In an effort to simplify our lives, the wife and I have decided to change up how we pay our bills. In the past, we either sent a check or went onto our bank’s website and sent the money once we had it. However, it took time away from important things like spending time with family, friends, or enjoying life.
So we are going automated. We set up a second account and will set up direct bill pay from that account to the companies that we have consistent bills (mortgage, cell phone, internet daycare, and student loans) and even got on billing programs for our gas and electric so they will be the same every month. Once we figured out what the total is, we then set it up so a portion of each check is direct deposited into that account so we don’t need to worry about it.
Best part is we have it in a separate account, so our regular day to day spending will not have any impact on it, and it gives us a better understanding and control on where our money goes, instead of wondering where it went.
How do you pay your bills? Do you use the technology available or do you write out a check?