9/12/2023 0 Comments Bills you have to pay monthlyAs long as you have sufficient funds in your bank account, your monthly payments will reach your creditors on or before your scheduled date due.įind Out: Budgeting 101: How To Create a Budget You Can Live With 2. Putting your credit card payments on autopay solves this problem. And if you completely forget about a bill and your payment becomes at least 30 days past due, your creditor might report the late payment to the credit bureaus. Paying a credit card bill late can result in late fees of as much as $25 to $38, depending on your credit card company. But if you only pay the minimum, setting up automatic payments can ensure timely arrivals. Ideally, you should pay off your balances every month to avoid debt and maintain a low credit utilization ratio. If you use multiple credit cards and carry balances from month to month, you’ll receive statements every month notifying you of your due dates and minimum payments. Here’s a look at 10 bills you should put on autopay so you never pay another late fee. Simply select a day of the month to have payments drafted from your account, and you’ll no longer worry about late payments. But if you’re busy and constantly losing track of due dates, this could be your answer. Granted, automation isn’t for everyone, particularly people who don’t want to give others access to their credit cards or bank accounts. These situations, however, are avoidable with automatic payments. Paying a bill late, or forgetting to pay it completely, can have serious consequences, such as late fees and a damaged credit score. Penny Pinching: 17 Surprising Ways Penny-Pinching Costs You More And when you have too many obligations but not enough hours in the day, some tasks - like paying a bill on time - fall through the cracks.įind Out: 37 Life Hacks That Will Save You Money If you’re a busy person, you know your life can move a mile a minute.
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