How to Avoid Paying Late Fees

Late fees are never fun to pay. Think of all the shoes, dinners, movies and computer games you could have purchased with money that, instead, has gone toward late fees over the years. Being charged late fees on bills that are overdue is like adding insult to injury. Not only do you have to pay a bill, but you now have a late fee and it could have an adverse affect on your credit.

Instructions

1

Store your bills in a visible place that you access daily. Being able to locate bills and write out checks for them is important when trying to avoid late fees. Store your bills on an envelope rack on your desk, or any other visible filing system.

2

Update your calendar the moment you receive a bill in the mail. Whether you prefer electronic calendars and reminders or paper desk calendars, you must track your bill due dates. Put a note on your calendar that the bill is due on BOTH the actual due date and a date one week prior. The day one week prior is when you should actually mail your bill.

3

Buy Forever stamps. There is nothing more frustrating that having a bill returned in the mail because there was not enough postage attached. Not only will this earn you a late fee, but it will result in you having to visit the post office. Instead, buy Forever stamps so that when rates change, your stamps are still good.

4

Sign up for automatic drafting of your bills. You can download forms online or call each of the companies that you pay monthly bills to. They should be able to set up an automatic draft from your bank account on a certain day per month. This way, your payment is always on time, and you eliminate the need for stamps.

5

Pay bills in advance. There are certain bills like auto insurance and homeowners insurance that can be paid in advance. You can pay them three, six or 12 months in advance and save yourself the hassle of mailing out monthly payments Additionally, many companies charge a surcharge when you pay monthly so you could end up saving money by paying in advance.