From car notes to rent to mortgage to phone bills to cable, we all have recurrent bills we have to settle monthly, weekly or biweekly.

Making timely payments allows you to maintain access to these facilities and maintain good standing with your service providers. This aside, your creditors also report your repayment information to credit bureaus. This impacts your credit score positively or negatively.

This makes it important not only to settle bills but to always do so in good time. Here are three tips to help you do that.

1. Have a Backup Plan

Despite your best intentions, you might have a bill that falls due when your pockets are empty. Still, this has to be paid if you are to safeguard your credit score.

In such cases, it might be useful to get payday loans with no credit check. These are offered to salaried employees based on their ability to pay. The best feature about these is that lenders do not look at applicants’ credit before processing their loans.

Still, ensure to repay these on time so as to qualify for other facilities in the future.

2. List out Every Bill

It’s impossible to have a timely bill repayment schedule if you are not clear on what they are.

It helps to list out all bills from the different service providers, lenders, and suppliers beforehand. Write down the due date of each beside the bill as well.

This ensures that none of your bills fall through the cracks. A rather useful tip is to schedule your bills for the same payment date whenever possible. The day after payday is always a great time for bills to fall due. This way, you can sort them out at the same time before you take up any heavy spending.

3. Automate Payments

With your list of bills and payment dates in hand, it’s time to work on a payment system. The primary goal here is to automate as many bills as possible.

To set this up, talking to as many of your lenders as possible and see which ones will accept automated payments from bank accounts.

With a complete list, set up your account to make certain repayments to specific creditors on the day or a day before the payments are due.

Granted, this is not possible for all your bills. For the remaining ones. Set up a similar payment date, or pay those as soon as the bill comes in.

The Bottom Line

Paying bills on time reduces stress, supports good financial management, and reduces penalties are late payment fees. All these are positive gains.

While these will take some effort initially, the more you practice these tips, the more they will become second nature to you.