How to Pay Monthly Bills Online

The introduction of automatic bill pay has simplified countless lives. Now routine payments such as mortgages and credit cards can be set up and left to run on their own without taking the time or effort to write a check every month. And the best part of all, most banks now offer free online bill pay, so you’re effectively saving the value of all those stamps by paying monthly bills online.

Set up an Online Bank Account

To pay bills online, you must have a bank account that is linked to an online account. The easiest way to pay monthly bills online is to work with your own bank to set up payments rather than use a third party bill pay source. If you already have a bank account with an established bank, ask about accessing your account online and the availability of bill pay services. Once you have online access, provided your bank offers bill pay, you should be set to begin paying monthly bills online.

Organize Your Bills

If you normally pay bills as they come through the door, you need to add a new step to your regime for a month. Rather than pay that bill using a check, set up an account for the payee online in your new bill pay account. Entering the payee will take a few minutes, but you won’t have to do it again after they are set up in the system.

Set Up Payments

Once the payee is added, set up the payment. If this particular payee is an installment loan or balanced billing, there is no reason to not set up a repeating payment. A repeating payment means the same amount is going to the same payee at the same time every week, month, or even year. Mortgages, minimum credit card payments, car loans, cable bills, cell phone bills, phone bills, student loan payments and more can all be set up as repeating payments.

Once the repeating payment is set up correctly to leave the account on the correct day every month, you don’t have to worry about that payment again. It will automatically be paid every month whether you take the time to login to your online bank account or not.

Other payments, such as the water bill or gas are harder to set up as repeating payments. If your service provider offers uniform billing, you can take advantage of that to set up repeating payments, or just set up a new payment every month when those few bills come.

Check Your Account

It is important, of course, to be sure you have money in your account for when the bills automatically are paid. You can pad your account with a bit of savings to avoid going negative if a bill leaves before your paycheck arrives, or you can time all the bills to leave at a certain time following the arrival and deposit of your paycheck.

Then, you can sit back and relax knowing your money is being direct deposited into your account then sent out to pay your bills all without having to pick up a pen or dig out another stamp – ever.
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How To Get a Car Loan

There are many kinds of loans, and for most consumers, a car loan is the first major foray into the wide world of investments and secured loans. When you’re ready for your first set of wheels or rather, the first set you’re paying for yourself, here’s how to get a car loan.

Do the Math

The first step in securing a car loan has little to do with the bank, it has more to do with your actual income. Before rushing out to buy your dream car, you need to consider your level of income and your other expenses. In short, how much can you really afford to pay every month on a car loan?

A car loan is generally not more than twenty percent of your net income. That means if $2000 comes through your door every month after taxes, you can afford to spend $400 of that on a car provided you are not overspending in any other area of your budget. A car is a depreciating asset, not an investment, so don’t take money away from savings to try and justify a more expensive car.

Get Approved For Your Loan

Even before you start shopping for cars, you might consider getting pre approval for a purchase. If you know you’ll be working with your local credit union or bank, meet with a banker and discuss your plans. They bank can run your credit for an estimated amount and you’ll be set up even before you buy.

Shop For a Loan!

Once you know your limits, it’s time to shop. Of course, your first shopping stop shouldn’t be the sales lot. You should start by working online or in a car guide to see what models fall into your budget. Salesmen are trained to make you leave your wise budgeting behind, so starting your purchase online is a good way to keep yourself in check.

Research cars or trucks you like and look at pictures. Then find out the MSRP and invoice for the vehicle using a website like Edmunds.com. Finally, armed with your knowledge and intentions, head to the sales lot.

Be Assertive

A salesman will almost always try to talk you up to the next level of vehicle. It’s their job after all. You should know your limits and then you should stick to them. And not only are you focused on the MSRP of the vehicle, you should be ready to negotiate price down to 1% over invoice. Be strong and stick to your guns. If you falter, the salesman and his manager will walk all over you.

Arrange Financing

A car loan is a secured loan meaning the loan is tied to the car itself. This keeps interest rates reasonable. If you opted for pre approval, the purchase of the vehicle is simple. Contact your bank and finalize your loan paperwork. Get a check for the negotiated amount and your work is done.

If you opt for financing through the dealer, be sure to research current dealer promotions and typical terms so you can properly negotiate for suitable rates and payment amounts. Be sure to negotiate the price of your purchase first. Then negotiate interest rates and terms. The monthly payment will follow. Avoid adding on any of the extras that dealers create to pad the price of a vehicle.

Finally, when all terms are in line, sign on the many dotted lines and drive away the owner of your very own car…and your very own car loan.

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