Amazing, we are in the middle of another month. For me this means that I have more bills to pay. I am sure that all of you are aware of the dealines associated with the different bills we get.
Today is not a day of smiles as most people have to pay their mortgages of face penalties.
Penalties are free money to lenders for no other reason other than as a fine for not having paid on time.
I sometimes wonder why people who can't pay on time are the first to have to pay more.
At times I wonder why it's not the people that pay early that should be fine. (Aren't lender's making less money since they can't charge interest for a longer term.)

Actually, I advocate for no fees at all.

I am sure most of you are aware that if you pay a credit card late, they charge you anywhere from 15 to 40 dollars as a late fee. (Even if all you owed was $20.00). You should also be aware that credit cards will almost automatically hit you with the highest interest rate possible once you haven't made your payments.

Not only that, if other credit cards know of your default; other credit cards who are getting paid on time can also punish you.

Someone once commented to me that banks no longer make the bulk of their money from interest earned on loans, but rather from the fees they charge people when they pay late, when they default, bounced checks, etc. etc.

The lesson for the delay...STAY INFORMED.

That is the only way to get ahead these days.