Joanita Wibowo

Retirement Income

Why you should automate your bill payments

Why you should automate your bill payments

Paying bills may not exactly be the most fun thing to do, but technology has made it easier to stay on top of your payments and keep any outstanding balance in check. If you have not automated your bill payments, here are a couple of reasons to start.

It helps you avoid extra charges

If you fail to pay your bills on time, you can expect to get hit by late fees. Automatic bill payment helps you avoid incurring any further debt and give you more money to spare. Some power companies also offer pay-on-time discounts.

It reduces your mental bandwidth

Getting your finances organised and streamlined will take a major burden off your mind. By making bill payments your “default option”, you won’t have to worry about it every month. It will become a constant feature of your budget as you get used to setting aside some funds for the payments, making it one less thing to figure out in your busy daily life.

 Keep in mind to only automate bill payments with businesses that you trust, and do not hesitate to ask about the procedure for cancelling the direct debit if you decide you no longer need it.