Question

Do you guys have your bills automatically withdrawn from your account on auto pay? I only have 2 of my 8 bills taken out of my account on the due date. I am a paycheck by paycheck budgeter and I feel as though I have more control over my finances when I pay it manually because then I can determine which bill to pay with the paycheck I receive. When I'm tracking it in my workbook it's throwing me off because even though I've paid the bill the money isn't taken out of my account until a few days later. Any recommendations? Thanks!  

Answer 1

None of my bills are on autopay. I always worry that I’ll for some reason not have the money in the account at the right time and go negative. I feel better paying them when I’m ready to pay them.  

Comments

Also, sometimes companies mess up and charge you too much (I'm looking at you, cell phone). You don't want that messing up your budget or your bank account!  

Answer 2

I was thinking of doing that but it kind of gives me anxiety. I think I’ll keep it so I pay them.  

Answer 3

I have a few on auto. I dont care for this because I do not get paid the same day each month.  

Answer 4

Once I pay bill, I consider it out! Doesn't matter if it's cleared the bank yet. It's not mine anymore!  

Answer 5

I only have one on autopay. I prefer to just pay them on the payday that I allocated that bill to.  

Answer 6

I do not do any on autopay for this reason. I feel more in control like you said when I do it manually. Plus my income fluctuates weekly ad I’m a freelancer and my hours are different every week. So the bills I pay vary every week too

Answer 7

The best part about auto pay is you never have a late payment. Also, i don’t care when it comes out- i mark the due date and that money is gone. Many companies offer perks or discounts for autopay. If you have a checking cushion it works great. For ppl who tend to overdraft i would not recommend it- but once those that do get a cushion it makes life easier. Also many banks will write checks and mail it on their bill pay Program (a little different) which saves even more money and time.  

Answer 8

I think once I have a decent cushion built up I’ll feel better about setting up autopay on my bills. For now I just pay them manually per my budget.  

Answer 9

I have an account strictly for bills and i deposit the next two weeks into it and don't touch it for anything else.  

Answer 10

I personally am against autopay, I worked many yrs in credit unions and banks. Ive seen WAY TOO MANY accts get messed up with errors and then it could take a few days to a few weeks for corrections.  

Answer 11

Only if it provides a discount from the company. Otherwise, I pay it on pay day to get it out of my account.  

Answer 12

All autopay! No late payments ever. Just record It as paid each paycheck! If you have an issue with the dates, call and see if they can adjust your pay cycle. Some will some won’t. I have It finally organized so that the 1st of the month are paid with the last paycheck of the month (roll over). Takes a month or two to get a groove but it’s so much easier.  

Answer 13

It also helps with budgeting to pay it all on pay day. I just make it in my expense tracker and pay zero attention to when it gets taken out.  

Answer 14

I don’t have bills on auto pay. I always worry if for some reason I get charged the wrong amount or something and I go into overdraft I’ll be stuck paying fees. I’d rather have the control myself.  

Answer 15

I used to be so against auto pay because I like being in control but i have been on auto pay for probably two years now and it’s been great. I track my money by the due date and just mark it when it actually clears the account.  

Answer 16

I have autopay on all my bills but usually pay earlier than the date it's supposed to come out. There are some bills I have where I cannot pay early. It sucks. But with the big bills I can get those out of the way as soon as I have the money available.  

Answer 17

My bills are on auto pay. My credit cards I pay as soon as I am emailed the statement for that month.  

Answer 18

My student loans are on autopay because the loan provider offers a discount off my interest rate if I do it this way.  

Answer 19

I have mine on auto pay but the payee does not debit my account. I have the money sent from my account by my credit union and can cancel the payment up until the day before it is submitted to the payee.  

Answer 20

All autopay! Except for our mortgage. I like to pay that one manually and sometimes pay it early