How to Pay Monthly Bills on Time

Paying your bills promptly will help you avoid late fees and interest charges. Follow these steps to ward off procrastination and keep your finances in good order.

Things You'll Need

• Calculators
• File Cabinets
• In Boxes
• Postage Stamps
• Calendars
• Envelopes
• File Folders

Instructions

1. Set aside a special place to put your bills when they arrive, such as a desk cubbyhole, a special section in a drawer or a bill inbox. As soon as you receive them, open your bills, then put them in this special place.

2. Set aside two times a month, two weeks apart, to pay bills. The middle and end of the month are good times.

3. Call the companies that send you bills and have them revise your payment due dates to correspond with one of the two times you plan to pay your bills each month.

4. Mark your calendar to remind you of bill-paying dates and to help you keep to your schedule.

5. Pay your bills with checks or money orders, then note the check number, the date and the amount paid on the receipt portion of each bill.

6. File these receipts away and keep them for seven years.

7. Place the envelopes containing your payments next to your keys so that you will remember to take them with you and mail them immediately.

Tips & Warnings

• Some credit card companies, mortgage lenders and automobile financing companies change due dates. Check the due dates for such bills when they arrive.

• Utility and phone companies are usually a little more flexible and will wait for a few days before they send you a reminder notice or charge you a late fee. Credit card companies, mortgage and automobile lenders, oil companies and landlords are stricter.

• Many banks allow you to arrange for automatic bill payment from your checking account.