Online banking is a genius move!

I'm not an accountant, but I'd like to think like one! Bottom line is that time is money and I need to use both wisely. I want to enjoy my spare time and not be tied down writing out checks, buying stamps, and then going by the post office to pay my bills. Well, online banking is just what I needed. Now I don't worry about my bills and paying them is a stress-free "moment". My old routine consisted of getting my bills out (lots of envelopes and paper) and putting them in piles on the coffee table - usually in front of the TV so I could "relax more". Then I would grab my checkbook and a pen, and then look for stamps (which are always getting more expensive it seems). Then I would begin reading each bill, tearing it off, writing the check, documenting it---you know the routine I'm talking about. BORRRING. What use to take me over an hour each month, now takes me eight minutes, or less. I'm not exaggerating. I log on and check for my bills (5 minutes to look them over) and see what I owe. I open my online account, log in, and begin paying (3 minutes from start to print receipt). Now it's even easier as MSN has a direct line to some companies; they send the bill right to your MSN account! Log on and it tells you if you have a bill due and how much it is. Click to open it and it directs you right to your bill so you can verify it. This is is a genius move by MSN. I can now pay my electric bill, credit cards, mortgage, whatever....all in one place. No more going to each company's website and paying individually. This is so much easier.

I have cut the time needed to bank and verify my accounts. With paper statements I didn't spend as much time thinking about my money as compared to my new online banking system. Another benefit comes to those people who are late payers - you can receive reminder notices via email, and even schedule payments in advance!!! Hello? All those late fees you may have once "enjoyed" can now be ELIMINATED - you won't procrastinate because there is no hassle. Yippee! So what is the catch? Maybe a small fee. The trade-off is you can avoid late fees and save money. I estimate I saved at least $75 in late fees in 2006 because I'm truly well organized now: I don't misplace bills, I pay on time, and I now I think better about money and interest rate charges. I made a game out of paying off a credit card using online baby payments (smaller payments made multiple times in one month). The monthly small fee I am charged is a no-brainer for me. I take care of ALL my bills using one of the secure online methods-- it takes me about 4 minutes. I always use a secure computer (this is critical, but not difficult) to manage my accounts and pay bills. I verify withdrawals, transfer money between accounts, and verify deposits (important when an item is returned to a store). I now verify my debit purchases and this too has paid off; a restaurant once double dipped into my account. My $21 dollar dinner ended up costing me $42! I caught their error and took care of it quickly. My credit union was helpful.

Take 30 minutes and do your own research. Check to see if your bank or credit union has online banking services, and also look at sites like MSN BillPay and others. Fees vary, but I think most are very affordable, and some are worth every cent.