APRIL 12, 2023
Save Time & Money With Auto Pay
Focus on the things that matter most to you.
You have probably heard the phrase “time is money” in the business world, but that same principle could improve life in a big way when applied to personal finances. Consider the fact that you have the ability to make money, but you don’t have the ability to make time. Time is something that can only be spent, so every minute we save could become minutes, hours, or days that we spend on other things such as activities with friends and family.
Did you know?
According to a recent article, 5 Steps to Create a Budget that Actually Works (www.moneyunder30.com), one of the biggest money wasters is late fees. Even with the availability of an online account, how many times have we all run too close to a deadline causing us to resort to the following scenarios?
- Calling in a payment with hopes that we can pay before the cut-off time due to a vendor’s time zone being different than our own.
- Logging in to an online account and then hunting for the password because we do not have it handy, only to end up selecting “forgot password” and resetting it.
We’ve all seen this movie and we know how it ends. It ends with late fees being charged and rolling into future balances. It all adds up faster than we realize. NerdWallet had a very good point regarding payment history and credit scores in an article addressing the pros and cons of automatic bill payments (Automatic Bill Payments: Pros and Cons, NerdWallet.com). The article pointed to payment history as the major factor in your credit score. Consistency is key! Payments made on time can help improve your score and give you more buying power for the future. That’s a positive impact on your life that starts by using automatic bill pay to avoid delinquency, ease your mind, avoid stress, and spend time and money on the things that matter most to you.
Your money is valuable, but so is your time. Let’s commit to making it a positive relationship!