It is more important than ever now to protect your credit and learning to consolidate bills is an excellent way to ensure that you stay on track financially. If you have lots of different bills and credit accounts, then you probably already know that making sure that they all get paid on time can be a huge headache every month. However, with a little reorganizing and consolidating, you will save precious time and hard earned money. Plus, you are much more likely to have all your bills paid on time.

It is helpful to have some sort of guide to how to consolidate bills when getting started, because you will need to consider a few things. One of the very first things that you will need to do after deciding on bill consolidation is to make a list of all the bills that you are responsible for on a regular basis – such as rent, mortgage, car payments, insurance, etc. Once you have completed your list, you may find that some of your bills are unnecessary and can be eliminated; and you may be able to combine some of the others.

One culprit that many people discover is draining their finances when they initially consider bill consolidation is credit cards and store charge accounts. Having more than 2 or 3 credit cards is unnecessary and creates extra expenditures – think of the balances and the accompanying interest rates, and it is easy to understand why so many people struggle to lighten the burden.

When consolidating your credit accounts, always keep the older cards with an established history of good credit. If you need to cancel accounts, cancel the newer accounts. Another option you might consider is transferring the balances to one card with a lower rate, so that you are only responsible for one bill. Since most stores accept major credit cards, it is not really necessary to have store charge accounts, but if you must, limit yourself to one favorite.

Bills such as cable, phone, and the Internet can often be combined into one package that saves you more money. There are even plans that will allow you to bundle your mobile plan with the same package. If you choose a separate company as your mobile provider, though, be sure to select a family plan if you require more than one cell phone.

In a society where people are saddled with enormous amounts of debt since credit is easier to obtain, you may not think so much about paying for your purchases in cash. Yes, paying cash is a wonderful approach to consolidating and eliminating bills. You will not have to worry about that bill later if it has already been paid for with cash.

To help eliminate your debt even more quickly, consider making extra payments on your mortgage and/or car loans. You could also opt to pay more than necessary when paying these bills. Both of these practices will help you cut down on payments and pay off those loans more quickly. You might also consider paying things such as your insurance either quarterly, biannually, or annually since it is often cheaper to do so.

Even if you follow the tips in this article, you may still need to know more about how to consolidate bills. In this case, seeking the help of a professional debt counselor may be beneficial. Be sure to check credentials and get recommendations if you choose this route, though. Keeping all of these things in mind will help you to consolidate your bills efficiently and achieve your financial goals as quickly as possible.