Do you always forget to pay on time? Try this
I'm Doña Caja, and in my years behind the counter I've seen plenty of responsible people pay late, almost never out of carelessness. Here's a simple system so no due date slips by.
Doña CajaYears of counting money.
Updated
It's not a bad memory: it's too many dates
Rent is due one day, your phone another, your card another and the internet yet another. And some payments come every three months or once a year, like insurance or tuition. Nobody can keep all of that in their head, and nobody has to.
Forgetting a date can cost you, though. In Mexico, CONDUSEF, the financial consumer protection agency, explains that paying a credit card after the due date can cost you a late fee, set by each bank, plus interest on top. The fix isn't trying harder to remember, it's having something remind you.
Step 1: write down each payment once
List everything you pay on a set date: rent, utilities, phone, internet, cards, instalments, insurance. Next to each one, write the amount, the next due date and how often it repeats: every month, every three months, every year.
Do it once and do it well. If each payment has its frequency, the next dates follow on their own and you don't have to write them again every month. For a one-time payment, like a tuition fee, its date is enough.
Step 2: choose when you get the reminder
A good reminder arrives with time to act. For big payments, like rent or your card, a reminder 3 or 7 days before works well, so you can gather the money or move it to the account you pay from. For small ones, like your phone, a reminder the day before may be enough.
And you don't have to pick just one: you can combine a reminder a few days before with another on the day itself, in case the first one catches you busy. What matters is that it reaches you where you'll see it, like your phone.
Step 3: when you pay, log it
Marking each payment as soon as you make it closes the loop: you know what's done and what's left, and you don't pay the same thing twice out of doubt. That payment is done, and the reminder for the next one arrives in good time.
If a payment is always the same, like your phone plan, some banks let you schedule it so it pays itself. Even so, it's worth getting a reminder first, so the money is in the account that day.
Pay a little early, not on the last day
The due date is the last day, not the ideal day. Paying a day or two early protects you from surprises: a weekend, a holiday, a transfer that takes longer. On your card, keep both dates in mind, the statement closing date and the due date, and avoid paying only the minimum, as CONDUSEF recommends.
Frequently asked questions
How can I remember to pay my bills on time?
Write all your payments down once, with their amount, their date and how often they repeat, and set a reminder before each date. That way you don't depend on your memory. When you pay, mark it as done so you know what's left. If you can, pay a day or two before the due date, not on the last day.
How many days before a payment should I get a reminder?
It depends on the payment. For big ones, like rent or your card, a reminder 3 or 7 days before gives you time to gather the money or move it to the right account. For small ones, a reminder the day before is usually enough. You can combine several: one with time to spare and another on the day.
What should I do if I already missed a payment date?
Pay as soon as you can. On a credit card, the bank can charge you a late fee and interest on top. Check your next statement to see what was charged and, if you have questions, talk to your bank or the company. Then set a reminder for that date so it doesn't happen again.
Sources (in Spanish)
This is financial education, not advice: Oslo doesn't recommend loans or investments. Decisions about your money are yours.
