Insider Tips for Paying Bills

by Dr. Jeffrey Lant

We ALL have them… and lots more than we like. But what most folks DON’T have is an ongoing strategy for paying them for maximum advantage.

So today… smart-money recommendations for paying and managing BILLS!

1) Create a list of all your bills.

List who you pay, when the bills are due, and whether there are penalties for late payment. Managing your bills starts by having the facts at your fingertips.

2) Flush with cash?

If you are able to pay a bill, DON’T want until the end (or beginning) of the month to pay it. Instead, pay it the very day you receive it. Anticipate that there will be one day when you can’t pay early and prepare for it by ultra prompt payment now. Show the person you owe, you are most responsible by paying early whenever you can. You’re building a good image for yourself — and future leverage and help when you need it.

3) Can’t Pay ALL Your Bills? Decide which ones to defer.

It’s essential that you KNOW which bills sock you with late payment penalties and which ones don’t. Late credit card payments, for instance, can be VERY costly. Electric and gas bills ordinarily carry no penalties.

Note: when you can’t pay any given bill is the time you’ll be grateful you established a history of paying early!

4) Severe Cash Problems? Seize The Initiative.

Most people hide when they owe money. This isn’t smart. If you know you’re going to be unable to pay all of a bill in a timely fashion (it happens to everyone), then seize the initiative. Pick up the phone, call the person/business owed, and fess up.

Say when the bill is owed, how much you can pay now… and when you plan to pay the balance. Put this in writing if necessary.

Be advised: don’t expect the person you speak to to jump for joy when you inform them payment will be late. However, there IS likely to be some comment that recognizes you are being responsible, unlike most of the people who owe them money!

5) Now Pay When You Say You’ll Pay

Having informed your creditor about when you’ll pay, now pay on the dot (or before, if able). This is the moment you’ll build credibility… which is something you can certainly use in future!

6) Disputed Bill? Take IMMEDIATE Action!

Did you open a bill today that made you gasp for breath? Too much? Riddled with error? Here’s how to handle this situation:

DON’T pick up the phone right away and swear a blue streak at some hapless employee. Instead, take a deep breath, sit down and write the facts, and nothing but the facts.

Then call and find out the particulars of the person responsible for assisting you. Get name, title, address, phone and fax.

Write a letter that contains FACTS ONLY, not one unwise line of the “you people…” variety. That undercuts your case and credibility. Let this message chill overnight, or until you are confident it is purely fact without invective. Then mail (or better yet, fax) it. Ask for a confirmation of receipt.

Now let the matter sit until you hear from your creditor. This usually buys you extra time. When they respond, see if they have admitted any of your claims/arguments. If so, always thank them, while remaining firm on the rest. Handle ALL points in writing. This gives you maximum control. Continue this process until you’ve got as much as you think likely.

Note: was anyone particularly helpful in sorting this matter out? Send a thank-you note with kind and lavish praise. After all, you may want their help again!

Author Bio: Sandi Hunter Director of Website Design

Harvard-educated Dr. Jeffrey Lant is CEO of Worldprofit, Inc., http://www.worldprofit.com where small and home-based businesses learn how to profit online. Attend Dr. Lant’s live webcast TODAY and receive 50,000 free guaranteed visitors to the website of your choice!

Category: Business Management
Keywords: traffic,money,promotion,visitors