How to Create a Payment Schedule in Microsoft Word
According to Daily Mail, forgetting to pay your bills on the dot can be a sign of Alzheimer's. If you want to avoid making late payments again, then a payment schedule is what you need. It helps you work on your budget, keep your bills and payments organize, and most importantly, it reminds you of your due dates.
Follow the guide below on how you can create a payment schedule in Word.
1. Familiarize Your Due Dates
To make a highly functional payment schedule, you need to familiarize your due dates first. Determine which payment comes first and which payment comes last. Identify the total amount you need to pay and the mode of payment. Put this on a list and write them down in order so it's easy for you to plot the data later on.
2. Form the Timetable
To form the timetable, open Microsoft Word and add a table. And be sure that there are enough rows and columns, and the cells are big enough. Then, put the title up top and insert the labels on the first row. Your labels could include the vendor's name, due date, billing month, payment date, payment amount, and mode of payment.
3. Make Your Final Adjustments
Finally, capitalize your labels and make it bold so it's easy to identify. And, use a color scheme to make it look lively and attractive.
4. Have Both Digital and Printed Copies
Provide both digital and printed copies of your payment schedule. A printed copy for you to post on your wall or provide to a certain someone, and a digital copy for an extra copy and so you can check it on your electronic devices anytime anywhere.
Are Loans and Investments the Same?
Investment is an act of purchasing an asset or item to generate an income. A loan, on the other hand, is a certain amount of money borrowed from a lender and is paid with interest. You can use your loan for investment.
What Happens If Your Credit Card Payment Is Late? And Can You Waive Your Late Payment Fee?
If you pay your credit card late, pay less than the amount, or don't pay your bill, you will be charged with a late payment fee by your credit card issuer. And it can be costly. The good news is, most credit card companies waive late payment fees in certain instances. All you have to do is call credit card support and request your late payment fee waived.
What Happens If You Miss a Loan Payment?
When you miss out on a loan payment, you will be charged with a late payment fee by your lender. However, this will not affect your credit rating right away as most lenders will not report your late payment fee unless it's 30 days past due. And when you do miss out, it will be added to your next payment.
What Happens If You Miss Your Utility Payment?
When you miss your utility payment, your utility company will charge you with a late fee. And if you miss it more than once, your services may be disconnected.
What Will Happen If You Miss Your Car Loan Payment?
If you don't pay your car loan payment on time, you will be charged with a late fee. Plus, your interest rate may increase. And if it's 30 days past due, your lender will report about the late payment to the credit bureau, which will affect your credit score.