Better Budgeting: Direct Billing No More Late Fees

Direct Billing No More Late Fees

Money Saving Tip of the Month (featured column)
submitted by Mary 

I always see tips for paying bills that tell you to put all your bills in one place and pay them all on one day, and similar ideas. But no matter how hard I tried I always seemed to forget the day or the place, or they came at the wrong time, or were due before our pay went in, or were larger than anticipated.

*  *  *

Since I couldn't afford an accountant, I thought I would see how much of the bill paying work could be done by the companies and my bank, instead of me!

1. Almost all our bills were able to be put on an equal payment plan. It helped that we had been keeping our payments current. This meant that we were able to budget the same amount every month for electricity, gas, water, cable, and internet.

2. Every company I called was willing to move the payment date to one that I knew would correspond to our pay deposits.

3. As a back-up, I spoke to the bank and arranged to get overdraft protection on the account our pay went into and all the bills came out of. No more horrendous overdraft bank fees!

4. Every company I called was able to set up direct billing (taking the payment directly from our account each month). This cut out the cost of stamps, envelopes and checks, and I still got a paper copy to let me know when they were coming out and the amount. As soon as I got that, I would mark it on the calendar to keep track. As a result, I can rest assured that our bills will always get paid on time, every month, and we will never be charged a late fee. Even if I am off sick or on holidays, they are taken care of!

*  *  *

How to submit a tip...

View more tip winners...

Copyright © 2007 by Mary. All rights reserved.

Can't find the page you're looking for?



Free Membership and Ebook Bonus Gifts:
Sign up today and receive 2 ebooks (Dealing with Debt and 101 Coupon Tips) with your Free Membership. The Ebook gifts will be included in your Welcome letter! :o)
"It's not about being able to spend more money.
It's about enjoying and managing what you already have... BETTER!"
- Michelle Jones, Founder of BetterBudgeting

Celebrating 16 Years of Serving the Online Community

Living a Better Life® is a registered trademark and Better Budgeting a trademark of BetterBudgeting.com, BetterBudgeting.org, and it's parent company, Blue Ridge Publishing, Inc., PO Box 795, Powder Springs, GA 30127.




Follow Us: