It is quite a challenge for many people to pay their bills in a timely manner. While, it is learning curve, you can develop these essential skills by mere practice. If you are behind in your bills, it can affect your overall financial outlook on life. It can dampen your spirit and elevate your stress. If you have a bill to pay, it is best to pay it on time before it accumulates and end up being a debt that you don’t want to carry. However, there are times when this is unavoidable, especially when there is a family emergency or some financial urgency that causes you to use up the very resources that you depend on for future needs. Staying current with your power bill or utility bill or electric bill as some call it, takes discipline and organization. It is best to keep a reminder of the dates when your household bills need to be paid. Don’t just rely on memory or you can forget to pay the bills and then it gets out of hand, becoming too much to manage. It is then that you have to turn to other financial sources for help on how to pay power bill.
Remain Consistent to Pay Power Bill
Yes, it can be difficult to manage and monitor your bills, which will usually pile up. Below, you will find several tips on how to pay power bill when they are necessary and how to pay them so that there is no excuse because of the number of options that you have available to you. Select the payment method that is right for you and let that be the ‘go to’ method each month so that you can stay consistent.
Specific Program to Pay Power Bill
Some utility companies give you the option to pay power bill by spreading it over twelve months each year. Therefore, a specific amount is due each month. So, instead of reading your meter, the company will put you on the budget plan and you pay a lower amount each month. The power company takes different months into consideration. The high utility bill that you would accumulate in the summer months are tabulated and added to the lower bill that you would pay in the winter months. The electric company assesses your past bills and then averages the amount by dividing it into twelve months. You can use this average amount to pay your power bill for the entire year since you already know the amount to pay power bill.
If you want to stay on top of your power bill, you would then set up automatic payment to be withdrawn from your account. The electric company will need your bank account number as well as your routing number. This gives the bank authorization to pay out the amount to the power company. However, if you don’t have sufficient funds in your account, this could end up costing you overdraft fees.
Bill Payment Center
You can use a third party vendor known as a bill payment center to pay your utility bills including your electric bill. Usually, these vendors charge a fee to pay and the cost is generally $1.00 or more. However, be careful with these bill payment centers because some of them will hold your payment and this could affect your due date, making you late when in fact, you were not. For example, if you paid on a Sunday or holiday and the electric company is not opened, the bill payment center will wait until the next business day to process your payment.
You can use your debit card to pay your power bill, if you have no cash on hand. However, make sure that you have money in your bank account before you think about deciding on this option.
In Person Payment
You can go directly to the electric company to pay your bill by check, debit card or credit card. The customer service line could be longer than expected, especially as difficult if you went during your lunch hour and you have to go back to work. If you have issues with your bill or want to arrange partial payment, that is additional time that you have to wait to discuss this with a staff member.
Many power companies have online options to pay your power bill. However, you have to go directly to their website and sign up for an account. Usually, this is convenient because you can check your account and pay your bills at any time 24/7. However, if you have questions or need to speak to a representative about payment arrangement, you may have to call directly to get those answered. To pay your bill, you would log on to your account and use the ‘pay bill’ feature. You would do the same thing to check your meter readings and bill summary.
Credit Card Payment
Some power companies will charge you an additional handling fee if you make payments by credit card. In any event, paying by credit card will only add a balance to your credit card. If you don’t want to get further into debt, this option should be avoided.
Pay Upon Receiving a Bill
You can write out a check for the amount that you see on your bill. You would then mail the check to the power company before the due date. Allow yourself at least three to five business days so you are not late on your payment. Drop off the mail yourself and don’t ask someone else to mail it for you. They could forget.
Separate Bank Account
If you find yourself struggling with bills, it is best not to ignore the issue. It won’t go away. It will actually worsen. It is easier said than done to that you should try open up a special bank account just to pay bills. You will need to deposit money into this account to pay the bills. This option is ideal if you are organized and will be consistent in transferring or depositing the right amount to cover your bills.
You can use a title loan to pay your power bill. This is one of the ways that consumers have chosen because the process is fast and efficient. How does it work? Well, if your electric bill has been backed up and the power company is threatening to cut off your electricity, the fastest method of preventing this is to apply for a title loan. You would use your vehicle as collateral for the loan. There is no credit check and the application process is simple. Therefore, approval is fast and could be as soon as within 24 hours.