Automate Your Monthly Payments

I thought I'd pass along my favorite simplifying hint for finances...automate your monthly payments. I understand the time/value of money. I know by automating your monthly payments you might lose a few days of earning interest on your own money. But lets' face it...in today's economy, with the extremely low interest rates, simplifying my life is more important than the few pennies a month I lose in interest.

I first read about this idea in David Bach's book, The Automatic Millionaire.


After reading his book, I automated all of our regular monthly payments:

Telephone
Electricity
Mortgage Payment
Auto Insurance Payments
Life Insurance Premiums

The only monthly check I write is our tithe check.

It's great peace of mind to know everything is paid, and it saves me a few hours a month in writing bills, etc.

Just a note...our finanicial fast didn't include our automated payments:)