Tips for Paying Bills

Summary: When is the best time to pay a bill? When you get it, or when it is due? Here's some ideas that can help you make the most of that dreadful task.

Pay bills just before their due dates to avoid penalties. Do not rush to pay bills as they arrive; you may lose the use of your money and any interest that may accrue. Wait until you get a reminder, and then pay the bill immediately.

If you find it difficult to keep track of payment due bills, set aside two specific days of the month—usually near paydays—to check your bills and decide which payments to make.

After paying your bills, keep receipts that establish the purchase date for items under warranty.