No one likes the idea of having to spend hard earned money on paying a whole bunch of bills. Nonetheless, they must be paid and if you want to maintain a good credit rating you must do so on time every time. Paying bills and doing so on time can be done hassle free. You can even have some fun doing it. Here are five tips for paying your bill in record time.
Set Up Automatic Bill-Pay
There are two types of automatic bill pay. They can be considered “Push” and “Pull”. “Push” is scheduled with your bank and it pushes the money from your account to pay your bill. The second is “Pull” and this is set up with the company that you owe the money and they pull the money out of your bank account.
If it is a small company you may have to schedule a push transaction but larger companies like banks, credit card companies, apartment complexes, electric companies, phone companies and cable companies usually offer some sort of bill-pay option that allows money to be taken out of your account automatically. This way, you don’t have to worry about forgetting to pay your bills on time. Also, because this is more reliable for them, some of these companies might even offer discounts off your monthly bill if you have your payments come out automatically.
Pay Your Bills with Your Cell Phone
Some companies and banking institutions actually have mobile apps that you can download to your phone and help manage your services and bill pay. If you have a smartphone, whether it be an android or iPhone you can take advantage of this option. You can pay bills anywhere with just a few clicks on your mobile device.
Caution: Pay close attention to whether you are automatically logged on your different accounts. If you lose your phone, you wouldn’t want someone else to have access to transfer money from an automatic login.
Electronic Checks
Another option that many banks are offering is the ability to pay monthly bills using electronic checks. This is similar to the “Push” option but works for smaller companies and individuals who are not part of the “ACH” banking system.Your bank’s bill pay system will generate a check for you and mail it to the proper destination for you.
You can even use the routing and checking/savings account number from your bank account to pay your bills. Some companies will pull money from your account if you provide them with just these numbers. Just be sure you keep a good track of any money that you are transferring online.
Pay with Personalized Checks
From time to time, we have to use actual paper checks in order to pay our bills and although it won’t save you any time you can make it more fun by using an option like checks with Disney characters, your own picture or some other personalized picture.
Use Bookkeeping System
If you are managing a large household or a small business, look into using some sort of user-friendly bookkeeping system to manage your monthly bills and other related expenses. These systems help you keep track of your bill payments, tax returns, cash flow, etc. This is a perfect solution for a married couple with children, small business owners and freelance contractors that have complex billing issues every month.
There are many more creative and fun ways you can employ to help you pay your bills. Nonetheless, keeping these suggestions in mind when it comes to paying your bills every month will help you get done in record time with a minimum of hassle.
See Also:
- Banking Online
- What Is the Best Bank Account for You?
- Top 5 Personal Money Management Software Programs
- Choosing The Best Bank
“Mobile Banking” courtesy of ddpavumba / FreeDigitalPhotos.net
