Late fees have been a real headache for me lately. With payments for vendors and subscriptions due at different times, I’m constantly worried I’ll miss something.
Wondering how others manage their payment schedules to keep everything on track and avoid those annoying fees.
I just pay everything when I get the invoice.
I set up all my business payments to go out on the same two days each month - the 1st and 15th.
Most vendors will let you change your due date if you call them.
For the ones that won’t budge, I move the payment date back by 5 days in my calendar. So if rent is due on the 10th, I schedule it for the 5th. Gives me a buffer.
I also keep a simple list taped to my desk with vendor names and amounts. Cross them off when paid. Low tech but it works when you’re juggling everything yourself.
I pick one day every week to handle all payments at once. Usually Friday mornings when things are quiet.
Set up calendar reminders three days before anything big is due. That way if cash flow is tight, I have time to move money around or contact the vendor.
For subscriptions and regular bills, I try to negotiate payment terms that work better for my schedule when I first sign up.
Autopay can save you a lot of trouble. Just double-check your balance to avoid overdrafts.