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Quick Money Tip: Automate Your Payments + Save

Bills. You fork over enough money paying them month to month as it is. But fall a few days behind or forget a month or two, and you won't only have to cough up more cash for late fees, you'll also risk damaging your credit score.

Automating your payments through services like Online Bill Pay and Mobile Bill Pay at your financial institution are a quick and simple option to ensure you're paying only what you owe towards your bills each month, on time. Not to mention, you can forget about drowning in paper statements.

Automate Payments | Image source: / Photographer: Andrey_Popov

In addition, some creditors (electric companies, landlords, mobile providers) and credit card companies often offer special incentives and waive certain fees - like those pesky electronic payment add-ons - when you set up auto-pay directly through them.

Getting on the automated payment bandwagon will also help you clear the paper clutter that floods your counter tops every few weeks. Don't worry, you'll still get electronic notifications - that you can save and print if you desire - confirming that your payment has been made. Keep an eye on your accounts via online and mobile banking regularly to ensure everything is in order and to catch and report any errors, should they occur.

You'll experience convenience and savings when it comes to postage, envelops, and checks, too, once you automate your payments. So what are you waiting for? Go on, get automated!

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