Sometimes you just don’t have the time to write checks or visit the bank to pay your bills, which is usually the start of getting into debt. It is, therefore, necessary that you find ways in which you can ensure you pay your bills while in the comfort of your home.
Paying bills online is a very easy process, it frees up time, and just makes life a little easier. There are many options for doing this, and in reality, you will probably be required to combine some of these options to pay all of your bills.
In this review, we take a look at how you can pay your bills online. We tell you how to do it, the websites to visit, and how you can ensure you do not get into debt accidentally. Debts must be paid each month, and we hope that our process will help you.
Step 1: Arrange Your Bills Into Three Different Piles
This is the first step. You must be organized so you don’t miss any bills that must be paid. Gather all of your bills together and then divide them into three piles.
One pile should contain the bills that require the same amount to be paid each month. This includes your loan payments, cable bills, etc.
The next pile should have bills that tend to vary month-by-month such as your credit card bill or your power bill. The last pile is for the bills that are not paid regularly. These are the bills that you don’t have to pay each month.
Step 2: Determine What You Should Pay Online
You should then consider the bills that need to be paid each month, but have irregular amounts. When you pay these bills each month, you will be in a better place to keep track of your expenses and this prevents you from overdrawing your account.
The first thing you should do is go into your bill pay account and then set up a profile for paying the bills. When bill payment time comes, all you have to do is select the one-time payment option, click on the bills you will be paying, and then enter the amount.
Ensure that you record the transaction number you get from the bank so you can use it as a receipt. On the other hand, paying the bills directly to the company will give you a tracking number, and if there are any issues, you can use this to solve them.
Paying Through Your Bank’s Online Portal
This is another good option. If you already have a bank account, chances are that the bank has an online bill payment system. You can also set up a list of the service providers and have the bank send those checks. This can be done automatically, or when you request it to be done.
Using the bank is actually the best option because it helps you keep everything under control and you do not run behind on your bills. This is because the bank usually initiates the transactions.
Set Up ACH Payments
Service providers such as utility bills and insurance companies will allow the payment of bills for free when you have ACH payments. In this system, the money is pulled from your account each time you have a bill that needs to be paid. It is automatic, which means you are not involved.
In order to set it up, you should provide your bank with information about your bills and permit them to take the money when needed. Really, this system is very easy for you and takes much less work. It gives the service providers access to your account.
The only downside is that they may sometimes take too much or pull funds at the wrong time. You should, therefore, ensure that you have enough funds in your account whenever bills are due. Also, take out overdraft protection so it can take care of any overdraft incidences.
If your finances are unstable and cannot guarantee a direct debit each month, then this is not the right option for you.
Use Free Bill Payment Services
There are plenty of websites online that have been designed to offer you free online payment of bills. Well, when we say free, we don’t exactly mean “free free,” because you will be required to pay a subscription each month, or you may have a limited period when the bill payment is free.
One example of such a service is MyCheckFree that allows you to make eBills to specific people. This service has a platform that has a lot of businesses that are connected to it. However, if your service provider is not connected, then it may not work.
Bill payment is something that everyone does each month. When you pay your bills on time, you are not only taking control of your finances but are also being careful not to accrue debts that will end up messing you up in the future.
Always pay your bills on time with these easy to use online bill payments.