Definition
The date by which you need to make a payment on a bill or loan to avoid penalties or late fees.
What to consider
- Mark it clearly on your calendar to avoid surprises.
- Set up reminders a few days ahead.
- Plan your cash flow around these dates to stay on track.
Real world scenarios
- Jerome schedules auto-pay a few days before his statement’s due date, ensuring on-time payments that keep his credit score high.
- Nicole circles each bill’s due date on her calendar, preventing overlooked invoices from piling up.
- Before going on vacation, Miles pays all bills with near-future due dates, avoiding late fees while he’s away.
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