Comments on: A Life Without Debt: Simple Bill Paying

By: A Life Without Debt: Simple Credit Reports - SavingAdvice.com Blog

A Life Without Debt: Simple Credit Reports - SavingAdvice.com Blog — Tue, 30 Jun 2009 07:02:41 +0000

[...] takes my neighbor hours to pay all her bills while being debt free keeps me from that onerous chore, saving me valuable time. The same neighbor [...]

By: Gail

Gail — Wed, 24 Jun 2009 16:00:43 +0000

And here I was excited because I have now gotten to the point of paying another bill on line. It runs about $5 a year now just for stamps for One monthly bill! She has got to be spending a fortune on stamps even with paying some bills on line. I can’t imagine sitting down to that many bills every month/week!

By: minny

minny — Wed, 24 Jun 2009 09:32:26 +0000

Is all the extra ’stuff’ worth the aggravation – I don’t think so!

KISS – keep it simple sweetheart

By: M

Sat, 20 Jun 2009 22:52:41 +0000

Great post. No wonder some people stress so much and talk about needing to sit down and “pay bills.” We have been on a spending plan since 2002 when we learned about Dave Ramsey. We have gladly watched the categories decrease and it takes a lot less time to plan our spending.

Does your neighbor know your passion for personal finance? Just curious…

By: Jackie

Jackie — Tue, 16 Jun 2009 18:54:14 +0000

I always thought that just the prospect of huge debt would be overwhelming, but I can see how it’s even more debilitating if you have to face so many individual bills. Even when I had my own credit card debt, it was only the same two cards I’d always had, so no additional bills.

Currently, I pay 6 bills monthly and then insurance at the half (auto) and whole year (renters). So about 75 bills a year. I probably spend about 1/2 hour a month paying bills and only that long since I have to reconcile my credit card bills with my check register. The only bills that are automatically deducted from my account are my loans (student & car). I’ve had to fight before to get other itemized bills corrected, so I never like giving companies money before I have the chance to review the bill.

Anyway, wow. I hope your neighbor starts really making strides in getting their finances in order. Just the thought of 30+ monthly bills makes my stomach hurt.

By: Diane

Diane — Tue, 16 Jun 2009 18:24:09 +0000

This led me to review my bill paying spreadsheet, which I maintain in Excel. I have a section for the 1st & one for the 15th, because I pay bills twice each month.

I have a total of 7 definite monthly bills – mortgage, water, phone, cable/internet, auto insurance & electric plus 1 credit card that is used to auto-pay alarm & newspaper. I have 4 other credit cards, 1 usually used monthly & paid off and 2 for specialty items at 0% interest (Home Depot & Best Buy).

Homeowner’s & Flood Insurance & property tax are paid annually by my mortgage company.

At most I pay 11 bills per month, including credit cards. All are paid online except the water bill, which charges a $2 fee to pay online, so I pay by check.

It takes me less than 1 hour per month to pay bills in 2 sessions online, & mail the 1 check.

Since I have everything recorded in my spreadsheet, I never miss a bill and never pay anything late. I’m very happy with this system.

By: Monkey Mama

Monkey Mama — Tue, 16 Jun 2009 14:08:33 +0000

That’s crazy!

My system is more like ours. I counted and looks like 100 bills a year for us.

Since I am so financially organized people often tell me they don’t want to spend so much time on their finances. Which makes me laugh since I really don’t spend much time on it – it’s automated and organized. I don’t need to set aside time in particular to pay my bills – it’s all done online with the push of a button.

I don’t automatically draft much because it forces me to review bills as they come (and find mistakes, etc.). Though all of our savings is automatically drafted, monthly.

By: Shane

Shane — Tue, 16 Jun 2009 13:40:43 +0000

oh… and time wins every time – the most limited of resources for us all..

By: Shane

Shane — Tue, 16 Jun 2009 13:40:12 +0000

Great post – thanks for sharing…