How to Pay your Bills on Time

One step to improve your FICO score and credit is to pay your bills on time.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Income
• New bank account
• Money program

1. Set up a new bank account. This account willl be solely for your major bills
   Rent/Mortgage
   Car note
   Car Insurance
   Utilities
   Credit Accounts
   
   *basically this is for your core major bills. Rule of Thumb- if it's reported on your credit report it goes into this account! Dont' include money for fuel, groceries, storage etc. this will still come from your other account

2. Arrange for payments to fall at least a day or two after your pay dates.
   Most credit companies will re arrange your due dates to coincide with your pay dates. This way they know they'll most likely get paid on time!

3. Use a money tracking account to track your de dates and pay dates...This way you know what's getting paid and what's coming up.
   Check this every day.

Tips & Warnings

• You have to be fanatical about tracking our money and paying your bills
• If you don't get a handle on your bills now, it can harm you for years!

[Rosalind42]

on 9/11/2008 Thanks for this article I am working on cleaning up my debt now and this plan seems like a very good idea.

[Addonis]

on 7/25/2008 this looks like a plan that will work for me. 5 stars

[Adrie]

on 7/19/2008 I'm always looking to streamline my financial routine, thanks for the advice!