I can't seem to be able to catch up to my bills when they are due. we make enough to paid them, always late

Question

behind in everything. paying, but the late fees just killing me

Answer 1

if you get a tax refund or a bonus check or something that puts you ahead DO NOT SPEND IT.. instead, build a 1 month reserve (minimum) and pay your bills out of this reserve, using your paycheck to replenish it each week. This way, you will always have enough to survive if you miss a paycheck and wont worry about bouncing checks. Try to increase the cushion to 3 months worth over the next few years as this is the really the minimum you should have in case of an emergency (i.e. loss of job, illness, etc.)

Answer 2

i had the same problem until i started paying them online. i have them set up to automatically be paid from my account. you can set the pay dates to what you want. so every friday(we are paid fridays) a different bill or two gets paid . the first week we pay the bills that are due by the 5th the second week we pay the ones due by the 10th the 3rd is for the ones due by the 15th and the 4 week is for the ones due at the end or at the 1st.
as long as it is paid within 5 days after the due date you should not get late fees. most companys allow a 5 day grace period. i had to do it this way.even if i had a million bucks the crap still wouldn't get paid on time.
you need to set it up creatively so everything is not paid all at once and leaving you broke here and there but once you figure out your banks online payment plan you will get it right. i use b of a and they tell you when you can expect the payment to reach the creditor. when its taken from your account etc. i haven't gotten a late fee in a looong time nor have i bounced a check. if you don't have the funds they don't send and you get no charge. good luck

Answer 3

Get in the habit of using online banking. That's what I do. As soon as I get the bill, I don't put it away or I might forget about it. Instead, schedule it to be paid online, and you won't be late again.

In addition, know what bills can be late and which definitely CANNOT. For example, if you get hit with $5 late fee on a water bill that's not the end of the world. BUT, if you're late on a credit card statement, not only will the late fee kill you, but also the potential mark on your credit. And low credit scores will *defininately cost you more than late fees when you are borrowing money for a car, house, etc.

Answer 4

Consolidate your loans/credit cards onto one loan/credit card (usually a loan/credit card with a lower interest rate) and pay that one bill, instead of having multiple bills stacking up. You can set up an auto-payment if it's a credit card on your credit card's online website. Most utility bills are able to be paid online just find the company website and set up automatic payments or pay bills online. Therefore reducing late payments and reducing late fees.

Once you get caught up in late fees it's usually hard to get back on track. Make this a priority. Payments must be made on time. Once you make payments on time you balance gets lower and you eventually get current.

Answer 5

Sounds like you might be a tad disorganized.

I keep all my bills in one place, in a binder inside plastic page protectors.

The minute a bill comes in the mail or I get an email notice, I pop it into the binder. This binder is one that they sell for kids to use in school. It has space for pens and pockets for other things.

I also keep my checkbook, stamps and a supply of pens in the binder. When it's bill paying day, I go to my binder and pay some bills online and then write checks for the other bills and mail them off. After a bill is paid, I put it in the proper file in my filing cabinet.

A great website for free organizing tips is www.flylady.net

Answer 6

What has worked for me is my online banking. I love being able to view my account everyday and see that all my bills are paid before they are due. I have excellent credit and quite a bit of credit cards, it just makes it easier to pay online. you need to make sure you have all your bills in front of you when you set it up and also your credit cards, you need all the codes on the cards. once all your bills are set up you can set your alerts that lets you know if anything is due and what has been paid. Bank of America is great because you can set up a personal profile that lets you view all your accounts. Hope this helps

Answer 7

If you make enough , then there is enough in the checking account.
Set up auto pay for 10 days before they are due.
No more late fees , you'll save a bundle .

Answer 8

Contact each party and arrange to change the due date. Most companies are willing to change the due date.
I have mine set to come due on alternate paydays. This weeks paycheck pays bills due in two weeks. The paycheck received in two weeks pays bills due in four.

Answer 9

Get on a budget. Pay utilities, shelter, food, clothing, then transportation. Pay what u can on others. Check out daveramsey.om. he is a debt free millionaire. He teaches people ow to budget,get out of debt, and how to stay out of it. My wife and I make approx 50,000 before taxes, and have managed to pay off almost 60,000 in a little under two years following his methos. Good luck.

Answer 10

You need a written budget. I have one I created in Excel that has the income and expenses by month and year on one page. There's a column for due dates, too.

If you'd like a copy, just email me. I'd love to help you!