Thursday, March 3, 2005

No Checks In The Mail

I've decided to cut back on my funding of the United States Postal Service. Some might point to my personal experience with my mail carrier (unpredictable delivery times, random pick up of outgoing mail, walking through the yard when I took the time to shovel snow from the walkway) as the cause. But that is only some of the reason.

I have been able to check my bank balances online since we remortgaged a couple years ago. One day while looking at my account I saw an "Online Bill Pay" button. I clicked on it and haven't looked back. As of January 1st, 2005, all of my monthly bills are paid online (notice that I have waited 2 months to post on this topic). They aren't paid automatically - I still have to key in the amounts and due dates - so it isn't like the bank is just debiting my account in a free money frenzy. But it is very easy and convenient.

I no longer have to go through each bill and write a check and send it out a week in advance. And I don't have to lick an envelope. I hate that taste. And let's all remember what happened to George Costanza's fiancee, Susan.

I'm also saving money. My cash stays in my account longer since the debits are exactly on the due date. So my interest is building up. You would be amazed how much you can make with that
.00012 percent accruing for an extra couple of days. OK, not much. But stamps cost 37 cents. Each. With an average of 10 bills per month, that is at least a $44.40 decline in my annual contribution to the USPS.

Add to that the fact that I am refusing to send out any more cards via snail mail. Hallmark has gotten big enough. E-cards are the way to go, and they are free to send. And they're animated. Much cooler.

Now, don't worry about the Post Office. I'm sure they will be kept busy delivering credit card applications, grocery store ads and the PennySaver. They just won't get to be in the middle of my bill payment process anymore.

So go ahead and start paying your bills online, too. The only thing you'll have to worry about is what to do with your extra time and money. Maybe the cash you save can go towards your high-speed internet bill.


Anonymous said...

You are SOOOOO cheap.

I can't wait for the blog post in a few months that says that you put in the wrong due date and payed more in late fees than a year's worth of stamps.

Anonymous said...

And which financial institution is providing these fabulous online bill pay services?

Wait, don't answer that...

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