Simply paying your bills will not benefit you in the long run. Now, paying your bills ON TIME will do wonders on your financial life. It might be stressful to beating deadlines, but this certain practice is certified quick fix to boost your finance. And here’s why.
Boost credit score.
Obviously, being a good customer can earn you an A+ score. Creditors will be more generous on you and reward you a higher credit score. If you don’t know yet the rewards that come with this and you’re just starting out, hop over to this article that can help you a lot on this topic: https://aaacreditguide.com/how-to-build-credit-from-scratch/ .
You can have better deals.
One of the best perks of having a higher credit score is you hold the keys to the best deals on the town. Thinking of loaning a new car? Buying a house? Shopping clothes till you drop/? These can be all possible if you are a holder of a good credit score.
Get a higher credit limit.
Healthy credit score also means you can rewet higher credit limit. But this is not for you to have a larger amount to loan. Rather, this can be a way to improve more your score. If you still keep your spending like you usually do, credit utilization ratio will do the trick and can give you a better chance for better credit.
Late fees can be unpredictable. Different credit unions have their own pricing, but one thing common about them is that they are so quick to be tagged on your bills.
These can also mean added payment. You created another charge out of nowhere because just of sheer missing out payments.
Have a steady budget.
Taking control of your budget like a pro might be the best decision you’ll ever make in your life. And a late payment can throw your budget into chaos. As much as you can, pay on time so your budget will not wind up and not mess with your other finance choices.
No collections agent calling you.
Dire problems caused dire solution. Well, that’s what you’re credit union will think when you have 3-5 late payments. Believe me, you don’t want them to call their brother in arms or the collection agency to march in your door or call you every three hours. This might be bearable, but they also know dirty tricks like calling your relatives and friends. Talk about a social tragedy, you know.
Be at peace.
Being mentally at peace beats all the benefits I mentioned above. Knowing that you already paid your dues will help you to relax. Imagine always thinking when the collections agents will knock at your door will. Also, imagine what will happen to you if your credit score keeps falling down.
But, you have an option. You have the avenue to avoid all these by paying bills on time. You don’t want your late payment to be a burden you have to carry everywhere you go.