Weird But True: Paying Bills Online Can Make A Lot Of Sense.
Your bills are sent to your financial institution and the institution automatically
pays the bill for you each month.
The main problem with automatic payments:
- The bill may be bigger than you think and may cause you to bounce other checks and payments.
- Your automatic payments just messed up your account and maybe your credit!
- And you pay big bounced check fees.
How to avoid the main problem:
- Pay your bills online, but don't pay them automatically.
- Think about automatic payments in a couple of years after you're used to managing your checking account.