The Perils of Automatic Payments
The convenience of automating your bill payments is obvious, however, if you don’t keep track you may end up spending more than you want. Always audit any automatic payment system.
The convenience of automating your bill payments is obvious, however, if you don’t keep track you may end up spending more than you want. Always audit any automatic payment system.
Learn how smart Canadians are using strategic bank account separation and automation to avoid fees and protect themselves from payroll errors and CRA clawbacks. This article revisits clever real-world examples of “Stupid Bank Tricks” that empower individuals to regain control of their money. Topics include setting up deposit-only accounts, using scraping accounts for daily spending, and tips for automating allowances, savings, and income deposits. Even years after publication, these tips remain highly relevant in today’s digital banking age. Whether you’re dealing with payroll mistakes like Phoenix pay system errors or trying to better budget your income, these banking strategies will help you get ahead.
Bill notification is less of a problem today. This was written back in 2015 and 90% of my bills are now electronic. I still have issues with email losing bills, but that is easily fixed.… Read More »Bill Notification Overload
For those bills that you cannot get delivered via e-mail, scan bills that you receive hard copies. Make sure your images are backed up too.
If you automate your bill payments make sure you pay yourself first, making sure you build up your savings as well.