Are automatic payments a good way to stay on top of my bills?
Financial expert Nicole Lapin shares a personal story about the pros and cons of automatic payments - and how you should always be checking your bill even if the payment is automatic,
Transcript
I love automatic payments, but they can be a little bit tricky
because you actually have to make sure that you're paying those monthly payments on time. For example, I am going to give you a little story here,
tried to use it myself and signed up for automatic payments when I had satellite television. The paper bills still arrived, though, in the mail,
but I just filed it away, not really paying attention to that bill because I knew I was already taking care of it automatically.
Now this was a mistake. Because about a year into it, I noticed that my bill was a lot larger than normal.
As it turns out, the provider charged me for a football package that you had to opt out by by a certain date, which I missed.
So I was on the hook for that extra charge. Here's the takeaway from my little snafu story. Just because you choose automatic payments,
healthy habits
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