Friday, March 21, 2008

Minimalist Ways to Bank and Pay Bills

Using On Line Banking:

When it comes to making managing your money as easy as possible, on line banking is a huge help. Once it is set up, you can enter all of your bills just once and then pay them with a few clicks as they come in. If you aren’t so great about balancing your statement, don't worry, it deducts the money right away. So, if you only use your on line banking to pay bills, and your debit card for purchases, you’ll always know how much money is in your account. No more checks floating around out there to throw you off!

Some people prefer to have their bills automatically deducted. The only problem with that is that if something changes in your bill or a mistake has been made, the money has already taken out. It’s much easier to negotiate with a company when they’re trying to get you to pay them than after they’ve over billed you! And just in case you think that never happens, we had our mortgage escrow account recalculated with an error of over $6,000.00! Luckily I read the “New Escrow Estimation” letter they sent and refused to pay them a cent until it was resolved. It took a month of phone calls, emails, and threatening to turn it over to my attorney to get them to fix it. Unfortunately, I that mortgage set up to auto deduct so I had to pay the bank a $20.00 fee to cancel it. I’ll never use auto deduct again.

Any checks that you can have processed through direct deposit to your bank , however,will save you time. I had this at my last job and it was always nice to get my statement at work as good reminder of why I was working so hard!

So if you’ve been following my last few posts, soon you’ll have less junk mail to deal with, less bills in your mailbox because some of your bills are being e-mailed to you, and you’ll always know how much money is in your account by using on line banking, bill pay, and a debit card. No more checks! Now you’re in control!

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