Good Lifestyle

It is undeniable that automatic is one of the most underestimated amenities in the modern era. The migration of Pay the bills With the envelopes by post to online transactions, it has made much less likely that you will forget to send funds, especially now that so many services have gone to subscription formats, such as streaming services or products Grooming. But before defining it entirely and forgetting it with your monthly sales, there are a few cases where you may want to authorize the transfer of funds yourself. Read the rest to hear experts on the reasons why you should never use the automatic line for specific invoices.

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Whether you rent or an owner, there is a good chance that you are sending money each month for subsistence costs. But although it is the only long-term constant for most people, it does not mean that you should not authorize your mortgage or your rent payment yourself.

"These are generally the most important expenses in a household budget, and miss a payment can have serious consequences", " TIM DOMAN , them Newly appointed CEO of Topmobilebanks, tells Better life . "It is important to have control of these payments and to ensure that the funds are available before being deducted. And although this approach is not suitable for everyone, that's something I like Personally have a complete control. "

"If you like to have this part of your automated budget, consulting the importance and size of the outgoing-then I recommend checking a few days before payment that your balance is healthy enough to guarantee payment," he suggests.

With so many things to pay each month, it is not at all rare that consumers consolidate their invoices on a credit card or two to keep things relatively organized. But if you choose to directly transfer the funds from a bank account each month instead, you may want to think twice before payment on the automatic driver.

"I am a big fan of the automation of invoices, especially since many companies offer discounts for automatic payment," explains Robert Farrington , founder of The college investor . "However, I am also a big believer that you should automate an invoice if it is paid on a credit card. In this way, if a problem arises, you have more appeal than if you have a direct debit of a bank account."

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Even if credit cards can be a powerful tool for financial organization when they are used correctly, experts warn that anyone holds they must be used as they are intended. This includes combing via your declaration each month before repaying your balance due.

"Whatever the credit card you have configured for your automatic payments, not Automate this card, "suggests Farrington." You must manually review the card costs, then handle the entire card manually each month. ""

There are technically a few reasons why you want to do this additional step. "Credit card companies often modify interest rates and costs, so it is important to review your bill every month to make sure you are not billed more than what you expected," explains Doman . "In addition, the use of staging for credit card invoices can cause excessive expenses, as individuals may be less likely to follow their expenses when they know that the invoice will be automatically paid."

Although heavy cable bills are slowly and increasingly becoming a thing in the past, they are quickly replaced by smaller subscriptions to individual companies and platforms. And even if it gives you more control over not paying for the content you really don't want, the number of options can make respect for How much you spend An intimidating company.

"Subscription services such as streaming platforms or magazine subscriptions can be easy to forget and can be added quickly," said Doman.

This is why it never hurts to do a regular self-audit of what you pay. "The revision of these invoices each month will allow you to cancel all the services that you no longer use," explains Doman Better life . "And let's be honest, if you have scrolled through Netflix's offers for the 14th time in a single evening without making a selection, it might be time to hit him on the head!"

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Apart from increases in or slight high and declining in your credit card expenses, many monthly invoices tend to remain static throughout the year. But the same thing cannot be said for certain services that fluctuate how much you need depending on the use, which makes it difficult to remain aware of your finances.

"Invoices such as public service bills or cell phone plans that can fluctuate in cost each month should not be automatic online," explains Doman. "The revision of these invoices each month will allow you to catch unexpected costs and make adjustments to your budget accordingly."

Keeping an eye on what you pay is the only way to make sure you don't spend too much or unexpectedly. And with regard to monthly payments where this is likely to occur, insurance premiums represent a higher risk than most others.

"Insurance companies can make changes to your police or your prices you may not know," says Doman. "The revision of these invoices each month will allow you to catch deviations and make sure that you get the best offer."

Best Life offers the most up -to -date financial information for the best experts and the latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.