Most credit card and mortgage loan companies offer automatic payment plans
that are easy to use and set up. Simply contact your credit card company via
phone or sign up for the automatic payment feature online to have your credit
card bill paid directly from your checking account each month. Not only will it
save you money on postage, but leave you with the peace of mind knowing your
payment is on time each and every month. No more late fees mean more money in
A few words of caution: If you are going to set up automatic payments from your checking account, first review your account records for the previous 6 months or so. Make sure that you have had a stable enough level of income (coming into your account) that supports making such a decision. If you have a job that relies heavily on overtime or bonus income, you may want to avoid this option, keep the flexibility and continue to make your payments manually. If you get in a pinch, most credit card companies and mortgage lenders have phone (some may charge a fee) and online payment options. You certainly don't want an auto-payment to be declined for insufficient funds!