Paying monthly bills is hardly anyone’s idea of a good time. But procrastinating can be costly as late fees and interest changes can be substantial. In addition, your credit rating can suffer, causing major problems down the road if you’re applying for a new mortgage or considering refinancing your current mortgage.

If your tardiness is due to disorganization, try this: As bills arrive, put them in a folder. At the end of the week, write out a check and pay each bill. Mail them then, or write the date they’ll need to be mailed on the envelope and put them in your calendar or some other visible location so you won’t forget to mail them as needed. You may also want to consider using electronic bill payment services through utilizing ACH debit transactions, a service your credit union offers. If this option is of some interest, you can authorize re-occurring monthly payments from your share draft account, assuring your bill is always paid on time.

 If you’re late because your expenses exceed your income, stop by the credit union for some assistance. A debt consolidation loan or our “low rate” VISA credit card along with a new spending and saving plan, may be all that’s needed to get you back on track. Feel free to call us because we’re here to help you with your personal finances.