Sit Back and Let Your Bills Pay Themselves

Physician's Money Digest, May 2006, Volume 13, Issue 5

Wall Street

Journal

Journal

In a perfect world you would never haveto worry about writing a check to pay for abill ever again, whether it's for your ownpersonal finances or for your practice.Automatic bill paying has been around for awhile, but only recently is it becoming possibleto pay every bill without having to doanything at all, including visiting your bankingWeb site. According to the , there are a few ways to put yourbills on autopilot. One is placing all of yourbills on one credit card, then having anautomatic payment taken out on the cardeach month. You can also give creditorsyour bank account information and allowthem to make the proper payment withdrawaleach month. While effortless to use,these autopilot methods do have drawbacks.Although you won't have to pay yourbills by check or through a banking Web siteanymore, you will have to check your bankand credit card statements frequently tomake sure there aren't any errors. Thesuggests that you put as much asyou can on your credit card each month todecrease the amount of billers with accessto your banking account.