Financial Wellness: Are You Really Saving Money?

Yesterday I attempted to pay some bills online. I prefer to pay my bills online because I can save on buying stamps and envelopes (if they don’t provide you one) and I can use paperless billing as well. I just keep my online bills in my inbox until I have paid them and then put them in my paid folder after I have paid them. I have a pretty good process that just makes it easy to do. Except yesterday, I discovered that one of the places was actually CHARGING me processing fees for paying my bills online vs. mailing them in. One place actually charges me $3.00/transaction to pay my bill online. Which means I have been spending $36 more a year on bills than I actually need to be. Now this may not seem like a HUGE deal, but when you are on a tighter budget like I am, $36=a week of groceries (almost).

The point of this post? Even though a company might say you are “saving time, money and paper” by switching to paperless billing, you might actually be SPENDING more money to pay online.

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