What is the Best Approach to Managing Monthly Bills?

There are many different approaches to managing bills and bill payments. Everyone has their unique style and everyone has their own method of managing the ins and outs of how these bills get paid every month. Some consumers prefer to pay via mail, some consumers like to pay their bills all on online and electronically and some opt for paperless statements. Some setup automatic payments and others prefer the old school method of paying them all around the same time each month.

Automatic Payments

Automatic payments are great for what they are, but some consumers can view the convenience as a blessing and a curse. In many ways, always being certain that your payments are going out without a delay is a great thing but this also makes up less mindful of paying our bills and when we are less mindful of paying our bills more mistakes can occur.

Mail Payments

Some consumers still pay all their bills via mail, the old school way. To some younger generations you might think this method is extremely outdated and not environmentally friendly but more often than not, this method works better than many others. It has been working for years and continues to work. Some people might oppose this tactic but if it’s not broke, don’t fix it, as the old adage goes. If it works for you, you should continue to do it and try to make extensive changes. Moreover, receiving paper statements in the mail is sort of like a reminder to pay your bills so your unlikely to forget repayment.

Paying You Monthly Bills Around the Same Time of Month

Some consumers opt to pay their monthly bills around the same time each month. However, the consumers who opt to do that cannot always have everything lined up perfectly. You could have credit card bills due on the 7th and then you could have your electric bill due on the 16th and your water bill due on the 23rd. This method is somewhat impractical, it doesn’t work perfectly for everyone and it’s definitely not bullet proof. Due to this, this is the least recommended method for paying your monthly bills.

All in all, there are multiple methods to paying off your monthly bills. Some consumers choose to go about doing so with the old school route and others prefer to go about it via electronic payments. Depending on your generation the most beneficial thing you can do is pick a style of payment and stick with it. If you’ve been paying your bills for 20+ years via mail it might not make sense for you to change it now. However, it is definitely more beneficial to the environment for you to pay your bills electronically and opt for paperless statements. But if that change makes your life more difficult and removes constancy from a method that is consistent for you, it probably does not make total sense for your situation. What works best for you might not worst best for someone else.