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One of the most popular uses of the internet today is online banking, and many people prefer to do their banking and pay their utility and credit card bills online rather than in person or paying by paper check.

But if you have ten or more different online accounts such as bank accounts, credit card accounts or utility accounts then it can become difficult and confusing to keep all of your information straight, which may lead to accidentally forgetting to pay one or more bills and incurring late fees. This article will give you some practical advice that you can use to effectively organize and manage all of your personal finances while paying your bills online.

If you have experience using any kind of spreadsheet software such as Microsoft Excel, it can be very easy for you to organize all of the bills you need to pay in a simple spreadsheet format. Simply use the different columns to list the name of the company you need to pay, the date when the bill needs to be paid every month, and then fill in the amount for each payment that you make to save for your permanent records. This is an easy and free method you can use to keep track of all your personal finances, and it can help prevent accidentally skipping over a bill such as your electric bill, which could result in having your electricity turned off.

A good idea that you can use to improve the security of managing your finances and paying your bills online is to use paper and a pen to record the user names and passwords of all your online accounts instead of storing that information on your computer. While surfing the internet it can be possible for your computer to automatically download “malware” if you stumble upon a web page that does not have your best interest at heart, which is a type of covert computer software that downloads files directly from your computer trying to gain access to your personal information. By keeping critical information about your online accounts off of your computer, you can make sure that you can always protect your identity and the integrity of your financial accounts.

When it comes to paying your utility bills online, nearly all utility companies and online banking portals will offer an automatic bill pay feature, where you can enter the checking account number and routing number to have your utility bills paid automatically once per month. This can simplify your online bill paying experience, but it is still a good idea to use your spreadsheet to keep track of when the bill gets paid and what the amount is. It may be hard at first to keep such painstakingly detailed online financial records, but it will pay off in the long run and simplify your financial life.

In conclusion, many of us today prefer to manage our personal finances on the internet rather than using a paper check book, yet this can open up problems such as identity theft and lost passwords. By following a few simple steps such as organizing your different accounts in a simple spreadsheet format and storing your sensitive account information off of your computer, you can keep your personal finances well-organized and avoid some of the common problems associated with paying your bills online.

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Tags: Online Banking, Online Banking Tips, Online Bill Payment, Paying Your Bills Online, Personal Finance, Spreadsheets, Utility Bills