No More Late Fees

According to a Harris Interactive Poll, 23% of adults say they pay bills late (and thus incur fees) because they lose them. Now, more than ever, eliminating those late fees is a must. Paying bills on time not only saves money, it improves your credit score.

Developing a routine for dealing with mail and paying bills is a great way to prevent late fees.

As soon as you get the mail, sort into:

• Recycle - put in recycling immediately.


• Shred - paper with identifying information should be shredded. If it's not convenient to shred immediately, put in a "To Shred" file or container.


• To Read (for leisure) - store near your favorite relaxing & reading spot. Once the items have been read, recycle or pass them along to someone else.


• To File - file immediately or put in a "To File" file and deal with on a weekly basis.


• To Pay/Action Items - place mail that needs attention in a "To Pay/Action" file or basket.

Set a specific day and time to take care of To Pay/Action Items. (For example, every Friday at 5:00 PM.) Allow enough time to complete this task - at least one hour.

• Attend to items in the To Pay/Action Items: pay bills, make phone calls, balance the checkbook, etc., taking care of all the items in this file.


• File items from the "To File".


• Shred mail that has accumulated in the shred container.

Developing a system for handling mail and specifically bills, will prevent late payments, eliminating the late fees and keeping more money in your pocket! What will you do with the money you save?