Budgeting, expenses, Tips

Late Fees are a Big Price to Pay

Today, I’d like to talk to you about paying late fees and other sneaky ways companies charge you big prices. Do not pay late fees. Make sure that as you’re paying down your debt, your first priority is always paying everything on time.

  • Many companies, raise your rate and charge a late fee. Make sure if this happens, you call and complain about the rate. You can also, depending on your history, ask them to waive the late fee. Occasionally, some companies will waive the late fee.
  • Regular late fees can really add up to a lot of money. Analyze how much you’ve paid in late fees this year. And, make a goal to start paying all of your bills on time and even a little early.

Paying late fees is similar to one step forward, two steps back. It is important to pay your bills on time every month.

Also, let’s talk about check cashing companies. I can’t believe these are still in business. Yet, they’re building a brand new one by my house. The interest rates on cashing post-dated checks are astronomical. And, they suck you in making it nearly impossible to pay it off the next month. So, you just stay in this cycle and continue to pay the high interest rates. Make a goal to get out of this debt first.

Don’t pay late fees and don’t pay check cashing fees. Your financial life will be better when you’re not sucked into these high interest fees and charges.

I can calculate how much these crazy fees and interest are costing you. Contact me for a budget coaching session. I can also e-mail you the loan calculator that helps you see how quickly you can pay off your current loans.

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