Every now and then we all forget to pay a bill or two if it is not sitting on a desk right in front of us. Now, on the surface this seems like no big deal, right? You’re late a couple of days or in the worst-case scenario, you forget about the bill completely until the following month.
Now, that’s where your troubles begin because once you become 30 days late, your creditors can tack on a hefty late fee which is often times larger than your monthly payment for the bill itself! Believe me, I’ve been down that road more times than I care to remember!
I’ve always had good intentions but when you have monthly bills numbering in the teens, you’re bound to overlook, misplace or forget to pay one or two of them. This can cause late fees to skyrocket and cost you money that could have been used to pay down other outstanding debt.
It’s a hard lesson that has cost me hundreds if not thousands of dollars in fees over the years until I stumbled upon a great money management app called Prism. Prism was not the first app that I’ve used to manage my money but it is without a doubt the best.
I have highlighted a few of Prism’s key features below:
1. Prism will notify you a few days in advance to let you know that a payment is coming due. Prism will send a second reminder on the due date if you have not paid your bill to date. This may not seem like a big deal but it has saved me hundreds of dollars in late fees which has indirectly contributed to improving my credit because I have stopped being late.
2. Once you have entered all your bills and payment options into Prism, you can pay each bill individually as they come due or pay them all on the same day through the app! Bill payments through Prism are 100% free and will usually post the same day or in 2-3 business days, depending on your biller.
3. There’s no need to keep track of paper bills, account numbers or multiple passwords for all your online accounts because they remain stored securely within the Prism app. Prism’s simple, clean design lets you know at a glance the exact amount you owe at any given time for a single bill or all bills combined. I am convinced that Prism is a “game changer” in the field of money management.
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