Before the reality of adulthood struck, we didn't really understand the intricate parts and processes it took to pay all of your bills on a monthly basis. These bills can include cell phone, rent/mortgage, home insurance, car lease/car insurance, groceries, personal belongings, extra curricular activities, and more all have different times and dates. If you try to literally keep all of that in your mind at once, 8 times out of 10 you might not succeed.
Thanks to the progression of technology and business practices, we all now have the ability to utilize direct deposit. Through a specific (yet simple) process your job can simply send your money straight to your bank. Keep in mind that you should still retain your pay stubs just for record purposes.
You have complete control
Being able to have complete control of your finances is the first step to staying on track. As stated earlier, there are a multitude of bills that you most likely have to take care of. One of the most important things you should do as you are planning to pay your bills through direct deposit is add them up weekly and monthly. If you get paid bi-weekly, it is important that you know exactly how much you are bringing in and how much you need to send out.
Keeping pace on your financial schedule
What we mean by keeping pace here is budgeting how much you spend on a daily basis. It is pretty standard to have moments of splurging for any reason (gifts, food, entertainment, etc.,) is normal. For example, if you setup a daily limit on yourself (lets say $100 a day or $500/week), keeping pace simply helps you do what you want without having to worry about your bills.
Saving you in the times of accidental forgetting moments
One thing that you do not want to do is spend more than you are expecting to have come in (or on a specific date). The last situation that you want to put yourself in is being late on a bill. While you may be able to work a little overtime, but fees add up no matter if you pay it/them once or twice.
Understanding how direct deposit bill pay keeps you on track is a great first step in controlling your financial future. By avoiding late and missed payment fees, you increase the amount of funds you can dedicate to other debt obligations. You are also able to stay on track with your payments and control how much you pay and when.
We thank West Virginia paystubs for the information contained in this article on using direct deposit and bill pay to get out of debt. With no software to download, no templates to fill in, and no calculations to perform, say "yes" to your instant West Virginia pay stub income verification!
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