Every year people spend hours paying their bills, time that can easily be saved if these were paid automatically. If you are worried about not having a control over how much is taken out of your account, remember that since you are now tracking your expenses (see Day 1’s Challenge), this payment will sooner or later appear in your expense log anyway which will still give you an opportunity to check for errors.
Another strong argument to automate your payments is that it can potentially save you a substantial amount of money over the long run. Every time you are late paying a bill, you are charged a late payment fee and whilst you might have the intention to always pay your bills on time, the reality is that life happens and at one point or another you either forget, don’t have time or have much more pressing issues to deal with. Continue reading “Day 6 / 31 – Automate your payments”