Additional Coverage:
- 9 Bills You Should Never Put on Autopay (And Why) (financebuzz.com)
Autopay can be helpful for ensuring bills are paid on time, avoiding late fees. However, some bills are best paid manually.
Credit card bills can fluctuate, potentially leading to overdraft fees if a larger-than-expected payment is automatically withdrawn. Manually paying allows better budget control.
Utility bills, like electricity and water, also vary. Paying manually encourages mindful consumption and helps you identify potential savings.
Gym memberships are easy to forget. If you rarely use the gym, avoid autopay and consider less committal options like day passes.
Cable and streaming services (TV and music) can drain your budget unnoticed when on autopay. Manually paying encourages regular evaluation of these services and whether they’re still worthwhile.
Subscription boxes can accumulate costs quickly. Manual payments allow better control over spending and easier cancellation.
Cell phone bills can also fluctuate. Manually paying helps avoid unexpected overage charges and ensures you’re on the right plan.
Avoid autopaying bills you don’t pay in full. Partial autopayments can lead to accumulating interest and debt without your realizing it.
While autopay is convenient for some bills, careful consideration is crucial. Choose wisely to avoid unnecessary fees and maintain your budget.
Everyone can benefit from reviewing their finances. Focus on paying off debt, perhaps exploring balance transfers or credit counseling.
Boosting income with a side hustle can also help. Finally, look for savings opportunities, especially with large expenses like insurance and travel.
Read More About This Story:
- 9 Bills You Should Never Put on Autopay (And Why) (financebuzz.com)