Posted by Maneesh Sethi :: November 1, 2007 @ 10:02 amEvery time I go home, I see my mom sitting on the kitchen counter, writing numbers into her checkbook. She tells me she is "balancing it." I didn't even know what that meant until a couple years ago, but I'm glad that online tools have basically made it an unnecessary skill.
As we have mentioned often on the Lending Club blog, you can easily handle all your finances online, including paying your loans and regular bills. There are lots of good reasons to do so. Bargaineering.com wrote a good article on the reasons why. First of all, it saves you money on stamps and envelopes. Additionally, you don't have to worry about your mail getting lost in transit---a mistake that can have serious ramifications on your credit. You will also save money by not having to order checks from your bank. Plus, if you are good with a computer, dealing with your bills online is just easier.
Follow these steps to start paying your bills online:
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• Get all your bills in one place - Find all your bills over the last month and stack them up. Having a list of your bills will make it easier to figure out what you need to pay.
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• Go to your bank's website and see if you can pay there - Many banks offer a free online bill pay service. If your bank does, you will be able to easily transfer money from your bank account to the company you owe money to.
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• Go to the website of the company that issued you the bill - A lot of companies will offer ways to pay your bill online with a credit card. If you are paying off your credit cards every month, this is a good way to pay your bills.
Paying your bills online is a great way to reduce complexity and speed up your personal finance tasks. If you are still dealing with paper checks, see if you can't begin to handle it all online. You might find yourself saving a lot of time.
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