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Tip Spotlight - Bill Paying Tips

 

 

 

Pay your bills on time and more easily with this free bill planner and these free tips.

Setup your bills to be taken out of your account automatically.  Electric, cable, gas, and even rent can be set up to be automatically take from your account. 

 

Set up bill pay with online banking.  Most financial institutions will have a bill pay or pay method online.  Be careful that you set it up a couple days in advance so that if your financial institution sends a check instead of wiring funds that you can pay the bill on time. 

 

Ask if there is a cash discount for paying bills especially if your on a budget it makes more sense to get a discount than to write a check. 

 

Does setting up an automatic withdrawal get you a discount?  Ask because some companies would rather have you pay online than come in and pay a bill.

 

Pay with a rewards credit card if you are going to pay the bill anyway.  Earn reward points or miles and pay off your credit card at the end of the month.  Paying your credit card off at the end of the month is a great way to improve your credit score. 

 

Pay double the minimum to avoid high interest. 

 

Make your car, and mortgage payment bi monthly.  This does two things: one you don't have go two weeks stretching that small check.  And two it cuts the interest in half since you are making a payment twice a month.

 

Call to see if you get discounts from places you work or organizations you belong.  Companies such as ATT don't tell you about there extra organization discounts.  You could save an extra ten percent that way.

 

Make a spreadsheet and write down due dates and amounts.  That way you can easily see where you can cut back if you need too.

 

Most of all pay your bills on time to avoid collections and late fees.  Often you can get your services turned off and it could cost you more to turn them back on. 

 

 

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