How to cut unnecessary costs while paying your bills

These unnecessary costs could be channelled to better use

09:40 31 October 2013

Paying your bills can be stressful at times but you can reduce the cost and stress involved by paying on time, or by using direct debit. The fact that companies can cut the cost involved in their paperwork if you use the direct debit method is the reason why they can in turn help you reduce your overall cost.

If you can remain organized and follow this method, then you will not face any sort of stress when paying your bills and you'll also save some extra money which can be useful for other things.

If you happen to be such a person who likes keeping track of all money spent, or you don't really have so much to flaunt, mark on your calendar the days when the bills should be paid. You can follow the direct debit method explained below:

• Plan ahead: Budgeting ahead, the money likely to be spent on a monthly basis is the best idea you can ever think of, and many companies help out in this process.

 

• Methods of payment: It is important to pay your bills as soon as they arrive in order to preserve your credit rating. For regular payments, use direct debits. You may also decide to pay online as it is faster, quicker, and easier.

 

• Don't Forget Discounts: Sometimes, you may have discounts for paying on time, paying annually, and paying by direct debit. Don't get furious if you are not informed; instead, ask about it now that you know.

Apart from the above explained there are other methods of cutting costs such as buying direct from the suppliers, instead of buying individually but if you notice that buying from the direct suppliers is almost the same with individual buying, simply shun them.