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On my current quest for financial liberation, one goal I accomplished was putting all of my bills on AutoPay. Now this sounds simple, but it truly is not because I had to make sure I was in tune with what was in my bank account at all times. I also had to stick to a budget, which was not easy, initially. Actually, budgeting has become quite easy for me now đ.
I want to share some steps Iâve taken to get my bills on AutoPay. Perhaps you will find them helpful too!
1) I wrote down all of my bills and the amounts I pay for each.
2) I canceled all unnecessary bills and subscriptions and I took the remaining bills and used them as a starting point for budgeting.
3) Next, I wrote down my biweekly net pay. This is my pay after savings, benefits and taxes are deducted.
4) Next, I allocated bills to each pay period, ensuring I had adequate spending money left over for each pay period. I made sure I did not ever exceed my spending budget.
5) I left âbufferâ money, such as an extra $100 in my account at all times because some bills vary and I had to make sure I always had enough money in my account to cover my bills without over-drafting.
6) Lastly, I setup AutoPay for all of my bills! đ
One other thing I did to help me succeed is, linking a savings account to my checking account with overdraft protection. I left money in that account as a form of savings and for protecting me from over-drafting.
I was not successful the first time I tried to get all of my bills on AutoPay. However, I was determined and persistent and I was able to make it happen!
Until next timeâŠA Frantic Mom đ©đœâđ»