A billing cycle is the period between two consecutive billing statements for a service or account. It typically lasts about a month, during which charges for services, purchases, or usage are accumulated. At the end of the cycle, a statement is generated, detailing the total amount due and the payment deadline. Billing cycles are common in various industries, including credit cards, utilities, and subscriptions. Understanding your billing cycle helps you manage payments and avoid late fees. It also allows you to track your spending more effectively, ensuring you stay within your budget.