Thursday, December 8, 2011

How to consolidate my bills into 1 monthly payment.?

I am moving into an apartment and this is the first time I have lived on my own. I will have your normal bills(cable, electricity, water, food, gas etc) I would like to at the end of the month just have 1 bill to pay. My idea is to basically when i get paid transfer all the $ into my savings, all but $100(so I have cash available), but all my bills I will pay with my credit card. Then at the end of the month transfer $ from my savings to pay my credit card off, that way I am only making 1 payment instead of paying all my bills individually. I would most likely set up the bills like cable and electricity to autopay where it automatically charges my credit card at the same day every month. What do you think?|||you still have to "pay" teh individual bills with the credit card, so you aren't saving any time or effort - you are actually adding one more bill and if something happens where you are late paying that credit card, then you will have interest charges and late fees on top of the actual expenses and more than 2 late payments and your credit card int rate will shoot up to 30% forever|||Why not put more money in your checking account and set up automatic payments for your utilities? Just give them a call - the phone # is usually on the bill for direct withdrawal. I even have my rent automatically paid along with all of my insurances. The only checks I write are if something comes up like a dental bill or something unexpected. Even then I use my ATM card. There are many months I don't even have to write one check.

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