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I am debating how to pay bills..I have a desk that needs to be organized and while doing so I am debating on just having some bills come right out of my paycheck/checking account each payday.Does anyone else do this and do you like it better that way?
If not what system do you have for your bill paying,,money stashed back,bills lined up on a desk waiting for paydays etc.Im trying to get a fool proof system down for us.Thanks in advance for your help!
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Most bills can be paid online now. I would set online payments up where you send it to them online rather than them taking the money. That protects you from mistakes. If you get billed for $200 instead of $20, you don't want them to debit $200 and then have to try get that money back. Do you bank online?
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Hey there Donna,
I have used the Automatic Clearing House (ACH) to pay all of my bills for many years. I only write about 2-3 checks each year now. The rest are automatic. All I do is deduct that billed amount from my check register (checking act) using the date that is reflected in the bill. This method requires you to reconcile (balance) your checking account each month to make sure that there is enough $ in the account. This process takes about 5 minutes each month.
What's an ACH?
http://www.nacha.org/About/what_is_ach_.htm
Does the bank charge any fees for that service Micharch?
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Hey there Donna,
I have used the Automatic Clearing House (ACH) to pay all of my bills for many years. I only write about 2-3 checks each year now. The rest are automatic. All I do is deduct that billed amount from my check register (checking act) using the date that is reflected in the bill. This method requires you to reconcile (balance) your checking account each month to make sure that there is enough $ in the account. This process takes about 5 minutes each month.
What's an ACH?
http://www.nacha.org/About/what_is_ach_.htm
Does the bank charge any fees for that service Micharch?
No. It's all part of their basic service.
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I use the automatic bill pay provided by my bank. I had a good experience with Chase's interface. You just type in the name of the payee ( what you would put in the payable to: line on the check), their address, your account number for the bill, and the amount.
It then saves all of that information so that next time you pay the bill, you just have to put in the new amount. For bills that are the same amount every month, you can also set it up to deduct and pay automatically.
Saves money several ways. First, you don't end up with late fees because you forgot to send a bill in on time. Second, no postage. Third, you get back at least an hour or two of your life every month.
Can you tell I'm a big fan of online bill payment? :)
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I use the automatic bill pay provided by my bank. I had a good experience with Chase's interface. You just type in the name of the payee ( what you would put in the payable to: line on the check), their address, your account number for the bill, and the amount.
It then saves all of that information so that next time you pay the bill, you just have to put in the new amount. For bills that are the same amount every month, you can also set it up to deduct and pay automatically.
Saves money several ways. First, you don't end up with late fees because you forgot to send a bill in on time. Second, no postage. Third, you get back at least an hour or two of your life every month.
Can you tell I'm a big fan of online bill payment? :)
It shows. :) What's good is that you can do that when it suits your schedule too. No queues either!
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It would be a lot more comfortable for me to pay my bills by mailing checks and I am still praying for the day when e-checks will appear. The thing I hate most about paying bills now is not giving away the money, it the time I spend paying each of my bills.
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Hi ronny, welcome to billeater.com. :) Nice to meet you. Would you not like to pay your bills online instead? It's faster and as billeater says saves you the cost of postage.
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Plus with online payments you don't need to wonder if it's came out or got lost in the post. You get a confirmation there and then that it's being processed usually.
Nice to meet you, ronny! Welcome aboard. :)
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Hi there ronny from me. Welcome to billeater! I'll never like online bill paying because I'm old fashioned. But I do it. :)
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It would be a lot more comfortable for me to pay my bills by mailing checks and I am still praying for the day when e-checks will appear. The thing I hate most about paying bills now is not giving away the money, it the time I spend paying each of my bills.
I hate giving away the money way more than the time. :) Welcome to billeater ronny!
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Hey there Donna,
I have used the Automatic Clearing House (ACH) to pay all of my bills for many years. I only write about 2-3 checks each year now. The rest are automatic. All I do is deduct that billed amount from my check register (checking act) using the date that is reflected in the bill. This method requires you to reconcile (balance) your checking account each month to make sure that there is enough $ in the account. This process takes about 5 minutes each month.
What's an ACH?
http://www.nacha.org/About/what_is_ach_.htm