How to pay your bills

It can be tough to pay your bills on time, but it’s an important skill to learn. If you don’t pay your bills you could fall behind with payments which can lead to debt, a bad credit rating, and even stop you buying a home.

But what is the best way to pay your bills? We’ve got some tips on what to do if you’re struggling to keep up and pay on time. 

How to pay bills on time ⏰

If your bills are piling up, the task of paying them can seem daunting. With these simple but effective tips, you’ll be able to stay on top of your finances. 

1. Organisation is key

If your bills are digital keep them stored in a specific folder on your computer. If you have paper bills keep them organised in a folder. Knowing where all your bills are stored you’re less likely to miss payments.

An open diary planner

2. Check your bills regularly

We can all be a bit guilty of hiding from our bills, out of sight out of mind. Checking them regularly means you’ll spot any mistakes and will notice if your bills increase or decrease. We suggest picking a day each month to check your payments and bank statement.

3. Make sure you’re not overpaying

When it comes to bills, there’s always a cheaper option out there. Saving money on bills is a great way to reduce your spending. Although shopping around to find the best deals can be time-consuming, websites like comparethemarket.com can help find you the best deals.

The best ways to pay bills 

Direct Debit 💳

Using Direct Debits to pay your bills means you’ll never miss a beat. Once you’ve set up the initial Direct Debit you don’t have to think about it again and some companies offer discounts for customers who pay by Direct Debit. 

Online or phone banking 📱

If you bank online or by phone you can pay bills directly. It’s quick and easy and you are in control of how much and exactly when you pay, but you have to remember to pay your bills on time.

By post ✉️

If you want to pay your bills by post this requires writing a bill for the amount to the address provided by the business. Paying bills by post can take up to five days for them to process the cheque and receive the money from your account. 

Post office 🏢

If you want to pay your bills in person, you can head to the post office to pay a bill by cash or card. However, there can sometimes be a fee associated with this service, so make sure you double-check.

Prepayment meter 🧰

This is one of the most expensive ways of paying your gas and electricity bills, which involves topping up a key card or a card which goes into your gas or electricity meter. One to remember with prepayment meters is that once you’ve run out of credit, you’re out of energy.

If you’re having trouble with paying your bills, the best thing to do is talk to the people you owe money to as soon as you can as they might be able to help you in ways you weren’t aware of before. 

Need help with managing your debt? Read our article on getting help with your debt here. If you feel like you need a little extra support, free debt-advice organisations like StepChange and Citizens Advice are great organisations to turn too.