Comments on: The Best Time to Pay Bills http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html Bridging the gap between saving money and investing Sun, 12 Feb 2012 06:29:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: abru http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-967850 abru Fri, 28 Oct 2011 15:41:46 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-967850 time is money time is money

]]> By: Osadg http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-389449 Osadg Mon, 11 Aug 2008 20:24:32 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-389449 I know a lot of people have suggested going to complete online bill pay, but I'm somewhere inbetween that and what you do. I also enjoy sitting down to pay my bills, but instead of having to sit down and pay them all while writting out checks, and instead of just trusting to bill pay, I do a little bit of both. I actually sit down and pay online when I receive bills, or if it's not due for a few weeks, I go ahead and set it up to pay online closer to the due date. This way, I still get to feel like I have all the control of maually paying my bills, and seeing the balances, but it doesn't take me much time at all. And I never have to worry about anything being late, or about when to send the payment so I can earn more interest, it's all still in my account, until the day I scheduled it for. I know a lot of people have suggested going to complete online bill pay, but I’m somewhere inbetween that and what you do.

I also enjoy sitting down to pay my bills, but instead of having to sit down and pay them all while writting out checks, and instead of just trusting to bill pay, I do a little bit of both. I actually sit down and pay online when I receive bills, or if it’s not due for a few weeks, I go ahead and set it up to pay online closer to the due date.

This way, I still get to feel like I have all the control of maually paying my bills, and seeing the balances, but it doesn’t take me much time at all. And I never have to worry about anything being late, or about when to send the payment so I can earn more interest, it’s all still in my account, until the day I scheduled it for.

]]> By: SNAFU http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-378695 SNAFU Thu, 31 Jul 2008 04:57:01 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-378695 Please don't be offended but your post seems Luddite-like to me. Your time is worth $$$. Enjoy the old system by noting all payments and their due dates in the register section of your chequebook but reduce bank charges by making the actual payments on-line releasing one business day before the due date for added security. Had you continued paying an extra $200. a month on your mortgage, that sum subtracts directly from the principal and knocks years off your mortgage. By multiplying your monthly mortgage payment by 360 you better understand the total cost of a mortgage over 30 yrs. Does your municipality have a monthly property tax payment system? Most municipalities require pay-out by June while the tax actually extends to December. Add mortgage savings, cost of postage, envelopes, your time, and potential for short-term investment profit to decide if it equals the good feeling you get from writing cheques. Anything you can do to make your money work harder is a good plan. We need to keep shoving down inflation and increasing profit potential. Please don’t be offended but your post seems Luddite-like to me. Your time is worth $$$. Enjoy the old system by noting all payments and their due dates in the register section of your chequebook but reduce bank charges by making the actual payments on-line releasing one business day before the due date for added security.
Had you continued paying an extra $200. a month on your mortgage, that sum subtracts directly from the principal and knocks years off your mortgage. By multiplying your monthly mortgage payment by 360 you better understand the total cost of a mortgage over 30 yrs.

Does your municipality have a monthly property tax payment system? Most municipalities require pay-out by June while the tax actually extends to December.

Add mortgage savings, cost of postage, envelopes, your time, and potential for short-term investment profit to decide if it equals the good feeling you get from writing cheques.

Anything you can do to make your money work harder is a good plan. We need to keep shoving down inflation and increasing profit potential.

]]> By: Dana http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-378285 Dana Wed, 30 Jul 2008 17:22:57 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-378285 I pay our mortgage two weeks early. I schedule it out of the 15th paycheck although it's not due until the following month on the 1st. This has actually lowered our principal even more due to less interest by paying early. It's not a lot but over several years, it can make a difference. www.practicalfinances.com I pay our mortgage two weeks early. I schedule it out of the 15th paycheck although it’s not due until the following month on the 1st. This has actually lowered our principal even more due to less interest by paying early. It’s not a lot but over several years, it can make a difference. http://www.practicalfinances.com

]]> By: FrankW http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-378169 FrankW Wed, 30 Jul 2008 14:59:08 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-378169 On the payment of property taxes now or later: this is a slightly more complicated case for me as the tax effect of paying it this tax year vs next tax yr makes a difference. This also applies to the old trick of making your January mortgage payment in December so you can claim the mortgage interest paid in your tax return. (All assuming that you're not earning so much that you can't qualify for any of these deductions). What do I do: use Quicken and create a calendar of all payments for the year so I can see what's coming up and what my cashflow should look like. On the payment of property taxes now or later: this is a slightly more complicated case for me as the tax effect of paying it this tax year vs next tax yr makes a difference. This also applies to the old trick of making your January mortgage payment in December so you can claim the mortgage interest paid in your tax return. (All assuming that you’re not earning so much that you can’t qualify for any of these deductions). What do I do: use Quicken and create a calendar of all payments for the year so I can see what’s coming up and what my cashflow should look like.

]]> By: This and That About WEALTH « http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-374976 This and That About WEALTH « Sun, 27 Jul 2008 18:20:10 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-374976 [...] The Best Time to Pay Bills [...] The Best Time to Pay Bills

]]> By: TopWaysToSave http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-374010 TopWaysToSave Sat, 26 Jul 2008 12:56:06 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-374010 I agree that you're savings shouldn't be only paying out .25 percent when so many online banks like ING pay out about 3 percent or more. I do agree with floating the payments though. I usually just have my credit cards paid online the day before they are do. I like keep the money earning interest for me as long as possible. I agree that you’re savings shouldn’t be only paying out .25 percent when so many online banks like ING pay out about 3 percent or more.

I do agree with floating the payments though. I usually just have my credit cards paid online the day before they are do. I like keep the money earning interest for me as long as possible.

]]> By: SaveForHouse http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-373860 SaveForHouse Sat, 26 Jul 2008 09:14:16 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-373860 I personally would not risk money in the stock market that you cannot afford to leave there for 5 years or more. Trying to make $100 here or there on a stock trade is risky if you're going to need that money to pay your bills. What if you lose the money and then cannot pay your bills? Moreover, even though I have been investing in the stock market for over 10 years, I have never had any luck with my shorter term trades. My big wins have been on my DRIPs (dividend reinvestment plans) that I have held for 5+ years. One point I always worry about with my bills is ruining my credit with a late payment. I always try to pay as soon as I get my bills to make sure to keep my credit nice and high which will end up saving me money when I apply for a mortgage. I personally would not risk money in the stock market that you cannot afford to leave there for 5 years or more. Trying to make $100 here or there on a stock trade is risky if you’re going to need that money to pay your bills. What if you lose the money and then cannot pay your bills? Moreover, even though I have been investing in the stock market for over 10 years, I have never had any luck with my shorter term trades. My big wins have been on my DRIPs (dividend reinvestment plans) that I have held for 5+ years.

One point I always worry about with my bills is ruining my credit with a late payment. I always try to pay as soon as I get my bills to make sure to keep my credit nice and high which will end up saving me money when I apply for a mortgage.

]]> By: Destiny http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-373648 Destiny Sat, 26 Jul 2008 03:50:41 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-373648 I do auto pay on everything except my rent. I do auto pay on everything except my rent.

]]> By: baselle http://www.savingadvice.com/articles/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html/comment-page-1/#comment-373369 baselle Fri, 25 Jul 2008 21:34:26 +0000 http://www.savingadvice.com/blog/2008/07/25/102218_the-best-time-to-pay-bills-%e2%80%93-on-time-or-early.html#comment-373369 I pay as I receive. My ability to sleep at night, my record of paying maybe a 3-4 late fees in 10 years, and my ability to show Cap One that due to my payment history your fee was wrong ... that FAR out weighs any interest on the float that I'm going to earn. I pay as I receive. My ability to sleep at night, my record of paying maybe a 3-4 late fees in 10 years, and my ability to show Cap One that due to my payment history your fee was wrong … that FAR out weighs any interest on the float that I’m going to earn.

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