I recently posted Who else wants to simplify their bill paying? discuss how to set up a simplified bill paying system. Now would like to show you how you can automate your bill paying system to make it easier to simplify your personal finances. Here are five ways you can automate your bill paying system and eliminate the need to write checks which can save you time and money.
Use bill pay service – Sign up for one of the many bill pay services now available to help you with your bill paying. By using bill pay service, you will eliminate the need to sit down with your check book and write out those monthly checks to pay bills. By using bill pay service you can almost eliminate your check book for good. Check with your current bank first to see what bill pay service they offer you as an existing customer.
Set up alerts and reminders – Begin using a reminder services or set up your own personal reminder service with an online calendar such as Google calendar. Use the calendar to remind you when the bill will be due or remind you to make sure the bill payment service your using has paid the bills you have set up. Using reminders and alerts, you eliminate the chance of you forgetting to make payment. Setting these alerts up properly there will be no more excuses for those late payments.
Use credit card – Have your bills charge directly to your credit card. By using credit card you will not have to remember to pay multiple bills. You will only have to remember to pay one bill which makes it easy. You also will not have to worry about your payment being delayed in the mail because payment will be charged to your credit card.
Use auto debit -If your not comfortable using your credit card to pay your bills, consider having your bills auto debited from your bank account. Using auto debit as your method of paying bills, will eliminate the need to write checks as well as stress worrying if payment will arrive on time.
Eliminate your paper statements – Now that you have eliminated the need to write checks to pay your bills by using credit cards, bill pay service, or auto debiting your bank account your still spending time every month filing away those paper statements. If this is the case, you can eliminate the paper statements by signing up for paperless statements. Instead of receiving your monthly statments by snail mail, you will receive your statements by email. This will hopefully eliminate the need for you to spend time manually filing away those paper statements. If you want to keep copies of your statement set up files on your computer to maintain these statements.
By implementing these simple tips, you can save yourself valuable time each month. Instead of paying bills you can spend those extra hours doing something you enjoy. Also doing this will make your life less stressful since you are not worrying if a bill was paid or rushing to post office to make sure your payment will arrive on time. So take action by implementing one of these five tips so you begin to live a simplified financial lifestyle as well as save time, money and have less stress.
Which of these five tips have you implemented to simplify your bill paying process?