Reduce Late Payments
If you are like most Americans, you have several credit cards. On top of the
credit card accounts you probably have several utility bills, car payments, and
several other revolving accounts that you pay each month. One sure way to get
stuck in a debt circle is to forget a payment.
Sometimes the stress of
just having to pay the bills is too much to handle. Gathering everything
together then figuring how you are going to organize and pay them can be a
nightmare.
In order to stay on top of your credit card bills and be sure
your payments are going toward eliminating debt and building wealth for you
instead of the banks, you are going to need to create a system of staying on
time and up to date with your payments.
Several ways to accomplish this
are moving to an online billing format. You will be able to eliminate the snail
mail phenom of missing statements or late bills. Most creditors have online
account access and will be more than happy to move you to an online billing
statement.
Once you are getting your bills online, you will be able to
manage them easier than just having them all sit in a pile until payday.
With online billing you can then graduate to using an online bill pay
service. These services are free through most banks and non-bank services are
very minimal in cost. Sign up with this service and you not only will have the
ability to manage your bills but pay them as well with the click of a
mouse.
On some bills you can elect to have the bill paid automatically
through your bank account. This is very nice and convenient and eliminates ever
needing to rush a payment. The only drawback is that if you do not keep a
balance in your bank account you could be charged NSF fees if funds are not
available.
Get creative and above all things, file your bills and pay
them when they arrive if you are able. Pay more than the minimum payment and
get in touch with a wealth coach who can guide you in building wealth.