#PERIODIC EXPENSES DUE EVERY MONTH HOW TO#
#PERIODIC EXPENSES DUE EVERY MONTH FULL#

Get Organized: Create Two Separate Bi-Weekly Spending PlansĬreating a spending plan is without a doubt one of the most useful tools that you can use to help you achieve your financial goals. Paying earlier allows you to pay less interest and pay off your cards faster. If balances are being carried, then interest compounds every day. This is especially true when they are payments, such as credit cards or car payments, that accrue interest. Paying your bills as soon as the money comes into your account will prevent you from wasting money on other non-necessities. If you wait until the 19th or 20th to pay it, you are giving yourself 10 days to possibly spend that money on something else. There’s no need to wait until the 20th to make a payment. If you got paid on the 9th and the bill isn’t due until the 20th, go ahead and pay it on the 9th. Pay Your Bills Earlyĭon’t be afraid to pay your bills early. If you rent, the same plan applies however, there is no interest to save.

Check with your bank to limit any transfer fees they may have.

#PERIODIC EXPENSES DUE EVERY MONTH FULL#

When your payment comes due, transfer the full mortgage payment amount back into your checking account and make the payment by the due date. Transferring it out of your checking account into savings can help prevent the temptation of spending the money on something else. If you are unable to set up bi-weekly payments to your lender, another idea is to take half of your mortgage payment from each paycheck and transfer it to your savings account. You also pay more toward the principal and less in interest. After all, you’ll be making 26 half-payments per year (13full payments) versus the 12 monthly payments. If your lender allows less-than-full payments, you may find you’re paying off your mortgage more quickly than you once imagined. Most lenders will return payments if they are less than the total amount due. Don’t send in partial payment unless they approve it. Living on nothing for two weeks is certainly not fun, so consider taking half of your mortgage payment from each paycheck.Ĭontact your lender and see if they allow you to make bi-weekly payments. When we make our entire mortgage payment from one of our bi-weekly paychecks, there’s usually not much money left over. and leading to a lot of financial insecurity. High housing costs are increasing throughout the U.S. Pay Your Mortgage Bi-Weekly Instead of Monthlyįor those who own a home, our mortgage payment is usually the largest bill that we have each month. This causes a chain reaction and the next month’s bills are late, too. Typically, people who have this mentality end up paying their next set of bills late. Yes, it’s true – there are two months each year where you will get three paychecks in one month, but that doesn’t mean that you get to throw a big party or go on a massive shopping spree with this “extra” money.

Even if you’re paid on a biweekly schedule, it is possible to create a budget that works for you and your family.īelow are five tips to help you end the madness and keep current with your monthly bill payments: 1. Remember a budget is essentially a financial roadmap for what you want to do with your money.

#PERIODIC EXPENSES DUE EVERY MONTH HOW TO#

This seemingly harmless pay schedule can leave many wracking their brains and pulling their hair, wondering why they can’t seem to pay their creditors on time each month.ĭoes this sound familiar to you? How to Juggle Monthly Bills with Biweekly Paychecks Your paydays fluctuate each month, but your creditors always want their money on the same day.

Trying to pay your monthly bills with a bi-weekly pay schedule can be challenging.

Periodic expenses due every month