Forgetting your installments isn't a solution. Every time you dodge this obligation, your financial record takes the hit too. Here are some tips for paying off your installments so your finances stay healthy.

Tips for Paying Off Installments

• Make an installment recap. Don't let any installment slip your mind. Remember, every type of installment through a financial institution gets recorded in the OJK's Financial Information Services System (SLIK).
• Manage your finances by increasing your income, cutting expenses, and avoiding taking on more installments.
• Sell items or cash out your savings to pay off installments in an emergency.
• Use a priority scale to pay off your installments.

Tips for Setting a Priority Scale for Installment Payoff

When you have more than one installment, you can decide which to pay off first using these three approaches:

1. Amount — Pay off the smallest installment first, so it stays manageable, consistent, and gets resolved.
2. Interest — Pay off the installment with the highest interest rate, so the interest doesn't keep growing.
3. Due Date — Pay off the installment with the nearest due date first, so you avoid late fees.

Choose the approach that fits your financial situation best, or combine all three as needed. What matters most is that you don't pretend to forget your installments.