Invoices that never need to be put on automatic payment

We can all use an easier and more efficient way to manage costs and save money. Automatic billing can help ensure you never miss a payment, which minimizes the risk of late fees and credit report errors. But while automatic payments can save you time and your personal finances, it is not the best choice for all expenses. What bills should not be paid automatically, the publication said Yahoo!.

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Automatic payment is ideal for payments that don't change every month, such as mortgage or car payments. You know what to expect from these bills each month, so it will be easier for you to plan and budget. The situation is different with monthly expenses, which vary.

Mobile phone bill

If you have an unlimited cell phone plan and your bill never changes, autopay is a time-saving strategy for managing payments. It is also possible to set up automatic payments for an unlimited mobile phone plan. The problem, however, is that the amount you owe can change from month to month, depending on your data usage. And if you forget to read your cell phone statement during months when you have more money than usual, the extra funds withdrawn from your bank account could trigger an overdraft and you'll have to pay a bank fee.

Some cell phone plans also don't have the same billing date every month. While you may have a set date (say the 15th), others have a monthly cycle that depends on the number of days in the month. This doesn't guarantee a consistent payment date every month, so you could be caught off guard by not having any funds in your account.

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Autopay is a convenient way to close accounts, but it leaves you less likely to check your cell phone bill after setting up automatic payments. This means you may miss billing errors and end up paying more than necessary.

Utility bill

If you haven't made a budget plan through your utility company that allows you to pay a set amount every month, your water, gas and electricity bills will also change every month. Therefore, it is generally safer not to automatically pay utility bills.

Initiating one-off payments each month requires you to sign in to your accounts. In this case, you have a better chance of reviewing statements before making a payment. However, if you regularly review your statements, it is easier to spot unusual price increases.

For example, a higher water bill may indicate a water leak in your home. If you set this payment to automatically calculate and never review your statements, the leak could go undetected for months and cause significant damage to your home—and your wallet.

Gym membership

A gym membership helps you get in shape and shed those extra pounds. But you can lose more.

If you want to go to the gym regularly, it would be a good idea to set your monthly membership fee to automatic. But despite your intentions and actual time spent at the gym, your expectations may not be met—to the point where it no longer makes sense to pay for the membership.

With auto payment, some invoices become invisible and irrelevant. As a result, there is a risk of losing control over the transfer of money from your account.

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On the other hand, if you are making payments yourself, you are more likely to measure your gym use from time to time and unsubscribe if you are not using it.

Cable and satellite TV

Cable and satellite TV bills can vary, especially if you watch a lot of movies on demand. If your cable TV bill is automated and funds are charged from your bank account, then you can never control the amount you spend on additional services.

It is not uncommon for many cable and satellite companies to increase their rates annually and include fees for new offerings, such as regional sports networks that you are not watching. Paying in the traditional way, by check or a one-time payment over the Internet, gives you the opportunity to check your account for price increases and anything that might end up in your check, even things you don't use.

Evaluating your cable or satellite TV bill will let you know when all the promotional offers you subscribed to have expired. It may also prompt you to call the company and ask them to review your package.

Video streaming services

Streaming services like Netflix and Hulu are convenient because you can watch whatever you want. But think twice before signing up for these services. If you have cable TV, some of the shows and movies offered by streaming services are also available through your cable TV service provider on demand.

If you are used to having streaming fees charged from your bank account or charged to your credit card every month, then you can pay those fees month after month without worrying about whether you need these services. When you sign up for a streaming service but don't enjoy all the benefits, you're essentially flushing money down the toilet.

Music streaming

Music services like Spotify and Apple Music let you stream almost any song by any artist. The downside is that you must provide a credit card or bank account number before accessing songs. The music service automatically charges a monthly fee from your account.

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Streaming music is a fun luxury, but only if you get your money's worth. If your usage drops and you listen to less music (or stop completely), the company continues to charge you until you cancel your subscription. If you forget to cancel your subscription, you'll have to pay for a service you no longer use.

Beauty boxes

Several beauty brands are promoting beauty box subscriptions, where subscribers receive a box of products every month to try at home. It's a smart marketing tactic for cosmetics companies, and it's an easy way to experiment with different cosmetic brands before paying the full retail price.

Since these subscriptions are relatively inexpensive (typically starting at $ 10 per month), this may seem like a minor monthly expense. But the cost of a beauty box subscription increases throughout the year. If you have set up automatic payments for this subscription, you may not notice an increase in cost. This way you will be spending more than $ 100 a year, but only use a small percentage of beauty box items.

Newspaper subscription

If you prefer to read the news rather than watch it, a print or digital subscription will get you the latest news.

Some newspapers provide subscribers with automatic payments. It's not a bad deal if you read your subscription. And if you’re busy and stack the newspapers in the corner without reading them, you’ll waste your money on subscriptions you don’t use.

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On the other hand, if you plan on one-off payments every month, you are more likely to cancel your subscription if you no longer use the service.

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If you have subscriptions or services that renew once a year, do not set up automatic payments for those charges. Even if you are an organized person with an extraordinary memory and the ability to write everything on the calendar, annual expenses can take you by surprise. Since you don't think about these bills regularly, you might not remember the next payment date, especially if you don't receive a reminder.

With automatic renewal of annual subscriptions, you give the company or merchant permission to automatically charge your credit card or transfer funds from your bank account at the next payment date. If you don’t prepare for these costs, the company may deduct funds from your bank account when there is insufficient funds, which will incur an overdraft fee.

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