Managing Bill Payment Can Be a Balancing Act

Almost a quarter of Americans don’t pay their bills on time. While many fall behind due to financial hardships, many more have the money to pay on time but don’t. They forget. They procrastinate. They don’t have time. They need to order more checks. Whatever the excuse, it’s not worth the late fees and the credit score impact, especially when Online Bill Pay makes paying bills on time as easy as accessing the Internet.
Online bill pay is recommended by nearly every personal finance expert I know, including Dave Ramsey, Suze Orman, Jean Chatzky, and Leah Ingram. You can’t create a budget, cut expenses, or prioritize debt without being organized, and this is one of the major advantages of bill pay services since it allows you to track, pay, and store everything in one place.
And that’s not all. For the frugally minded, you won’t have to pay for checks, stamps, or envelopes. For those who stay busy, it’s as quick as logging in and clicking Make Payment. For procrastinators, businesses will receive the payment faster than if it’s mailed. For the risk averse, it reduces your vulnerability to identity theft. For the environmentally conscious, it saves trees and reduces landfill waste. In fact, if every American converted to ebills and online bill pay, it could save 18.5 million trees and reduce waste in landfills by more than 800,000 tons a year.
When 35% of your credit score is based on payment history, consider how important it is to pay your bills on time. Enroll in Online Bill Pay and you’ll be more likely to do just that.

By Adam Lucas Adam Lucas holds a Finance degree and an MBA from the University of Kentucky. His work has appeared in many major outlets including Yahoo,, and
Monday on the Money is a weekly commentary from Bank of the Ozarks providing financial advice and solutions important to you and your family.