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EFT: Schedule It and Forget It!

I do not like paying bills. Who really does? For me, it’s not just the fact that I’m spending all my money. It’s also organizing all the different bills that come in the mail and then finding the time to sit down and write out all the checks. It’s very tedious.

Now that I have a home, I have a monthly mortgage payment to worry about in addition to my homeowner’s insurance and utility payments. A couple of months into living in my new home, I actually misplaced my electric bill and received a disconnect notice! Needless to say, I panicked. After a frantic call to the service provider, I made the payment and got the situation straightened out. That was the last straw for me; I decided I was tired of stressing out about making payments every month. I went online to all of my service providers, and signed up for EFT. Life has gotten so much easier since I made that decision.

For those of you who may not be familiar with EFT, it stands for Electronic Funds Transfer. Most banks, insurance companies, and service providers offer this option for making payments. Enrolling is easy – just visit the website for the bill you’d like to pay, create an online account if you don’t already have one, and enter your banking information. The billed amount will automatically withdraw whenever the payment is due or on the date you indicate. I absolutely love it! I no longer have to be concerned about making a payment by a certain date because I know that it will be taken care of automatically. I’m a Millennial and I like things done quickly and efficiently. EFT is great because I don’t have to worry about late payments or possible cancellations of service.

EFT isn’t just for millennials. I was visiting my grandma a couple of weeks ago and we were talking about EFT. My grandma is very hesitant to give out her banking information online because she just isn’t comfortable on a computer. I offered to help her and she decided to give it a try. I went over a few weeks later to check in on her and she loves it. She travels frequently so she is excited that now she doesn’t have to worry about a payment being due while she is out of town.

Have you decided to make the move to EFT? How has it impacted your life?

Posted 6:12 PM

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