When it comes to paying your bills the process seems simple, pay before or on the due date and then wait until the following month. If you’re in debt you might have learned about the snowball method where you should be paying your smaller debts off first. If you’re using a budget to keep track of your finances organizing your bills can help you build a better a budget.
First off, think ahead about property taxes if you own a home. Depending on your state you might have to pay them annually or bi-annually. Set aside some funds every month to be sure that you’ll have enough to pay that bill when the due date rolls around.
If you have a mortgage that is likely the first bill you want to pay, after all, you want to keep your roof over your head.
Next, your auto loan will keep you on the road. If you fall behind on these payments your car could be repossessed which could cause even more problems. If you feel that your payments are becoming difficult to make then talk to your lender about refinancing or extending the length of your loan which could lead to lower payments.
The dreaded student loan payment is another bill that takes up a nice chunk of your pay. Unfortunately falling behind on this loan can hurt your credit; if you have a federal loan Uncle Sam could garnish your wages if you fall behind. Again, if the payments are too much talk to your lender about what options may be available to help you.
Your credit cards are next on the list. If your bills are too close together change around your due dates if your lender provides that option. You might also be able to ask for a lower interest rate, some credit cards might change the rate for a few months but it could save you some money in the long run. Depending on how many credit card lenders you have it may be a good idea to take out a debt consolidation loan to lump all those bills into one rather than worry about each due date.
After all those bills are paid you likely still have to worry about others such as electricity, cable, cell phone, internet, etc. If you’re looking to budget your money be sure you decide on what you need and want, sometimes you don’t need all those extras for your cell phone or that fancy gym membership. Prioritize your bills, pay them on time, and contact your lender if you cannot pay them. AmOne can help you find solutions to your financial problems. Learn more about debt consolidation loans, credit counseling, and credit repair to see what methods can help your financial situation. Contact AmOne today.