If you are not paying bills on line you are wasting money. At a minimum you can save the financial amount of stamps. But, for people like me, there is bigger savings.
I am embarrassed to say that last year I paid over $150 in late fees and interest for not paying credit cards and other bills on time. The reason was a bad system. Bills would come in and I would put them in the “to read mail” stack… and then I would move the bills to the “to be paid” stack…and then (when I had the time) I would pay my bills all at one time just to realize that at least one had slipped past the payment due date. Then next month there would be a $15 or maybe $35 charge for “late fee” and additional interest.
Today, I do my banking online. It is very easy to do and takes just 15 minutes to set up. As bills come in they do not go into any stacks. They go on my keyboard and the next time I am online the first thing I do is register this bill to be paid (less than a minute). I select the date for the payment to be transferred, I select the amount. No more late fees. Plus, my money stays in an interest bearing account allowing me to make as much as I can on my money for as long as I can. And there is a wonderful side benefit – Peace of Mind! I no longer have to worry about when I will find time to pay my bills.
For the few bills I can not pay online I use the same process and just write the check.
Program Savings depends on how efficient you are now at paying your bills on time. At a minimum you could save $30 annually in stamps and a lot of Peace of Mind.
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