It's important to take your BCP at about the same time every day, but it doesn't have to be morning.
You should read the information sheet that comes with your prescription, but most of them say the same thing about missing a dose: Take it as soon as you remember it, take your next dose when you would've even if you hadn't forgotten the day before, and--just to be safe--use a back-up method of birth control.
With traditional pills, every fourth week is either a placebo pill or no pill, which causes a withdrawal bleed. Nowadays, though, there are some pills that are packaged in a way such that you only have a withdrawal bleed four times a year.
Side effects vary...mine were actually great: Cleared up my skin and kept the PCOS symptoms I would eventually discover once I stopped BCPs at bay. Again, I suggest reading the package insert for more info about side effects.
HTH!
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