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Where Autopay Can Actually Be Helpful and Where It Could Hurt You
Pennygem
Follow
3/21/2025
Looking for ways to simplify your life? Putting these payments on autopay can take the thought out of taking care of your monthly bills.
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Learning
Transcript
Display full video transcript
00:00
Looking for ways to simplify your life?
00:06
Putting some payments on autopay can take the thought out of taking care of your monthly
00:10
bills.
00:11
Money Talks News suggests putting retirement contributions on autopay.
00:16
Figure out how much you need to set aside to reach your retirement goals and make an
00:20
automatic contribution monthly.
00:22
Your older self will thank you.
00:24
Car insurance.
00:25
That's also good to set on autopay and forget.
00:28
There are some payments you don't want on autopay.
00:31
As GoBankingRates explains, if you have a cell phone bill that varies, you may be caught
00:36
off guard by putting this bill on autopay.
00:39
Utility bills can also fluctuate.
00:41
So if you set those up on autopay, you may miss, say, a water leak in your house by overlooking
00:46
a high water bill that was paid automatically.
00:49
The gym membership is good to have on autopay if you're regularly going.
00:53
If you have trouble keeping that New Year's resolution to work out, maybe paying it manually
00:58
every month will remind you that you're literally paying for nothing if you don't go.
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