If you took Making Your Money Management Simple – 1 to heart, you are now organized!

This post is about paying bills on time and in no time. Our household bills all seem to naturally fall due towards the end of the month. This is okay as I sit down once per month and set them up on-line for payment. Easy peasy lemon squeezy as the kids say.

This isn’t the case for everyone though and there are ways to make your life more simple when it comes to bill payments. Most billers will either take the payment directly from your account or charge it to your credit card. You must authorize this with each biller but once it’s done, you can sit back and relax.

When it comes to credit card payments, you can set up up various options including the auto-payment of the minimum payment, a set amount or the total amount owing. This is perfect for those who forget to pay bills on time.

A big benefit to setting up automatic bill payments is that your payments are made on time and for the correct amount (or minimum payment amount) which is key for maintaining a good credit rating. Contrary to common belief, your credit rating stays shiny when you make the minimum payment within the payment cycle. It’s always great to pay more and at any time because it reduces your debt BUT the system doesn’t recognize the on-time payment unless it happens at the right time.

Don’t forget to review your bills when you receive them to make sure they are correct.

Making Your Money Management Simple – 3 will be about having the right accounts for the right things.