We all know that paying bills isn’t sexy or fun, but it is part of having a healthy financial life. Everyone pays their bills differently, but I’d argue that the more steady your strategy is the better.
Most of us have some kind of system in place, but it’s always good to take a look to see if everything is working. Some questions to ask when developing your bill pay system:
- Do you pay yourself first? This is a must.
- Do you have all of your bills estimated and know when they are due?
- Do you have an automated system where you don’t have to think about this fun task?
- Does your strategy prevent you from getting dinged with late fees? If you ever get hit with these, rethink your system.
- Is the money left over at the end of the month working for you in an interest bearing account?
Here are some advantages of a good bill pay system:
- Peace of mind – knowing that you won’t be spending your money on late fees.
- Multiplying $ – watching your interest grow.
- Saving First – there’s no other way.
Happy bill pay!