Timing is everything when it comes to paying your bills and like the old cliché time is money. This is literally the case because your money could be earning you interest when you leave it in your account. That said you also don’t want to pay late and run the risk of a bad credit record. The trick is to pay ON TIME.
Here are some tips for staying on top of payments
Organise your bills
Keep a file on your computer, most of the bills get send electronically these days and that makes it easier to quickly add them to a folder on your computer. If you still get your bills posted in the mail, find out if the company has an electronic version you can sign up for.
Keep a Payment Calendar
Keep a calendar of your bills due dates and set reminders of what needs paying when. We all have busy schedules and a payment can easily slip your mind.
Find an Easy Payment Method
Whether you prefer internet banking or cellphone banking it doesn’t make a difference, the most important thing is to find a method that is easy and convenient so that you can pay at the right time.
Accountants Pro Tip: Stagger your spending. The aim is to have as much money as possible earning interest in your account. Interest gets paid into your account monthly, but it’s calculated daily so the more you have in your account each day, the better.