All of use can’t function well without the services that we are used of having – internet, electricity, water, internet, cable TV, phone subscription, rent, etc. However, the fact that these services come with fees sometimes are neglected by us as well. Bills pile up and before we know it, the payments that we need to make piled up already and the services that we conveniently have gets disconnected.
This is more often caused by mere forgetfulness and not by outright negligence. That is why it is important to keep track of your bills. Here are some tips on how to be able to pay your bills on time:
- Set up automatic payments – some establishments offer this. All you need to do is set up your bank account or credit card to send out payments at a predefined day in the month.
- Put reminders in place – on your phone, on your computer calendar and even on your fridge! Make it a point to remind yourself.
- Create a habit – Make it a habit to pay all your bills at certain times in a day. That way, you’ll form a routine and you won’t forget!
With modern technology today and the rise of great organizational and behavioral tools, paying your bills cannot be easily forgotten.
It’s impossible to know when a crisis will hit and you need to find a lump sum at short notice. If you can secure your property against a loan, your bank or building society will almost certainly be willing to help. But if you can’t, the only alternative is to look elsewhere for cheap personal loans. And when you have other pressing matters on your mind, it is all too easy to fall for the first tempting offer that is presented to you. Don’t!Often cheap personal loans are anything but cheap! Taking out a large loan is a massive commitment and can be fraught with hidden problems that could dog you for years to come. Therefore, no matter how desperate you are, there are certain steps you must take to safeguard yourself.The most obvious pitfall is loan sharks. These are unlicensed moneylenders operating outside the law. They charge extortionately high interest rates and are likely to harass by threats and violence if you are unable to keep up repayments. They often pressurise people into borrowing even more money, covering one debt with another. No matter how desperate for cash you are, these people should be avoided at all costs. You need to check whether the person offering you temptingly easy cheap personal loans is a licensed moneylender, recognised by the Office of Fair Trading. You can do this by checking the Consumer Credit Public Register lists which is a free service. If the money lender is not listed with them, do not borrow money from them unless you are prepared for a lifetime of misery. If you find out too late that you have borrowed from a loan shark, you need to contact your local Trading Standards office without delay. They will help you to resolve the problem because you are actually under no legal obligation to repay debts to loan sharks.Another pitfall to be avoided is PPI or Payment Protection Insurance which might be one of the hidden and unnecessary extras sold alongside cheap personal loans. These are supposed to cover your payments if you are unable to make them because of illness or an accident that prevents you from working. They are actually very poor value for money, with their huge cost outweighing any potential benefits and they are frequently mis-sold. Most of these policies will not pay out if you are self-employed, retired or stop work because of stress, back problems or pre-existing medical conditions. The loopholes to these policies are so tightly sewn up that there are very few instances where they will pay. In fact only one in five claims is ever successful!Some loan firms try to force customers to take out PPI, claiming it is compulsory when this is not the case. There have even been incidences where it has been added without the knowledge or permission of the borrower. In the worst case scenarios, PPI is sold as a single premium, meaning it is paid for first and the cost of it added to the loan so that you are paying interest on the PPI as well as on the loan. When customers try to cancel the insurance, they suddenly find the entire loan has to be recalculated, making cheap personal loans very expensive ventures indeed.