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Put Your Bills on Auto Pilot

September 28, 2009 | Financial Tips | My Ramblings | No Comments

From time to time over the years I would forget to pay a bill on-time and would incur a late fee.   One of the reasons is that the bills all had different due dates.  I hate paying late fees so I’d always call the company charging the late fee and request for them to remove it.  Most of the time they will remove the late fee, but this takes unnecessary time to do.  

Now I don’t have to worry about this because thanks to technology all my recurring bills are paid automatically.  I’ve put my bill payments on auto pilot.  No more remembering to pay the bills, writing checks, buying stamps and mailing the checks.

I use 3 credit cards which are paid automatically.  Of course before the bills are paid I’ll review it to make sure there are no fraudulent charges.  My mortgage, satellite, phone / Internet, cell phone, gym membership, water, electric, garbage and home alarm are all paid automatically.

Most companies will offer auto-payment which will bill your credit card or deduct the money from your checking account.  If a company doesn’t offer auto payment I’ll setup auto payment via my bank account.  For instance, my water company doesn’t offer auto-pay, so I set up an auto-payment in my bank account to send a payment every month of $50.  My water bill fluctuates below $50 so I carry a credit in my account.

Having my bills on auto pilot saves time (no writing checks, mailing checks or calling for a late fee to be removed), money (no late fees, buying stamps, envelops, and driving to the post office) and having to remember to pay bills.

Related Article: Five Things I Don’t Like Paying For





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