Automating your bills

June 30th, 2007 at 01:23 pm

Today as postage begins to get more expensive, and time is money why not automate you bill paying? For our family we automate all of our bills when we setup our customer accounts. Some examples of things to automate

1) Telephone bill
2) Cellphone bill
3) Car Payment
4) Car, home, life insurance
5) Mortgage
6) Student loan payments
7) Garbage hauling
8) Electric bill
9) Gas bill
10) Water bill

If you add up all of theses bills that you could automate you could possibly save (10 x .41 x 12) = $49.20 per year in postage alone. Not to mention the fees that companies charge if a payment is missed (which can range from pennies up to $39.99 for some credit cards. Along with that you have to consider time benefits. If 5 minutes per month is spent on each bill, then you could get back 10 hours of your life per year!! Over the course of ten years that can save you 100 hours or 4+ days.

Through automation of your bill paying you will be able to save time and money, and free yourself to do other things you enjoy or create new avenues of income.

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Posted in Uncategorized | 7 Comments »

7 Responses to “Automating your bills”

yummy64 Says:
June 30th, 2007 at 07:30 pm

I pay all my bills but my rent and visa by automatic debit and have for ages. So easy.
disneysteve Says:
June 30th, 2007 at 07:41 pm

I write 1 check each month for my mortgage payment (and I could be doing that online). Everything else is either automatically paid from my checking account or charged to my reward credit card and then I pay that bill online.

I stopped paying everything manually by mail many years ago.
honeichild Says:
July 1st, 2007 at 05:20 am

I don't automate yet but I do have bill payer set up through my credit union. It does save a lot of time.
monkeymama Says:
July 1st, 2007 at 07:46 am

I don't like to automate because I like to review charges before I pay them. But I do pay everything online except the gardener and preschool who I hand deliver checks to. Online Bill Pay or charge to credit (whatever I can - for rewards).

I haven't even used a stamp since the rate increase!
disneysteve Says:
July 1st, 2007 at 06:13 pm

monkeymama - Good point about reviewing charges, but most of the bills I have on auto-pay are the same each month - alarm company, gas and electric (budget plan), cell phone bill, home phone bill, water bill (varies slightly), etc. I don't auto-pay the credit card bills as I do like to review them first.
Joan.of.the.Arch Says:
July 2nd, 2007 at 02:41 pm

I have the impression that perhaps half of people who are online are now paying bills without postage. No one in this household has written a check since April 1, and that was to pay for the installation of new gutters & downspouts. They wanted the check in hand. Even some bills which are variable are on autopay. A credit card which we use regularly is set to be paid at just over the minimum payment, so that even if we should be unconscious in hospital, we would not miss a payment. Then when we actually sit to review bills, we have the bank pay the remainder through online payment.
roxy Says:
July 2nd, 2007 at 10:27 pm

I use autopay. It has been a great.
I have each bill adjusted over what my bills usually come in at,yet not enough to leave me stranded while doing so.
The overpayments help during the winter months when the income is not as "healthy".

Automating your bills

7 Responses to “Automating your bills”

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