1. You save on stamps (Assuming you have 10 bills to pay a month – that’s a savings of $4.20 per month – $50 per year.)
2. You save on late fees. You can set up your account to automatically pay all your bills. This not only gives you peace of mind but you also save on all those late fees especially the crippling ones of credit cards. (Even if you do not know what the final credit card will be, you can set up an automatic payment of a minimum balance). While late fees can be of different amounts, to account for the times that you might forget estimate a figure of at least $500 savings in late fees.
3. You have an organized record of every expense.
4. You save time – everything can get done in under a minute…instead of writing checks, putting in envelopes, getting stamps and then mailing.
5. As an added bonus, some banks offer money to get you to pay bills. That’s extra money for you.