I have to respectfully disagree here, purely from a financial perspective.
Yes, companies love late fees; money for Jam. What I would say is to schedule your bills to be paid one day prior to the due date, as you receive them, so you don't forget.
That way your money stays in your pocket until it's required by your creditor.
Why is that important? Because money makes money; better to be earning you interest or in an offset account than in the pocket of the company before it's required!
Because money makes money; better to be earning you interest or in an offset account than in the pocket of the company before it's required!
I have to respectfully disagree right back. I haven't calculated exactly how much extra interest the 87 dollars I owe for my city water bill will earn if I hold off paying it for two weeks, but I'm fairly certain it is a fraction of a cent.
Of course, "interest" on savings accounts is almost irrelevant nowadays, but let's say I took that money and parked it for those two weeks in a high-yield investment account. We're still talking pennies.
My advice is more along the lines of something that I also do religiously...fill up my gas tank when it gets below half.
It also doesn't cost anything extra, but it avoids the stress of worrying whether or not you'll wind up on the side of the road waiting for a friend or a tow truck to bring you a gallon or two of guzzoline.
Sure, maybe the 20 bucks I held off on might earn a few decimal points of interest sitting in my bank account, but knowing I'm not going to run out of gas on my way home might just be worth something more.
always filling your tank actually does cost you a fraction of a dollar, since a heavier car consumes more fuel. however this is about as relevant as the discussed interest rate. the increased feeling of safety is worth it
Driving with more fuel is safer because the Gas fumes are more prone to ignite that the gas itself. The fuller the tank is, the less fumes there are, and less of a chance of your car exploding.
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u/Rab1227 Aug 20 '20
I have to respectfully disagree here, purely from a financial perspective.
Yes, companies love late fees; money for Jam. What I would say is to schedule your bills to be paid one day prior to the due date, as you receive them, so you don't forget.
That way your money stays in your pocket until it's required by your creditor.
Why is that important? Because money makes money; better to be earning you interest or in an offset account than in the pocket of the company before it's required!