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Budgeting & Saving

Be Late For Something Day: Be Late For Something Today, Anything BUT Your Bills!

So apparently Be Late For Something Day is coming on September 5th. That means you’re officially excused from arriving to work late today!

(Okay, maybe not!)

[Tweet “It’s Be Late For Something Day! What are YOU going to be late for? Hopefully not your bills!”]

However, there are a couple of things that’s totally fine being late for, like arriving fashionably late to an event in a really cute dress, or showing up two minutes late to class so everyone can watch you enter.

But do you know the ONE thing you shouldn’t be late for?

Paying your bills!

[Tweet “You should always, and boy do I mean ALWAYS, pay your bills on time!”]

(Even on a day like today!)

Here are 3 reasons why you should always pay bills on time.

1. Late fees!

It’s bad enough that we have to pay bills, but do you really want to get stuck with paying more than the price of the actual service? If this isn’t enough of a reason to make sure you pay your bills on time, then by all means… keep reading!

2. Increasing Interest Rate

I’m sure you already know that if you don’t pay your bills in full, you’ll be charged interest. What you may not know is that if you continue to pay your bills late, your interest rate may spike. (Like I said before, no one wants to pay more than they really need to, right?)

3. Maintaining A Good Credit Score

I didn’t learn this one until very recently. That’s funny since it’s the most important reason out of the three! Late payments can and WILL hurt your credit score! What makes this devastating is that while fees are usually a one time thing, your credit history stays with you. A mistake stays on your credit score for seven years. Yes, a credit mistake you make in college in likely to haunt you when you’re trying to find a job, buy a house, and start a family.

[Tweet “Hey! Your credit history is really important, so don’t screw it up!”]

(I’m not kidding about this one either.)

Are there any other reasons you have for paying your bills on time?

If so, leave a comment and let me know!

Originally posted 2015-09-09 10:00:34.