to pay a bill isn't a sign you're a slacker - you may just have too much on your plate to remember the due date of every single payment you have. Try batching your bills to get them paid on time.
Photo by Abhi.
Personal improvement blogger Chett says even though he had the cash to pay his bills, sitting down every few days to pay bills with due dates spread out across the month was a major pain in the neck. One day, he had an epiphany and came up with a simple solution: Move all your bill due dates to the same time of the month.
We called each one of the companies that we make payments to, i.e. utility companies, phone companies, mortgage, insurance, etc. and ask that the payment dates be changed to dates between the 21st and 26th of each month. Every company was willing to accommodate our request. In the future we will sit down to pay bills once each month. When we finish we will immediately know what residual income is left over and can make plans accordingly. This process should also make debt reduction easier as you can immediately see how much extra you can apply to your smallest payoff to eliminate that debt.
Chett's idea is perfect for people who, despite the best of intentions, struggle to find time to get bills paid on time. If our past tips on paying your bills on autopilot didn't cut it for you, give this option a try.
How do you stay on top of your bill-paying schedule? Share your tips in the comments.
Batching Your Bills [via My5k5k.org]