Sometimes the problem is not that you lack enough money for the month. The problem is that your bills are due before your paycheck arrives.
Imagine that you are paid on the 10th and 25th, but your car insurance, phone bill, and credit card payment are all due during the first week of the month. You may run short even though another paycheck is only a few days away.
That timing mismatch can lead to overdraft fees, late fees, cash-advance charges, or payday loans.
One possible solution is to ask your creditors and service providers to change your due dates.
Call the company and say:
“I am paid later in the month, and I would like to avoid missing a payment. Can you move my due date to the 12th?”
Many credit card issuers, lenders, utilities, phone companies, and insurance providers may allow customers to select or request a different due date. Policies vary, and the first billing cycle after a change may be shorter, longer, or for an unusual amount. Ask the company to explain exactly what will happen.
Suppose changing a bill’s due date helps you avoid one $35 overdraft fee every two months. That would save $210 per year. Avoiding even one payday loan or expedited cash-advance fee could save more.
Try to spread large bills across your paychecks instead of placing them all in the same week. For example, schedule housing and utilities after one paycheck, then insurance, phone service, and debt payments after the other.
A due-date change does not reduce the total amount you owe. It makes the bill fit your cash flow better.
Make the request before you are late. Companies are often more willing to work with customers who contact them early.
Sometimes financial progress does not begin with earning more or making a painful cut. It begins by making the calendar work in your favor.
