In an article for DepositAccounts, I was asked to comment on the issue of automatic payment and if they truly cause money management woes. I used my personal experience with automatic payments as the foundation, noting that I learned the hard way about how troublesome these types of payment structures can be if you don’t stay on top of them and realize what you are getting into when you sign-up for this type of arrangement.
The article offered sound advice about why automatic payments may not be the best choice for certain types of products or services, but they do have some benefits like potential discounts. However, the downside tends to be greater if you are not aware of how to use these payments strategically. The article’s experts provide good information about the rules involved with automatic payments so you know your rights and can use this as leverage when you are fighting to stop the billing.
Knowing what I know now about automatic payments will help me to not be in the same position again.
