Paying Bills

Reasons to Pay Your Bills

Just about everyone has at least 1 monthly bill that they must pay. Common bills include cell phone, utilities, rent, car insurance and loan payments.

It is important to pay all of your bills on time each month. Not only does it prove to everyone around you that you are a responsible adult, but it also keeps all of your services intact.

Paying on time translates to a lot of money saved. Not only will you avoid paying fees, but you'll also maintain a better credit history and score (this means better loan rates).

Automatic Payments

A great way to ensure that all of your monthly payments are made on time is to set up automatic payments. To schedule automatic payments, you generally must contact the billing company and ask them to do it.

Some common ways to set up automatic payments are:

• Look on your paper bill – sometimes the portion that you send back with your check will have a form to fill out to set up automatic payments.
• Look on the company’s web site for payment options.
• Set up automatic payments through your financial institution’s bill payment service.

When you set up automatic payments, you will need to provide the company with your financial institution’s routing number and your account number. Within about 1 to 2 months your bills will be automatically deducted from your account on a specific date and for a specific amount.

If you’re looking to save time, money and be eco-friendly, automatic payments are definitely a good idea for you.