WisrCredit Bootcamp Week 4

While none of us love household bills, we probably should deal with them sensibly. Letting them build up until you have a backlog of unpaid bills could be disastrous, for now and the future.

We know that with the cost of living is generally escalating, and wages staying pretty flat for many, it can be very difficult to meet everyday expenses.

A sensible way to respond to this is with careful and diligent planning. It may be time to grow up folks. By budgeting and accounting for all of your outgoings and incomings, you will be able to make sure that you never end up in too much financial difficulty! That’s the plan anyway. And knowing how to deal with bills, and which ones to prioritise, can help keep you in financial shape.

So, this week we look at the important subject of payment planning, and tackling the key issues related to it.

Step 1 – Test your knowledge of payment planning

Step 2 – Understand why planning your payments and settling your bills is important

First and foremost, failing to pay bills on time could result in a detrimental impact on your credit score. Any accounts that you fail to settle on time maycreate black marks on your credit report and these can have a knock-on effect on your financial fitness.

Many mortgage companies have begun refusing applicants who have any unsettled credit agreements within a certain time period. While there maybe lenders who specialise in taking on bad credit clients, you can expect to pay significantly more per month in order to secure these deals.

So it makes sense to ensure all of your bills are paid in a timely fashion. This will keep your credit rating in a good spot, which can ultimately save you money when you do need to obtain credit.

Plus, when you fail to pay the bills on time there can be lots of other consequences. Creditors can take legal action against you, causing both stress and potentially even more expenses. Yikes, no one wants to be in that situation!

In some scenarios, providers will even consider ceasing important services should you fail to settle your accounts. Staying on top of bill payments will help avoid this, helping keep your financial health on track.

Step 3 – Quick tips to stay on top of household bills

  • Set up autopay: It’s a no brainer!
  • Change your bill cycle so that bills are due after you get paid: This way you ensure that you always have the money to pay your bills!
  • Set up reminders on your phone: This just helps you double check that you have paid them and you can tick it off your to do list.

Step 4 – Stay up to date

Follow the Wisr Facebook,   Instagram and Twitter pages, and you can check out all of the most important information on how to deal with bills and payment planning.  Talk to us on those channels anytime!

We are here for you.

Disclaimer: This article contains general information only, and is not general advice or personal advice. Wisr Finance Pty Ltd does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.


Looking for a little financial fitness? Our six-week bootcamp could be just the thing you need to kickstart your credit score.

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