Paying bills is a task that most people will have to handle sometime in their life. However, the assumption has become that the task is simple, and requires no preparation, training, or even discussion.
In today’s society, the belief is that paying or not paying bills is a money issue. “People who don’t pay their bills, must not have any money, right?” Don’t fall into believing this myth. You’d be surprised how many people with money can’t get their bills paid on time.
Paying bills can be complicated – paying bills has become a more complex task than it was for our parents. With on-line banking, automatic deduction, and debit cards there are many ways to pay bills. Do you understand the rules involved with all these methods?
More bills at a younger age – Years ago, people didn’t have bills until they got married and moved into a house. Nowadays young adults can have a mailbox full of bills before they move out of their parent’s home. Phone bills, car payments, auto insurance, credit cards, student loans, and more. There’s a lot more to manage, and young minds aren’t always prepared for that responsibility.
Banks and credit card companies – yes, these institutions can be a big part of the problem. Companies have caught on that big money can be made from loans - especially the high-risk kind. Banks are more willing to give credit cards and make loans than ever before. The interest rates and fees involved ensure that anyone who doesn’t stay on top of paying their bills can really pay a price.
Paying bills is not a money issue, it's an organizational issue. Staying organized so your bills get paid is a skill that actually needs to be taught.