We almost made this huge online banking error : The Saturday Weekend Review #102

NEVER RUSH YOUR FINANCES!   Online banking is a no-brainer for most people these days even though a percentage of people still opt to mail in bill payments or even go into the bank. What would you do if you wiped out your bank account because of your own error? That’s right if you aren’t careful with your fingers you can easily do what Marla did below or like I almost did earlier this year. If you are a fan of online banking I suggest you take a moment to make sure you are protecting your bank account from costly errors.   Online Banking is not for everyone   A couple of weeks back I was telling you about my mother-in-law who is one of those people who wants nothing to do with online-banking because she’s scared to have her personal information online. She is comfortable with putting a stamp on an envelope and mailing a cheque to the bank so the bills get paid. Even though my wife and I tried to assure her that online banking to pay the bills and that her money would be protected up to $100,000 (assuming she’d never given her banking passwords info […]

Why you need to review automated bill payments: Our family budget April 2014

DOUBLE CHECK ALL OF YOUR BILLS   No matter what payment methods you choose to pay your bills with especially if it’s an automated bill payment you must review them. If we didn’t do just that with we would have paid around $594.96 extra per year for our auto insurance. I can think of many other areas of our finances where that money could be used. Whether you use a budget or a bill payment spreadsheet if you’re not careful you may be paying more for that automated bill payment like we just did. If it wasn’t for our budget and reading all of our bills and receipts we may not have caught the error. I know people who have any bill they possibly can set up so the bill payment is an automated bill payment directed that way mainly due to convenience. What is an automated bill payment? Well, it’s simple. It’s where you don’t have to do any of the work because the company that is billing you for a service they provided will debit your bank account for the amount of the bill. It’s that easy all you need to do is authorize that bill payment and […]