Developing positive money management and financial habits
When under financial distress or overwhelmed with life events, bills can often be forgotten, creating additional financial trouble. When you fall behind, you may not only incur late fees but also interest rates on borrowed debts could rise, resulting in higher balances and more expensive debts. Credit scores are also negatively affected when you fall behind which could limit future borrowing opportunities.
Making sure your bills are paid on time is essential for your financial well-being. By taking steps to be proactive, forgotten bills can be prevented. Begin developing positive money management and bill paying habits by taking the following steps:
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