Creative Ways of Paying All Your Bills On Time

Nobody looks forward to the day the bills come through. With the ever-increasing prices and higher interest fees, just thinking about paying the bills can strike fear into many people. 

Getting a short-term loan can be a simple solution to a one-off problem. But this is not the answer to continual late payments and ongoing bills. 

Learning vital budgeting skills and figuring out great ways to pay your bills will help you keep your finances in check. When you budget your money effectively, you won’t need to worry about billing day. 

Budgeting is easier said than done, but it doesn’t need to be complicated. Here are some simple and creative ways to help you pay your bills on time. 

Set Up Direct Debits 

When life gets busy, it’s easy to forget about paying your bills. The days go by, and before you know it, your payment is late. 

Setting up direct debits for each of your ongoing bills removes the need for you to remember every single bill. It can prevent you from making late payments by automating everything. 

Direct debits can often be the cheapest option too. Many companies provide slight discounts or lower interest rates when you set up a direct debit, so you could be saving some extra money by taking this step. 

You will need to make sure that there is enough money in your account each month for the direct debit to go through successfully. If it doesn’t go through, the money you owe may be added to next month’s bill, and you might need to be charged extra for the late payment. 

Paying your bills via direct debit also lowers the substantial price increases during winter. The price that you pay each month doesn’t change, whether you have your heating on all month or not. This makes budgeting much easier for you. 

Pay Off the Highest Interest Rates First 

Aside from the relief that can be provided by paying your highest debts off first, there are other benefits to doing so. Prioritizing your highest interest rate can save you money in the long run. 

The highest interest rates increase the fastest over time. So, the longer you wait to pay these off, the longer you’re in debt, and the more you will pay. 

If your final goal is to pay off all of your debts, it makes sense to focus on the higher interest rates first and foremost. Organize your bills in such a way that enables you to get rid of those big loans first. Then you can move on to the smaller payments. 

Some banks offer lower interest rates if you repay your debts within a certain amount of time. Get in touch with your loan company to see whether this is something that they offer. 

Take a Look at Finance Apps 

There’s are several great finance apps that can help you to organize your money and get your finances in check. They’re a great way to ensure you keep track of your bills and pay them all on time. 

Finance and budgeting apps help you track your interest rates, credit card loans, income, and expenses. You can also set them to alert you when the amount of money in your account dips below a certain threshold. This can be extremely helpful to ensure you always have enough to pay your bills each month. 

You might need to try a few different apps to see which ones work the best for you. Each app has a unique interface and user experience, so you’ll need to do some trial and error before you stick to one app. 

Also, make sure to take prices into account. Some apps are cheaper than others, and some may charge extra for you to unlock certain features. 

Open Your Bills Straight Away 

Nobody wants to open up the bills and see how much they need to pay. As a result, many of us delay opening the letter or reading the email that has been sent by the bank or energy company. We’d instead get on with our lives pretending that the bills don’t exist. 

Whether you open your bills straight away or you leave them until the due date, you’re still going to have to pay the same amount. So, why not get it out of the way as soon as possible? 

Understandably, you might be waiting for your payday to pay off your incoming bills. However, opening up your bills (even if you don’t pay them immediately) means that you can adjust your spending if necessary before you sort out your bills. 

Opening up the bills early also means you can spot any changes in the future billing process, or you can see if there are any outstanding payments that you owe from previous months. If the bank has added interest to a late payment, the amount you owe will only increase the longer you delay opening your bills. 

Create folders in your inbox to place all of your unpaid and paid digital bills. Place all of your paper bills in a folder or letter organizer on your desk to not lose any of them. Organize them in order of due date or highest interest rates, so you know which ones to pay first.