How To Break The Bad Habit Of Paying Bills Late
Are you one of those people who habitually pay bills late? Do you procrastinate even when you have the money because you simply forget or think of it as a hassle?
On-time bill payments demonstrate financial responsibility and help you avoid late fees and credit score damage. Also, late payment of bills can lead to late fees and can cause a hit on your credit score.
If you are someone who always ends up paying bills late or know someone who does this and is looking for late payment solutions, you have come to the right place. In this article, we will discuss financial solutions and budgeting that can help you avoid late fees and bad credit.
Ways To Change Your Bill Paying Habits And Get Them Paid On Time
Set Up Auto Pay
Most of the time, bills that need to be paid regularly give you the option of the money being deducted from your bank account directly and going into their fund. By automizing the process monthly, you do not need to worry about paying bills late. Your bills will be automatically deducted from your account on their due dates. The only thing you’ll need to do is to make sure sufficient funds are in your account at the time of withdrawal.
Use Payment Reminders
Another way you can remember to pay bills is by marking the dates that the bills need to be paid on your calendars. If it is a physical calendar, make sure you put it somewhere it will be visible.
If you plan on using a digital calendar, set up an alarm with it. If you start scheduling your bills this way, then you will slowly develop the habit of paying bills on time.
Create A Bill Paying Station
A reason why a lot of people forget to pay bills on time is that when they receive bills, they absent-mindedly put them in their bags, on the kitchen counter, or in another similar place. This is why you should make a bill-paying station in your house, where you keep all of your pending dues and set it up with everything you might need to pay the bill.
If you pay bills online, then set up a computer over there and make sure the place has internet access. This way, every time you pass this area in your house, you will be reminded to pay your bills. Other than that, this would help you organize all your bills and keep track of whatever you have paid.
The more organized you are, the less likely you are to pay bills late. If you need help, try using apps like Mint, Prism, or Google Calendar to promote on-time bills payments and track your expenses.
Understand Your Bills and Due Dates
One smart way to find late payment solutions is by sorting out your bills and reviewing them. When you look at the bills you received in the past few months, you will realize that they are divided into two due dates. These would either be at the start of the month or the end. This can help you figure out how to divide your paycheck.
Budget and Allocate Funds
As soon as you receive your payment, you can estimate how many bills you would need to pay at the end of the month and set an amount aside for that. Better bill management would improve your efficiency in making timely payments. Only when you gauge the kind of expense coming up can you make adequate allotments.
When You Can’t Pay Bills on Time: Get Emergency Loans
If you find yourself paying bills late because you do not have adequate financial resources or are running short of money in a particular month, you can always take a title loan or an installment loan.
Title loans are secured short-term loans that require you to provide collateral in the form of your lien-free vehicle title to secure the money you borrow, while installment loans are unsecured loans that do not require collateral to borrow money.
What loan you apply for will depend on need and eligibility. For instance, a title loan can provide larger sums of money and does not typically include a credit check, but you risk losing your vehicle if you default on the loan. An installment loan offers smaller loan amounts, and while it does not require an asset to secure loan money, it does require a credit check for approval.
Remember, both loan options should only be used in emergencies and as a last resort option to avoid further debt.
Explore Installment Payments
Sometimes you are forced to pay bills late because you might not have the finances available to pay them on time. A solution to these poor financial habits and circumstances is paying the bill in installments. This is especially helpful when you have to pay a large amount of money together.
Installment billing allows the customers to pay in segments, instead of taking the entire amount at once. The total amount of money is divided equally throughout the period.
Moreover, many banks and loan companies even offer installment loans that can help you pay. These loans have flexible terms, and with easy access to the emergency cash you need. If you want to apply for an installment loan with us, just fill out our application on the Wisconsin Auto Title Loans, Inc. website, and we will get back to you with details.
The requirements you'll need to apply for installment loans:
- Your driver’s license (or a valid state I.D.)
- A checking account statement that’s open in your name
- Proof of Income (your most recent pay stub)
Consider Title Loans
At Wisconsin Auto Title Loans, Inc., we also offer fast emergency cash with our car title loan option. The process for getting the title loan is easy. You just have to fill out our online form on our website, and then one of our representatives will call you and arrange a meeting with you to inspect your vehicle. If you qualify, you receive the loan on the same day or the next business day. Not only do we offer quick service, but we also accept applications from all credit backgrounds.
To qualify for car title loans, you’ll need to provide the following required item:
- Driver's license or state-issued I.D.
- Lien-free car title in your name
- Your vehicle for inspection
Get Started Today!
Everyone needs to develop good financial habits to pay bills on time since it is an integral part of adult life. The above-mentioned ways are a good way to start. However, the most important step is trying to make a habit of it.
Need help? If the lack of finance is your reason for paying bills late, then you always have the option of getting a title loan or an installment loan from us. We can help you bring the financial part of your life into order. Reach out through our quick online inquiry form and take the first step in reducing your financial stress.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.