There really is no way to get around paying bills – they come with almost every aspect of life. However, you can manage your bills so that they do not become such a burden, instead of letting your bills completely take control.
You have to be in control of your bills, no matter how deep down you feel you have gone. Starting somewhere is the first step to manage your bills, and then it becomes a habit.
Here are 5 ways to get on top of your bills.
Set Up Automated Direct Debit
Your bank will most likely have the option to set up a recurring payment or direct debit on your account. You should really consider doing this for regular bills such as rates, rent, school fees, and electricity.
When setting these up, you can decide how much you want paid, when you want it paid, and how often it should be transferred.
It is a good idea to set these up to be debited on payday so that these bills are all taken care of and there are no surprises later on in the month.
Know When Your Bills Are Due
Knowing when your bills are due is so important! Nothing throws your budget out of whack like an unexpected bill that you forgot you needed to pay.
An example of an unexpected bill can be a car registration – this can be more than you afford when you need to pay for it.
List monthly and yearly bills so you can keep track of when they are all due. Try to plan them as well so that you don’t have to pay too many at once, and not too many fall over the Christmas period when you need extra cash.
Only Spend What You Can Afford
So many of us are guilty of spending more than what we can afford, putting little purchases on the credit card, which eventually builds up to more than we can handle.
It might be worth listing everything you spend in one month and compare it to what you earn. If you find that you spend more than you earn, it is time to make changes! Even small overspending can rack up huge debt after a while.
Don’t Spend Unnecessarily
There is so much that we buy day to day that we do not need. Expensive coffees, fast food, and other luxuries just aren’t worth it.
When it comes to kid’s birthdays and Christmas, avoid buying too many gifts. They do not need that much, and you probably can’t afford it.
By just cutting out some luxuries, you will be amazed at how much extra money you have each month for things that matter.
Pay Your Bills On Time
It is a vicious cycle, not paying your bills on time. You will save yourself so much money by just paying your bills when they are due. If you don’t, you could incur late fees and other charges that just put you even further back.
If you are battling, don’t just ignore your bills. Talk to the creditor or your bank to set up a payment plan – there is light at the end of the tunnel!