DETROIT – In case you didn’t know, it’s Pay Your Bills Week. It’s an opportunity to give you a gentle reminder and a chance to actively work to lower your bills and take stock of your spending each month.
We all have them, but what’s the best way to manage them and the best way to save?
Bills can pile up, and if you set them to auto-pay, you can lose track of how much is being spent.
“When you have your bills, the first thing you should do is make sure you have them all,” said Great Lakes Wealth CEO Dewey Steffen. “Make sure you know them all. Get them all laid out and understand what you’re doing, just to start.”
If you carry and use credit cards, understand you can negotiate your terms. It can be tricky, but it’s not impossible to lock in a better rate.
“Call them. Say you want a new bundle for your cable package. Call your cell phone provider and ask what other options are available to me to upgrade? Again, take your time, do your research, but it’s possible,” Steffen said. “On a case by case basis, it doesn’t hurt to make those calls, especially if you can’t make those payments. It doesn’t hurt to ask.
Pay your bills on time if possible to avoid racking up late fees. Designate a day -- the same every month -- as your bill payment day.
Stay organized and keep your bills and payment information in one designated area.
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