Page 20 - Book11E

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• One-time and periodic payments can be set up months in advance.
• You don’t have to save your paper bills to remember to pay them each month, but most companies will continue to mail out your paper bills for review if you prefer to keep them.
• You can choose exactly when you want your payment to be deducted from your account—on payday for example.
• With access to the Internet, you can view your statement and check your balance anytime.
• Making sure your bills are paid while you’re out of town is no longer a problem. That means there are no bills to catch up on when you get home.
• You will be buying fewer stamps, which will save you a little money. If your bank charges you for checks, you will also save money there. It’s not a huge savings but it could cover a night at the movies with the kids.
• You’ll also save a little time each month that you would have spent paying the bills. You can focus your time and energy on other things instead of facing the draining task of paying bills every month.
• Your credit report will improve because you are paying your bills every month and on time.
Disadvantages of paying your bills online:
• You need access to the Internet, which is available at most public libraries if you don’t have it at home.
• Depending on the services you sign up for, there may be a monthly fee. But, considering the savings of your time, energy, and peace of mind, it may be a small price to pay.
If you’d like to try automatic bill pay, check with your financial institution to see if it’s available for you.
One Penny at a Time