Wouldn’t it be nice to never forget to pay your bills on time? Wouldn’t it be nice to make secure payments? Chances are you’ve considered auto pay, but may still pay your bills with a check or credit card as they come due. There are a number of reasons why you should auto pay your bills though. Let’s look at why you should set your bills to be paid automatically.
Okay, this is pretty obvious, but when payments are automatic, you don’t have to worry about remembering to pay them on time. As long as you have money in your account, your bills are taken care of. Something you may want to do to make this more successful is to have your paycheck automatically deposited into your account.
You May Get a Discount
Some companies offer discounts for setting up automatic payments. Depending on the bill, you may save $1 or $10 per month. On the flip side, some companies may charge you for not setting up automatic payments. Look at your bills and see how auto pay can benefit you.
It Makes Budgeting Easier
It’s so much easier to budget your money when your bills are paid the same time each month. You know that a certain amount of money needs to be deposited in order to cover those bills. Again, having your paycheck automatically deposited will make things even easier.
It’s More Secure
Yes, there are times when companies are breached, and information is stolen. However, it is much more common for bills to be stolen from a mailbox so that the thief can get your account information. Paying your bills online will keep your information more secure.
You May Improve Your Credit Score
Because your bills are being paid on time each month, you have the chance to improve your credit score. Some companies will report your payment history. Setting up auto pay will help ensure that you don’t have to worry about missed payments and late fees. If you need to boost your credit score, this may be an easy way to do it.
There are pros and cons to auto pay. However, the pros certainly outweigh the cons. Being able to make secure payments, never miss payments, and have an easier time budgeting can make your life easier. Not to mention that you may save money. What are you waiting for? Start setting up auto pay for your bills today.