As a homeowner, you probably have lots of different bills to pay, are we right? From property tax and mortgage repayments to your energy bills and home maintenance costs, being a homeowner is pricey.

The main problem for many homeowners is that when a bill is missed or paid late, extra interest and fees are added to that bill. This makes it even more difficult for that bill to be paid off, leaving many homeowners struggling to keep on top of their other bills. This then leads to other bills being paid late, and the whole cycle of added fees and interest continues.

Picture from Flickr

Admittedly, as a homeowner it isn’t always easy to keep on top of your bills. However, there are four simple things you can do to make keeping on top of your bills easier to manage.

  1. Know what bills you have coming

The worst thing you can do is not keep track of what bills you have to come, as this will only make it more difficult for you to stay on top of them. If you haven’t already, sit down with your partner and make a list of all the bills you have to pay each month.

This list should include every payment that you need to make, from mortgage payments to medical insurance, every bill must be on there. Once you have completed your bills list, you can then use it to budget for each month. This will ensure that you set aside enough money each month to pay off all of your bills.

  1. Set up direct debits

To avoid forgetting to pay any bills, as this leads to late payment charges and increased interest rates, use direct debits for payments. Setting up direct debits for each bill is ideal, as it means that even if you forget about a bill, it will get paid automatically.

Obviously, for the bills that aren’t the same amount each month, you won’t be able to set up a direct debit. However, for most bills you should be able to do so.

  1. Don’t let one missed payment affect your other bills

If you end up missing a payment for a bill, such as for property tax, don’t let it affect your other bills. You see, it’s common when a bill is missed, for homeowners to focus on that bill, forgetting to keep on top of the other bills.

If, for instance, you got behind with your property tax bills, don’t let it affect your other bills. Make sure that you continue to pay all your other bills on time and deal with the missed property tax bill separately.

The best way to get back on track with a missed bill, such as property tax would be to get a short-term loan from a loan company like Reliance Tax Loans. Getting a loan would allow you to pay off your late bills and you could then start making the loan repayments as and when you could afford them.

  1. Open an account for bills

Instead of keeping all your money in one bank account, open a second account just for money for bills. That account could then be used to put all of your money for bills into each month. From mortgage payments to payments for school fees, all bill money should be put into that account.

Then, any spare money can be left in your regular bank account and can be used for any additional spending. Such as for treats, luxuries and family days out.

Keeping on top of your bills as a homeowner can be difficult, especially when there are lots of different things that need paying. But, by following the tips and advice in this simple guide, you can make things much easier for yourself.

If you want to make serious money, then there is only one place to look to: at the people who have already made serious money. There are a lot of reasons why and how they have managed to develop such healthy bank accounts. Some of it is a stroke of luck, of course. But most of it is through good financial habits. Let’s take a look at what they are.

wealth-retire-game

Source

Keeping things to themselves

I’m not talking about personal feelings here. I’m talking about cash. Wealthy people like money – the vast majority anyway. Sure, there are the Bill Gates’s of the world that at some point will give a lot back. But in the main, they like to keep hold of their money. It gets squirreled away in offshore bank accounts or syphoned off into various funds to remain untouched from anybody for extended periods of time. It’s a habit that everybody can get something out of, however. And maybe something you should think about yourself? It’s the ideal way to save sensibly for your future.

Spending little

OK, so some very wealthy people enjoy their money by flaunting it. But one of the reasons why we don’t hear about a lot of successful people because, actually, they aren’t ostentatious. They are bright with their cash, and only spend it on necessities and the occasional luxury rather than the other way round. Now, obviously they might have a better job than the majority of us – if at all – but the point remains: how much of your money do you really need to spend? And could you put aside a little more for your future or your children’s future?

Investing right

Wealthy people know how to spot an opportunity. Or, if they don’t, they play safe. When it comes to investment, you should try and reduce your risk as much as possible. And that means only investing in long-term stocks, shares and bonds that will be more likely to you a return. A good example of that is gold. A lot of wealthy people have invested in gold and played the long game, getting added value year on year. While we wouldn’t advise throwing all your money at any one investment, it’s never been easier. Services like ACM Gold Trading give you the opportunity to start trading in the metal whenever you like. But, please: only ever use the money you can afford to lose.

They keep going

The final point on the list is perhaps the most important: wealthy people keep going. They are persistent, careful of what they do in their spare time, and learn something every day. If you can’t match those essential traits, then your dreams of making things better for yourself aren’t going to happen (unless you win the lottery). But you have more chance of being hit by a bus at a crossing lights, going to the hospital, coming out and then being hit by the same bus at the same crossing lights. In other words, it’s up to you to make things happen!

 

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