billing cycles

A billing cycle is the recurring period during which your financial institution or service provider tracks and records your transactions for billing. Typically lasting about a month, it determines when your statement is generated and how much you owe. At the end of each cycle, you'll receive a statement showing your purchases, payments, and any fees. Understanding your billing cycle helps you manage expenses, pay bills on time, and avoid interest or late fees. Your billing cycle duration can vary by provider, but it generally aligns with a monthly schedule for convenient financial planning.