The Best Way to Pay Bills 

Perhaps you didn’t have the best role models when you were growing up, in terms of paying bills, and in a timely fashion. Indeed, meeting your monthly obligations is a habit as well as a skill, since there are various means of doing so, some more suitable than others. With that in mind, here is the best way to pay bills — and what you can do if you’re finding it all challenging.

Find Out How Much You Owe

Do you even know what your debt load is? If not, it’s time to get organized. Pull out those bills and bank statements and list your accounts, balances, and interest rates, plus creditor contact information in case you need to reach out.

In fact, it’s a good idea to get a special folder for your bills, so that you can keep track of when they must be paid. If your bills arrive digitally, you can always keep them in a computerized file.

Select the Best Payment Method for You

Ultimately, the best way to pay your bills is whatever results in consistently timely submissions. On paper, though, bill paying is best handled online with automatic monthly payments derived from your checking account. Handling your bills this way basically ensures that you won’t miss a payment, which also means you won’t get hit with interest charges. 

You also may want to establish a separate bank account for your bills and shift necessary funds into it when you get paid.

Another way to pay bills that ensures you don’t miss payments is through direct debit. In fact, some businesses offer discounts to those who pay this way. The only proviso is that you lose control of the date the cash departs your account.

Phone banking is yet another approach, but you must remember to pay your bills on time. Of course, you can always use regular mail, aka “snail mail,” keeping in mind that it can take several days for the money to be posted to your account. You also run the risk of the remittance being lost.

Always Examine Your Bills

You want to be able to pick up any errors. Be sure to compare payments to what is indicated on your bank statements. A good way to remember to do it is by selecting a day monthly and putting it on a digital calendar or app.

Stay Ahead of Your Bills

Perhaps it’s easier said than done, but it’s crucial that you stay on top of your bills and what is owed, and not get to the point where you’re sending in what you can, when you can. If you’re doing that, you’re in trouble and may need to check into Achieve’s debt resolution program. You likely need professionals who can deal with your creditors directly. Don’t ignore your problem.

Check Your Spending

Unless your spending is under control, it will be very difficult to emerge from debt – and stay there. Establish a budget, which will also serve the purpose of showing you where your money is going. After all, those fancy coffees and restaurant carry-outs do add up.

Be Certain You’re Not Paying More Than You Need To

You can shave a bunch of cash off your monthly bills by taking a few steps, including getting a cheaper phone/wi-fi package, learning how to save money on utilities, and finding less-expensive auto insurance. You may be surprised by how much money you can save each month.

In the end, as we say, the best way to pay bills is whatever way gets them paid every month and on time. And while you’re at it, take steps to reduce your balances. Paying bills is all about creating life-enriching habits.

If you’re already in over your head, in terms of balances due, remember to check in with Achieve.