Twice a week, our CEO and resident money guru Jean Chatzky tackles your burning questions in the HerMoney newsletter. We’ve pulled some of the best to feature on our website — and this one made the cut! Got a question for Jean? Send it her way right here.
Q: Today’s question comes from Alison. She writes: How do you keep track of paperless monthly bills that aren’t on autopay so that you know when they’re due and don’t miss a payment?
A: There’s nothing worse than forgetting to pay a bill (and getting hit with the late fee or interest that accompanies it). According to a recent survey from LendingTree, 45% of Americans have paid at least one bill late in the past year. Of those who did, 28% said it was because they mixed up the due date. Another 28% just plain forgot about it.
There are endless methods for making sure you don’t miss paying a bill, but here’s what works for women in our HerMoney Facebook group:
● “I am very old school,” says Andrea. “I buy a calendar from Dollar Tree, and when I get an email about a bill, I mark the amount on the calendar, then mark it with a red check mark after I pay it.”
● “I use Quicken, which has a bill reminder function,” says Melissa. “That way, I always know what electronic payments will be coming up.”
● “YNAB makes paperless bills easy to track. Plus, you can set up recurring transactions in the app and to ensure you’ve got the money in your budget to cover it all,” says Wendy.
● “When I get an email about a bill being due, I immediately schedule the payment for one day before it’s due,” says Elizabeth.
One of the most popular methods for paperless bill management? Calendar apps. Whether it’s Google, Outlook, or anything in between, many said that as soon as they get an email about a bill, they set a calendar reminder to pay it on or before the due date.
MORE ON HERMONEY:
- Ask Jean: How Do I Transfer Funds From An Old HYSA To A New Account?
- Debt Relief Programs Explained: What They Are And How They Work
- Invest In — And With — Your Daughters: 5 Ways To Buy Stocks For The Girls In Your Life
SUBSCRIBE: Get more money tips delivered to your virtual front door each week! Subscribe to the free HerMoney newsletter today.
