One of the most important parts of managing your debt and keeping your credit score clean is to pay on time.  I know that this can be difficult for those living on a fixed budget especially if your bills and debt far out weights your income.  However, one of the first steps to getting back on track financially, getting out of debt, and keeping your credit in tact is to pay all of your bills on time.  

Paying your bills on time not only ensures that you are not charged late fees or penalties but it also helps to keep your credit record clean.  If you are behind on any payments your first step should be to get current, then you will want to pay on time monthly and make at least the minimum monthly payments.

In order to “get ahead” you might also want to pay “extra” payments if  you can work it into your budget.  Writing out a written budget can be a great step towards managing your debt and getting on top of it as well.

Photo credit: lusi