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Not being able to keep track of bills can lead to missed payments – which can lead to costly arrears and a poor credit score. When it comes to keeping on top of bills, there are many steps that you can take to gain control. Here are just some of the best ways to keep track of your bills so that you stay financially healthy.
Bundle your bills
Having to keep track of multiple lenders and providers can be a hassle. There may be ways to bundle certain bills so that you haven’t got quite as many payments to keep track of. If you’re struggling to pay off multiple loans, you could look into debt consolidation loans – these can pay off all your debts so that you’ve got one single loan payment to pay off each month. You may also be able to bundle your insurance under one provider – there are providers that offer car insurance, home insurance and life insurance all in one package. In some cases, you could even save money by consolidating debts and bundling insurance.
Cancel unused subscriptions
Many of us can get caught out by surprise subscriptions. These could be monthly payments for the gym or for Netflix, or they could be annual payments for National Trust memberships or software. Look through your bills and cancel any subscriptions that you don’t regularly use so that it’s one less payment to worry about.
Keep a bill calendar
You may be able to keep track of each bill payment simply by recording payment dates on a calendar. This allows you to budget effectively from week to week so that you have enough money to make these payments. You could use your phone calendar and set up alerts to remind you of upcoming large bills.
Use apps to keep track of bills
There are many apps that can help you keep track of bills, reminding you of payments and helping you to set a budget. Some of these apps can help you to monitor multiple accounts, as well as keeping track of multiple credit cards. Do your research to find the best bill tracking app for your needs.
Get your bills to come out on the same date
Having all your bills come out on the same date each month can make it much easier to keep track of them. In order to change bill payment due dates, you may have to ring up lenders and providers and talk to someone directly. Many lenders and providers will be happy to move the payment due date. In some cases, you may have to wait a month for the payment dates to change.