Many of us drag our feet. Especially if it is something, we really do not like to do or just think we have time to do later. Eventually, it all creeps up on us and we either rush to get it done or give up on being on time all together. Procrastination is our enemy when it comes to our credit card payments.
[Read: Problems with Credit Card Payments?]
Why Procrastinate on Credit Card Payments?
Some people just hate to part with their money. When you think about it, they already spent that money so why not pay off the company who allowed them the ability to spend it ahead of time. There are circumstances where we can’t get to sit down right away and pay that credit card when the bill comes in and that is understandable, but don’t just toss it aside and forget it.
Some people even wait because they seem to like the pressure that it puts them under to do things at the last minute. In order to do this, though, we have to know when our credit card payments are due. If we are that precise, then we should be more than able to get that credit card paid in a timelier manner.
Then there are those who need to be in the ‘zone’ to pay bills. If that were the case for the bulk of the population, it would be more difficult for people to gain a credit card because I really do not know many who like the ‘zone’ except financial types.
Procrastinating with Credit Card Payments and the Consequences
When we are caught procrastinating with our credit card payments there are consequences that can put us into debt, if we are not already there. We will acquire late fees and interest. Not to mention, this will not look good on our credit report. If we are procrastinating with credit card payments, chances are, we are procrastinating with other things, as well.
If our check is not direct deposit, chances are we procrastinate getting our check to the bank. If we had to cover a bill and needed to put money into our account, we probably have procrastinated there, too. It is a bad habit to get into and it is a hard habit to break.
Another consequence of procrastinating when making credit card payments is the stress that this can cause. Stress can cause health problems. Not just problems with our heart, but problems with weight gain, seizures and even the brain tissue that regulates our emotions and self-control.
There is also the possibility that our practices of putting off our credit card payments may affect privileges to purchase in the future, our loved ones who depend on us, and disconnection of services because the payments may be held up. If procrastination is our downfall, imagine a somewhat angered spouse that we share a credit card with that has been frozen because we procrastinated in making that credit card payment on time.
How to Kiss Procrastination Good-bye over Credit Card Payments
1. Pay as They Come
This is a surefire way of leaving procrastination in the dust. When the bills come in, make it a point to make the credit card payments soon. That does not mean we can put it off. When we have some free time to sit and watch that movie or TV, or maybe read or relax a little after work. If you run errands, put this on your list, but make it a point that the credit card payments are made within the week they came in.
2. Automatic Payments
Instead of stressing ourselves out over our bills every month, set up as many bills as we can for automatic payment. This way we are not stressing over our credit card payments. This would also be a good time to set up our pay for direct deposit, as well. This way we have less to worry about and have cut down on added trips as well as getting that check to the bank on time. We can usually do this through our banking institution online.
As a reward, we could also designate a portion of our check to go into a different account (secondary, personal, savings) when we have made the credit card payments on time.
4. Payment Checklist
Whether we make up a list on a sheet of paper, find a list online or use a calendar, it is best to keep track of when bills are due and check them off when they are paid. There may even be an App for that from our credit card company. There are quite a few mobile calendar apps out there for bill payment.
5. Pre-Set the Amount
Do not try to go month by month to adjust the amount to pay. Predetermine the amount and stick to it. If we have to think about how much to put on that bill every time it needs to be paid, we will end up putting off making the credit card payments more often than not.
[Read: Consolidate Credit Card Debt Instead Of Sticking To Minimum Payments]
This is just as important as anything else is here. Share our goal with someone who will understand and support us and ask them to help us stick to our goal. Procrastination is one of the hardest habits to break because it has usually spilled over to other areas of our lives. We become passive and avoid doing things we know we should be doing. Having someone to support our efforts can help us get out of the rut and back on the road.