Debt payment is a chore that nobody enjoys. Making ends meet can be a genuine challenge for many families when they sit down to conduct their monthly budgeting. Trying to stretch your budget to cover everything could leave you feeling overwhelmed before it’s even over.
Imagine if I told you there were easy ways to cut costs by changing the way you pay your bills. Many firms now accept monthly online payments as a result of the increasing ease of doing business on the Internet. This includes insurance agents, mortgage lenders, cell phone providers, and utility companies, among thousands more.
Evaluate less carefully
The amount you save each year on check costs could range from $40 to $100, depending on your bank’s per-order fees. By linking your accounts directly to your checking or credit card, you can save a significant amount of money by reducing the number of checks you have to write.
Benefits of Credit Cards
Another benefit is that some credit cards offer rewards with every payment. Depending on the program, you can use these credits for things like free merchandise or even flights.
Decoupage Stamps
It seems like every six months, stamp prices rise. For someone with 10–20 bills to pay every month, spending $9 on a stamp book adds up to almost $100 in stamps for the year. Moving to online billing has already saved you approximately $200 when you add in the money you’ve saved by not having to write as many checks.
If you have to travel to the post office to drop off your letters, you can save money on petrol. Petrol prices are constantly going up, so any chance to save a few bucks is always good.
Paper bills are eliminated
If you choose paperless billing and use an authorized credit card or bank account to pay automatically, you may be eligible for a monthly incentive from many businesses. Another $30 to $50 in savings could be yours if ten companies were to provide you with a $3 to $5 credit just for going paperless with your bills.
Ensure on-time payments
You run the risk of being late with your payments if you mail them back every month. I know I’m not alone in putting off sending in my payments until the very last minute. Therefore, if they arrive late, we will incur a late fee in the subsequent billing cycle.
With online billing, you may put off paying until the last possible moment and still avoid late fines. Payments that are consistently late can add up to a significant amount, as late fees can range from $25 to $30.
Get started today with your savings!
The economy is supposedly improving, but thus far, the majority of us haven’t felt any difference. Many of us constantly struggle to make ends meet, so we greatly appreciate every opportunity to save money.
In addition to already having a hard time making ends meet, many of us work so many hours that we seldom have time to sit down and make a realistic budget. You won’t find a better deal than the time and effort saved by setting up online billing and automatic payments. Not a bank customer yet? In order to make an informed decision regarding opening a bank account in the future, it is important to learn about the actual expenses associated with living without one.
