How to Stay on Top of Payments Over Summer
Sometimes you can get distracted, especially if you have kids out of school for the next couple of months. Technology has made it easy to pay your bills on time, but even the best of us can forget. One missed payment and high interest rates can be the difference between an enjoyable summer and a thrifty one. How can you stay on top of making all your payments on time this summer? New Era Debt Solutions has your answers in this week’s blog.
Set up autopay
Most companies offer autopay to make managing your payments easier. When paying off your credit card balances each month, autopay may be a challenge depending on your spending habits. For example, stores that extend a line of credit to help you finance your purchase require you to commit to a certain amount each month. It can be hard to predict a specific amount if your credit card is for personal use though. Determine the accounts you can enroll in autopay and if they will benefit managing your finances.
Track all regular purchases
Pay attention to recurring charges and make sure they are paid by their respective due dates. You can benefit from autopay for these types of accounts because you will be charged automatically by the date. It is also wise to check your settings every month to ensure your regular purchases are being charged and that your account is still connected. As efficient and helpful as technology can be, it is notorious for glitches and errors along the way. A simple password change or update could cause an error on your account.
There is nothing wrong with a little bit of help! As we mentioned, everyone gets forgetful from time to time. Managing your finances can become overwhelming, which makes it easy to overlook things. Set reminders on your phone, email, or calendar to remind yourself when certain bills are due that are not on an automatic payment schedule. You don’t want to see that you have missed a payment while on vacation. Be proactive to keep your bills paid on time and your finances on track. Remember: one missed or late payment could add burdensome interest to your balance.
Check your email
Businesses are typically prepared when scheduling and sending out automated reminders when your payments are due. Spending some time regularly decluttering your inbox can lend a level of organization to your financial tasks.
Make a plan
Are you distracted with other commitments this summer? For instance, are you focused on taking care of your kids who are out of school for the summer or trying to manage a second job for extra cash? Come up with a plan that works for you to stay organized whether that is mapping out a schedule or asking someone close to you for extra help.
Are you managing a large amount of debt? New Era Debt Solutions is here to help. Contact one of our friendly counselors today for a free consultation. We look forward to getting you back on the road to financial freedom.