Someone told me that it improves your credit score/rating if you pay bills earlier than the due date. For example if your credit card bill comes in on the 1st first, is due on the 25th, and you pay it on the 5th (20 days early) rather than the 25th (due date) it improves your score/rating. That this is the same for mortgages, car payments, etc.
I always pay mine on the due date or a day or two before. I thought it was good cash management. Not that I have a lot of cash to manage…
Does anyone know for a fact if this is true?
I wouldn’t bet my house on it, but I want to say that I heard once that it doesn’t reflect early payments, only that the payments were made as agreed. Sometimes it’s even beneficial to apply for one of quick cash loans online to pay your bill on time. Also, I’m pretty sure, your report won’t reflect if you pay more than the amount due – only, again, that it was paid as agreed, or “within terms”.
As for me, I do pay up early, and I add another payment in the middle of the month. It keeps it going down and down and down…..
And for what is not there, you have to use your heart and mind and your conscience.
My mother and father were educated at a religious college. My father also had a masters from a seminary. When it came time for me to decide about college, because I would not go to a religious college, as I did not want a religious occupation, they refused to help me with college at all and told me they would not even let me live at home if I attended the local community college. I was expected to go to religious college, marry a minister and that would be my life. Did I want to live my life with another domineering, authoritarian man? They made my childhood hell and I’d rather have died than to spend my whole life that way. So I was cut off when I was 16, nearly 17.
I got married, had a child, divorced and spent many years struggling at lower-level jobs while I raised my daughter. When it came time for her to go to college, all I could offer was free rent. She went to work and school for a while, got her AA degree, worked some more, then went into the military and did her 4 years, came home, went to the local University and with her military benefits and loans and part-time work, finally got her degree last Spring. She is 36 this year, not married and no children. It has been a long hard road. If I had been able to help her earlier, she would not have had to risk her life in the military. If I had been able to help her earlier, she may have already been on her career path and might have already started a family. Sometimes better late than never does not completely apply. Sometimes you just lose out on parts of your life you should have had.
I deeply regret that I wasn’t able to help her more. I would have been able to help her more if my parents had been willing to help me get my college education. I know it is not always possible, but it is my heartfelt belief that there is nothing more important a person can do for their children than making sure they complete their education as far as their capabilities and interest go. It is not a legal obligation but a gift of love and many people are willing to sacrifice for that so that their children and hopefully future grandchildren will not have to struggle as much.