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If you haven't already signed up for this free app, you should do so immediately. Mint will not only automatically track your spending for you, it will help you create a budget and even send you an alert if you overspend in any of your budget categories.
But now Mint has a new and powerful feature – bill tracking and bill pay.
It will allow you to connect not just your credit card bills but your utility bills and rent or mortgage payments and even any off-line payments to your Mint account. It will then remind you of bills that are due and when they're due. In fact, it will not only tell when a bill is due, it will alert you as to the minimum payment required (if it's a credit card bill) and help you schedule the payment.
Using Mint to track and make you monthly bill payments works best if you feel you need to get organized because your billing system is kind of chaotic and you think it would be great to have someone else remember your bill payments for you. It's also good if you want to pay from your checking account as this would be free.
If you're not already using Mint, here's a video that shows how to set up and use it.
4. If you're not completely sold on mobile payments
Nearly 25% of all Americans are not totally sold on the idea of mobile payments – according to CreditCards.com. Again, according to this study, 64% of those that are skeptical about mobile payments reported that security and privacy were their number one concern.
If you're a member of that one in four, like doing things the old way or just have a lot of bills you can't pay electronically than using snail mail for you monthly bill payments is for you.
Of course, it's important that you leave a lot of time to get a check in the mail prior to when the bill is due. It's wise to watch your bank account to ensure that the payment goes through. If you check your account and see that a payment hasn't yet been collected and it's getting close to its due date you should follow up with the vendor so you don't get slammed with a late fee. It's always possible that your check could get lost in the mail. If this happens, you can probably pay over the telephone at the last minute and avoid those nasty late charges.
This strategy is best if you just don't want to automate and if you have enough time every week to review your bills as they arrive in the mail or online so that you can send a payment promptly. You also need to be good with follow-up and don't mind checking your bank statement frequently to verify when and if your bill payments got cleared.