Operation Don’t Go Broke is devoted to bringing readers helpful tips on ways to save in college.
Paying bills can be stressful, but not paying them will only create more stress in the long run. Pay bills the smart way by following these helpful tips:
Pay important things first, such as mortgage or rent, power and insurance.
When you can, pay in advance. Insurance discounts are often given for pre-paying the entire six or 12 month premium.
Cut back wherever possible. Cancel cable and sign up for Netflix or check out free DVDs from the public library.
- Steer clear of contracts
Purchase a prepaid phone and only sign up for services that are pay as you go.
- Negotiate a lower rate
Contact your credit card company and request a lower interest rate.
- Sign up for autopay
Utility companies will often offer autopay discounts,
and this way you’re guaranteed no late fees.
- Avoid processing fees
Ask about company policy. Whether you pay electronically, by phone or mail, be sure you are not being charged a processing fee.
- Schedule a time each week to pay bills
Sit down once a week to sort mail and pay bills. Develop your own system to stay organized and on top
- Pay towards principal
Instead of paying just the minimum balance, pay double or triple the amount due. The faster you pay off debt, the less interest you pay.
- Watch out for hidden fees
Some companies will charge hidden fees, so it’s important to examine bills and
know precisely what you’re paying for.
Second year COCC nursing student Anna Quesenberry is a wife and mother of two who is passionate about saving money.