How To Manage Your Bills Better: Paying Bills on Time


Are you overwhelmed with the number of bills you have to pay? Some are time-sensitive and missed payment can either lead to cutting off their services, or incurring late payment fees and interests. In order to avoid these, here are some tips on how you can manage your bills better so that you can pay on time:

Identify all your bills

The very first step in managing your bills is identifying all of your obligations. Make a list of all your bills such as utilities, credit cards, rent, amortization for loan, and other subscriptions with monthly payments.

You may use one of the many available apps, or you may go with a spreadsheet or even manually write in a notebook for the list you will make. List your obligations including due dates, amount, and whether you can pay them through credit card, over-the-counter, or through dedicated bills payment services. Keep your list in one place so you can easily monitor all your obligations.

Review your list

Listing all your bills gives you the opportunity to organize and prioritize.  Looking at all your obligations, you can check which one may be cancelled, which one is about to end, and which ones are essential. Reviewing your list allows you to re-assess your obligations against your financial situation, giving you a chance to recalibrate if needed.

Review your billing statements

Make it a habit to check your billing statements before making a payment. You want to make sure that you are paying for the right amount. Compare the current statement with the previous one and check for sudden spikes or dips. Try to identify the cause of those variances and ask for reversals if needed. Reviewing your billing statements can also help you identify average spending so you can allocate a budget from your income.

Set a reminder for due dates

This is one of the most important activities in bills management – taking note of your due dates. Service providers give you some time to pay your dues upon receipt of the billing statement. It is best to plot the payment dates, amount (fixed or average), for the whole year if possible. Calendar apps or even dedicated budget apps can help remind us of when we need to pay.

Leverage on Grace Periods

Sometimes, there are emergency situations that will compel you to push back on certain bills payment on account of unexpected expenses. Some obligations have grace periods, or a time allowance even after the typical due date. Such grace periods can help you breathe in times of financial constraints so use them well.

Explore different payment channels

There are a lot of channels for paying your bills whether online or offline. There are different service offerings that go with the different payment channels, and some even have promotional offers that you can take advantage of.

Keep in mind that some bills payment services have additional fees, and not all are posted real-time. Take note of these things when looking for which payment channel is the best for you.

Manage your bills better and pay on time with these tips

By being able to manage your bills properly, you are more likely to be able to pay on time all of the time.  And being able to pay on time will give you a sense of fulfillment that you are doing well financially, shielding you from the stress that one who is not organized with his or her bills face on a regular basis.

True enough, bill management is very important. It’s cost-efficient, as it protects you from late payment fees and interest charges; and time-efficient, as you can easily do the tasks related to settling our obligations. So follow the tips above and manage your bills and your finances better.


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Founded in 1994 by the late Pamela Hulse Andrews, Cascade Business News (CBN) became Central Oregon’s premier business publication. •

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