Here’s some nice news: It may be possible to change the due dates of some of your monthly bills.
This might come as a relief if you find that the bulk of your bills are due around the same time, such as early or late in the month, making cash flow a challenge. Or, perhaps you have some bills that are maddeningly due a couple of days before you get paid, which can also cause money management issues. Being able to spread out your bills, or push one or two due dates a few days further out, could give you some helpful breathing room.
These adjustments may be possible. Though not every company will allow you to change your billing due date, it doesn’t hurt to ask. Here’s a closer look at why you might want to change some of your bill due dates and how to do it.
Can You Change the Due Dates on Your Bills?
You may be able to change the due dates on some — or, if you’re lucky, all — of your bills. Each company will have its own policy. To find out what’s possible, simply reach to customer service via phone, email, online chat, or even old-fashioned letter. If the service provider is local, you may also be able to make the request in person. Your request may well be honored, down to exactly which day of the month your bill is due.
However, setting your own bill due dates is never guaranteed. Many companies offer this service as a courtesy to loyal customers, but they have the right to reject your request.
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Why Might Someone Change the Due Dates of Their Bills?
Here are some reasons why you might benefit from changing the due dates of some or your bills.
Aligning Better with Paydays
If your bill dates are not aligned well with your paydays, you may find that you don’t always have enough money in your checking account to cover your bills when they are due. If you struggle with spending and budgeting, it could be helpful to schedule bills shortly after a payday. That way you won’t accidentally spend money that was earmarked for bills later that month. Scheduling your bill paying like this might help you better manage your money and make your bill payment on time.
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Convenience
While some people like to stagger their bill-paying throughout the month, others find it more convenient to pay all of their bills at the same time each month. A single due date each month for all of life’s bills could certainly make them easier to track and remember.
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Ability to Spread Out Payments
While paying bills all at once — like right after payday — might make it easier for some people to stay on top of bill payments, others may prefer not to have their bank account significantly drained on a single day.
If you’d prefer to have your due dates spread out throughout the month, it may be worth trying to change some of your due dates. This could be especially helpful if your paychecks are irregular — say, if you are a freelancer who depends on clients paying their invoices before you have cash in the bank.
Remembering Pay Dates May Be Easier
Regardless of when you arrange your bill due dates to be, it will likely be easier for you to remember them if you get to pick the dates. By picking an important date, like the first or last day of each month or the day after payday, it may be easier for you to stay on top of your bills, even without reminders in your phone or on your calendar. And if you sign up for automatic bill payment, it might be a totally seamless process.
Benefits of a Bill Date Change
So what are the pros of changing a bill due date?
• It puts you in control of your budget.
• It can make remembering due dates easier.
• It might help you avoid missed payments and late fees.
Drawbacks of a Bill Date Change
So are there cons to changing a payment date? If you are making the conscious decision to change your billing schedule, you likely have a good reason for it — meaning you probably won’t encounter any drawbacks with the bill date change itself.
However, you might find that you spend a lot of time trying to get a company to change a bill due date, only for them to say no. This could lead to wasted time and effort.
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When to Schedule New Pay Dates
When you should schedule new bill pay dates will depend on your own paycheck schedule and personal preferences. The Consumer Finance Protection Bureau (CFPB) offers a helpful worksheet for organizing all your current bills and due dates. Seeing them on paper may help you determine the best date(s) in your calendar month for bills to process.
Tips for Changing Pay Dates
Changing payment dates require a little bit of effort but can pay off by helping you gain better control of monthly bills like rent, utilities, subscription services, and even credit card payments. Here are a few tips for changing your bill due dates:
1. Get organized. A good first step is to make a list of all your recurring payments. When organizing your bills, you might want to create a master calendar that includes when each bill is due every month, as well as when your paycheck(s) are deposited. This can help you determine the ideal dates for bills to process.
2. Decide which bill dates should change. Once you have a list of all your recurring bills and paydays, you can more easily identify which bills need to change. From there, you’ll want to investigate whether the company will even allow you to change due dates. You may be able to find this information on their websites.
3. Make the necessary requests. To get your due dates changed, you’ll need to contact the company by phone, email, online chat, or letter. If you aren’t sure what to say, the CFPB offers a useful script: “I am requesting a change in my bill payment due date for my [company] bill. I would prefer to have my bill payment due date be on the __th of each month. Thank you for your assistance.”
4. Set up autopay. If a service provider has an automatic bill pay option, it might be a good idea to schedule this. How bill pay works is that you schedule electronic payments in advance so you don’t have to manually transfer funds or write a check as your due date approaches. It can be an especially good option if you have a bank account with no-fee overdraft coverage. Because of the risk of overdrafting when you set up autopay, however, it might only make sense if you regularly keep more than enough funds in your checking account to cover monthly bills.
5. Schedule reminders. Once you’ve changed your due dates, it’s a good idea to schedule reminders in your phone or on your calendar ahead of the payment date. This allows you to make sure you have the funds in your account ahead of an automatic payment or reminds you to manually complete the payment (online, by mail, or in person) if you don’t have autopay set up.
Can You Always Change Bill Dates?
Many companies will allow you to change bill dates to a schedule that makes sense for your finances. However, no company is required to do this. You may encounter some service providers that do not allow you to change bill dates.
What if You Can’t Change Your Due Date?
If you cannot change your due dates, you can still take some actions to ensure you pay all your bills on time, such as:
• Setting reminders: If you often forget to pay your bills on time but have the funds available, you may just need to schedule reminders for yourself ahead of the due date. Putting a recurring reminder in your calendar (perhaps the one on your phone) can be a wise move.
• Setting money aside until you need it: If you can’t resist the temptation to spend the money available in your checking account and often struggle with a low current or available account balance on the day that bills are due, it might be wise to move money to a separate account for paying bills. And of course, don’t touch those funds for any other sort of spending.
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FAQ
How easy is it to change the due date for your bills?
Changing the due dates for your bills can be as easy as making a phone call or sending an email to the service provider. However, not every company allows you to change your bill due dates. It is solely done at the company’s discretion.
Can I pay my bill before the due date?
Yes, if you are worried about missing a payment or spending too much money before a bill is due, you can make an early bill payment. This can help you avoid late fees and develop good financial habits.
Is it better to have your bill dates close together or spread out?
It depends on your financial situation, including your pay schedule and spending habits. Some people may prefer their bill dates to be close together (even on a single day per month) while others might benefit from having them spread out throughout the month.
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