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Anyone share how they pay their monthly reoccurring bills with different amounts ? Bank, Credit Union, or via billing entity with credit card deduction?
Anyone share how they pay their monthly reoccurring bills with different amounts ? Bank, Credit Union, or via billing entity with credit card deduction?
Thansk
For automated payments that vary, the only way I’ve found is direct debit from your checking account, otherwise you have to enter an amount on line for each transaction. You need to provide them with your account (sometimes a cancelled check) and your bank and its routing number. Most places I pay routinely accept that method.
If you use a credit card check to see if the vendor charges you an extra couple of % to cover their processing costs.
You can check to see if you can go on a budget plan with the vendor and that should give you 11 payments at a fixed amount.
You could estimate your total annual cost and divide by 12 and pay this amount each month through a recurring bill pay system that your bank probably offers. Be sure to start by paying a few dollars up front to be sure your account always has a credit balance so you do not have any late payment problems.
See if you can change your due date so most of your bills come due at the same time so maybe you can do your bills once a month. CC's should be easy to change. Utilities will probably not be able to change due to meter reading.
I prefer the KISS method. All my regular bills are set up to be paid out of the same bank account. They aren't "auto pay"; I still get the email invoices, review the charges, go to the biller's web portal to initiate the payment, but the source for the funds (routing number, cc, debit, e-check, etc) is the same each time. Maybe I'd end up saving a few pennies or minute or two by dickering around with other methods but it just isn't worth the hassle or missing something IMHO. All the due dates are in my electronic calendar so I can scan what's coming due at any time.
When I get older, I’m going to pre pay utilities and such once a year. I’ve heard from a coworker, he paid a $1000, and let them charge it down. Not a bad idea.
When I get older, I’m going to pre pay utilities and such once a year. I’ve heard from a coworker, he paid a $1000, and let them charge it down. Not a bad idea.
I think it's a bad idea. Why give those companies the use of your money for nothing? I use bill pay through my bank and it takes less than minute a bill. I want to know how much I am spending on what, and refuse to give anyone else access to my bank account, so nothing is on auto pay.
I think it's a bad idea. Why give those companies the use of your money for nothing? I use bill pay through my bank and it takes less than minute a bill. I want to know how much I am spending on what, and refuse to give anyone else access to my bank account, so nothing is on auto pay.
The guy did it in his 30s. I plan to do it when I’m in my 80s. What’s so big deal about $1000, you get $20 of interest. That’s chump change. That’s what the bum of the road get when he’s approached me for money.
I pay all my bills except rent and car insurance on my credit card. Whatever the bill is gets automatically charged to my credit card. For my car insurer I have it directly debited from my checking account. I would never allow a variable bill to be debited from my checkings because it's harder to dispute once it's been paid that way and the money is already out of your account. It seems every time I change my cell phone plan my bill is double the next month because they pro rate the new plan and still charge you for the old plan. After I get someone who speaks clear English I'm usually able to get it fixed.
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