Debt tip: Pay all bills on time

The biggest thing that often gets people in trouble with bills is forgetting due dates and making sure that you have written your account number correctly. The last thing you want to do is make a payment and have it credited to someone else. I emphasize due dates because you can let a bill go through the roof just on late fees and interest rates alone.

For example take a credit card bill. If you are already struggling with it being over the limit you have that charge as well as a late fee. That in itself then throws the bill even farther over the limit and before you know it is a never ending cycle. Even though you cant pay the bill off make sure you pay the min on time to avoid extra fees. It will make a world of difference in the end.

I also wanted to add the importance of keeping copies of payments. On the rare occasional that you dont see your payment credited you will have proof to back up your claim and get it resolved. The worse feeling in the world is the pay and then not get credit for it and ultimately that well earned money goes down the drain.