Automatic withdrawals for bill payment?

Question

I currently don't do this with any of my bills. For one thing, I get paid every other Friday, and if a creditor was, for example, taking my car payment on the 5th, this could get nuts. When I sign up my payday may be on the 5th, then the next month it is on the 2nd, then the 28th, and before you know it is all screwed up. How do those of you who do this manage it?

Answer 1

Add up your monthly bills, and make sure that your checking account on which they're drawn always has enough money by the bill auto-pay date. Many people get paid every other week. It's not rocket science.

In some cases (like credit cards) you can change your bill (or due) dates. It is a good idea to align them all to be within a few days of each other.

Answer 2

Don't have automatic withdrawals for your bills. Just set up bill pay with your bank and then you can pay your bills as you want. With my bank I just set it up with account info and then click in when I get the bills and all I have to do is fill in the amount and the date I want them to send a check or electronically transfer funds. I also sign up with individual companies and go to their web site to pay others bills. Some companies will send you an email when your bill is available on line and still send you a paper bill-which I like in case my computer crashes. You just go to their website and then to your account and tell them when you want them to electronically transfer funds-just do it a few days before the bill is due to be safe. It's so easy once you get the hang of it and you will have problems finding where you put your stamps because you just don't use them anymore.

Answer 3

I work for a bank that has bill pay online. that way you can manage any bill you have, you can choose auto pay or one time pay. This is what I do and it makes it so much easier to pay my bills.