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Of course, that doesnt mean putting some or even many bills on autopay is a bad idea.
Keep reading to find out what they had to say.
Then, you have time to address problems before making a payment.
But you should be in control of making the credit card payment.
Utilities
Setting utility bills to autopay can be risky, Pritchard noted.
You could try themaximum dollar approach, or simply not set these bills to autopay at all.
Retirees should put all bills on autopay, Damsky said.
The tricky part is keeping everything organized, so its easy to spot unnecessary expenses and cancel them promptly.
However, he also noted thats easy to do while still having bills set to autopay.
Maintain all autopay expenses on a single autopay-only credit card or bank account, he suggested.
If youre paying close attention to these expenses, he said you might even find ways to cut back.
Maintaining organized spending accounts can also help to identify potentially fraudulent activity promptly.
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