8 Hacks for Spending Less Time and Money on Paying Bills

Though we all eventually find our own ways of coping with bills, handling them can often feel like an overwhelming chore. If you’re still lining up at payment centers and paying your dues manually, then it definitely is a real burden. When compared to the ease of online bills payment, paying bills the old-fashioned way is unnecessarily costly and time-consuming.

Sadly, even though many Filipinos have already adopted digital wallets and other online payment methods, over-the-counter payments remain exceedingly common—despite the fact that they’re more expensive. Apart from the convenience fees that businesses often charge for physical payments, there are other associated costs, including transportation and time. You also run a serious security risk, as criminals know that people lining up at payment centers are carrying large amounts of money.

Of course, paying digitally does not always guarantee you’ll be making big savings. Sure, you could save in some ways but the wrong approach could still lead you to waste cash. With all that said, below are simple life hacks that will help make your payment due dates a little less expensive and hectic:

1. Use an Online Banking App or Digital Wallet

Ideally, you should open a bank account at a trusted digital bank as soon as possible to avoid over-the-counter convenience fees. Many digital banks like Maya offer high interest rates and no maintaining balance, making them ideal for anyone who wants to keep their funds safe from both unauthorized parties and inflation. If you don’t have a bank account yet, don’t worry! It’s easier than ever to open accounts on e-wallets and digital banks like Maya. These digital financial products allow you to pay multiple billers over one app, reducing the hassle of paying in person or using different payment platforms for each biller.

2. Set Up Online Bill Payments On Your Banking App

Most banks and e-wallets now offer online bill payment services through their apps and websites. They also let you save biller details so that you can easily make your payments without having to enter your information every time. Most importantly, you’ll be able to pay whenever you need to, wherever you happen to be.

3. Opt-in For Email and In-App Reminders

Allowing your billers to send you reminders can help you keep tabs on what you need to pay. Not only do you get a little nudge right before your due date but you also get a handy electronic message trail that can prove useful later on.

4. Keep Calendar Reminders of Due Dates on Your Phone

Not all your billers will send you text or email reminders. In these cases, you’ll want to set your phone’s calendar to track the due dates. This can help prevent missed payments and costly penalties.

5. Pay in Advance

If you have extra cash and have no immediate need for it, you may as well pay for several months at once to avoid processing fees or future rate hikes. Some billers might even offer discounts for early payments, saving you even more cash.

6. Switch to More Affordable Providers

If you still haven’t found a provider for services like streaming services and internet, compare different offers first to find better rates. You can also contact them to see if there are any upcoming promos that you can take advantage of to further reduce your bills.

7. Track and Review Bills Regularly

Never delete recent texts or emails related to your bills; you might need them to dispute errors or discrepancies, so that you can avoid paying for services you didn’t use. If you no longer use a specific service, unsubscribe immediately so that you have more funds to pay your other billers.

8. Educate Yourself About Online Security

In some ways, digital funds can be safer than physical cash. Still, you must do your due diligence to avoid emerging online threats. Set yourself on the path to digital readiness by reading up on how to keep your electronic funds, phone, and computer safe from online scammers. 

At the bare minimum, you should keep your online payment platforms secure by regularly updating your passwords and by enabling two-factor authentication (2FA). This process requires accessing parties to furnish proof of identity separate from the account password, usually a one-time PIN (OTP) or biometrics data. Enabling 2FA keeps your account more secure and ensures that every transaction you make is deliberate.

Save Thousands of Pesos on Bill Payments

If there’s one thing to take away from this, it’s that paying bills doesn’t have to be tedious and expensive. If you already use an e-wallet, you’re already on the right track. However, you can make your bill payment experience even better by switching to a bank that offers convenient digital payments. From there, you can slowly build helpful payment habits, saving you precious time and potentially thousands of pesos that could be used to build wealth and enjoy the better things in life.