#Saving money: Online bill pay is your friend

I have saved a lot of money in the past 5 years by switching to online bill pay for most of my bills. I use Android apps and email for monthly notifications for most of my bills. Only my life insurance and electric bill are paid via regular snail mail with a check because it cost $5.95 each to process their online payment.

I have a credit card with a 1.5% reward that I use to pay all my online bills. I pay bills with the credit card then immediately pay the balance with the cash allocated to the bill; so that I can earn a “free” 1.5% for paying my bills. This only works of course if you do not carry a balance on the credit card used to pay your bills; which I don’t.

Another advantage of paying you bills online are e-receipts that get sent to you email. You can storeĀ  and collate all your bills for the year into one central location without the need for mountains of paper that can take hours to go through if you need to find a receipt for a bill paid.

I filter my receipt to a special folder in my email for Bills and Payments. I can then search and find any bill or receipt within seconds by searching my email. Try doing that with a file cabinet full of paper bills and receipts from the last 5 years.

Leave a Reply

Your email address will not be published. Required fields are marked *