How to Choose a Bill Pay Method

Part of the Video Series How to Set a Budget

Viewing videos requires the latest version of Adobe's Flash Player.
Get the latest Flash player.

Learn about Status and Pay Types in this free series of personal finance video from our professional Certified Public Accountant (CPA).

Rating:
Views: 562
Comments: 0 (comment now)

Favorited: 0 | Add to Favorites

Tags: budget, expenses, personal, personal finance
Bookmark at:

All Videos in the Series, How to Set a Budget

Member Comments

Video Transcript

How to Choose a Bill Pay Method
On the monthly bills I am now going to talk about status and pay type. Status is a way of tracking just the status of the bill and the sequence on this is you are either waiting for a bill to come in. I noted it as wait. You have received the bill but you have not paid it. Then once you have paid it you noted it as paid. For pay type I have 3 types of pay types listed here. 1 is we pay it on line, the 2nd is it is a draft by our bank that goes directly out of our bank account, and the 3rd way is the old fashion way of just mailing it in. So the main thing on mailing it is to make sure to mail it in advance of the due date. So in this example we are mailing this bill on the 15th that is due on the 20th which is the gas bill.

About the Expert

Expert: Tom Noah has been a Certified Public Accountant (CPA) for more than 27 years. In that time he has held positions at several companies as an accountant and as a director of financial planning. Read More