Comments on: 8 Ways to Make Bill-Paying Easier http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/ personal finance that makes cents Thu, 20 Nov 2008 07:31:56 +0000 http://wordpress.org/?v=2.5.1 By: ladyroo http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-137044 ladyroo Thu, 19 Jun 2008 15:15:28 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-137044 I used to be fully automated - most bills were paid automatically from my credit union checking, all the statements came electronically and I could monitor it all daily online. No muss, no fuss. Then my computer died. By the time I got it repaired, I was in a panic. Now I pay bills online as they arrive but NOT automatically, and I get paper statements so I know what is due and when, and can check for errors. I used to be fully automated - most bills were paid automatically from my credit union checking, all the statements came electronically and I could monitor it all daily online. No muss, no fuss. Then my computer died. By the time I got it repaired, I was in a panic. Now I pay bills online as they arrive but NOT automatically, and I get paper statements so I know what is due and when, and can check for errors.

]]> By: How to Make Your Finances Automagical | zen habits http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-84157 How to Make Your Finances Automagical | zen habits Wed, 18 Apr 2007 22:44:31 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-84157 [...] 8 Ways to Make Bill-Paying Easier [...] [...] 8 Ways to Make Bill-Paying Easier [...]

]]> By: Russell Heimlich http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9448 Russell Heimlich Mon, 02 Oct 2006 18:06:02 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9448 Maybe this can help? -> http://www.downloadsquad.com/2006/10/02/keep-track-of-bills-with-billq/ Maybe this can help? -> http://www.downloadsquad.com/2006/10/02/keep-track-of-bills-with-billq/

]]> By: luneray http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9329 luneray Sun, 01 Oct 2006 04:45:33 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9329 I have set up a savings account at my credit union that is used just for paying bills. The problem is that not all companies will do an automatic bill pay from a savings account, so those I pay by check (the old fashioned way). I was always misplacing bills, too. I set up a special tray next to the phone, or on my desk or...but nothing really worked because these are actually kind of out of the way places. One day I realized that I look at my kitchen calender several times a week, so I clip the bills to that. I get paid 2x a month, so bills that get paid from the first pay check are clipped to the top sheet and the others are clipped to the bottom. This has worked really well for me. I have set up a savings account at my credit union that is used just for paying bills. The problem is that not all companies will do an automatic bill pay from a savings account, so those I pay by check (the old fashioned way).

I was always misplacing bills, too. I set up a special tray next to the phone, or on my desk or…but nothing really worked because these are actually kind of out of the way places. One day I realized that I look at my kitchen calender several times a week, so I clip the bills to that. I get paid 2x a month, so bills that get paid from the first pay check are clipped to the top sheet and the others are clipped to the bottom. This has worked really well for me.

]]> By: Michael Langford http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9311 Michael Langford Sat, 30 Sep 2006 22:53:24 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9311 Sign up for a free, online bill pay service that uses YODLEE. I have access to it via Wachovia bank online. This will allow you to schedule regular payments on all my bills. I have setup a secondary checking account that automatically gets the correct amount transferred into it at the start of every month. Then, the automated bills are written out of that account, and I don't have to check anything. I can set alerts to let me know if the amount of the bill is greater than I expect. --Michael Sign up for a free, online bill pay service that uses YODLEE.

I have access to it via Wachovia bank online. This will allow you to schedule regular payments on all my bills.

I have setup a secondary checking account that automatically gets the correct amount transferred into it at the start of every month. Then, the automated bills are written out of that account, and I don’t have to check anything.

I can set alerts to let me know if the amount of the bill is greater than I expect.

–Michael

]]> By: my.dog.kaya » Blog Archive » link. http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9297 my.dog.kaya » Blog Archive » link. Sat, 30 Sep 2006 17:13:46 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9297 [...] here’s a good post from get rich slowly… some practical advice that i should put into place. [...] [...] here’s a good post from get rich slowly… some practical advice that i should put into place. [...]

]]> By: Russell Heimlich http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9260 Russell Heimlich Sat, 30 Sep 2006 03:18:19 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9260 My life is pretty simple right now and there are only two bills to pay, rent and credit card. I found the easiest thing to do is use Google calendar to organize everything, and have a seperate calendar for just bills. I make it red to stand out and make the event last all day to add emphasis. You can also set a reminder when you create the event to email you so you won't forget. If you have bills that are always due on the same time (like the 5th of the month) Google Calendar is great for stuff like this. If you need an invite just send me an email. My gmail name is kingkool68 (hope you can figure out my email from that). My life is pretty simple right now and there are only two bills to pay, rent and credit card. I found the easiest thing to do is use Google calendar to organize everything, and have a seperate calendar for just bills. I make it red to stand out and make the event last all day to add emphasis. You can also set a reminder when you create the event to email you so you won’t forget. If you have bills that are always due on the same time (like the 5th of the month) Google Calendar is great for stuff like this. If you need an invite just send me an email. My gmail name is kingkool68 (hope you can figure out my email from that).

]]> By: DollarBytes http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9253 DollarBytes Sat, 30 Sep 2006 01:06:44 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9253 Good intentions, but dealing with actual paper bills and checks is a waste of energy. Why not just sign up for electronic billing and pay them electronically? I can't remember the last time I wrote a check for personal bills. Good intentions, but dealing with actual paper bills and checks is a waste of energy. Why not just sign up for electronic billing and pay them electronically?
I can’t remember the last time I wrote a check for personal bills.

]]> By: finance girl http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9251 finance girl Sat, 30 Sep 2006 00:54:00 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9251 I'd also add "automatic monthly payment" to the list, for things you are comfortable having that for. I’d also add “automatic monthly payment” to the list, for things you are comfortable having that for.

]]> By: J.D. http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9246 J.D. Fri, 29 Sep 2006 22:41:57 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9246 For the record, I'm not a huge fan of prepaying either, but I think it's a good tool for some people, like my friend Mike. (Who is a real person, by the way.) It was also good for the old non-frugal J.D.: if I didn't prepay my bills with my Christmas bonus, I was likely to spend the money on something else. By spending the money where it had to be spent, I prevented further foolishness. It's not a necessary step anymore, I'm glad to say. For the record, I’m not a huge fan of prepaying either, but I think it’s a good tool for some people, like my friend Mike. (Who is a real person, by the way.) It was also good for the old non-frugal J.D.: if I didn’t prepay my bills with my Christmas bonus, I was likely to spend the money on something else. By spending the money where it had to be spent, I prevented further foolishness. It’s not a necessary step anymore, I’m glad to say.

]]> By: Susan http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9244 Susan Fri, 29 Sep 2006 22:13:15 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9244 I like paying my bills online--mostly through my bank, for my cell phone and credit card through their websites--because, to be honest, it saves me the price of a stamp and I'm stingy like that. (Actually, I just never have stamps for any other reason, and it's such a hassle to go get them.) I don't really agree with prepaying because I think it's important to actually look at your usage on each bill before you pay it, and if you're carrying a balance that might not happen. It could be much harder to get your money back if there's something you don't agree with. I like paying my bills online–mostly through my bank, for my cell phone and credit card through their websites–because, to be honest, it saves me the price of a stamp and I’m stingy like that. (Actually, I just never have stamps for any other reason, and it’s such a hassle to go get them.)

I don’t really agree with prepaying because I think it’s important to actually look at your usage on each bill before you pay it, and if you’re carrying a balance that might not happen. It could be much harder to get your money back if there’s something you don’t agree with.

]]> By: Tanya http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9238 Tanya Fri, 29 Sep 2006 20:47:50 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9238 I agree with prkinkbiz. Online bill pay has saved me the hassle of worrying about my regular bills with its recurring payment feature. My bank even sends me a notice the month before the end of a recurring payment cycle. It saves money in stamps and checks. I haven't reordered checks in two years, since I moved into my house. The best part is I have control of when all amounts are paid and don't have to worry when my credit card is expired or if it is stolen. I feel so much safer dealing with bills through my bank rather than my debit or credit cards. I agree with prkinkbiz.
Online bill pay has saved me the hassle of worrying about my regular bills with its recurring payment feature. My bank even sends me a notice the month before the end of a recurring payment cycle.
It saves money in stamps and checks. I haven’t reordered checks in two years, since I moved into my house.
The best part is I have control of when all amounts are paid and don’t have to worry when my credit card is expired or if it is stolen. I feel so much safer dealing with bills through my bank rather than my debit or credit cards.

]]> By: prlinkbiz http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9237 prlinkbiz Fri, 29 Sep 2006 20:29:40 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9237 I love online bill pay! It's so easy! The mail system hates me- my bills and checks were always getting lost- (I just discovered an "outside vendor" had changed my cell phone biling address, causing bill trouble!) Yeah- I am a fan of online banking! I love online bill pay! It’s so easy! The mail system hates me- my bills and checks were always getting lost- (I just discovered an “outside vendor” had changed my cell phone biling address, causing bill trouble!) Yeah- I am a fan of online banking!

]]> By: James Kew http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9233 James Kew Fri, 29 Sep 2006 19:47:21 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9233 I agree with Alan -- why hand them money early that could be working for me instead? The rational strategy to maximize my return is to pay just before the due date. But I don't think that's really what J.D.'s getting at here. His point is that if you're disorganized, you need a plan that'll work for you. Better to forego 5c of interest than to forget to pay on time and get hit with a $15 late fee. FWIW, I find Microsoft Money's bill calendar very useful for handling bills -- I have estimated payments set up for each bill, update them with the exact total and due date as the bills arrive, and then either write checks or make online payments as the bills come due. This does require me to actually check Money for any bills coming due, but as I typically enter my receipts into it every few days anyway this isn't a problem. I agree with Alan — why hand them money early that could be working for me instead? The rational strategy to maximize my return is to pay just before the due date.

But I don’t think that’s really what J.D.’s getting at here. His point is that if you’re disorganized, you need a plan that’ll work for you. Better to forego 5c of interest than to forget to pay on time and get hit with a $15 late fee.

FWIW, I find Microsoft Money’s bill calendar very useful for handling bills — I have estimated payments set up for each bill, update them with the exact total and due date as the bills arrive, and then either write checks or make online payments as the bills come due. This does require me to actually check Money for any bills coming due, but as I typically enter my receipts into it every few days anyway this isn’t a problem.

]]> By: alan http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9230 alan Fri, 29 Sep 2006 18:54:39 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9230 I would disagree with any advice suggesting you pay as soon as you get bills or to prepay. That's money that could be earning interest in an account. I always wait 'til the last minute. Sure it's just pennies, but they add up over time. I would disagree with any advice suggesting you pay as soon as you get bills or to prepay. That’s money that could be earning interest in an account. I always wait ’til the last minute. Sure it’s just pennies, but they add up over time.

]]> By: Maria http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9227 Maria Fri, 29 Sep 2006 18:34:56 +0000 http://www.getrichslowly.org/blog/2006/09/29/8-ways-to-make-bill-paying-easier/#comment-9227 I agree with all of these but my budgeting system allows me to pay my bills once a month and at the beginnign of each month. Because I am working with last month's income, there's no juggling of paydays and bills. It has sure saved me alot of time! I agree with all of these but my budgeting system allows me to pay my bills once a month and at the beginnign of each month. Because I am working with last month’s income, there’s no juggling of paydays and bills. It has sure saved me alot of time!

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