household

Dear Ms. Deborah,

I am in my 30s and make enough to live comfortably but there is one thing that I am not very good at, paying my bills on time. My wife and I get into huge arguments because it can and will affect our credit rating down the road when we want to buy a house. Can you provide me with some tips?

Sincerely,

Procrastinating Husband

Dear Procrastinating Husband,  

Bill paying is very important because it does increase your credit score and enables you to get better interest rates on future loans. So how can you start paying bills on time?  It starts with both you and your wife working as a team and creating that habit together.

My suggestions that may help you stay on top of your bills are as follows:

1. Organize your bills. You can create a filing system that has 12 monthly folders and 31 numbered folders to help you organize the bills by the month and day they are due. For example, when you get your mail and it notes that the bill is due next month, May 15^th, place it in the monthly folder marked May. At the end of April, I would suggest pulling the May monthly folder and taking all the bills due and now organizing them in the number folders on when the bill is due. Knowing that the bill is due on May 15^th, I would place that bill to be paid by the 10^th to ensure it arrives on time.
2. Schedule a bill paying time. It is important to schedule a designated time as a couple to go over finances and pay bills. This ensures everyone is on the same page and can bring up any upcoming expenses or budget for something in the future like a home or dream vacation.
3. Schedule automatic payments. This is a great way to ensure that those credit card bills and mortgage payments are paid on time. The only downfall is that you always must have enough in your account to cover those bills.
4. Pay the bill when it comes in. Once the bill comes in, go directly to their mobile app or your banking website to schedule that payment or if you prefer mail, write that check and mail it off.
5. Set up bill reminders via email or text. A lot of credit card companies and banks offers services to ensure their clients are successful in paying their bills on time. Enroll in those reminders and possibly save the planet by opting for paperless bill service.

Paying bills on time reduces stress and a happy wife is a happy life! I hope this helps. Thanks for stopping by.