A Better Way to Manage Your Everyday Money - Book - Page 85
service like PayPal, Venmo, or Zelle.
Bill pay – You use your bank or credit union’s online bill pay service to arrange for a check to be
received by the payee on a future date, which draws from your checking account.
Automatic Deduction – You authorize automatic payments to be made with electronic
withdrawals directly from your checking
account.
Credit card – You charge the payment
online to a credit card.
Automatic Credit Card – You authorize
payments to be automatically charged to a
credit card.
Money order – You purchase a money
order from a store like Walmart or from the
Post Office using cash or a paper check
that draws from your checking account.
Other
Cashier’s check – You get/purchase a check that is guaranteed to be good, from your bank or
credit union (A cashier’s check is signed by a cashier or teller and draws on the bank or credit
union’s funds instead of your checking account. The bank or credit union guarantees the check,
not you. A cashier's check can also be called an official check.).
Cash - You pay in person or you pay a fee to a business, like Walmart or Western Union, that
offers a money transfer
service.
I’m a big fan of doing
things automatically. As
you can see in my Pay
Bills window for
9/15/2024, every bill and
credit card payment is
either Auto Deduction or
Auto Credit Card. What
this means is that to pay
these bills (which means
record the payments in
75
