How to Pay Monthly Bills on Time

Series Summary

Personal finance is the application of financial principles to the monetary decisions of an individual or family unit. It addresses the ways in which individuals or families obtain, budget, save and spend monetary resources over time while taking various financial risks and future life events into account. Components of personal finance might include checking and savings accounts, credit cards and consumer loans, investments in the stock market, retirement plans, social security benefits, insurance policies and income tax management. In this free video series on personal finance, a registered financial consultant discusses managing money. Find out how to save money on a daily basis by turning off the lights, buying generic brand foods and living frugally. Discover the benefits of having good credit, and get tips on building up credit scores. Understand a few ways to invest money wisely, and build up a nest egg in case of emergencies. Save money more efficiently with this financial guide.

Video Transcript

"This is financial adviser Patrick Munro talking about how to pay monthly bills on time. Well the way to pay monthly bills on time is to pay monthly bills on time. Make a conscious decision to do so. The best way to do so, we're never perfect as human beings, is to have a system. And the system I use is a manual folio that has thirty one day tabs in it. So if a check is due on the twentieth of the month I put that bill under the tenth of the month. Which allows me to pay the bill on the tenth write the check for it and then mail it and it certainly is going to arrive by the twentieth. If I mail it that day. If you have a system set up like this, it's pretty difficult not to pay your bills on time. And when you do pay your bills on time you end up having a better credit report going forward. It's very, very important to have a good credit report and not paying your bills on time will definitely impede your goals in that particular venture. This is Patrick Munro talking about how to pay your bills on time."