Could you benefit from a bill-paying service? Few Americans
know that this option exists, but it can be a great investment for people in a
variety of positions. Are you one of them? Here's what you need to know about
bill-paying services and who should consider using one.
What Is a Bill Paying Service?
A bill-paying service is, as its name suggests, an
organization you hire to manage and pay your personal or business bills on a
regular basis.
The service begins by working with the client to see how
they have been managing their bills and finances in the past, what challenges
they want to solve, and what bills they receive on a regular basis. With that information,
the service takes over receiving, reviewing, electronically paying, and
organizing bills. The client retains access to all bills and payments, and they
can be as involved - or not - as they wish.
Who Should Consider This Service?
While most Americans would agree that it would be nice to
have someone else do the onerous task of managing their household finances for
them, not everyone may actually need this service. However, a wider variety of
people than you might think should consider it. Here are a few of these.
Older Persons
As a person ages, they may have more and more difficulty
handling daily money management than they used to. This could be due to
physical ailments like a stroke or impaired vision. It could be due to being
more forgetful or confused. It could even be that they haven't embraced the
modern technology that many bill payment methods call for. For these, hiring
someone to help reduces stress and mistakes.
Busy Individuals
Are you just too busy with life to keep up with your household,
personal, or small business money management? Many people struggle to carve out
the time to sit down and work on time-consuming tasks because they're busy
working at the office, trying to succeed as an entrepreneur, volunteering, or
taking care of their kids.
You may already outsource many regular tasks - ranging from
yard maintenance to house cleaning - so why not outsource the household bills?
Certainly, your time could be better spent in many ways.
Travelers
Do you travel extensively or plan to start doing so? Whether
you're a young person taking time off to explore the world or a retired couple
who finally has time to indulge their travel dreams, you need people on your
team who will ensure your life at home continues to operate as normal while
you're gone.
With no one minding the home front, your trips could easily
be interrupted by shutoff notices, unpaid credit cards, and an empty bank
account. Even with virtual billing and automatic bill pay, travelers can fall
behind either from simply being preoccupied or having inconsistent access to
the internet.
People Who Don't Enjoy It
Some people have great skills and talents, but money
management just isn't one of them. You might be disorganized and have things
fall through the cracks. You simply might not enjoy crunching numbers. Or maybe
you struggle with sticking to a budget. If so, let a professional help out with
this job. Bill paying services not only ensure timely payments, but they can
also help you budget successfully.
Do you think that a bill-paying service could help free up
time, reduce stress, improve your credit history, and make budgeting work for
you? If so, start by learning more. Quality
Bookkeeping Services Inc.
provides a wide variety of personal and business
accounting services so you can tailor our assistance to your specific needs.
Call today to speak with a member of our skilled bookkeeping team.
