How Not to Get Behind on My Bills
Not getting behind on your bills is sometimes a lot easier said than done - but it can be done with the right planning. Find out how not to get behind on your bills with help from a certified financial planner TM professional with over a decade of experience in wealth management in this free video clip.
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Hi, I'm Samantha Fraelich and I'm a Certified Financial Planner Practitioner. I'm here today to help give you some ideas on how not to get behind on your bills. Many of us don't get behind on our bills because we can't afford to pay them. We get behind on our bills because we don't have an organized system. Do yourself a favor and setup a discipline system. Coordinate what days you get paid with what days your bills are due and the day after you get paid, sit down, write those checks out and mail them off. Even if they get there early, that's okay. It's much better than being late. If you have a bank that offers online bill payment, go online. You can set it up to go once a month or twice a month, however often you'd like or you can set a reminder to help you go online and pay them after you get paid. If you use Outlook at work, there's a function in Outlook called tasks. Set a task for whatever day and time you choose and it will pop up in the middle of what you're doing and remind you to pay certain bill. If you do find that you're getting behind on your bills, call whatever vendor you owe money to and see if they'll negotiate with you. After the 2008 credit crisis, many people aren't paying their bills at all. If you contact the vendor and tell them a certain dollar amount or percentage of the outstanding debt that you can afford to pay them every month, you'd be surprised how many are at least willing to negotiate so that they know they're going to get something from you and you're making an effort. This may not be true with everyone, but it's at least worth a phone call. If you have many credit card bills that you're trying to pay every month, pay the most expensive debt first. Many of us try to pay the bills that's the largest, however, if that rate's lower than a rate that you might have a lower outstanding balance on, it makes more sense to payoff your most expensive debt first. Any kind of discipline system you can come up with, even if it's post-its, just to help remind you when to pay those bills, do something for yourselves. Again, I'm Samantha Fraelich, and I hope this helps you get your bills organized.