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If you’re learning how to manage your money for the first time, it can be very difficult to ignore the temptation to go on a spending spree. Prioritizing rent, phone, electricity, or a car payment can feel boring and uninspiring. But being responsible and paying your bills on time can pay off in a big way later on down the road. So, before you throw caution to the wind and blow your paycheck on candy or games, and all the fun stuff, here is why it’s so important to pay your bills on time, and how to help yourself do just that.

One of the first questions your financial planner Orlando will ask you is about your bill paying track record. Do you tend to pay your bills late or on time each month? This is because it can really make a difference both in the short and long term of your financial life. Here’s how:

Reduces Stress

Life is constantly hectic and it’s easy to forget when your bills are due. That is, until you’re charged a late fee. Having to pay more money on top of a bill adds an unnecessary amount of financial stress, especially if it’s a situation you find yourself in frequently. By paying your bills on time you will immediately reduce the amount of stress and worry in your life each month. And although paying bills isn’t fun, creating a good, regular habit of paying them on time will allow you to consistently feel relief.

Saves Money

Sure there are so many other things you’d rather spend your money on than your bills, but that instant gratification fades quickly when you realize it doesn’t make your bills go away. It usually makes them more difficult to cover too. By ensuring you have enough money to pay all of your essential bills, and then paying them on time, you will avoid penalties, fees and in some cases, interest. By not having to pay extra, and unnecessary money, you’ll find you will have more money in your account each month that can be used for something fun.

Boosts Credit Score

Getting into the good habit of paying your bills on time each month will help your financial future as well. For example, learning how to manage your money and make on time payments will help you use a credit card responsibly and help you get approved for one in the first place. Timely payments will help increase your credit score, which will help your spending capabilities, and increase the opportunities for you to more easily make bigger purchases, like a car or a house, in the future.

One of the more obvious reasons to pay your bills on time is that a timely payment will keep your services on. The lights, gas, water, cable, and phone will all continue to work when you pay their respective bills on time. It might seem ridiculous, but if you’re late to pay for some things, they’ll get shut off. And you don’t want to be without electricity or heat for even one or two days.

In today’s world it’s also much easier to ensure you pay your bills on time. You can pay most bills online, and with autopay, it’s guaranteed that you’re covered each and every month automatically.