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Pay Your Bills on Pay Day

Money Tip: Pay Your Bills on Pay Day

When I was a fresh college graduate earning my first real paychecks, I quickly saw how living in a city like San Francisco isn't made for entry-level salaries. Exploring the city and all of its nighttime gems were certainly priorities, but the biggest priority was to keep myself out of debt while not depriving myself of enjoying my new surroundings.

I struck a balance by forming the valuable habit of paying all of my bills on pay day. That practice, coupled with automatic 401(k) savings and automatic transfers to a high-interest savings account, can allow for a relatively low-stress financial life. Once in a while we may make money mistakes that can throw us off track and unexpected expenses inevitably come up, but forming the habit of paying your bills as soon as you are paid will keep you out of serious trouble.


Join The Conversation
thelorax thelorax 8 years
Now can someone tell me how to coerce my husband into following suit? :-D I send him an e-mail/text combination reminder but it doesn't seem to stick! He always gets the payment in on time, but I've always been a control freak about finances. I had to be when I was stuck with two consecutive roommates who didn't pay bills!! :-o
ilanac13 ilanac13 8 years
i've definitely started to do this and it's becoming a bit more manageable for me. i know that as soon as i get paid - certain things get paid off and then whatever i have left is what i can play around with after bills and responsibilies are taken care of. i used to hold off on paying bills until the beginning or end of the month and that didn't always work for me. :) now i'm more organized about it and i find that i have MORE money to spend since i don't freak out about it
L7amiguita L7amiguita 8 years
My thoughts exactly beram! It's WORSE thinking you might not have money for your car payment, than not having money to eat out at a restaurant...
Xandara Xandara 8 years
I recently started doing this and it's amazing how much it's helped me! I wrote down all my bills, their approximate due dates, and the dates I get paid... having it all on paper made it all make sense and now I don't worry about money nearly as much. But it's funny because now I'm excited to get paid because I can pay my bills and get that stress off my mind!
bransugar79 bransugar79 8 years
I've always paid my bills on pay day.I usually pay anythign due before the 15th of the following month with my paycheck at the end of the previous month so they won't be late and then with the first paycheck of the new month I pay everything due after the 15th. I am super anal about having bills paid on time so maybe I get a little too anxious but it's worked so far
dcfashionista dcfashionista 8 years
I get paid every friday and schedule my bills to come out on Fridays also.
bbrimacombe bbrimacombe 8 years
I like to pay bills online on the day they are due so I can maximize the amount of interest I'm making.
beram1220 beram1220 8 years
I do this too and it makes life sooo much easier. I get paid once a month and at the end of the month I am definitely low on funds but I would rather worry about whether or not to eat out than whether I can pay my car insurance on time!
Taadie Taadie 8 years
I do the same thing. It makes life a whole lot easier.
MartiniLush MartiniLush 8 years
Hey, bella! Nope, you and I are usually on the same page - two peas in a pod, we are! :P
bellaressa bellaressa 8 years
Thanks Martini --glad I am not the only weird one.
MartiniLush MartiniLush 8 years
This is exactly what I do as well!
thelorax thelorax 8 years
I get paid once a month too, like Lovely1, and it really forces me to be disciplined. I already know exactly how much I have to spend, so I take out money for bills and savings THAT DAY, and then I'm careful about incidental things throughout the month.
ffemt1201 ffemt1201 8 years
My boyfriend and I write out our bills at the beginning of every month and update them every Thursday (which payday for him, direct deposit for me is Friday morning, 12:00); consequently, our list is updated weekly and we file it with all of the "paid on" dates detailed, in case there were ever a problem. It works well for us.
bellaressa bellaressa 8 years
Exactly what I do Savvy!!!!
sorrowja sorrowja 8 years
I also do this however I split all my bills in 2. I get paid semi-monthly so I am always half of the amount owed ahead. Also instead of paying one big amount I get to pay a smaller amount.
mlen mlen 8 years
yea i adjusted one of my card dates to arrange it better with a paycheck. the minute my card cycle is done i see how much i owe and when my next pay date is- then i set up it up online to pay on that date! its great because the day after my paycheck hits i can look in my account and see the amount i actually have left after all my bills
Lovely_1 Lovely_1 8 years
I get paid ONCE A as soon as I get paid, I pay the bills off and everything else is left for me to feed myself, gas my car, and shop :)
emsmiley emsmiley 8 years
This is my plan as well. it works, allowing you to have money and know all bills are paid. One way to make it work is to call your credit card companies, student loan holders, etc and request a due date change to better balance the money due. I even split my rent between the two check so i am not living hand-to-mouth for two weeks because it can drain one paycheck alone. :)
Shopaholichunny Shopaholichunny 8 years
I do this too so I don't have to worry about it.
Martini-Rossi Martini-Rossi 8 years
This is exactly what I do. All of my bills are paid on pay day. They are always early and its great because I'm able to push that task aside and not worry about it. I also have a few bills that are setup for automatic pay which is great too.
Lovely_1 Lovely_1 8 years
that's what I do! The DAY I get paid, I pay off all my bills and take care of all the crap!
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